Bitrabo Editorial
The XRP community is buzzing with excitement and rumors about the upcoming Ripple stablecoin, RLUSD. However, Vet (@Vet_X0), a prominent XRPL dUNL validator and co-founder of the popular NFT marketplace on the XRP Ledger, has clarified that RLUSD will not be fully operational on the XRPL this year.
Reasons for the Delay in Ripple Stablecoin Launch
In a detailed post on X, Vet emphasized the need for realistic expectations: “RLUSD will either launch on ETH alone this year, or it may also be available on the XRPL but initially unable to be used in the Automated Market Maker (AMM), only with the DEX order book. I’m optimistic for the latter option.”
He further explained that RLUSD has a ‘clawback’ feature that the XRP Ledger’s AMM does not currently support. “Tokens with clawback settings are not allowed in the AMM on the XRP Ledger. There are ongoing amendments aimed at addressing this issue,” he said.
Vet highlighted key amendments like XLS-73 and XLS-77, which are intended to improve control over trustlines and limit RLUSD’s transferability in certain situations. XLS-73 will modify the AMM to accommodate assets with clawback features, while XLS-77 aims to allow for a broader freezing of trustlines, enhancing security against misuse by blacklisted accounts.
“Given the decentralized nature of the XRPL, predicting when these amendments will arrive is challenging, especially with the current community fatigue. I appreciate the excitement surrounding on-chain activities through the tracker I created, and I want people to focus on understanding trustlines and IOUs rather than unverified articles and partnership buzz,” Vet concluded.
David “JoelKatz” Schwartz, CTO of Ripple, did not disagree with Vet’s evaluation but offered clarification on a technical detail. In a post on X, Schwartz remarked: “I’m not sure I agree with calling XLS-77 a ‘deeper’ freeze. It might be shallower. If I’m not mistaken, in cases where XLS-77 is relevant, an asset would not get frozen.”
In response to Schwartz, Vet refined his explanation, acknowledging the complexities involved: “Good point… In my mind, it made sense as the freeze affects more than just the trustline; it impacts the payment engine and DEX—perhaps that’s why I referred to it as ‘deep.'”
Another respected member of the XRP community, Daniel Keller, asked for confirmation about whether Vet’s statement on the Ripple stablecoin was based on speculation or facts. Vet replied, confirming the technical hurdles: “The XRP Ledger has confirmed this is not feasible. It’s still unclear if they will pursue only ETH or ETH and XRPL with AMM limitations.”
As of the latest updates, XRP is trading at $0.6344.