XRP Introduces Single-Sided XRP Staking on The Root Network

XRP

Crypto Eri, a prominent figure within the Ripple community, has provided insights into upcoming advancements to enhance the utility of XRP. In a recent tweet, she mentioned the introduction of a game-changing feature – “single-sided XRP staking” on the Futureverse. 

With a sense of anticipation, Crypto Eri highlighted the forthcoming development, signalling a new era for XRP utility. 

Holders in for a Power Boost

The forthcoming staking feature on The Root Network presents XRP holders with expanded opportunities. Consequently, this will elevate their engagement within the crypto space and amplify the utility of XRP. 

Crypto Eri’s update was derived from insights shared by Aaron McDonald, the founder of Futureverse—the team behind The Root Network—during a recent X space discussion. The update sheds light on the evolution of XRP’s utility. 

McDonald emphasises the historical focus on XRP’s one-dimensional utility for payments and stresses the significance of broadening its capabilities. The anticipated staking feature is pivotal in ‘supercharging’ XRP’s utility. It will offer holders access to various applications through smart contracts on The Root Network.

Similarly, Moai Finance’s upcoming launch on The Root Network is crucial in this development. Crypto Eri underscores Moai Finance as a universal gateway to multi-chain liquidity, highlighting its pairing of XRP with USDC, Root, and other cryptocurrencies. 

This strategic integration shows the collaborative efforts to enhance XRP’s versatility within the broader crypto space. As The Root Network expands XRP’s utility, particularly through partnerships with platforms like Moai Finance, it signifies a dynamic shift.

Single-sided XRP Staking

To celebrate Moai Finance’s introduction to The Root Network, the team invites XRP holders to embark on a “Voyage to the Future.” This expedition allows holders to contribute early liquidity to The Root Network by staking their tokens. In return, participants will enjoy exclusive access to MOAI token pre-mining and receive rewards in ROOT tokens. 

According to the Moai Finance roadmap, unveiling the MOAI token is anticipated early next year. Subsequently, this will add more anticipation to this collaborative venture between XRP holders and The Root Network.

Read Also: Ripple Reveals XRP-Based Product Rebranding, Welcomes New Partners 

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

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