In a significant development for the XRP community, Uphold, a prominent cryptocurrency exchange, has commenced the distribution of Evernode (EVR) tokens to eligible XRP holders. This move comes after the completion of Evernode’s registration phase for its airdrop, targeting over 423 million XRP tokens deemed eligible for participation. A snapshot taken on September 1, 2023, determined the eligibility for this distribution, marking a pivotal moment in the XRP ecosystem’s expansion.
Evernode’s Integration into the XRP Ledger
Evernode represents a leap towards introducing smart contracts on the XRP Ledger through its layer-2 network and Hoops technology. Launched on the mainnet in mid-January, Evernode allows developers to create decentralized applications (dApps) on a sidechain, with EVR as the native currency. This integration not only boosts the XRP Ledger’s capabilities but also rewards validators who help secure the network with EVR tokens, fostering a more robust and versatile ecosystem.
Uphold’s Simplified Distribution Process
Uphold has streamlined the process for its users, eliminating the need for additional transactions to claim the EVR tokens. Eligible users holding at least 1 XRP on Uphold during the September snapshot will receive 0.002089 EVR per token, up to 50,000 XRP. This equates to a maximum of 104.4 EVR for users meeting the capped amount, simplifying the claiming process and reducing exposure to potential fraud for its users.
Uphold’s Continued Support for XRP
Despite challenges, including delisting from several exchanges following the SEC’s lawsuit against Ripple Labs, Uphold has remained a steadfast supporter of XRP. Earlier this year, in response to a social media trend advocating for XRP’s relisting, Uphold underscored its commitment by highlighting that XRP has never been delisted from its platform. This ongoing support, coupled with the recent Evernode airdrop, underscores Uphold’s dedication to the XRP community and the broader cryptocurrency ecosystem.
The distribution of Evernode tokens by Uphold to eligible XRP holders not only signifies a milestone in the XRP Ledger’s evolution but also reinforces the exchange’s role as a key player in the cryptocurrency space. As this initiative unfolds, it will be intriguing to observe the impacts on the XRP ecosystem and the broader adoption and development of decentralized applications on the XRP Ledger.
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