Dinar Recaps

View Original

Seeds of Wisdom RV and Economic Updates Wednesday Evening 10-2-24

Good Evening Dinar Recaps,

MELD GOLD LAUNCHES GOLD AND SILVER-BACKED STABLECOINS ON XRP LEDGER, LEVERAGING NATIVE FEATURES

▪️The first transaction of tokenized gold and silver was made on the XRP Ledger on September 29 after Ripple and Meld Gold disclosed their collaboration months ago.

▪️According to the original plan, two stablecoins fully backed by gold and silver were supposed to be fully rolled out in the third quarter of the year (Q3 2024).

In June, CNF reported a groundbreaking collaboration between Meld Gold and Ripple that was meant to deliver fungible gold and silver assets on the XRP Ledger (XRPL). On September 29, the first transaction on the mainnet finally went through, with the subsequent rollouts expected this month, October.

🚨 JUST IN: MELD GOLD CONFIRMS TOKENIZED GOLD ON $XRP LEDGER—First transaction went through yesterday and a further rollout will happen through October.” — @meldgold 🙌Meld Gold will release two new stablecoins on XRP Ledger, backed by Gold & Silver.

 Each token will… https://t.co/HmYs3tsVnM pic.twitter.com/wAUgCaXnMM— Good Morning Crypto (@AbsGMCrypto) October 1, 2024

Drawing insight from our previous publicationthe collaboration between Meld Gold and Ripple primarily sought to enable greater access, efficiency, and utility to Real-World Assets (RWAs).

The plan was to offer institutional-grade functionality and built-in features to ensure more secure, efficient, and scalable financial services and use cases.

According to our press release review, the original plan was to release two new stablecoins on the XRPL backed by gold and silver. Specifically, each token was reported to represent 1kg of these metals that leading custody providers would hold – MKS Pamp and Imperial Vaults.

 In that report, Meld Gold CEO Michael Cotton disclosed that his team is very well-versed in every component of the supply chain and would contribute massively to the expected RWA revolution.

Our team of industry experts has deep experience in every component of the supply chain, from origination, certification, and logistics, to storage and insurance.

Our passion for disrupting and advancing digital ownership is ideal for the coming RWA revolution. This is the industry, delivering the systems only they could design, to bring the physical world on-chain.

What Meld Gold Seeks to Achieve with XRPL Integration
According to Meld Gold, its offer of the world’s most accepted assets on-chain would certainly redefine the XRPL’s Decentralized Finance (DeFi) ecosystem.

With this, both new and old users would leverage the XRPL’s native features, which include Decentralized Exchange (DEX) and Automated Market Maker (AMM).

Over the years, Meld Gold has closely worked with precious metals in its quest to provide infrastructure for a successful transition of assets on-chain. According to a blog post, with the first transaction reportedly successful, the subsequent months are expected to witness additional upgrades.

This would include the “implementation of patent-pending work on minimized trust systems for connecting physical items to the blockchain.”

Utilizing blockchain technology offers significant advantages, such as immediate global accessibility, simple and secure ownership accountability, and standardized data rails for interoperability and velocity. 

A key component, often overlooked, is how the assets are connected to the blockchain and precisely how they are accounted for. Precious metals, being physical assets, always require trust, but minimizing this to only the required level is crucial.

Recently, Ripple announced that its yet-to-be-launched RLUSD stablecoin on the XRPL has reached an advanced phase, with 99% of its total supply minted. As we reported, 800,000 new tokens have been created after 100,000 tokens were generated several months ago.

@ Newshounds News™

Source:  Crypto News Flash

~~~~~~~~~

RIPPLE UNVEILS SIMPLIFIED VAULT AND LENDING UPDATES ON XRP LEDGER

▪️Ripple simplifies asset management on the XRP Ledger with updates to the Vault and Lending Protocols.

▪️Meld Gold partners with Ripple to introduce tokenized gold and silver assets on the XRP Ledger.


In a tweet, Ripple has announced significant improvements to its Vault and Lending Protocols, paving the way for more efficient and user-friendly operations on the platform. These modifications are part of a larger goal to improve asset management and lending operations in the XRP Ledger (XRPL) ecosystem, which benefits both developers and users.

Streamlined Asset Management and Lending on the XRP Ledger
According to the statement, the XLS-65d Single Asset Vault (SAV) has been significantly redesigned, reducing its structure to increase overall efficiency. The revised design removes two previously required transactions, allowing the Vault to store assets directly.

This update is designed to make asset management faster and more cost-effective for users by eliminating unnecessary processes that previously hindered the process.

Meanwhile, the XLS-66d Lending Protocol has been revised to reflect these Vault modifications. Previously, users had to go through many processes to deposit and redeem assets, but the revised protocol eliminates these extra steps completely.

This streamlined approach greatly minimizes friction for users, resulting in a more seamless lending experience inside the XRPL ecosystem.

One of the primary points mentioned by Ripple is its compliance-first strategy. Both the Vault and Lending Protocol improvements are intended to simplify and integrate Clawback and Freezing requirements.

These modifications ensure that the protocol complies with industry rules while also making it easier for users to traverse the platform. By tackling these regulatory concerns square on, Ripple hopes to boost trust in its ecosystem, particularly among institutional users looking for a compliant blockchain solution.

In addition to Ripple’s recent improvements, the XRP Ledger is evolving through collaboration and innovation. According to a prior CNF report, Meld Gold has teamed with Ripple to launch tokenized assets representing gold and silver on the XRPL.

The initial objective is to introduce two stablecoins backed by these precious metals, which will increase the XRP Ledger’s use cases. This move is a huge step forward in integrating real-world assets to the blockchain, giving consumers a concrete connection to gold and silver while remaining inside the XRPL’s decentralized infrastructure.

On the other hand, as we previously noted, Xaman Wallet version 3.0 has added a revenue-sharing model to help XRPL developers and improve the whole ecosystem.

The most recent upgrade includes several important features, including a threshold-based paradigm, universal transaction signing, and increased developer and user accessibility. These upgrades aim to make the XRPL ecosystem more accessible and developer-friendly, fostering innovation and growth.

Meanwhile, as of writing, XRP is trading at $0.6014, down 3.18% over the last 24 hours. This fall has taken XRP’s market cap back under $35 billion.

@ Newshounds News™

Source:  
Crypto News Flash

~~~~~~~~~

EXPLAINED TOKENOMICS - WHAT IS TOKENOMICS AND WHY DOES IT MATTER? | Youtube

@ Newshounds News™

Source:  
Seeds of Wisdom Team RV Currency Facts   

~~~~~~~~~

Newshound's Currency Facts Youtube and Rumble

Newshound's Podcast Link

Newshound's News Telegram Room Link

Q & A Classroom Link  

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Subscribe to Newsletter

Thank you Dinar Recaps