Uphold, a cryptocurrency exchange supporting XRP, now disburses Evernode (EVR) tokens to eligible XRP Ledger holders. This follows Evernode's registration for the much-awaited airdrop, encompassing over 423 million XRP tokens deemed eligible after a September 1, 2023 snapshot.
Uphold simplifies the distribution process, enhancing user trust and security
Uphold's involvement in the distribution process not only simplifies it but also enhances user trust and security. By sparing users from additional transactions for token claims, Uphold mitigates the risk of potential fraud often associated with direct blockchain claiming. This streamlined approach ensures a more efficient and reliable distribution process, fostering a positive experience for users within the XRP ecosystem.
Evernode introduces smart contract integration via Hoops on the XRP Ledger, enhancing the efficiency of the XRP ecosystem
Evernode's introduction of smart contract integration via Hoops on the XRP Ledger marks a significant advancement in blockchain technology. This innovative approach enables developers to harness the full potential of decentralized applications (dApps) on a sidechain, fostering greater scalability and efficiency in the XRP ecosystem. Additionally, the utilization of EVR as the native currency further enhances the ecosystem's utility and interoperability, paving the way for a new era of decentralized finance (DeFi) solutions.
Uphold's airdrop ensures fair EVR distribution to XRP holders.
This structured distribution model by Uphold ensures fair and proportional allocation of Evernode tokens to eligible XRP holders. By offering a fixed rate of 0.002089 EVR per XRP token held, Uphold maintains consistency and transparency throughout the airdrop process. Moreover, the imposition of a cap at 50,000 XRP prevents disproportionate rewards while still enabling users to benefit significantly from their holdings. Consequently, users have the opportunity to maximize their rewards, with those holding the maximum cap potentially receiving up to 104.4 EVR tokens.
Uphold expressed support for the relisting of XRP on social media platforms
Uphold has consistently affirmed its backing for the XRP Ledger's native token. Earlier this year, amidst calls for XRP relisting on trading platforms, Uphold reiterated its support on social media platforms.
Despite the SEC's lawsuit against Ripple Labs, Uphold still maintains the listing of XRP
Despite the delisting of XRP from various exchanges due to the SEC lawsuit against Ripple Labs in 2020, Uphold demonstrated resilience by retaining XRP listing. Uphold's decision to maintain XRP listing underscores its commitment to providing continuity and stability to its users amid regulatory uncertainties. Uphold's stance reflects a cautious approach, awaiting the resolution of the lawsuit and seeking regulatory clarity before making any significant changes to its offerings.