Meme Coin

XRPL Validator Vet Confirms Feasibility of Meme Tokens on XRP Ledger Amid Growing Trend

Published

1 year ago

July 29, 2024

DCS Team

XRPL validator Vet confirms the feasibility of launching meme tokens.
Builders are actively working to enhance the infrastructure for launching meme cash on XRPL.
Vet believes that liquidity wouldn’t be a problem for meme cash on XRPL.

In a current put up on

You may also launch meme cash on the XRP Ledger.

Equally, the tooling on this facet is just not nice on the XRPL, however that’s fixable and builders are engaged on it.

— Veterinarian 🏴‍☠️ (@Vet_X0) July 28, 2024

Vet acknowledged that the present infrastructure for launching meme cash on XRPL is just not as superior as on different platforms. Nonetheless, he famous that builders are actively working to enhance this facet.

These tooling enhancements are anticipated to make the method extra environment friendly and user-friendly, in the end attracting extra tasks to the XRPL.

In the meantime, Vet’s revelation has sparked wild reactions throughout the crypto group. X person Mordecai steered: “Possibly it is best to maintain the memes on XRPL to a minimal. Act just like the adults within the room.” The XRPL validator responded by noting that having meme cash inside a blockchain is a defining characteristic of public networks.

Nonetheless, one other Vet responded that the recognized situation would even be resolved sooner or later.

Furthermore, the concept of meme cash on XRPL arouses curiosity concerning the market. One commenter emphasised that it will be enjoyable to see how automated XRPL market makers would deal with pumps and dumps.

In response to Vet’s assertion that XRPL’s present instruments for launching meme cash are insufficient, one commenter expressed disagreement, emphasizing that “there are already sufficient instruments on the XRPL.”

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Then again, Vet emphasised that liquidity wouldn’t be an issue for meme cash on XRPL, relying on the loyalty of followers in profitable meme coin launches. He thinks XRP influencers, with their substantial follower bases, can increase liquidity by selling these new tokens.

Primarily, the launch of meme cash on the XRP Ledger would mark a notable shift within the XRP group, probably opening up new alternatives for traders, as seen with the Solana chain.

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