The elephant in the room is clear for the XRP ecosystem, let me explain:
Firstly, before I get threats in the DMs again or hate: a thriving XRPL is in my best interest and in the interest of the businesses I am operating. I am not trying to FUD your bags; I am trying to state the problems so we can fix them before it is too late.
- Every project's success is dependent on Ripple's support. Some call this centralization; some call this an imbalanced Layer 1 economy. As a founder of multiple projects on the XRPL, I have experienced both sides. There is not a single successful project on the XRPL that didn't receive support from Ripple (if there even is a successful project at all. Yes, compared to others on the XRPL, but not compared to the broader crypto market)
- The politics at hand are making things worse. I can't share everything because many founders tell me stuff in private, which has to be respected, and it's up to them to speak up (which I hope they will sooner rather than later). You may not see it, and you may think everything is pixel perfect, but the harsh reality is that everything is a political game. What happened to the XRPLF, which is unfunded yet still carrying a massive load of running infra? Why is XRPL Commons suddenly popping up everywhere and what is the purpose of this entity? Why is no one from the XRPLF speaking at Apex? No, they didn't rug your bags; they are good people trying to do good things for a lot of people, while another party is reaping the benefits of these actions: an increase in demand, is more USD in XRP sales, is more money for shareholders. Foundation > for profit in Layer 1 economics
- Limitless promises, but zero to show for. The ecosystem was promised 1 billion in funding and the NFT space an additional 250m through the creator fund. How much of this money was spent? 14m in total over a course of more than 2.5 years. I know founders, including myself, who started building on the XRPL because of this promise. 1.250B in funding is bullish, using it as marketing without actually realizing even 10% in 2.5 years (which is about 25% of the age of the ledger), is not bullish. Additionally, almost every project was made promises. All these promises are well documented by everyone and I have seen the emails, chats, etc. I have experienced these promises. Why is it too much to ask for someone to just stick to their word, or at least try to stick to their word? Some promises can be too enthusiastic, but at least try to keep your word.
No, I am not asking for funding; I am asking to keep a promise that was made 2.5 years ago so we can operate in a successful ecosystem. Regardless of XPUNKS leaving, we still have onXRP and UNIX; a well-funded ecosystem is needed for those projects to survive. I am happy if none of these projects ever get funded by Ripple, but the ecosystem does.
- A lack of knowledge of crypto culture and a lack of care about the ecosystem. RippleX and its "beloved" community team, who have ETH NFTs as profile pictures (ultra bullish), have no idea what they are doing. They are supposed to take care of the ecosystem, yet you have @BiasGoose blocking a crazy amount of people and the largest projects. It almost seems that children are in charge of creating a healthy ecosystem. Only friends of his get funded; people he doesn't like get blocked and FUDed internally (a multitude of Ripple employees told me this in good faith).
How can we solve these problems?
- Give the XRPLF the billion that was promised to the ecosystem with clear terms that protect the money.
- Create a project-based DAO that has a voice in how this money is spent.
- Implement Hooks on the mainnet; it is tested through Xahau, stop the nonsense, and execute.
- Fund projects to launch and extend their runway.
- Market everything, especially success stories.
It's not rocket science. Do the above, and the XRPL will be competitive within 3 months.
Devs, businesses and buyers will come.
XRP will pump.
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