@Bitforcoinz To be consitered a commodity and be in compliance with the Clarity Act, Ripple must own a max of 30% of XRPs total supply.
Right now, @Ripple owns 42%, roughly 42 billion tokens out of the 100 billion maximum supply, a majority of these holdings are in escrow.
@Bitforcoinz To be consitered a commodity and be in compliance with the Clarity Act, Ripple must own a max of 30% of XRPs total supply.
Right now, @Ripple owns 42%, roughly 42 billion tokens out of the 100 billion maximum supply, a majority of these holdings are in escrow.
$65,000,000 raised.
Three projects.
Three rugs.
be Jeremy Horn
- ex-Ubisoft, Gameloft, Jam City, FunPlus
- generated $1.5B+ in revenue for other people's games
- co-founded Xterio, founded Overworld, launched Palio
- gave Token2049 panels about AAA Web3 gaming vision
three projects.
same formula.
same exit.
PROJECT 1: XTERIO
- $40M SAFT: FunPlus, Makers Fund, Animoca, HashKey
- $15M more from Binance Labs alone
- $55M total raised. Switzerland HQ.
- promised AAA Web3 gaming across 50+ titles
XTER token launched January 2025 at $420M FDV
- dumped immediately after airdrop on Binance
- ATH: $0.5983. Today: $0.0158
- down 97.4% from ATH
Jeremy was the COO.
PROJECT 2: OVERWORLD
- $12.5M raised: Hashed, Spartan, Sanctor, Galaxy, Xterio
- "cross-platform MMORPG, PC, console, mobile"
- closed alpha promised Q4 2023
- never came
the WL grind:
- 6 weeks daily Twitter posts proving you were "Worthy"
- SesameLabs quests, 3,000+ points minimum
- months of unpaid free marketing labor
- then Jeremy called grinders "extractors" and removed their WLs publicly
what the community didn't know:
- 3,000 of 6,000 NFTs pre-sold to partners before public mint
- 50% of supply gone before community saw one spot
- 420%+ overallocation on remaining 2,100 spots
- sold out in under 60 seconds
- $800,000 in failed gas
- 1,686 failed transactions
- community got nothing
then instead of a game
they built this:
the Overworld Arena "game" ponzi:
- $100K USDT prize pool, 1M MNCT token rewards
- no gameplay footage released
- no videos, no strategy possible, no info
- battles run automatically, no skill involved
the ponzi mechanics:
- need energy to battle, energy refills over time
- want more energy? pay ETH to top up
- Incarna NFT holders get boosted stats
- partner NFT holders get boosted stats
- no NFT? you are the exit liquidity
"Players can top up energy and Arena Coins with ETH
which increases the total value of the ETH prize pool"
Translation:
โPay ETH to compete against people who paid more ETH for NFTs that give them better statsโ
in a game with no gameplay footage
that's not a game
that's a slot machine with anime art
MNCT token launched 2025:
- listed, immediately dumped
- no real game ever shipped
- battle pass sold for a game that never arrived
PROJECT 3: PALIO
- Xterio's "flagship AI companion game"
- Palio Aura NFTs sold for early access
- PAL token IDO launched July 2025 via Binance Wallet
- listed, immediately dumped
Xterio โ $55M raised โ XTER down 97.4%
Overworld โ $12.5M raised โ ponzi arena instead of game
Palio โ IDO dumped โ AI pet nobody plays
community paid with:
- months of free labor grinding WL
- $800K in failed gas transactions
- ETH topping up energy in a stat-boosted ponzi
- battle passes for a game that never shipped
Jeremy shamed the grinders
- called them extractors
- removed their WLs
- then built an arena where you pay ETH to fight people with better NFT stats in a game with no gameplay footage
who was actually extracting?
Three projects.
Three raises.
One man who called his own community the problem.
Letโs have some fun โฆ
Step #1 take the quiz https://t.co/3MeaxY1xf5
Step #2 share with me which character u got via reply or image screen shot
Step #3 in your reply add your Eth wallet address
@mrnguyen007 Ripple's Situation:
Ripple currently holds approximately 45% of the total XRP supply (mostly in escrow). To meet the "mature blockchain" criteria under the Act's current language, Ripple would likely need to reduce its holdings significantly.
@mrnguyen007 The 20% Rule:
To qualify for the commodity classification (which moves oversight from the SEC to the CFTC), the issuer or controlling entities cannot hold more than 20% of the total supply.