Ripple launches incentive program to increase adoption of XRP



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San Francisco-based Ripple has been quietly focusing on expanding its partner network and increasing the use and adoption of its native token, the XRP. The latest initiative is a RippleNet accelerator program that provides financial incentives to institutions that help promote Ripple's payment system.

The financial technology company acquired $ 300 million in XRP from its own stakes to fund the accelerator program. According to the company's blog, the program consists of a "Volume Discount and an Adoption Marketing Incentive".

Volume rebate is an incentive that offers XRP rebates to RippleNet members who have met certain milestones in terms of volume of transactions processed. The ad adds that reimbursements can cover between 50% and 300% of integration fees and first year license fees. It can be obtained in XRP or USD, but the resale of chips will be restricted to "supporting healthy XRP markets".

The second part of the initiative is an incentive to the adoption market that rewards members who promote Ripple services to other companies. RippleNet members will receive tools and marketing materials to help expand the ecosystem. Ripple's vice president of marketing, Monica Long, compared the initiative to the early days of PayPal;

"We're lending a page to sites like PayPal (with early adoption and referral bonuses), implementing incentives to accelerate network effects on RippleNet." As we're offering the incentives in XRP, we expect to see an added benefit of creating easy access to institutions to use XRP in their payment streams to reduce the cost of liquidity in the future.The early receipt of these XRP incentives in a test phase was very positive. "

US $ 535 million sold in 2018, claimed market limit claim

According to a separate report, Ripple sold $ 535.5 million in 2018, with $ 129 million in the fourth quarter. The breakdown of the report added that $ 40 million was sold to institutional investors in the fourth quarter, while $ 89 million was sold through third parties, such as encryption exchanges. The institutional share was less than half the volume sold in the same quarter of the previous year.

Recently, an analyst firm questioned Ripple's market capitalization allegation that it could be inflated. The company claims that Ripple's market cap could exceed $ 6 billion, which would effectively represent half of the current value of $ 12.5 billion, according to Coinmarketcap. At the time of writing, XRP was trading at a low of 4% on the day at $ 0.30.

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