Bitrue, a well-known advocate for XRP, has rolled out a series of enticing features designed to cater to XRP enthusiasts who utilize their platform. The exchange has just announced the launch of a minting option for the upcoming XAH utility token on the XRP Ledger-based Xahau network.
In a recent statement, Bitrue declared the availability of XAH minting and encouraged users not to miss the opportunity to become one of the first XAH token holders. You can find more details on Bitrue’s official X handle
Minting XAH Tokens Using XRP
XRP enthusiasts now have the exciting option to mint XAH tokens by utilizing their XRP holdings. This process is made possible by locking XRP tokens within Bitrue’s minting portal.
According to Bitrue’s notification, the locking process will extend over seven days, providing users with the opportunity to exchange their XRP for XAH tokens through a process referred to as “burning” their XRP. Bitrue has provided users with the assurance that they will process all the XRP tokens they lock at the event’s conclusion.
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Following the processing, participants can anticipate receiving an equivalent amount of XAH tokens to the XRP they initially locked. However, it’s essential to note that the final distribution amount may vary slightly. The minimum amount of lockable XRP is set at 20 tokens.
Notably, Bill Morgan, a prominent legal advocate for XRP, has disclosed his participation in the XRP-XAH minting event on Bitrue. While he mentioned giving it a try with a small amount of XRP, he expressed his ongoing interest in holding XRP.
Opportunity to Earn XAH Tokens
Bitrue also emphasized that the Xahau Ledger actively incorporates a monthly balance adjustment system, allowing it to reintroduce a portion of the XAH tokens, previously burned as transaction costs, back into circulation.
This means active users stand to gain a balance increase of approximately 0.34% based on their monthly average balance, effectively resulting in a 4% Annual Percentage Yield (APY).
Bitrue highlighted that users engaging in its XAH minting campaign will automatically gain access to the APY feature offered by the Xahau Ledger.
Certainly, XRP enthusiasts will warmly embrace these new features. They not only provide thrilling opportunities but also actively encourage participation in the XAH ecosystem, enabling users to earn rewards along the way.