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Bitrue, recognized for its steadfast support of XRP, has rolled out an exciting feature designed to cater to XRP enthusiasts within its user base. The exchange recently unveiled the option to mint XAH utility tokens for the forthcoming Xahau network, which operates on the XRP Ledger. This development opens up new possibilities for XRP holders.
XAH Minting on Bitrue
In an official announcement, Bitrue proudly announced the initiation of XAH minting, inviting users to become early adopters of this digital asset. The exchange encouraged users not to miss the opportunity to become among the first XAH token holders.
How to Mint XAH with XRP
The minting process allows XRP enthusiasts to transform their XRP holdings into XAH tokens. To achieve this, users must lock their XRP tokens through Bitrue's minting portal. The locking period spans seven days, during which XRP can be exchanged for XAH tokens through a process described as “burning” XRP. Bitrue assured users that all locked XRP tokens would be processed at the end of the event.
Participants can anticipate receiving an amount of XAH equivalent to the XRP they minted, with a minor variation possible. Importantly, the minimum amount of lockable XRP is set at 20 tokens.
Notable Participation
Bill Morgan, a prominent legal counsel known for his pro-XRP stance, revealed his involvement in the XRP-XAH minting on Bitrue. While he mentioned testing the waters with a small XRP amount, he emphasized his general preference for holding XRP.
Additional Earning Opportunity
Bitrue also highlighted a unique feature of the Xahau Ledger—a monthly balance adjustment system. This system reintroduces a portion of the XAH tokens burned through transaction fees, effectively enabling active users to claim a balance increase equivalent to approximately 0.34% of their monthly average balance. This translates to an Annual Percentage Yield (APY) of 4%.
Participation in Bitrue's XAH minting campaign automatically grants users access to the Xahau Ledger's APY feature, enhancing the overall earning potential.
Bitrue's introduction of XAH minting for XRP holders demonstrates the exchange's commitment to providing innovative opportunities for its users. This feature not only enables XRP enthusiasts to diversify their holdings but also rewards active participants with the potential for additional gains through the Xahau Ledger's APY system. As users explore this exciting avenue, they should conduct thorough research and exercise caution, as the cryptocurrency space inherently carries financial risks.
