Create a Bridge for XRP

Feedback, Suggestions & Questions
#1

Hi ICON Community,

Today I see a great opportunity. The price of XRP is being heavily suppressed due to the SEC securities lawsuit. A coin that has been notoriously in the top 3 is barely hanging on to the top 10. So many large token holders not generating additional income due to the lack of a DeFi Network and are hoping the coin simply goes up in price.

As a solution they are looking to the FLARE Network which has been ready to “launch” for the over a year now. XRP holders have yet to receive their airdrop and the community is getting restless, looking for the next best option to generate additional income on their bags.

Considering this is one of the largest communities on Twitter and in the crypto-ecosystem in general, ICX/BALN holders can benefit greatly from this opportunity. We are not only making BALN more diverse but onboarding a whole community in the process. Not to mention the publicity and positive marketing this can generate.

Thoughts?

Sincerely,

IMB

#2

I haven’t kept up with XRP over the years, but I don’t think they have smart contract support at the moment. In order for a non-ICON asset to be added on Balanced, it would need to be compatible with BTP which requires smart contract support. Another option is wrapping XRP using a third-party service that is compatible with ICON (e.g. Orbit Bridge, but I’m not aware of any service that does this for XRP).

#3

What @bwhli said. Overall I’d have no issue with it. Also this is more about ICON core protocol than balanced specifically. The community can add any tokens they want so long as they are available on the ICON Network

#4

Appreciate the response. I will look into Orbit and send the BTP github over to some developers that work on the XRPL to see if it is possible. Will let you know what I hear.

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