New XRP Utility Coming with Single-sided XRP Staking on The Root Network

Crypto Eri, a prominent figure in the XRP community, has disclosed that significant advancements are on the horizon to introduce more utility for XRP.

In a recent tweet, Crypto Eri shared details about the coming of a game-changing feature in the form of “single-sided XRP staking” on the Futureverse. “More New XRP Utility Coming,” she remarked.

👀More New XRP Utility Coming
Single-sided $XRP staking on the Futureverse @TheRootNetwork with the launch of the DEX. @MoaiFinance, a Universal Gateway to the Multi-chain Liquidity has paired #XRP to $USDC, $Root and others. https://t.co/JaTO6KUTXq

— 🌸Crypto Eri 🪝Carpe Diem (@sentosumosaba) November 30, 2023

Supercharging XRP for Holders

The coming XRP staking on The Root Network is anticipated to provide XRP holders with additional opportunities to engage with the crypto ecosystem, enhancing the utility of XRP. 

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Notably, the update from Crypto Eri built on a statement from Aaron McDonald, the founder of Futureverse, the team behind The Root Network, in a recent X space discussion.

During the conversation, McDonald highlighted the evolution of XRP’s utility, arguing why the coming staking feature is paramount. He noted that XRP’s utility has historically been somewhat one-dimensional, primarily focused on payments.

While acknowledging the strength of this use case, he stressed the need to expand the horizons of XRP’s capabilities. Specifically, he expressed enthusiasm about ‘supercharging’ XRP’s utility for holders via The Root Network.

He highlighted that XRP users can leverage a broader range of applications facilitated by smart contracts on The Root Network. Notably, one of the key players in this development is the upcoming Moai Finance DEX.

Specifically, Moai Finance is launching on The Root Network. Crypto Eri highlighted that Moai Finance is a universal gateway to multi-chain liquidity, adding that the platform has paired XRP with USDC, Root, and other cryptocurrencies. 

Single-sided XRP Staking

In honor of the Moai Finance debut on The Root Network, the team has invited XRP holders to partake in a “Voyage to the Future.” Participating in the expedition allows XRP holders to contribute early liquidity to The Root Network by staking their tokens.

In return, they will receive exclusive access to MOAI token pre-mining as well as the ROOT token rewards. Per the Moai Finance roadmap, the MOAI token will be unveiled early next year.