{"id":10571,"date":"2024-02-09T15:07:57","date_gmt":"2024-02-09T13:07:57","guid":{"rendered":"https:\/\/forklog.com\/en\/ripple-cto-criticizes-robin-hood-token-concept\/"},"modified":"2024-02-09T15:07:57","modified_gmt":"2024-02-09T13:07:57","slug":"ripple-cto-criticizes-robin-hood-token-concept","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/ripple-cto-criticizes-robin-hood-token-concept\/","title":{"rendered":"Ripple CTO Criticizes &#8216;Robin Hood&#8217; Token Concept"},"content":{"rendered":"<p>The concept of issuing &#8216;Robin Hood&#8217; tokens based on the community-approved XLS-39 amendment is not without its flaws, according to Ripple&#8217;s Chief Technology Officer, David Schwartz.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">I *love* that idea.<\/p>\n<p>\u2014 David &#8220;JoelKatz&#8221; Schwartz (@JoelKatz) <a href=\"https:\/\/twitter.com\/JoelKatz\/status\/1755755576561402359?ref_src=twsrc%5Etfw\">February 9, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The Ripple CTO expressed his &#8220;love&#8221; for the idea. This was his reaction to the concept of &#8216;Clawback-enabled tokenomics&#8217; proposed by senior Ripple Labs programmer Neil Hartner.<\/p>\n<p>The proposal involves redistributing assets from the top 10% of holders to the poorest 90% at random intervals.<\/p>\n<p>The mentioned XLS-39 Clawback introduced a new level of token control for the XRP Ledger in version 1.12.0. The amendment allows issuers to &#8216;claw back&#8217; assets for account recovery or in cases of suspected fraudulent activity.<\/p>\n<p><script async src=\"https:\/\/telegram.org\/js\/telegram-widget.js?22\" data-telegram-post=\"rippleweb\/5465\" data-width=\"100%\"><\/script><\/p>\n<p>Schwartz agreed with XRP Ledger developer Wietse Wind, who noted that holders of a significant portion of tokens could distribute them across multiple accounts, thus circumventing the XLS-39 &#8216;clawback&#8217; mechanism.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Yeah. And I guess if people for some reason did want to hold a lot of it, they&#8217;d just do it in several accounts. Too bad. It seemed kind of cool.<\/p>\n<p>\u2014 David &#8220;JoelKatz&#8221; Schwartz (@JoelKatz) <a href=\"https:\/\/twitter.com\/JoelKatz\/status\/1755756506300178492?ref_src=twsrc%5Etfw\">February 9, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Hartner countered by suggesting the use of &#8216;authorized trust lines&#8217; to combat abuse. In response, Wind, with a touch of irony, proposed to &#8220;broaden the scope of this thought experiment.&#8221;<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The workaround that keeps on coming back ?<\/p>\n<p>But yeah, I agree, it would be fun. Maybe we should broaden the scope of this thought experiment ??<\/p>\n<p>\u2014 WietseWind (?+? Xumm @ XRPL Labs) (@WietseWind) <a href=\"https:\/\/twitter.com\/WietseWind\/status\/1755756997784338504?ref_src=twsrc%5Etfw\">February 9, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The debates surrounding the feasibility of Hartner&#8217;s proposal highlight broader questions about the effectiveness and practicality of implementing feedback mechanisms in tokenomics, as noted by <a href=\"https:\/\/u.today\/ripple-cto-explains-why-this-robinhood-token-idea-is-not-good\">U.Today<\/a>.<\/p>\n<p>Earlier in February, Cinneamhain Ventures managing partner Adam Cochran accused the team behind the DEX aggregator Jupiter of dumping their own asset, JUP. In response, the project&#8217;s founder called the criticism &#8220;fig posting with zero facts.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The concept of issuing &#8216;Robin Hood&#8217; tokens based on the community-approved XLS-39 amendment is not without its flaws, according to Ripple&#8217;s Chief Technology Officer, David Schwartz. I *love* that idea. \u2014 David &#8220;JoelKatz&#8221; Schwartz (@JoelKatz) February 9, 2024 The Ripple CTO expressed his &#8220;love&#8221; for the idea. This was his reaction to the concept of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":10570,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1376,130,112,1258],"class_list":["post-10571","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-david-schwartz","tag-decentralization","tag-ripple","tag-tokenomics"],"aioseo_notices":[],"amp_enabled":true,"views":"32","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/10571","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=10571"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/10571\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/10570"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=10571"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=10571"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=10571"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}