Bitrue, a Singapore-based cryptocurrency exchange, recently made an unexpected announcement that caused a stir in the XRP community. Bitrue concluded Xahau’s XAH Mint Event and made a significant change in its approach.
During the Mint channel period initiated by Bitrue, users were encouraged to burn their XRP holdings on the exchange in exchange for an equivalent amount of XAH on the Xahau network.
Bitrue explained that users could participate in the XAH minting process by locking their XRP tokens. After the event’s conclusion, the locked XRP tokens were meant to be extracted for burning on the mainnet, and the equivalent amount of XAH would be distributed to the participants. However, this raised questions and concerns among the XRP community regarding the fate of the locked XRP tokens.
Bitrue responded to these concerns by deciding to refund all the locked XRP tokens to their respective users’ accounts. This unexpected reversal provided hope and relief to those who were uncertain about the fate of their assets during the event.
The decision by Bitrue has sparked various reactions from the XRP community, with some praising the exchange’s responsiveness to user concerns and others considering the implications of this change for future events. The impact of this decision on the ongoing developments within the XRP ecosystem and its relationship with the burgeoning Xahau network remains to be seen.