Ripple shareholder and founder of Dizer Capital, Yassin Mobarak, has raised his dissatisfaction with the current state of growth and development in XRP. Mobarak believes that XRP holders have been sold a false dream and may face losses after holding the cryptocurrency for a long time.
XRP Community Reacts to Recent Developments
The departure of two significant validator operators in the XRPL ecosystem has sparked discussions within the XRP community. In response to these events, Mobarak criticized Ripple’s management of its ecosystem and the decline in the value of the XRP token.
Desire for Ripple’s Success Without Neglecting XRP Holders
Mobarak clarified that he wants Ripple to succeed but not at the expense of XRP holders who have invested in and supported the cryptocurrency for years. He expressed concern for their potential losses if Ripple’s management fails.
Ripple’s Profit-Oriented Approach
A member of the X community pointed out that Ripple’s primary objective is to make profits. This individual revealed that Ripple does not have noble intentions towards its investors and will continue to leverage XRP and the XRP Ledger for financial gains.
Criticisms of Ripple’s Ecosystem Management
Mobarak highlighted alleged failings in Ripple’s ecosystem management and criticized its use of an escrow account, which he believes provides no benefit to the ecosystem or the public ledger. He expressed disappointment in how Ripple has handled its programmable transfer of value.
Ripple Accused of Mishandling Incentives
Mobarak voiced concerns about Ripple’s approach toward providing incentives for XRPL validators. This comes after the announcement that Alloy Networks, a prominent validator and XRPL contributor, would be exiting the network. Another X handle, “Fomo,” also declared its decommissioning of two major mainnet nodes.
Challenges with Ripple’s No-Incentive Approach
Mobarak accused Ripple of mishandling the incentives concept in the XRPL ecosystem. Another volunteer of the XRPL network, Nik Bougalis, stated that Ripple’s no-incentive approach for validators has been worn thin by misuse and repetition.
Hot Take: Concerns Over XRP’s Future
Yassin Mobarak’s expression of discontent highlights growing concerns within the XRP community regarding Ripple’s management and the future of XRP. As a shareholder, Mobarak desires success for Ripple but not at the expense of long-term XRP holders who may face losses. The recent departures of significant validator operators have intensified these concerns. Critics argue that Ripple’s profit-oriented approach and alleged mishandling of incentives are hindering the growth and development of XRP. These issues raise questions about the viability and potential risks associated with holding XRP in the long term.
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