Ripple's Technical Director Explains Why Robinhood Token Idea May Not Be a Good One
Date: 2024-02-09 Author: Dima Zakharov Categories: BUSINESS
Integration of the new amendment called Clawback (XLS-39) in the XRP Ledger has allowed issuers to retrieve tokens distributed to accounts. While this update has sparked various discussions in the XRPL community, one notable conversation revolves around the concept of "Clawback-supported tokenomics" proposed by Neil Hartner, a senior staff engineer at Ripple.
Hartner suggested creating the Robinhood token (RHD), envisioning a redistribution of tokens from the top 10% holders to the bottom 90% with random intervals. However, Ripple's technical director and co-author of the XRP Ledger, David Schwartz, expressed skepticism about this idea, sarcastically stating, "I love this idea."
Adding to the discussion, XRPL developer Witsa Wind questioned the necessity of accumulating large quantities of such tokens, drawing parallels with the spirit of the legendary Robin Hood. Wind implied that a true Robinhood token, like its namesake, would inherently hold value for its users, eliminating the need for excessive accumulation.
Schwartz reiterated Wind's opinion, suggesting that individuals desiring a significant number of tokens could easily distribute them across multiple accounts, thereby circumventing the proposed refund mechanism.
Essentially, debates surrounding the feasibility and desirability of Hartner's proposal underscore broader questions about the effectiveness and practicality of implementing feedback mechanisms in token ecosystems.
