Panos, co-founder and CEO of Anodos Finance, shared his long-term bullish stance on XRP and the XRPL on February 20. Having been part of the ecosystem for over a decade, he emphasizes the need for honesty about its current state.
Despite its loyal community, the XRPL ecosystem shows worrying signs of stagnation. Daily decentralized exchange volumes remain under $10 million, while the Automated Market Maker (AMM) total value locked struggles below $50 million, two years after its launch.
Talent is leaving faster than talent is joining, and there is low interest from venture capital. Panos states that most investors and top talent view XRPL as an inactive chain, with low liquidity and few users.
Even with XRP ETFs and upgrades, he states that without larger structural changes, XRPL could be left behind as Solana, Base, and Avalanche move forward aggressively.
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A $1 Billion Strategy to Reignite Growth
Panos had a clear plan regarding the $1 billion XRPL ecosystem fund by Ripple from 2022. There are four grant tracks to accelerate innovation and adoption. The Genesis Fund provides rapid grants ranging from $10K to $50K for new developers and startups to get started.
The Scale-Up Accelerator offers funding of as much as $1 million to projects that are making tangible progress. It offers funding, as well as mentorship, development assistance, and marketing support.
The Exodus Migration Fund allocates $100 million to migrate successful dApps from other blockchains to the XRPL.
The Global Exposure Fund provides grants of up to $1 million to projects that increase mainstream exposure through campaigns, sponsorships, and XRPL-related events.
The purpose is to provide liquidity, talent, and active users while demonstrating XRPL as a global financial network, rather than a high-performance engine.
Building Robust XRPL Infrastructure
Panos states that the XRPL cannot succeed without infrastructure. This includes good native infrastructure for fast deposits and withdrawals, funding for deep-pocketed investors, and support for developers.
He proposes good sandboxing, good standard documents, and regular bug bounty programs to retain core developers and prevent them from leaving. Community engagement is also very important.
Panos asks the community to participate in governance, test products, share the story of XRPL, and organize events.
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