The firm held a private sale in March.
Blockchain name services are quite popular in crypto as they allow for easier and less error-prone transactions by replacing long and confusing wallet addresses with readable and sometimes catchy text. In addition, they have also become status symbols in some spaces and have been popularized by industry leaders, particularly in the Ethereum community.
XRP Name Service, formerly called Ripple Name Service, came to the scene in December, promising to bring the same benefits to users of the XRP Ledger. After conducting a private sale in March, the firm has now released frequently asked questions (faqs) in a thread to answer key questions about the project likely before it launches a public sale in Q2 per its roadmap released in February.
The team reveals that it plans to carry out an airdrop. However, it is unclear what the qualifying criteria would be or whether it would be an airdrop for all XRP holders. XRP Name Service could not be reached for comment on this.
Nonetheless, what is clear is that the team plans to launch this token on Peersyst’s proposed XRPL Ethereum Virtual Machine (EVM) compatible sidechain. According to XRP Name Service, this would allow users to bridge to Ethereum and allow interested Ethereum users to easily get involved.
📌 9/ What chain will you launch the token?
XRP EVM sidechain that is being worked on by Peersyst. We will also bridge it to Ethereum to onboard more users which will benefit both XRP and ETH communities.
— xns.xrp (@xnsnames) March 27, 2023
Notably, the EVM sidechain was initially set to launch early this year. However, as highlighted in a recent report, the XRPL sidechains project has undergone some changes, prompting fresh testing. Consequently, the timeline for the launch of the EVM sidechain has likely been impacted.
Peersyst is yet to respond to a request for comments at the time of writing.
So far, the project has begun to gain traction and receive support from community influencers.
Got me some $XRP domains!
Thank you to the @xnsnames team for providing and reserving some of these.
Fire project! pic.twitter.com/ElNU1DJjZU
— MASON VERSLUIS 🏆🔮 (@MasonVersluis) March 26, 2023
It is worth noting that XRP Name Service has no known affiliation with Ripple.
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