Ripple Schedules Up to 1 Billion XRP Escrow Release for Oct. 1
The scheduled release is a gross unlock, not a confirmed increase in circulating supply, because unused XRP may return to escrow.
Ripple’s escrow program is scheduled to make up to 1 billion XRP available Oct. 1, but the release will not necessarily translate into an equal increase in the token’s circulating supply.
The monthly mechanism was created to make XRP supply changes more predictable. Ripple initially placed 55 billion XRP, representing 55% of the asset’s total possible supply, into time-locked escrow contracts designed to release up to 1 billion XRP each month.
The Oct. 1 amount represents a gross unlock. Ripple may use some of the XRP and place unused tokens into new escrow contracts, meaning the final increase in circulating supply could be smaller.
“To provide additional predictability to the XRP supply, Ripple has locked 55 billion XRP,” David Schwartz said.
Escrowed funds on the XRP Ledger cannot be accessed until the programmed FinishAfter condition has passed. The Oct. 1 release is listed in UTC, but the precise release hour has not been confirmed, so its corresponding Eastern Time cannot be determined.
About 31.98 billion XRP was listed in escrow as of Sept. 24. The scheduled release does not establish that the tokens will be sold or enter public markets.
“The amount of XRP actually released into circulation will likely be much less than this,” Schwartz said.
The next scheduled event is the Oct. 1 escrow release.
