The Root Network Rewards Stakers With 362K XRP And 4.7M ROOT Coins

The decentralized blockchain, the Root Network, announced the sharing of its staking rewards to customers. Notably, the platform has been incorporated with the XRP Ledger DEX.

The Root Network took to the X platform to disclose that about 371 stakers benefited from the reward distribution process. According to the announcement, the platform rewarded its stakers with 602K Vortex tokens.

The Vortex comprises 362,000 XRP and 4.7 million ROOT coins.

Additionally, the network revealed a remarkable increase in the amount of distributed XRP coins compared to its past reward. This indicates that the platform recorded a spike in network activity recently.

The Root Network Staking and Distribution Practices

Vortex is the reward token of the Root Network. The blockchain network shares the Vortex tokens with users who stake their ROOT coins as a means to foster the security and stability of the platform during the last reward cycle.

The Root Network gathers its network bootstrap rewards, gas fees, and other network charges in Vortex.

At the end of a reward cycle, the network distributes the accumulated rewards of Vortex coins to participants on the network. Moreover, Vortex tokens comprise certain proportions of some crypto coins available in the Vortex.

These include XRP, ROOT, ASTO, and SYLO. Usually, The Root Network runs a 90-day reward cycle on its platform.

It shares the accumulated Vortex tokens as proof-of-stake rewards to its network stakers and validators. The incentivized users could view and monitor their Vortex rewards through the network's Staking Dashboard and FuturePass.

To partake in the reward cycle, a user will have to stake ROOT coins in The Root Network platform.

The network stated:

Help secure The Root Network by staking ROOT and receive Vortex token rewards for participating. Anyone can use ROOT tokens to get involved.

XRP Emerged As The Largest Proportion Of Shared Vortex Token Reward

In the latest cycle, the ROOT Network accumulated a total of 602,000 Vortex tokens which were shared with the network validators and stakers.According to the proportional shared tokens of the amassed Vortex, the US dollar value of the shared XRP coins amounts to $225,382.

As network activity grows so do the rewards.

Those securing The Root Network in the last cycle were awarded over 602k Vortex tokens, with The Vortex containing 362k $XRP and 4.7m $ROOT.

Help secure The Root Network by staking ROOT and receive Vortex token rewards for... pic.twitter.com/EL2CRx4xqY

- The Root Network (@TheRootNetwork) November 23, 2023

However, the shared ROOT tokens are worth about $143,400.This means that XRP stands as the biggest distributed proportion of the Vortex token in The ROOT Network's recent staking reward.

Besides XRP and ROOT coins, The Root Network also distributed 58 SYLO and 147 ASTO tokens in its recent reward cycle.

Following the slight positive overturn within the broader crypto market, XRP has reclaimed part of its value.As of 09:50 AM EST on November 24, XRP trades at $0.6184, reflecting a surge of 1.01% over the past 24 hours.

Its market value has moved to $33.2 billion with a 24-hour trade volume of $1.29 billion

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