Injective Community Votes to Introduce XRP to Injective Network

XRP is joining the Injective ecosystem. The Injective DAO recently voted to pass the proposal aiming to feature an XRP/USDT perpetual pair.

By bringing the XRP token into its ecosystem, the Injective community believes this will expand the network, boost both XRP and USDA's liquidities on the Injective chain, and increase available trading pairs.

The Injective community has overwhelmingly voted YES to bringing $XRP into the ecosystem with IIP-238 passing just hours ago!

Up Next: New use cases

- Injective (@Injective_) July 17, 2023

This update was published by Injective Blockchain's team on its official Twitter account. As per the tweet, the next step is the implementation of new use cases.

Injective to Support XRP Trading Across its Network

On July 13, Chris, a member of the Injective Labs, passed the proposal titled IIP-238. He submitted the concept a few hours after the court ruling by US District Judge Analisa Torres ruled that XRP is not a security.

According to the draft, if the proposal is approved, it will deploy a perpetual tradable pair on the Injective network for XRP/USDT.

The market pair will come with a minimum quantity of 0.1 tick size and a minimum of 0.0001 price size. Furthermore, the detail from the Injective Hub governance segment, the community has currently voted to pass the proposal only four days after Chris proposed it.

It is also worth stating that the majority of votes, around 99.78%, voted for Yes." Also, Ripple is one of many protocols featured in the Injective ecosystem.

It recently integrated Polygon into its network in May 2023. Even before that, Injective had integrated Solana-based protocols on its network in February. RippleAnd Injective have claimed notable names across the blockchain industry, partnering with other networks and entities.

XRP Garners Tons of Interest from the Crypto Industry

Integrating the XRP/USDT trading pair in the ecosystem is Injective community's latest effort to meet market demands from participants and boost the network's composability with external protocols and assets.

Most of the community's members believe this development will also add liquidity to the network and provide traders and investors with aces to wager on Ripple futures for profits.

Ripple's XRP token has received tons of attention from all and sundry, as the crypto blockchain partially won its case against the United States Securities and Exchange Commission (SEC).

The SEC allegedly claimed that Ripple was selling XRP as an unregistered security for traders in the US. However, Judge Torres ruled that Ripple can only be classified as a security if sold to institutional investors, not retail investors.

Following the ruling, leading crypto exchanges like Binance, Huobi Global, Gemini, Crypto.com, and other large US exchanges listed the token on their platforms.

This enabled US-based traders and investors to purchase and trade Ripple using various fiat currencies and other pairs.

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