The XRP Ledger blockchain has recently integrated a new amendment, called Clawback (XLS-39), which allows issuers to claim tokens distributed to accounts. While this update has sparked several discussions within the XRPL community, one notable conversation revolves around the concept of a “recovery-enabled tokenomics” proposed by Neil Hartnersenior software engineer at Ripple.
The XRP Ledger blockchain has recently integrated a new amendment, called Clawback (XLS-39), which allows issuers to claim tokens distributed to accounts. While this update has sparked several discussions within the XRPL community, one notable conversation revolves around the concept of a “recovery-enabled tokenomics” proposed by Neil Hartnersenior software engineer at Ripple.
Hartner suggested the creation of a Robinhood token (RHD), envisioning a redistribution of tokens from the top 10% of holders to the bottom 90% at random intervals. However, Ripple CTO and XRP Ledger co-creator David Schwartz expressed skepticism towards this idea, sarcastically stating, “I love that idea.”
Adding to the discourse, XRPL developer Wietse Wind questioned the need to accumulate large amounts of said token, drawing parallels with the spirit of the legendary Robin Hood. Wind implied that a true Robin Hood token, like its namesake, would inherently possess value for its users, eliminating the need for excessive hoarding.
Schwartz echoed Wind’s sentiment, suggesting that people who want substantial holdings of the token could easily distribute them across multiple accounts, thus avoiding the proposed recovery mechanism.
In essence, the debate surrounding the feasibility and desirability of Hartner’s proposal highlights broader questions about the effectiveness and practicality of implementing recovery mechanisms within symbolic ecosystems.
Ripple CTO David Schwartz clarified the shortcomings of the Robinhood token concept, emphasizing the potential for users to game the system and the fundamental need for tokens to derive their value intrinsically.
