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International Business Times
International Business Times
Business

Ripple Is Set To Unlock 1 Billion XRP On August 1. Most Of The Tokens Are Expected To Return To Escrow

Ripple XRP Cryptocurrency
Ripple's escrow mechanism automatically unlocks up to 1 billion XRP on the first day of each month through a series of smart contracts on the XRP Ledger. (Credit: Alesia Kozik)

Ripple is preparing for its next scheduled XRP escrow release, with 1 billion XRP set to become available on Aug. 1 under the company's longstanding token management program.

Ripple's escrow mechanism automatically unlocks up to 1 billion XRP on the first day of each month through a series of smart contracts on the XRP Ledger. The company has followed the same process since establishing the program in 2017 to provide greater transparency around XRP's supply management, according to Finbold.

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