on XRP - Initial DEX Offering - just now launching...

[JASCoder]

From the homepage, this was opened just a few hours ago, anyone else know much more about this project than is described in the website ?

Once it smooths out, I might acquire a few of their tokens and see how this plays out.

I will update this top post with any interesting discoveries or observations

Main site: https://onxrp.com/ 

From their twitter account right at the launch moment: 

Quote

Due to extremely high traffic, our API’s are a bit slow at the moment (this will be resolved in the near future). Currently we have thousands of people using all buttons (totalling 256000 clicks today). This means that connecting a wallet or placing a buy order might be slow.

Update: Using Chrome and XUMM worked eventually, Brave failed to popup the QR code to connect wallet, Chrome took a few tries. With a little patience and retires, I was able to acquire my gamble purchase of this new token - hopefully it won't be 900% lower tomorrow LOL

Remember - Gamble with only the zerps you can afford to LOSE  

Edited January 20 by JASCoder
Updates

[retryW]

Yeah I'm confused. This looks like they're running an XRP based NFT trading platform, with live prices, but none of the proposed NFT stuff has even made it to the test net as an amendment yet, it's still it's own dev-network.

Are people paying real money for something on a dev-net that can be blown away at any time?

Or are these IOUs for when (IF) the NFT amendments ever make it to the live XRPL?

[brianwalden]

9 hours ago, retryW said:

Yeah I'm confused. This looks like they're running an XRP based NFT trading platform, with live prices, but none of the proposed NFT stuff has even made it to the test net as an amendment yet, it's still it's own dev-network.

Are people paying real money for something on a dev-net that can be blown away at any time?

Or are these IOUs for when (IF) the NFT amendments ever make it to the live XRPL?

You can create NFTs now. You issue the smallest unit possible so it can't be divided and then use one of the fields that's not needed to put the link to the image (or whatever the NFT represents). They might be using the memo for that, but I'm not sure.

The new standard will be a new object type designed for NFTs. It's more robust than Ethereum's standard. The real question will be whether or not Ripple will use some of their billion sitting in cash to help get an NFT ecosystem started on the XRPL. It doesn't matter how good Ripple's NFT standard is if no one uses it.

[retryW]

13 hours ago, brianwalden said:

You can create NFTs now. You issue the smallest unit possible so it can't be divided and then use one of the fields that's not needed to put the link to the image (or whatever the NFT represents). They might be using the memo for that, but I'm not sure.

The new standard will be a new object type designed for NFTs. It's more robust than Ethereum's standard. The real question will be whether or not Ripple will use some of their billion sitting in cash to help get an NFT ecosystem started on the XRPL. It doesn't matter how good Ripple's NFT standard is if no one uses it.

I mean, that's not an NFT though, unless I'm interpreting this incorrectly. It's still fungible, there's no way to distinguish a token of any kind from another, you can only distinguish transactions.

[brianwalden]

10 minutes ago, retryW said:

I mean, that's not an NFT though, unless I'm interpreting this incorrectly. It's still fungible, there's no way to distinguish a token of any kind from another, you can only distinguish transactions.

Yes. You only issue one under that ticker. So there's only one coin with that currency code issued from that address and it's not divisible.

[retryW]

6 hours ago, brianwalden said:

Yes. You only issue one under that ticker. So there's only one coin with that currency code issued from that address and it's not divisible.

Ahhh okay I get you now. How tedious