XRP Healthcare, the first Pharma and healthcare platform built on the XRP Ledger said it will stop XRP to XRPH Swap facility. Beginning from June 7 or after the depletion of the currently allocated token, users will be unable to use the token XRP swap facility.
Demand for XRPH Tokens Increases
As revealed in a press release, demand for XRPH tokens has reached unprecedented levels. Therefore, with its recent announcement, XRP Healthcare aims to preserve the finite supply of XRPH tokens.
“Halting the swap facility is a crucial step in ensuring the long-term integrity and scarcity of XRPH tokens,” noted Kain Roomes, CEO and Founder of XRP Healthcare.
To maintain scarcity of the XRPH tokens, the company fixed the total supply at 100 million and issued an account blackholed to prevent any future issuance. Simply explained, a Blackholed issuing account means that no additional tokens can ever be created. This is to ensure the total supply remains constant.
Notably, the recent announcement comes less than a month after XRP Healthcare included the swap facility function in its most recent mobile app version. The app’s v.7.0.9 release included a functionality that lets users easily convert their XRP coins into XRPH. In addition, the app has an open-source codebase and acts as a portal to a decentralized pharmaceutical marketplace.
Achievements of XRP Healthcare
Established in September 2022, XRP Healthcare is based in London with strong objectives to bring needed innovation to the Pharmaceutical and Healthcare industry.
The platform has made notable strides recently, with the XRPH token rising from a CoinMarketCap position of over 3500 to its current position of 1515. Also, the business is actively pursuing its objectives for growth in Uganda and throughout Africa.
At press time, XRPH token is trading at $0,05029, up by 1.8% in the past day, with its market cap pegged at $3.5 million.
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