Mekras pointed out that these XRPL-based ventures offer little more than flashy websites, vague promises, and aggressive marketing tactics.
He added that some of these projects even present roadmaps that delay delivery of simple products for over a year or list centralized exchange (CEX) listings and influencer campaigns as key milestones.
Mekras said:
“Sceptical of any project launching a token and doing presales, especially if they don’t have a working product or anything to prove.”
He stated:
“Mathematically, this almost has to be true of almost any open ecosystem. It’s just so much easier to create a scam than something real.”
He said:
“We lack quality products and builders in this ecosystem, so we need to change this.”
Despite these risks, Schwartz outlined a long-term vision for XRPL as a foundational layer for global finance.
He stated:
“You could consider the XRPL together with other things Ripple has built to be a financial system. I hope over the next few years it can provide a significant fraction of the financial services that people need every day from payments to investments to loans.”
According to Schwartz:
“XRP has a privileged place on XRPL. It’s the only asset that any account can receive. It’s the only asset without a counterparty. Pathfinding checks for XRP liquidity first. Autobridging makes offers to and from XRP more likely to be taken. It’s the only asset you can pay transaction fees with.”
