A viewer asked: Can you explain what it means by XRP getting burnt off every time it's used and what that means for long-term XRP? This recording is Jake Claver's answer, in full and unedited.
More on this subject: jakeclaver.com.
What this recording covers
Claver explains the deflationary burn mechanism built into the XRP Ledger and its long-term operational implications. On every transaction, a small quantity of XRP is destroyed as a network gas fee, permanently reducing the circulating supply. Claver notes that the total supply was fixed at one hundred billion units during its initial creation in 2012, with the origin account permanently locked to prevent any future minting. He recounts the early history of the asset, including its initial designation as XNS, the subsequent transfer of tokens from OpenCoin to Ripple, and the adoption of the XRP ticker following an International Monetary Fund publication. Claver contrasts this fixed-supply architecture with inflationary systems, explaining that daily transaction destruction gradually decreases available tokens while the underlying network facilitates cross-border transfers.
Where this fits
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