Wrapped XRP
WXRP
Evaluation Score
Overall rating on a scale of 0-10
Crypto Token Health Score Explained
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AI Analysis
Comprehensive evaluation of the token
Overall Analysis
WXRP provides a straightforward, fully-collateralized bridge of XRP into Ethereum DeFi, but exhibits significant shortcomings in development, governance, and security transparency.
Strengths
- 1:1 peg backed by real XRP reserves; no inflationary emissions or vesting
- ERC-20 compatibility opens lending, AMMs, staking, and yield opportunities
Weaknesses
- Minimal active development (3/10) and low contributor count (high bus factor)
- Poor community engagement (4/10) with no dedicated channels or governance forums
- Opaque team/governance (3/10); custodial bridge creates single points of failure
- Lack of independent security audits and regular reserve attestations (5/10)
Conclusion: While WXRP’s tokenomics and market fit are decent, its centralized custody, anonymous team, and low dev velocity pose high counterparty and operational risks. Exercise caution and treat as a speculative play.
Detailed Analysis by Category
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Wrapped XRP (WXRP)
Wrapped XRP (WXRP)
Wrapped XRP (WXRP) is an ERC-20 token on the Ethereum blockchain fully backed 1:1 by XRP held in secure reserves. By tokenizing XRP as an Ethereum-compatible asset, WXRP enables seamless access to DeFi protocols, liquidity pools, decentralized exchanges, and cross-chain bridges.
Key Features
- 1:1 XRP Peg: Each WXRP token is collateralized with one XRP locked in audited reserves, maintaining price parity.
- ERC-20 Standard: Fully compatible with Ethereum wallets, smart contracts, and DeFi applications.
- DeFi Utility: Use WXRP for trading, liquidity mining, staking, and lending across leading protocols.
- Cross-Chain Bridging: Move value between the XRP Ledger and Ethereum networks via trust-minimized bridge mechanisms.
Token Details
- Name: Wrapped XRP
- Symbol: WXRP
- Standard: ERC-20
- Supply Model: Minted and burned on demand to mirror XRP reserves
How It Works
- A user deposits XRP into a custodian or smart contract on the XRP Ledger.
- The bridge mints the equivalent amount of WXRP on Ethereum.
- To redeem, WXRP is burned and the original XRP is released back to the user.
By leveraging WXRP, XRP holders gain full interoperability with Ethereum’s expanding DeFi ecosystem while preserving exposure to XRP’s native network features.
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