XRPL Community Meme Coin Named $DROP Aiming to be ‘The Mascot’ of the XRP Ledger and Blue Chip Token.
DROP
Launch
Image thanks to $Drop Art Team @andys_33
On October 16, 2024, a meme coin named $DROP aiming to be the mascot of the XRPL and Blue Chip token was launched on the XRP Ledger (XRPL) by well-known YouTube influencer Alex Cobb.
After the initial launch, Alex Cobb burned his 10,000 $DROP, leading to a community takeover that has continued to flourish.
Remarkably $Drop is showing no signs of slowing down.
$Drop doubled its market cap to 20 million US Dollars by November 19th, only 34 days after its launch on firstledger.net, which uses a Telegram trading bot, and Xmagnetic.org, which utilises the Xaman wallet.
$Drop Team and Ethos
Image thanks to $Drop Art Team @andys_33
$DROP community is led by a group of cryptocurrency enthusiasts and influencers, each contributing distinct skills. Whilst the team expands with artists, visionaries, and dedicated admins and mods, it all started with:
Echo a prominent TikTok influencer within the XRP Army, known for rallying support and disseminating insights.
Lalaland who serves as the dedicated developer, post-Alex Cobb, focusing on innovation and ensuring $DROP aligns with the XRPL ecosystem.
Jaime and Austin whom bring over a decade of trading experience as community and social media managers, enhancing community engagement and project visibility.
Ethos
‘Make waves as a $DROP member and help each other to rise in the community’
First Centralised Exchange Listing: Bitrue and Fundraising
Image thanks to $Drop Art Team
Incredibly, the $DROP community raised 30,000 XRP in less than three hours from the Telegram community. Those with deeper pockets contributed the most, demonstrating organic equity among its members.
Three weeks after a successful launch on the Bitrue exchange, could this be a sign of what’s to come: exponential growth and more successful launches on centralised exchanges?
XRPL Dexscreener Integration
Image thanks to $Drop Art Team @andys_33
Rumors began to spread on X that First Ledger (@First_Ledger) had completed an application to Dexscreener, a prominent and large DEX that already provides services for other major chains.
As rumors grew, ‘WenDex’ became a meme in itself, leading to the creation of a ‘WenDex’ meme coin; not as a serious investment call, but just for fun, and perhaps to send out a wish.
The noise continued to grow louder, and finally, there has been verbal confirmation within X degen spaces that Dexscreener has all but completed the XRPL integration after ironing out technical challenges.
This integration looks to transition from ‘WenDex’ to reality. This could well be a potential game-changer for the XRPL meme coin community space.
Official Partnerships
Image courtesy of @SkellyVerse
By November 2024, $DROP announced an official partnership with Skelly Bets, an XRPL-based online casino, indicating its use as a hybrid cryptocurrency offering both price discovery for the community and utility for gaming enthusiasts.
In-game, players are able to load their game wallets with $DROP(s) and retrieve their winnings in $DROP(s) if they choose.
NFTs
Image courtesy of $Drop team and artist @hollowmanG
The $DROP ecosystem further evolved with the introduction of the first $DROP NFT collection by a community artist known as ‘Gunner Hallowman’. While these NFTs sold out quickly, more are planned.
Being plugged into the community is the only way to know when NFT’s will drop — mind the pun.
The best way to keep up to date with $DROP NFT releases is either by following their X account @DropCoinXRPL or by joining their Telegram group found at xrp-drop.com.
Image courtesy of $Drop team artist @hollowmanG
These NFTs, found at xrp.cafe/collection/dropnft, not only encapsulate the $DROP community culture and spirit, but also reflect broader pop culture — edgy - themes.
Some NFTs have resold for over ten times their original cost, cementing their value within the community.
Remarkably, over 50% of the NFT sale profits are reinvested into the community going towards supporting website operations, and future projects that further drive community value. This speaks volumes about the values that the $Drop community is shaping.
Merchandise
Special thanks for $Drop Nemo for creating the merch store
The merchandise shop is now open for $Drop community participants.
DROP’s Growth and More Collaborations
Image thanks to $Drop Art Team @andys_33
$DROP has quickly become a leader among meme coins on the XRPL, driven by a dedicated team and strategic partnerships.
An announcement via the $DROP X account highlighted an active collaboration with $Ripples, another meme token on XRPL, which has its own unique community utilities, including animations, games, NFTs, and a proposed ambition of Pixar-style movies.
The Road Map
Image thanks to $Drop Art Team @andys_33
Below is the $DROP roadmap, as outlined and stated on the $Drop website (xrp-drop.com):
‘A visionary journey to establish $DROP as a prominent force within the XRPL! From our initial steps in community building to exploring ambitious features and expansions, we are committed to pushing the limits at every phase. Explore our roadmap to discover what lies ahead for $DROP!’.
Phase 1: Foundation Building
Bittue Listing Live: $DROP successfully listed on Bittue as of November 18, 2024.
Credibility Applications: Currently in progress with CoinGecko and CoinMarketCap, platforms critical for visibility and legitimacy.
Phase 2: Ecosystem Expansion
NFT Launch Success: $DROP NFTs are live and sold out, achieving #1 ranking on XRP Cafe, reflecting strong demand.
E-Commerce Development: $DROP’s website and catalog shop will launch by the end of 2024, with all sales revenue reinvested into the liquidity pool (LP) to maintain project stability.
Phase 3: Real-World Integration
Cross-Chain Liquidity: The upcoming $RLUSD launch will improve bridging capabilities and enhance liquidity inflow.
Phase 4: Cross-Chain and Beyond
Expanding Compatibility: Progress toward integration with Ethereum and Polygon ecosystems.
Community DAO Launch: Empowering holders with governance tools to shape $DROP’s future.
Core Technical Framework
Image thanks to $Drop Art Team @andys_33
$DROP leverages XRPL’s innovative features to deliver value and security:
Automated Market Maker (AMM): Ensures liquidity and stability for $DROP holders.
Deflationary Model: Token burns continually reinforce value.
Security and Speed: Built on XRPL for instant, secure transactions at minimal fees.
Image courtesy of the $Drop team and artist Jellicoe aka @jellibashTokenomics
Image thanks to $Drop Art Team @andys_33The tokenomics of $DROP are uniquely tied to XRP, where 1 XRP equals 1,000,000 drops or 0.000001 XRP each, with a total supply of one million $DROP.Original Supply and Burns
Current Supply: 989,000 $DROP
Burns and Locks: Following the initial burn of 1% by the creator, all remaining developer supply has been securely transferred to blackholed wallets, ensuring long-term stability and reinforcing its deflationary nature.
Token Distribution
Issuer Wallet: rszenFJoDdiGjyezQc8pME9KWDQH43Tswh
Creator Wallet: r31CuT8qHkqWXqHyyMQaX4CNMRjCXJC5Vi
Community Wallet: rwzUGmyzCpgTVLUSfwV85tEXezNPtp1V
Blackhole Wallet: rK8i2WFrGAvVvRxYyuVKhmqwWqXt2CUhTi$Drop is coded in the XRP Ledger.
Real-World Utility
Event Access: Use $DROP tokens for entry to exclusive events.
Loyalty Programs: Merchants accepting $DROP can offer loyalty rewards to drive adoption.
Story
The tokenomics of $DROP are uniquely tied to XRP, where 1 XRP equals 1,000,000 drops or 0.000001 XRP each, with a total supply of one million $DROP.
This inherent connection to XRP resonates deeply with the community, and has helped the rapid adoption of $Drop leading to significant market cap growth. $Drop reached $10 million USD in its first month doubling to $20 million by the seventh week.
Community Sentiment
A unifying factor among XRP holders, which seems to propel community tokens like $DROP, is, believe it or not, not only about riddlers or cartoon bears (which XRP holders are all too familiar with), but also a shared sentiment of frustration with the U.S. Securities and Exchange Commission (SEC) for its lack of clear regulatory frameworks.
Image thanks to $Drop Art Team @andys_33
This historical impact on XRP and its investors has arguably rocket-fuelled a dynamic, and supportive community around projects like $DROP. The creativity and talent entering the $DROP meme coin space is truly phenomenal.
Image thanks to $Drop Art Team @andys_33
The future trajectory for $DROP is yet to unfold, but its initial impact is unmistakable.
From its vibrant community engagement through Telegram spaces to the planned integration into DeFi applications, $DROP has not only made a substantial impact, but has started to send ripples throughout the cryptocurrency landscape indicating a promising path forward for this community-focused meme coin.
$Drop: A story worth telling is being unfolded.
Special Mention
Image thanks to $Drop Art Team @andys_33
Thank you to the entire $Drop team for making this community possible. Thank you to Pat, Brent, Daniel, KDB $WOWO, Andy, and Gunner for your help and support with guiding the process of this article about $Drop.
Thank you to all admins and mods who continue to make sure $Drop spaces online are safe for users.
Disclaimer
This is not financial advice. Investing in cryptocurrencies, especially meme coins, carries significant risks, where you stand to lose your entire investment. Alway do your own research (DYOR) and only invest funds that you can afford to lose.
Image thanks to $Drop Art Team @andys_33
Image thanks to $Drop Art Team @andys_33
Image thanks to $Drop Art Team @andys_33
Written by Mark Flynn @mark4free
