Key facts
- Binance is launching a four-week XRP rewards campaign for RLUSD holders.
- The campaign begins September 25 and will distribute $800,000 worth of XRP.
- Users holding at least 0.01 RLUSD in Spot, Funding, Earn, and Margin accounts are eligible.
- Snapshots for reward calculation are taken hourly, based on the lowest daily balance.
- RLUSD market cap has grown from $1.51 billion to nearly $2.45 billion.
- Restricted jurisdictions, including the US, UK, and EU countries, are excluded from rewards.
Binance, the world's largest cryptocurrency exchange, announced on Thursday an expansion of its support for XRP and Ripple's RLUSD stablecoin. The exchange will conduct a four-week airdrop campaign starting September 25, distributing $800,000 worth of XRP to users who hold RLUSD. This initiative aims to significantly boost the market capitalization of RLUSD and strengthen the relationship between Binance and Ripple.
Eligible users will receive XRP rewards every Friday until October 23, provided they maintain a minimum RLUSD balance of 0.01 across their Spot, Funding, Earn, and Margin accounts. Hourly snapshots of the lowest daily balance will determine qualifying balances for the weekly rewards. Binance has also implemented a 60% haircut for RLUSD acquired through borrowing other stablecoins in Margin accounts.
Since the launch of the XRP rewards campaign, RLUSD's market cap has surged from $1.51 billion to nearly $2.45 billion. In related news, Ripple recently integrated XRP and RLUSD support for AI agent payments on Stripe and Tempo’s Machine Payments Protocol. Meanwhile, XRP experienced a 6% decline ahead of monthly crypto options expiry, trading at $1.51 after reaching a 24-hour high of $1.64, with trading volume down 18% in the past 24 hours. XRP futures open interest saw a nearly 9% drop to $3.60 billion in the last 24 hours, though it climbed in the shorter term on CME and Binance.