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đź’ĄCoreum’s Mainnet Launch Date, New Airdrop and Upcoming Plans for Q1 2023đź’Ą
a new round of community airdrops for the CORE, SOLO and XRP holders
December 22, 2022
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In this blog post, Coreum developers reveal the mainnet launch date of Coreum Layer-1 Blockchain and details on a new round of community airdrops for the CORE, SOLO and XRP holders.

Since its announcement in Dec 2021, Coreum Blockchain has gained tremendous global attention by introducing a new standard for enterprise use cases, such as ISO20022 compliance and Smart Tokens. Learn more about Coreum technologies here.

Coreum’s open-source project is 100% community-owned and is built by developers with a passion for making a more advanced, secure and fast blockchain for any size of the enterprise.

Mainnet Launch, Staking, Partnerships and VC Fundraising Round

Mainnet Launch Date: The highly anticipated mainnet launch of the Coreum Blockchain will take place on the 24th of March 2023 at around 04:00 AM UTC.

Staking: Once the mainnet is live, participants will have a unique opportunity to start staking their CORE tokens on the Coreum Blockchain. It’s forecasted the early stakers benefit from APRs as high as 40% initially while the total supply is moving from XRPL to Coreum blockchain.

Partnerships and Exchange Listings: The Growth and Partnership teams at Coreum have been working hard behind the scenes to bring more value to the Coreum ecosystem. Right after the mainnet launch, we will announce many exciting partnerships like various institutional validators, wallet integrations and Tier-1 exchange listings.

VC Fundraising: Since its inception, the Core team’s principle was to develop an open-source technology that is 100% community based without public token sale (IEO, ICO or IDO), which has traditionally been a common practice among most blockchain projects. Coreum will launch its first fundraising round in Q1 2023 for reputable VCs and Institutional accredited investors.

CORE and xCORE Airdrops

Coreum has been a 100% community-based project and will always remain the same. Community and technology are the main backbones of any blockchain project, and the success and future adoption of its technology depend directly on both factors. Within the past 18 months, we’ve been working around the clock on the research and development of Coreum technology. As we’re getting closer to the mainnet launch, it’s a suitable time to expand the Coreum community, increase its reach within the crypto space and make the ecosystem truly decentralized by airdropping the majority of the supply to the community.

To engage more crypto communities to participate in the Coreum ecosystem, the Core Team has decided to unlock and conduct an airdrop of 100,000,000 CORE tokens to the CORE holders and 50M xCORE token (Option Tokens with a Strike Option Price of $10) to both SOLO and XRP holders.

What’s the Airdrop Ratio of CORE and xCORE?

A total of 100,000,000 CORE tokens will be distributed to those accounts that hold CORE, and a total of 50,000,000 xCORE tokens will be distributed to the wallets that hold SOLO and/or XRP at the time of the snapshot.

The following ratio will be applied to the distribution:

CORE holders*: 100% of the total CORE Airdrop amount (100M CORE tokens)

*Please note that a TrustLine to the Coreum Gateway must be in place for the account to be eligible for the airdrop.

XRP holders*: 50% of the total xCORE airdrop amount (25M xCORE tokens)

SOLO holders*: 50% of the total xCORE airdrop amount (25M xCORE tokens)

*Please note that a TrustLine to the xCORE Gateway must be in place for the account to be eligible for the airdrop.

The Airdrop amount, snapshot and distribution schedule

Example For CORE Airdrop Ratio Calculation: Let’s assume the final amount of CORE, which is qualified for the CORE airdrop at the time of the snapshot, is as follows:

CORE: 50,000,000

Then the number of CORE Airdrops for the holders of the CORE will be calculated and deposited as below:

CORE Holders Ratio:

100,000,000 ÷ 50,000,000 = 2 CORE* per each CORE Holding

(Total CORE Airdrop Amount) ÷ (Total Participation amount) = CORE Airdrop Ratio

*The final ratio calculation of the CORE airdrop is subject to the total number of CORE holdings participating in the airdrop. It will be calculated and announced officially post-snapshot date.

Example For xCORE Airdrop Ratio Calculation: Let’s assume the final amount of SOLO and/or XRP, which are qualified for the xCORE airdrop at the time of the snapshot, are as follows:

SOLO: 100,000,000

XRP: 1,000,000,000

Then the number of CORE Airdrops for the holders of the CORE will be calculated and deposited as below:

SOLO Holders Ratio:

(50,000,000 ÷ 2) ÷ 100,000,000 = 0.25 xCORE* per each SOLO Holding

(50% of Total xCORE Airdrop Amount) ÷ (Total Participation amount) = xCORE Airdrop Ratio

XRP Holders Ratio:

(50,000,000 ÷ 2) ÷ 1,000,000,000 = 0.025 xCORE* per each XRP Holding

(50% of Total xCORE Airdrop Amount) ÷ (Total Participation amount) = xCORE Airdrop Ratio

*The final ratio calculation of the xCORE airdrop is subject to the total number of XRP and/or SOLO holdings participating in the airdrop. It will be calculated and announced officially post-snapshot date.

What’s xCORE? How does the Redemption work?

To further incentivize the community and avoid immediate pressure on the CORE market after the airdrop distribution, the Core team is issuing 50M xCORE tokens (at a value of $500M USD) to be airdropped exclusively to the SOLO and XRP communities.

xCORE is an Option Token that can be exchanged for CORE tokens if the CORE price reaches and stays above $10.00 for 240 consecutive hours (10 days) or expires on March 24th, 2025, 04:00 AM UTC.

After its expiry, regardless of the price, holders of xCORE are eligible to exchange 1:1* to CORE tokens via a smart contract on the Coreum Blockchain.

*1 xCORE is always fully backed by 1 CORE and held in a smart contract on the Coreum Blockchain until redemption takes place. xCORE is interoperable with XRPL and Coreum Blockchain and can be bridged for redemption.

In a nutshell, if you hold XRP or SOLO at the time of the snapshot, you will receive* xCORE tokens, which can be exchanged for CORE tokens, given the price of CORE goes above $10. If it does not, you will receive 1 CORE regardless of the price after 2 years.

*To receive the xCORE token, you must issue a TrustLine to the xCORE gateway mentioned in this article. Scroll down to the end of this article and learn how to set up your Trustline.

Type: Token Option

Symbol: XCORE

Strike Price: $10 USD — Remains above the strike price for 240 hours (10 days)

Expiry: March 24th, 2025 04:00 AM UTC

Backed by: CORE (1 XCORE = 1 CORE)

XRPL Issuing Address: r3dVizzUAS3U29WKaaSALqkieytA2LCoRe

Coreum Smart Contract Redemption Address: TBA after mainnet launch

When will the Snapshot be taken?

Snapshot Date/Time: March 24th, 2023, 04:00 AM UTC.

When will the CORE and xCORE Airdrops be Distributed?

CORE airdrop distribution to the CORE holders will take place in 4 equal instalments with 60 days buffer time in-betweens, and the xCORE will be distributed in one instalment to the XRP and/or SOLO holders as follows:

CORE Distribution (For CORE Holders)

Distribution 1: 1st Apr 2023

Distribution 2: 1st Jun 2023

Distribution 3: 1st Aug 2023

Distribution 4: 1st Nov 2023

xCORE Distribution (For XRP and/or SOLO Holders)

The xCORE airdrop distribution to the SOLO and XRP holders will take place on 15th May 2023.

Why is the SOLO community included in this Airdrop?

The Coreum idea was developed by the Sologenic development foundation and backed by the SOLO community. It’s time to make the bond between both SOLO and CORE communities even stronger than before.

The Sologenic team never stops!

We continue to develop new use cases and innovative ideas within the Sologenic ecosystem on both XRP Ledger and Coreum Blockchain. The most compelling use case is the tokenized assets trading platform which is planned to go live as a pilot program in specific jurisdictions in 2023.

Sologenic will also integrate with the Coreum networks so users can hold and trade fungible and non-fungible assets on both Coreum and XRP Ledger. In Q1 2023, SOLO Cards and Sologenic IDO launchpad will also go live.

Why is the XRP community included in this Airdrop?

Coreum was built out of a necessity by the Sologenic Tokenization Platform, and the XRPL has been a key to this journey. The XRP Ledger inspired many aspects of the Coreum Blockchain, and we would like to keep the two blockchains side-by-side that complete one another and remain interoperable.

For this reason, the first asset other than IBC-based assets that will be bridged to the Coreum Blockchain is the XRP and other tokenized assets on the XRPL.

This interoperability allows these assets to fully utilize the power of the Coreum Blockchain and create more use cases by using Smart Contracts and Smart Tokens. In addition, by design, these assets will flow into the Cosmos-based chains through IBC.

This will unlock many new opportunities for XRP, such as DeFi and innovative smart contracts-based d’Apps.

What wallets will be excluded?

All the wallets belonging to the foundation and teams at Coreum and Sologenic will be excluded from the airdrop, and any exchange or custodial company’s wallets will not release an official announcement to support the airdrop to their users. The team at Coreum would like to ensure the airdrop will go directly to the communities.

What’s next for COREUM?

The Core development team is constantly working on adding more features to the Coreum blockchain as well as monitoring and securing the network. After the mainnet launch, the team will focus on expanding the functionalities of Smart Tokens by adding more native features and support for different use cases. In the second development phase, the Core team will start developing the built-in full order-book DEX on the Coruem Blockchain. This allows all issued smart tokens on the chain to be seamlessly traded.

In addition, Coreum is anticipated to become the “Hub” for blockchain developers, allowing tokens to be issued on Coreum and flow through the Inter-Blockchain Communication Protocol (IBC) supported chains.

How to set up Trustlines?

CORE Holders

If you hold your CORE tokens on decentralized wallets like SOLO DEX and XUMM and you wish to participate in the CORE Airdrop, you can learn how to establish a trustline with Coreum gateway on the XRP Ledger here.

If you hold your CORE holdings on a centralized exchange, you need to contact your exchange to ensure they will support this Airdrop.

XRP and/or SOLO Holders

If you hold your SOLO and/or XRP tokens on decentralized wallets like SOLO DEX and XUMM and you wish to participate in the xCORE Airdrop, you should establish a trustline with xCORE gateway on the XRP Ledger. You can watch this example video here and change the parameters with the followings specs:

xCORE Gateway (Issuer): r3dVizzUAS3U29WKaaSALqkieytA2LCoRe

xCORE Currency Code: 58434F5245000000000000000000000000000000

Limit: 50,000,000

If you hold your XRP and/or SOLO holdings on a centralized exchange, you need to contact your exchange to make sure they will support this Airdrop for the XRP and/or SOLO holders on their exchange.

IMPORTANT NOTE: MAKE SURE TO SET UP YOUR TRUSTLINE WITH THE CORE AND/OR XCORE GATEWAYS BEFORE THE SNAPSHOT DATE AND TIME OF 24TH MARCH 2023, 4:00 PM UTC.

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What is XAH and Xahau?

If you're new to XRP, you may have noticed some of us discussing another network named 'Xahau'.

It's Like XRP ... But Different

The Xahau network was created in 2023, and its starting point was the open-source code for the XRP Ledger. A small team of researchers and entrepreneurs decided to add smart contracts to the network code.


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Each hook must be installed on a specific account by the party that controls the account - i.e., the secret key holder.
 
What Can XAH Do That XRP Cannot?
 
The primary benefit from the use of hooks, is that the core network code does not need to be changed every time a new use case is identified. This means that additional use cases can be addressed immediately, with no requirement for intervening steps, such as:
  • Community review
  • Community approval
  • Amendment voting
All of those steps are eliminated with the use of hooks; new use cases can be addressed as fast as the code can be developed.
 
To read more about how hooks enables Xahau to handle more use cases than even the XRPL, you can read this article:
 
Key Differences From XRP
 
Other unique differences from the XRP Ledger include:
  • Much smaller supply ~612 million coins vs. 100 billion coins
  • XAH hodlers are rewarded at 4% of their account balance. There are no rewards for XRP.
  • Governance participants are incentivized
  • Payment channels available for user-created tokens (IOUs)
  • URI tokens instead of NFT tokens
Who's Who of Xahau?
 
The list of those that are either founders, or closely associated with the founding organizations, is extensive. Here are the names of three organizations mentioned in the whitepaper, or their current moniker:
  • Xaman (a.k.a. XRPL Labs)
  • Gatehub
  • InFTF (Inclusive Financial Technology Foundation)
There exists a long list of impressive developers, architects, and technologists among the Xahau inner circle. But the three names that people associate most prominently with the leadership of the Xahau network are Wietse Wind, Richard Holland, and Denis Angell. The links to their 'X' accounts are:
 
Friend Or Foe?
 
This topic is one of the most contentious.
 
While Ripple, the company with the largest stake of XRP, showed interest in hooks early on, they ultimately decided to advocate for a different approach; the use of an EVM-based solution (Ethereum Virtual Machine) to handle smart contracts on the XRP Ledger. This decision was met with consternation by the Xaman team that had worked with them for several years to advocate for the use of hooks.
 
You can read more about the 'business politics' part of this topic here:
 
So how do Xahau fans view the relationship between XRP and XAH?
 
The Xahau team - and many of its community members - advocate for the use of a 'dual-chain' solution to implement smart contracts. This can be accomplished by the use of 'listener' software, along with native Xahau hooks.
 
A proof of concept, developed by Denis Angell, has demonstrated that bi-lateral communication can work with a simple approach.
 
From an economic standpoint, every chain that has its own digital asset is a competitor; but the simple way to think about Xahau, is that a 'bunch of XRP geeks' decided to implement smart contracts on their own version of the XRP Ledger.
 
The team emphasized transparency along the way, and initially received support from the primary XRP stakeholder, Ripple. They published Xahau as open-source code that could, in theory, be back-engineered and integrated with the XRP Ledger. You can clearly observe the team's idealistic mindset in early marketing mistakes, where they named their digital asset 'XRP Plus' in an effort to emphasize the way that they viewed their creation. While this resulted in confusion - and even suspicion - in its early days, the team quickly pivoted, and named their digital asset 'XAH', which became its ticker symbol.
 
Synergy effects between the two camps speak to a genuine camaraderie, with many Xahau developers being open and willing to help with changes to the core XRP Ledger protocol. You can find many examples of this open dialogue on the 'X' platform.
 
How To Purchase XAH
 
If you wish to speculate by buying XAH directly, it is available in a variety of convenient locations, depending on where you are located. If you're in a country that is supported by Bitrue, you can directly purchase or trade XAH by using that exchange.
 
On January 20th, 2025, Bitmart announced that it supports trading of XAH for customers in their list of supported countries; And in late March, another major exchange announced that they would be supporting XAH trading pairs: Coinex.
 
If you're located in the United States, you can purchase XAH directly from a vendor known as 'C14'. The xApp for C14 is located in the Xaman wallet.
 
XRP Ledger geeks can also purchase XAH IOUs on the XRPL Dex and then convert them to 'real' XAH using a Gatehub bridge. This is available in countries that Gatehub supports.
 
Which XAH Accounts Should I Follow?
 
On the 'X' platform, there exists two major community groups for XAH fans:
In addition to the Xahau notables I've already mentioned in this article, my advice is to take a look at who is posting in the above two communities. There are many impressive leaders and entrepreneurs included. You should be able to find multiple 'X' accounts that reflect your interests.
 
Xahau Development Roadmap
 
Xahau leaders have published a roadmap for 2025 that lists their various goals for the ecosystem:
 
To read a detailed explanation for each item, refer to this: Xahau Roadmap Super Thread
 
One of the most incredible waypoints listed is 'JavaScript Hooks Implementation.' 🤯
JavaScript!
 
With the 'JavaScript Hooks Implementation', Xahau is making history; it will enable anybody that knows JavaScript to easily create and install a smart contract. While networks like Ethereum are impressive early movers, they require developers to learn a new language and syntax.
 
Xahau will soon open 'crypto smart contracts' to a group of developers that number in the tens of millions.
 
Project L-10K
 
Project L-10K is one of the most important items in the pipeline. L-10K refers to the effort to boost the throughput of Xahau consensus to over 10,000 transactions per ledger! This will benefit hosted projects such as Evernode, and future issued assets. Heading up the effort is Richard Holland, who provided a progress update to the community in late May of 2025:
 
To learn more about this ambitious effort, you can watch his full presentation here:
The Future Of Defi And Payments
 
Once you've seen the extensive list of use cases that XAH easily handles, it's truly inspiring. Xahau is everything that you love about XRP, plus a long list of more things to love. ❤️
 
Be an early adopter of XAH and the Xahau network! Join the community groups listed and follow the accounts that seem to reflect your own interest - speculator, developer, or crypto fan. You have a place in our community, no matter what your background or interests are. Welcome to the future of crypto Defi and Payments. 
 
Sources:
 
 
NOTE: Payment channels for IOUs is currently in amendment status for the XRP Ledger, authored by Denis Angel here:
 
 

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