Ripple does not offer smart contract functionality, and it does not support Script and OP. The XRC-20 protocol involves inscribing the metadata and transaction data of Inscription onto the Ripple network. Consistency proof of the ledger is ensured through the use of standard indexers.
XRC-20 processes transactions in JSON format and is comprised of many fundamental transaction types: mint, reflect, transfer, list, delist and buy.
This protocol is also a template that you can easily extend and support other operations and even smart contracts.
Mint
This phase has ended.
To mint an immutable inscription, you are required to send 0.1 XRP with the corresponding JSON format memo to Ripple. The receiving address must be r4eLeum9n4UQtnANDbgpaGLn9uSgcYXRps. There are only 10 million immutable inscriptions available in total. Each account can mint up to 1,001 immutable inscriptions. All minting XRP will be put into the initial trading pool.
// This is a sample use ripple-lib
const json = {"tick":"xrps","op":"mint","txt":"I love you."};
payment.memos = [{data: JSON.stringify(json), type: 'xrc20', format: 'text'}];Ensure that type is "xrc20" when you create the memo. The data in memo contains tick, op and txt fields. You can only modify the txt field. Once submitted, the content of the txt cannot be changed. Note that the txt cannot be too long as the memos field is limited to no more than 1 KB in size (when serialized in binary format).
When 1 inscription is minted, you will receive an airdrop of 1 XRPS. The remaining 999 XRPS will be distributed after the total minting amount reaches a certain level.
You can mint with the wallet we provide, or use the community wallet snapswap.com. The wallet implements the federation protocol. Not only can Ripple send money like sending an email, it can also mint XRPS like sending an email. We are showcasing Ripple as it should be.
Reflect
This phase has ended and undistributed XRPS have been burned.
Each inscription maps 1000 XRPS. You can use 1 XRPS mapping to generate the remaining 999 XRPS. The XRPS used by the op will be injected into the liquidity pool.
The federtion protocol address reflect@xrps.io. Or you can send XRPS exactly equal to the number of inscriptions to rKYZMwA5viogqKYpnSUpLJXag17KM27map. The memo content is as follows.
{"tick":"xrps","op":"reflect"}When the mint progress reaches 100%, we will take a snapshot of all inscriptions. After the snapshot, each inscription address is reflected to generate XRPS.
This phase will last two weeks, with full mapping taking place in the first week and 80% in the second week. Addresses that did not participate will receive only 50% at the end. Those who do not add the XRPS trustline will receive an XRP refund.
Transfer
Using the transfer operation, you will change the ownership of this inscription. The new owner will have full control of the inscription. If this inscription was originally in the listed state, it will become the delisted state after the transfer.
*************************************This feature will go live after all XRPS are minted.
List
Through the list operation, you can put immutable inscriptions on the open market for trading. You need to specify the price when list. Currently only pricing in XRP is supported.
*************************************This feature will go live after all XRPS are minted.
Delist
Through the delist operation, you can delist the immutable inscriptions on the open market. You need to specify the id in the json.
*************************************This feature will go live after all XRPS are minted.
Buy
Through the buy operation, you can be the new owner of the immutable inscription. You need to send enough XRP to get it. Note that we will charge a fee of 1% for both the buyer and seller. This fee will be used to purchase XRPS and destroy it.
*************************************This feature will go live after all XRPS are minted.