Ripple’s XRPL EVM mainnet is live — top exchange did $26 volume in a day
On June 30, Ripple announced that the XRP Ledger’s long-awaited Ethereum Virtual Machine (EVM) compatible sidechain was live. Ripple trumpeted “years of building and testing” to launch the mainnet, which would usher in “a new era of cross-chain DeFi.” So far, that new era of cross-chain DeFi has attracted fewer than $100,000 across all coins held in its smart contracts, according to DefiLlama’s total value locked (TVL) tracker. In fact, according to DefiLlama, this XRPL EVM has only four protocols worth tracking. Its most popular application has processed less than $1,100 in daily transactions over the last week. As of yesterday, this ostensibly “innovative multi-chain DEX and cross-chain DEX aggregator, strategically positioned within the XRP ecosystem” called Moai Finance had processed just $26 worth of trades over the prior 24 hours. DefiLlama displays data on August 8 for the largest DEX on the XRPL EVM. The XRPL EVM was supposed to welcome thousands of com...