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The Ripple project is older than Bitcoin, but did Ripple have an ICO?

Did Ripple ICO?

Update January 26, 2018: I got a confirmation from a moderator over at Reddit.com/r/Ripple that Ripple did not have an ICO. Why is this information so hard to find!

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What were the terms of Ripple’s ICO? I had no idea so I googled and found interesting but not definitive articles about an ICO. One from Bitcoin Magazine from February 26, 2013 described Ripple as the new kid on the block and a cryptocurrency that merchants should be taking a closer look at. The author wrote:

The Ripple project is actually older than Bitcoin itself. The original implementation was created by Ryan Fugger in 2004, the intent being to create a monetary system that was decentralized and could effectively empower individuals and communities to create their own money. All money in Ripple is explicitly represented as debt, with transactions simply consisting of balances being shifted on a series of imaginary credit lines from the payer to the receiver.

Older than Bitcoin? First I have heard of that! This article is a really good read. The author noted some of the early traction of Ripple such as classic.ripplepay.com. I learned that the first merchant to accept Ripple was Private Internet Access, a VPN provider (unsure if they still take XRP). I also found the author interesting, Vitalik Buterin. I know about his founding of Ethereum but didn’t know he also co-founded Bitcoin Magazine.

Interesting stuff but what about Ripple’s ICO? I was surprised how hard it was to find information. I stumbled upon this blog that shared this info about Ripple’s ICO:

Maybe the first cryptocurrency distributed by an ICO was Ripple. In early 2013 Ripple Labs started to develop the Ripple called payment system and created around 100 billion XRP token. The company sold these token to fund the development of the Ripple platform.

Ripple Labs created 100 billion XRP-token which serve as an anti-spam mechanism in the payment network Ripple, as you have to pay your network fees in XRP. The XRP are sold by Ripple Labs; their value doesn’t move in a clear direction, while the trend is more downwards. It started with around 5,000 Satoshi, sometimes felt below 1,000 Satoshi, raised above 7,000 and finally fell again to a new low of 600 Satoshi, before again raising on 3,000.

Sure sounds like they had an ICO. But if they did wouldn’t more information about the ICO be easy to find. Aside from this reference to a Ripple ICO, I couldn’t find anything definitive.

Does anyone have information about Ripple’s ICO?



 

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