Former Ripple Engineer Teases RLUSD-Based Startup on XRP Ledger
A former Ripple engineer known as "Bias Goose" has confirmed his secretive project on the XRP Ledger will be built around Ripple's U.S. dollar stablecoin, RLUSD. With a full presentation slated for September, the venture aims to bring real-world business on-chain, promising high yields and rejecting traditional crypto incentives.
A former Ripple engineer known as Bias Goose has revealed that his upcoming startup will use RLUSD, Ripple's dollar-backed stablecoin, on the XRP Ledger.
Bias Goose, who now works in development marketing for Walrus Protocol, confirmed the project's focus in a social media post on Sunday, writing: “We will make RLUSD great again.” The post followed a series of teasers about the project dating back to August 8.
The startup does not yet have a public name or white paper. Bias Goose has said he plans to give a fuller presentation in September.
Project details remain limited
The developer has said the project is being built around a partnership with a relatively closed sector of the traditional economy, with the aim of bringing real-world business activity onto the blockchain.
He has also indicated that the project will not issue its own token or rely on giveaways and artificial incentives.
Beyond that, many of the technical details remain unknown.
His current role at Walrus Protocol has prompted speculation about whether the startup could eventually connect XRPL's payment infrastructure with Walrus's decentralised data-storage technology. There is no confirmation that such an integration is part of the project, however.
RLUSD is at the centre
The clearest detail so far is the role of RLUSD.
Ripple's stablecoin is designed to maintain a one-to-one value with the U.S. dollar and has become an increasingly important part of the company's broader payments strategy. Ripple reported almost $1.6 billion in RLUSD circulation as of August 6.
Bias Goose has also claimed that the startup's model could generate returns several times higher than typical U.S. Treasury yields and outperform other stablecoins.
Those figures remain unverified projections, rather than results from an operating product.
For now, the project remains largely under wraps. The September presentation should provide the first substantial look at how Bias Goose intends to use RLUSD and the XRP Ledger for real-world businesses.