Unlike Ethereum, Ripple is not known for developing tokens based on Ripple Distributed Ledger technology. With Allvor, however, a new project is coming onto the market which will change this and would like to take advantage of the Ripple technology.
Allvor describes itself as the first crypto currency with a focus on trading products and services based on the XRP ledger. For this, Allvor wants to use the “superior” technology of the XRP ledger to get crypto currencies into the commercial area where buyers actually use the currency to pay for goods.
For this purpose, Allvor wants to program tools that combine the XRP ledger with the technological resources of merchants from the e-commerce sector. The aim is to develop payment gateways that enable merchants to accept payments in ALV.
Allvor has its own native token called ALV. The token can be stored together with XRP in a ripple wallet. This means that the ALV tokens can be managed and sent in a regular ripple wallet. The wallet is intended to enable users to buy and sell products and services using the Ripple Wallet.
No ICO, but an Airdrop
Unlike other crypto currencies, Allvor does not run crowdsale to finance the project. Instead, the tokens are distributed via an Airdrop. Anyone who has held Ripple in a wallet at 28.03.2018 can receive the free ALV tokens.
To do this, you must enter your own public Ripple address on the Allvor website (>>here). The initial token supply is to take place through free distribution to ripple accounts. In addition, all 100,000,000,000,000 ALV tokens are to be brought into circulation by 2030 according to project specifications.
Ripple not too enthusiastic about ICOs on their blockchain
Although the team uses Ripple technology, it is important to know that Allvor is an independent project that is not sponsored or supported by Ripple. Since Ripple Technologies is an open source project, anyone can use the technology and implement their own programming. Nevertheless, Ripple doesn’t seem very enthusiastic about the idea, as the reaction of a Ripple speaker to Coindesk shows:
XRP Ledger is an open source and decentralized platform. This allows people to create anything they want on it, but Ripple is not interested in promoting or supporting ICOs on the ledger.
Whether the Allvor project is to be taken seriously and whether it will be successful is currently difficult to assess. The project is still very young and unknown. There is no listing for the ALV token at Coinmarketcap and therefore no price.