XRP持有人對Ripple的成功有直接的興趣

加密研究員SMQKE最近解釋了XRP投資者僅通過持有令牌就如何對Ripple的成功產生興趣。

Crypto researcher SMQKE has explained how investors in the crypto token XRP have an interest in the success of the company Ripple, simply by holding the token.

加密研究員SMQKE解釋了Crypto代幣XRP的投資者如何通過持有令牌對公司的成功感興趣。

The researcher, known on X (formerly Twitter) for his deep dives into crypto, began by noting a recent legal report by James C. Spindler for William & Mary Law School, America’s oldest law school, focusing on the regulatory implications of crypto.

這位研究人員在X（以前稱為Twitter）上以深入了解加密貨幣的研究人員始於指出James C. Spindler最近的法律報告William＆Mary Law School是美國最古老的法學院，重點介紹了Crypto的監管含義。

The original report, released in May 2025, mentioned XRP as an economic proxy for Ripple’s future success. The company has always maintained that XRP is a utility token, not an investment contract. However, the report argued that XRP’s value is connected to the performance of Ripple’s payment network.

最初的報告於2025年5月發布，提到XRP是Ripple未來成功的經濟代理。該公司一直堅持認為XRP是公用事業代幣，而不是投資合同。但是，該報告認為XRP的值已連接到Ripple的支付網絡的性能。

Interestingly, Ripple has also mentioned that its payments product, which can be used by clients such as banks, uses XRP in a way that does not impact the token’s price. Despite this, the report claimed XRP holders effectively gain exposure to Ripple’s future licensing revenue, even without holding equity or receiving dividends.

有趣的是，Ripple還提到其付款產品可以由銀行等客戶使用，以不影響令牌價格的方式使用XRP。儘管如此，該報告稱XRP持有人有效地獲得了Ripple的未來許可收入，即使沒有持有股權或獲得股息。

After uncovering the report in a previous post, SMQKE was later asked by a user how XRP holders could be interested in Ripple’s success. In response, he presented an analogy to help investors and enthusiasts better grasp the relationship between XRP holders and Ripple.

在上一篇文章中揭示了該報告後，用戶後來詢問SMQKE XRP持有人如何對Ripple的成功感興趣。作為回應，他提出了一個類比，以幫助投資者和發燒友更好地掌握XRP持有人與波紋之間的關係。

According to SMQKE, purchasing XRP is similar to buying a share in a drug patent from a pharmaceutical firm. While the patent itself is not a security and doesn’t promise payouts, its market value depends on the company behind it pushing forward with development and adoption.

根據SMQKE的說法，購買XRP類似於從製藥公司購買藥品專利的股份。儘管專利本身不是安全性，也不是保證支出，但其市場價值取決於其背後的公司推動開發和採用。

"If the company flounders and the drug never gets approved, the patent becomes worthless despite being a valid piece of intellectual property," SMQKE added.

Smqke補充說：“如果公司比目魚和藥物永遠不會獲得批准，那麼儘管是有效的知識產權，該專利就毫無價值。”

Likewise, he claims that Ripple depends on XRP to scale its payment infrastructure, and XRP holders have a direct stake in whether that system succeeds or fails.

同樣，他聲稱波紋取決於XRP來擴展其付款基礎架構，而XRP持有人在該系統是否成功還是失敗時有直接的利益。

"The company is reliant on it, much like a pharmaceutical company is dependent on its patent to generate revenue and value," said the researcher.

研究人員說：“該公司依靠它，就像一家製藥公司依賴其專利來產生收入和價值一樣。”

SMQVE added that XRP does not grant voting rights or legal claims over Ripple’s business, but it still places holders in a position where their fortunes rise and fall with the company’s progress. For context, investor sentiment around XRP has depended on Ripple’s developments over the years.

Smqve補充說，XRP不對Ripple的業務授予投票權或法律索賠，但它仍然使持有人處於隨著公司的進步的命運而下降的位置。就上下文而言，XRP周圍的投資者情緒取決於多年來的波紋發展。

"In essence, XRP functions like the intellectual property behind Ripple's ecosystem, making those who hold it de facto backers of that system," said SMQKE.

Smqke說：“從本質上講，XRP的功能就像波紋生態系統背後的知識產權一樣，使那些事實上的支持者成為該系統的支持者。”

In his analogy, Ripple is the pharmaceutical firm, XRP functions like the patent, and RippleNet (now part of Ripple Payments) is the real-world application.

在他的類比中，Ripple是製藥公司，XRP諸如專利之類的功能，Ripplenet（現在是Ripple Payments的一部分）是現實世界中的應用程序。

When an XRP holder pointed out that RippleNet can operate without XRP, SMQKE referenced a 2020 study conducted by researchers from Imperial College London and University College London, highlighting the nearly 600,000 transactions that occurred daily on the XRP Ledger in 2019.

當XRP持有人指出Ripplenet可以在沒有XRP的情況下運行時，SMQKE引用了倫敦帝國學院和倫敦倫敦帝國學院的研究人員進行的一項2020年研究，強調了2019年XRP Ledger每天發生的近60萬筆交易。

According to the study, XRP overwhelmingly dominated payment volume on the XRP Ledger, processing hundreds of millions of XRP daily. Notably, this usage shows how deeply integrated XRP is within Ripple’s infrastructure, even if the company allows clients the flexibility to bypass it.

根據這項研究，XRP在XRP Ledger上壓倒性地佔據了支付量，每天處理數億XRP。值得注意的是，此用法表明了XRP在Ripple的基礎架構中的深入集成，即使該公司允許客戶靈活地繞過它。

He also highlighted an Atlantis Press report which claimed that as long as Ripple’s payment solutions remain widely adopted, XRP would continue to function as a central component in cross-border transactions.

他還強調了亞特蘭蒂斯新聞界的報告，該報告聲稱，只要Ripple的支付解決方案仍被廣泛採用，XRP將繼續充當跨境交易中的核心組成部分。

However, it is important to note that Ripple itself has confirmed that its payments product can operate independently of XRP. Clients have the option to use XRP as a bridge currency, but they are not required to do so.

但是，重要的是要注意，Ripple本身已經確認其付款產品可以獨立於XRP運行。客戶可以選擇使用XRP作為橋樑貨幣，但不需要這樣做。