Ripple USD on the Ethereum network

The Ripple USD stablecoin is an ERC-20 compliant token. The ERC-20 design includes standard imported functions from OpenZeppelin, and specific functions written by Ripple Engineers.

Using the ERC-20 standard for issuing a stablecoin smart contract is advantageous due to its wide adoption and compatibility with wallets, exchanges, and DeFi platforms. This ensures interoperability and liquidity. The standard's well-reviewed and tested code enhances security, while its predefined functions simplify development.

Smart contracts

The Ripple USD stablecoin token follows the proxy upgrade pattern, which is a design architecture that separates the logic and data of the token contract into different contracts.

There are two key contracts that users need to be aware of:

  • ERC-20 implementation contract : The ERC-20 contract contains the main business logic for the Ripple USD token, and is the first contract deployed on the blockchain.
  • Proxy contract : The proxy contract acts as an interface to the actual implementation contract. It holds the address of the implementation contract and delegates calls to it. The contract does not contain any business logic.

When interacting with the Ripple USD stablecoin, developers should use the Proxy contract address.

To learn more about the technical details of the token and the deployed smart contracts, see the Ripple USD Github repository.

Networks

The Ripple USD stablecoin is available on the Ethereum Mainnet and Sepolia Testnet networks.

Mainnet

A Mainnet, short for main network, is the primary and fully functional blockchain network where real transactions are processed and actual value is transferred. The Mainnet is the live environment that operates the main ledger, as opposed to Testnets which are used for development and testing purposes. Ripple USD tokens on a Mainnet are backed by real-word assets.

Mainnet tokens

Mainnet Ripple USD tokens hold real financial value, therefore you should not use Mainnet for testing purposes.

Below you can find the Mainnet details for the Ripple USD token:

Testnet

A Testnet, short for test network, operates similarly to a Mainnet but without the associated real-world value and financial risk. Testnets allow developers to test out features in a safe environment. For example, a developer can test out smart contracts that interact with the Ripple USD token to ensure they work correctly.

Testnet tokens

Ripple USD tokens on a Testnet hold no financial value, are intended for testing purposes only, and are not backed by real-world assets.

Here are the Testnet details for the Ripple USD token:

Further reading