The team at Ripple has announced a new accelerator plan for financial institutions joining RippleNet. The said institutions need to be first in their markets to process and promote commercial payments on RippleNet. Funded by $300 Million in XRP from Ripple’s holdings, the rewards will be processed via volume rebates and an adoption marketing incentive.
In the case of the volume rebate, it is available in XRP or USD and meant to accelerate the adoption and usage of Ripple solutions. The team at Ripple has explained that selling restrictions will apply to customers willing to receive XRP for the rebate. Such restrictions are necessary to prevent any harm to the XRP markets if the assets are suddenly sold in bulk.