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The RippleX proposal aims to make multi-purpose tokens (MPTs) easier to discover, categorize, and integrate within the XRP ledger.
The new metadata standard is optional but may significantly enhance visibility and discoverability for token issuers.
The strategic initiatives of RippleX, such as tokenization of real estate and EVM-compatible sidechains, continue to expand the XRP Ledger ecosystem.
RippleX has proposed a new initiative aimed at improving the discoverability and usability of multi-purpose tokens (MPTs) on the XRP ledger. The proposal focuses on a unified metadata schema that addresses the challenges posed by the current free-form metadata field, which has made it difficult for both developers and users to sort and compare multi-purpose tokens. This proposed standard aims to simplify token discovery, ultimately enhancing the user experience across the XRP ledger ecosystem.

The main objective of the new metadata proposal is to facilitate the process of identifying, classifying, and searching for MPT tokens by both users and developers. Under the current system, the nature of free metadata allows token issuers to attach random data, which may hinder the identification and sorting of tokens. The new proposal outlines a standardized schema that includes several key fields to enhance organization.

The standard metadata fields will include the currency code (, a unique code representing it ), the name (, a full description for easy identification ), the description (, a brief overview of the currency's purpose ), the icon (, a link to the currency's image ), and the asset class (, such as gaming or decentralized finance ). These fields are intended to provide essential details about the currency and enhance its visibility within the ecosystem.

Optional adoption with developer guidelines
While the adoption of this new metadata standard is optional, RippleX has made it clear that token issuers who adhere to this standard are likely to gain greater visibility and integration for their tokens within the XRP Ledger ecosystem. To assist developers, RippleX will include warnings in the development packages (xrpl.js, xrpl-py, xrpl4j) if the tokens do not contain the recommended metadata. This guidance will ensure that developers are aware of the potential visibility challenges their tokens may face without the updated metadata.

This flexible approach allows token issuers to decide whether they want to implement changes, providing greater room for experimentation while encouraging the adoption of a more standardized metadata format.