Bybit RLUSD Program Hits $50M and Adds XRP Rewards

Bybit has kicked off Phase 2 of its Hold and Earn program for RLUSD, the stablecoin issued by Ripple. The platform saw quick success during the initial launch, pulling in over 50 million dollars in assets under custody in just 11 days. This program is designed for users who want to earn yield without the hassle of traditional staking or long lock up periods.

The update brings a fresh structure that rewards users with both RLUSD and XRP. Holders now receive a base APR in RLUSD along with daily bonus rewards in XRP. Bybit also introduced a multiplier for those who stick with the program, offering up to two times the base APR for accounts that maintain their holdings for 30 days or longer.

Ripple provides the XRP rewards as part of its ecosystem incentive program. Because the system calculates earnings based on both the total volume held and the length of time assets stay in the account, it incentivizes long term participation. Traders looking for yield on stablecoins should monitor how this dual token model affects RLUSD liquidity in the coming weeks.