Specifically the key points of the agreement are:
"Ripple will release any claim it has on the funds currently deposited with the federal District Court for the Northern District of California and Stellar will take possession of these funds.
Jed will donate 2 billion XRP to a charitable donor-advised fund ("DAF") of his choice. The same limits are placed on the ability of the charity to sell the XRP as are placed on the Jed's ability to sell his remaining XRP.
All of Jed and his children's remaining XRP, approximately 5.3 billion XRP, will be placed in a custody account at Ripple. While Jed retains full title and ownership of his remaining XRP, Ripple will control the release of his XRP in a manner consistent with the settlement agreement. Specifically, Jed will be allowed to sell his remaining XRP in the following manner:
- for the first year of the agreement Jed and the DAF will be able to collectively sell 0.5 percent of the Average Daily Volume of XRP for each day of the week, including weekends and holidays.*
- for the second and third years of this agreement, Jed and the DAF will be able to collectively sell for each day of the week 0.75 percent of the Average Daily Volume.
- for the fourth year of the agreement, Jed and the DAF will be able to collectively sell for each day of the week 1.0 percent of the Average Daily Volume.
for any time after the fourth year of the agreement, for each day of the week Jed and the DAF will be able to sell 1.5 percent of the Average Daily Volume.
We at Ripple are pleased with the outcome of this agreement. It provides predictability and clarity about distribution of the largest individual holding of XRP in a way that fosters good health and growth in the Ripple ecosystem. "
"Ripple will release any claim it has on the funds currently deposited with the federal District Court for the Northern District of California and Stellar will take possession of these funds.
Jed will donate 2 billion XRP to a charitable donor-advised fund ("DAF") of his choice. The same limits are placed on the ability of the charity to sell the XRP as are placed on the Jed's ability to sell his remaining XRP.
All of Jed and his children's remaining XRP, approximately 5.3 billion XRP, will be placed in a custody account at Ripple. While Jed retains full title and ownership of his remaining XRP, Ripple will control the release of his XRP in a manner consistent with the settlement agreement. Specifically, Jed will be allowed to sell his remaining XRP in the following manner:
- for the first year of the agreement Jed and the DAF will be able to collectively sell 0.5 percent of the Average Daily Volume of XRP for each day of the week, including weekends and holidays.*
- for the second and third years of this agreement, Jed and the DAF will be able to collectively sell for each day of the week 0.75 percent of the Average Daily Volume.
- for the fourth year of the agreement, Jed and the DAF will be able to collectively sell for each day of the week 1.0 percent of the Average Daily Volume.
for any time after the fourth year of the agreement, for each day of the week Jed and the DAF will be able to sell 1.5 percent of the Average Daily Volume.
We at Ripple are pleased with the outcome of this agreement. It provides predictability and clarity about distribution of the largest individual holding of XRP in a way that fosters good health and growth in the Ripple ecosystem. "
Thanks for the clarification, spend some money at a low and a high (fail) point. Hopefully holding on to my XRP will come out positive in the future
