$XRP

As Yale economist Gary Gorton notes, "Ripple and XRPL are not the same entity".[1] Shortly after the XRPL was launched, McCaleb, Britto and Chris Larsen founded the company Open Coin in September 2012 to operate on the ledger. On September 26, 2013, OpenCoin officially changed its name to Ripple Labs, Inc and was at the time headed by Chris Larsen. Unlike many cryptocurrencies, XRP was pre-mined, with 100 billion tokens created at inception.[8][14] The XRPL founders gifted 80 billion XRP, the platform's native currency, to Ripple Labs.[4] Ripple Labs holds a portion of XRP and periodically releases tokens into circulation through sales, aiming to maintain market stability.