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Announcing Dynamic XRP Pricing: Stable API Costs in a Volatile Market

We are thrilled to introduce Dynamic XRP Pricing, a new feature on Dhali designed to bring stability and predictability to API monetization for both providers and consumers. In the often-volatile world of cryptocurrency, this feature allows API providers to price their services in a stable currency (RLUSD) while continuing to accept payments seamlessly in XRP.

The Challenge: Price Volatility

One of the biggest hurdles for businesses using cryptocurrencies for payments is price volatility. An API provider setting a price in XRP could see their revenue fluctuate significantly due to market movements. Similarly, an API consumer might face unpredictable costs for the same service from one day to the next. This uncertainty creates friction and complicates financial planning for everyone.

How Dynamic XRP Pricing Works

Dynamic XRP Pricing elegantly solves this problem. Here’s how it works:

  1. Price in a Stablecoin: API providers can now set their API's price in RLUSD, a stablecoin pegged to the US dollar.
  2. Pay in XRP: API consumers continue to pay for API calls using XRP, just as they always have.
  3. Real-Time Conversion: Dhali automatically handles the conversion at the moment of the transaction, calculating the equivalent XRP amount based on the real-time exchange rate.

The result? The real-world cost of an API call remains constant and predictable, regardless of XRP's market price.

Dhali's Dynamic XRP Pricing feature UI, showing how to price an XRPL API in RLUSD

Benefits for Everyone

This feature offers significant advantages for the entire Dhali ecosystem:

  • For API Providers:

    • Predictable Revenue: Lock in your earnings in a stable currency, eliminating the risk of revenue loss due to XRP price drops.
    • Simplified Pricing: Set your prices once in RLUSD and let Dhali handle the rest. No more manually adjusting XRP prices to keep up with the market.

  • For API Consumers:

    • Stable Costs: Know exactly what you're paying for in real-world terms, making budgeting for API usage straightforward.
    • Continued Convenience: Enjoy the speed and efficiency of XRP payments without exposure to price volatility for your API expenses.

How to Enable It

Getting started with Dynamic XRP Pricing is incredibly simple. If you're an API provider on Dhali:

  1. Go to the Dhali App.
  2. Navigate to "My APIs" and select the API you wish to update.
  3. Click "Edit" and in the pricing section, simply choose RLUSD as your pricing currency.

That's it! Dhali will now dynamically calculate the XRP cost for each API call based on your stable RLUSD price.

Conclusion

Dynamic XRP Pricing is a major step forward in making crypto-based API monetization practical and reliable for mainstream business use. By removing the friction of price volatility, we're making it easier than ever for providers to earn predictable revenue and for consumers to access services at stable prices.

Log in to your Dhali account today to give it a try!