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For more information about cookies, see our","modal_disclaimer_cookie_policy":"Cookie Policy","modal_disclaimer_cookie_button_ok":"I am okay with all cookies","modal_disclaimer_cookie_button_cancel":"Accept only essential cookies","modal_disclaimer_classic_button_close":"Close","modal_disclaimer_classic_description":"Yellow Exchange is now switching to OpenDAX v4 to connect to Yellow Network in future","modal_disclaimer_classic_learn":"learn more.","modal_disclaimer_classic_continue":"You can still access stable older version here:","page_body_settings_header_label":"Settings","page_body_settings_rows_language":"Language","page_body_settings_rows_theme":"Theme","page_sidebar_navigation_settings":"Settings","page_header_button_login":"Login","page_empty_state_default_label":"No data to show","page_zero_state_button_login":"Login","page_activity_title":"Activity","page_activity_nav_tabs_dashboard":"Dashboard","page_activity_nav_tabs_applications":"Applications","page_activity_nav_tabs_quests":"Quests","page_airdrop_title":"Airdrop","page_airdrop_title_season_number":"Season Four:","page_airdrop_title_season_name":"True Yellowists & Slaying Sybil","page_airdrop_live":"LIVE","page_airdrop_description":"Join the leaderboard to unlock exclusive rewards and gain priority access in the Yellow Network ecosystem.","page_airdrop_rules_create_account":"Create an Account:","page_airdrop_rules_create_account_description":" Sign up easily via Web2 (email, social login) or Web3 (MetaMask, WalletConnect).","page_airdrop_rules_lock_tokens":"Lock Tokens:","page_airdrop_rules_lock_tokens_description":"  Lock whitelisted tokens on the Season 4 page to support Yellow Network’s growth.","page_airdrop_rules_earn_points":"Earn Points:","page_airdrop_rules_earn_points_description":"  Gain points daily by claiming daily, completing tasks, and inviting friends.","page_airdrop_rules_leaderboard":"Climb the Leaderboard:","page_airdrop_rules_leaderboard_description":" Compete for top rewards and $YELLOW airdrops at TGE.","page_airdrop_button_join":"Join Airdrop Now","page_applications_title":"Applications","page_applications_title_description":"Discover, connect, and thrive with top dapps in DeFi. Embrace the web3 with us.","page_applications_yellow_terminal":"Yellow Terminal","page_applications_yellow_terminal_description":"Yellow Terminal is a highly optimized, cross-chain application designed for seamless and secure trading of cryptocurrency assets.","page_applications_syncswap":"SyncSwap","page_applications_syncswap_description":"SyncSwap is a seamless decentralized exchange DEX on Ethereum ZK Rollups, brings easy-to-use and low-cost DeFi to everyone with full Ethereum security powered by zero-knowledge technology.","page_applications_mendi_finance":"Mendi Finance","page_applications_mendi_finance_description":"Mendi Finance is a decentralized lending protocol for individuals, institutions and protocols to access financial services. It is a permissionless, open source protocol serving users on Linea. Users can deposit their assets, use them as collateral and borrow against them.","page_applications_quick_swap":"Quickswap","page_applications_quick_swap_description":"QuickSwap is a next-gen #DEX for #DeFi. Trade at lightning-fast speeds with near-zero gas fees.","page_applications_pancake_swap":"Pancakeswap","page_applications_pancake_swap_description":"PancakeSwap is a leading multichain decentralized exchange that operates on an automated market maker (AMM) model built on BNB Chain, Ethereum, and Aptos.","page_applications_echo_dex":"EchoDEX","page_applications_echo_dex_description":"EchoDEX has launched its mainnet, allowing users to utilize nearly all features. However, some asset types will be added soon, such as USDT, USDC, DAI, and more","page_applications_sushi":"Sushi","page_applications_sushi_description":"Sushi (sushi.com) is a decentralized trading platform, we aim to be a one-stop shop for all your Decentralized Finance (DeFi) needs.","page_applications_orbiter_finance":"Orbiter-Finance","page_applications_orbiter_finance_description":"Orbiter Finance is a ZK-tech Based Ethereum Acceleration Engine, boosting L2s performance and decreasing gas consumption.","page_application_coming_soon":"Coming soon","page_global_error_title":"Internal server error","page_global_error_button_reload":"Reload","page_join_button_link_email":"Join Whitelist","page_join_button_register":"Register for the Whitelist","page_join_title_secure":"Secure Your Spot","page_join_title_join":"Join the Yellow Network Waitlist","page_join_timer_title_days":"Days","page_join_timer_title_hours":"Hours","page_join_timer_title_minutes":"Minutes","page_join_timer_title_seconds":"Seconds","page_join_tracker_title":"Progress Tracker","page_join_tracker_label_register":"Register","page_join_tracker_label_link_email":"Link Your Email to Join the Waitlist","page_join_tracker_label_check_eligibility":"Checking Eligibility","page_join_tracker_label_you_in":"You are In!","page_join_wantmore":"Want more rewards?","page_join_airdrop_page":"Join our Airdrop Campaign!","page_join_header_check":"Check \n<bolder>Eligibility!</bolder>","page_join_header_eligible":"You are \n<bolder>eligible!</bolder>","page_join_header_not-eligible":"Waitlist is \n<bolder>closed!</bolder>","page_join_description_title_check":"Get ready for takeoff!","page_join_description_title_eligible":"Congratulations!","page_join_description_title_not-eligible":"Missed this flight?","page_join_description_text_check":"Check if you’re cleared to join the Exclusive Yellow Waitlist. Take the first step towards your exciting Yellow adventure! <medium>See you in the New Year for next steps!</medium>","page_join_description_text_eligible":"Congratulations! You have made it to the exclusive Yellow Waitlist. Invite your friends to continue earning rewards and give them a chance to receive <medium>a shared boarding pass.</medium> \n\n<medium>Check back in the new year for next steps!</medium>","page_join_description_text_not-eligible":"Missed this flight? Don’t worry—another boarding call <medium>is coming soon!</medium> Check back in the new year for <medium>your chance to secure a spot.</medium>","page_join_header_last-call":"Last Call","page_join_header_coming-soon":"Token Sale \nComing Soon","page_join_header_buy_cheaper":"Prepare for the $YELLOW Token Sale, Create Your Republic Account Today!","page_join_description_title_last-call":"Shared boarding pass","page_join_description_text_last-call":"You’re almost there! Keep making progress until you hit 100%, and you’ll secure your <medium>shared boarding pass</medium>. Rally your friends to join in and speed things along. \n\n Don't miss out—stay connected and we'll update you when you're added to the Exclusive Yellow Whitelist!","page_join_description_cooming-soon":"Yellow's token sale is on the horizon, and this is your chance to be part of the next big thing since Bitcoin.","page_join_referral_description":"Get 15% from your friends score","page_join_last-call_tapped-today":"Tapped today","page_join_last-call_tapping-now":"Tapping now","page_join_last-call_circle-title":"On the way to the <bolder>boarding pass</bolder> 🚀","page_join_cta_create_account":"Create a Republic account","page_join_description_republic-sale":"The <b>$YELLOW</b> token will be available for purchase on Republic in the next coming weeks. \n\nIn order to participate you will need to join the whitelist by registering on <ycom>Yellow.com</ycom> and create a Republic account, here is a <guide>guide.</guide> \n\nKeep an eye on our socials for the sale date announcement. \n\nBuy cheaper than the VC’s date and be a part of the next big thing since Bitcoin!","page_join_description_republic-sale_in":"Congratulations, you are on the whitelist! \n\nThe $YELLOW token will be available for purchase on Republic in the next coming weeks. \n\nIn order to participate, you will now need to create a Republic account, here is a <guide>guide.</guide> \n\nKeep an eye on our socials for the sale date announcement. \n\nBuy cheaper than the VC’s and be  a part of the next big thing since Bitcoin!","page_joinvip_header_coming-soon":"Exclusive VIP Portal","page_joinvip_description_cooming-soon":"Be the first to know! \nGain early access to exclusive updates and priority notifications before anyone else. Join the VIP list and stay ahead of the curve.","page_joinvip_tracker_label_link_email":"Link Your Email to Join the VIP list","page_body_season_period_finished":"FINISHED","page_body_season_period_upcoming":"UPCOMING","page_body_season_period_live":"LIVE","page_leaderboard_title":"Leaderboard","page_leaderboard_your_total_score":"Your total score","page_leaderboard_table_header_name":"Name","page_leaderboard_table_header_score":"Score","page_leaderboard_leagues_title":"Leagues","page_quests_title":"Quests","page_quests_season_description":"Discover, connect, and thrive with top dapps in DeFi. Embrace the web3 with us.","page_quests_list_zerostate_title":"Log in to unlock rewards and social tasks","page_quests_list_button_collapse_all":"Collapse All","page_quests_list_item_link_view_link":"View Link","page_quests_list_item_completed":"COMPLETED","page_quests_list_item_view_tutorial":"View Tutorial","page_quests_list_item_verify":"Verify","page_quests_action_button_link":"Link","page_quests_tutorial_video_not_supported":"Your browser does not support the video tag.","page_quests_earn_title":"Earn","page_quests_earn_started_quests":"Started Quests","page_quests_earn_empty_state_label":"You haven't started any quests","page_quests_daily_received_table_header_token":"Token","page_quests_daily_received_table_header_Amount":"Amount","page_quests_daily_received_table_label":"Received assets table","page_quests_daily_claim_table_data_points":"Daily points","page_quests_daily_claim_table_streak":"Streak","page_quests_daily_actions_contract_address":"Contract Address","page_quests_daily_actions_method":"Method","page_quests_daily_actions_checkin":"checkin","page_quests_daily_captcha_verification":"Captcha verification","page_quests_daily_section_break_season":"Season 4 - True Yellowists & Slaying Sybil","page_quests_daily_season_description":"Every daily claim fuels your journey in Season 4 - True Yellowists & Slaying Sybil! Consistent claims unlock greater rewards - keep up the momentum and maximize your airdrop potential!","page_quests_daily_section_break_actions":"Actions","page_quests_daily_section_break_fees":"Fees","page_quests_daily_button_close":"Close","page_quests_daily_button_claim":"Claim","page_quests_daily_no_activity_title":"Failure","page_quests_daily_no_activity_reason":"You are not eligible for the daily reward as you have no trading activity yesterday.","page_quests_daily_no_activity_be_active":"Be active trader today, and come for your daily reward tomorrow!","page_quests_daily_success_title":"Claim successful","page_quests_daily_success_tx_confirmed":"Your transaction is now completed and confirmed on the network.","page_quests_daily_success_section_break_season_title":"Season 4  - True Yellowists & Slaying Sybil","page_quests_daily_success_claim_streak":"Claiming Streak","page_quests_daily_success_points_awarded":"Points Awarded","page_quests_daily_success_tx_hash":"Transaction hash","page_quests_daily_success_button_close":"Close","page_quests_daily_allowance-processing_title":"Allowance in Progress","page_quests_daily_allowance-processing_desc":"Your transaction is being processed. Please wait a moment for the allowance to complete.","page_quests_daily_processing_title":"Claim in Progress","page_quests_daily_processing_desc":"This claim brings you closer to top rewards in The Arrival.","page_quests_daily_rejected_title":"Claim Failed","page_quests_daily_modal_title":"Claim Points","page_quests_daily_quest_countdown":"Next claim in","page_quests_daily_questitem_claim_points":"Claim Points","page_quests_daily_questitem_claimed":"Claimed","page_quests_daily_questitem_daily_points":"Daily points","page_quests_daily_questitem_claim_title":"Claim Your Daily Reward","page_quests_daily_questitem_button_claim":"Claim","page_quests_daily_questitem_button_refresh_in":"Refresh in:","page_quests_questleaderboard_title":"Leaderboard","page_quests_questleaderboard_zero_state_title":"Log in to take your place in the leaderboard and earn rewards","page_quests_questleaderboard_button_view":"View Leaderboard","page_quests_user_scores_locking":"Locking points","page_quests_user_scores_quests":"Quests/tasks points","page_quests_user_scores_trading":"Trading points","page_quests_user_scores_daily":"Daily claims points","page_quests_user_scores_title_total_points":"Your total points","page_quests_user_scores_title_value_locked":"Your value locked","page_seasons_earn_quests_title":"Earn points with quests","page_seasons_earn_quests_link_title":"View All Quest","page_seasons_earn_quests_zero_state_title":"Log in to unlock quests","page_seasons_earn_quests_zero_state_social_title":"Social tasks","page_seasons_earn_quests_zero_state_social_subtitle":"Earn points with quests","page_seasons_referral_title":"Invite friends to get more points","page_seasons_leaderboard_title":"Leaderboard","page_seasons_leaderboard_total_score_title":"Your total score","page_seasons_scores_asset_lock_title":"Lock to join Yellow ecosystem","page_seasons_scores_info_coming_soon_desc":"Your leaderboard points for the upcoming season will be visible once it begins. In the meantime, you can continue to lock, claim daily rewards, and complete social tasks to prepare","page_seasons_scores_info_total_community":"Total community value locked","page_seasons_scores_info_checklist_earn":"Earn Your Share: $YELLOW tokens will be distributed based on your leaderboard points by season at the token launch.","page_seasons_scores_info_checklist_boost":"Boost Your Points: Lock assets, claim daily, and amplify your daily bonus by transacting from your Yellow Vault.","page_seasons_asset_lock_connect_external_label":"Link a Wallet","page_seasons_asset_lock_link_account_header":"Link your email to secure your account!","page_seasons_asset_lock_link_account_header_link":"Link","page_seasons_asset_lock_locked_assets_table_token":"Token","page_seasons_asset_lock_locked_assets_table_amount":"Amount","page_seasons_asset_lock_locked_assets_table_label":"Assets table","page_seasons_assetlock_lockform_alert_error_text":"An error occurred while transferring funds.","page_seasons_assetlock_lockform_alert_error_type":"Transfer Error","page_seasons_assetlock_lockform_alert_success_text":"Funds have been successfully transferred.","page_seasons_assetlock_lockform_alert_success_type":"Transfer Success","page_seasons_assetlock_lockform_lock_error_type":"Lock Error","page_seasons_assetlock_lockform_lock_error_text":"An error occurred while locking funds.","page_seasons_assetlock_lockform_allocation":"Your season {selectedSeasonId} allocation","page_seasons_assetlock_lockform_amount_equivalent":"$${amount} worth of","page_seasons_assetlock_lockform_not_eligible":"Unfortunately, you are not eligible for the Season Airdrop.","page_seasons_assetlock_lockform_season-end":"Season {selectedSeasonId} is finished","page_seasons_assetlock_lockform_season-end_allocation":"All tokens will be distributed following the Token Generation Event (TGE).","page_seasons_assetlock_lockform_season-end_allocation_not_eligible":"Sorry, you are not eligible for the YELLOW token allocation in Season 3. However, the journey doesn't end here! Seasons will continue beyond Season 3, and we’re excited to introduce Season 4. You can keep earning leaderboard points and participate actively in the Yellow ecosystem for more rewards","page_seasons_assetlock_lockform_season-end-eligibility-details":"Season 4 eligibility details will be revealed when the new season starts. In the meantime, you can: Lock tokens to secure your spot. Claim daily rewards to boost your balance.","page_seasons_assetlock_lockform_season-end_button_join":"Join Season","page_seasons_assetlock_lockform_from":"From","page_seasons_assetlock_lockform_activechain_tooltip":"Switch networks in the top right corner","page_seasons_assetlock_lockform_asset_empty":"No assets found.","page_seasons_assetlock_lockform_input_amount_label":"Amount","page_seasons_assetlock_lockform_input_button_max":"MAX","page_seasons_assetlock_lockform_available_title":"Available","page_seasons_assetlock_lockform_button_lock":"Lock","page_seasons_assetlock_lockformloaders_waiting":"Waiting for {for}","page_seasons_assetlock_lockformloaders_waiting_locking":"locking","page_seasons_assetlock_lockformloaders_waiting_unlocking":"unlocking","page_seasons_assetlock_lockformloaders_wait":"Wait for the {for} to finish.","page_seasons_assetlock_lockformloaders_wait_lock":"lock","page_seasons_assetlock_lockformloaders_wait_unlock":"unlock","page_seasons_assetlock_lockformloaders_thank":"Thank you!","page_seasons_assetlock_lockformloaders_processing":"Processing","page_seasons_assetlock_lockformloaders_tx-hash":"Tx hash:","page_seasons_assetlock_lockformloaders_success_title":"{type} Successful","page_seasons_assetlock_lockformloaders_success_title_lock":"Lock","page_seasons_assetlock_lockformloaders_success_title_unlock":"Unlock","page_seasons_assetlock_lockformloaders_success_desc":"Your assets have been {type} successfully.","page_seasons_assetlock_lockformloaders_success_desc_locked":"locked","page_seasons_assetlock_lockformloaders_success_desc_unlocked":"unlocked","page_seasons_assetlock_lockformloaders_success_button":"Close","page_seasons_assetlock_lockformloaders_error_title":"{type} Failed","page_seasons_assetlock_lockformloaders_error_title_lock":"Lock","page_seasons_assetlock_lockformloaders_error_title_unlock":"Unlock","page_seasons_assetlock_lockformloaders_error_desc":"Something went wrong. Please try again.","page_seasons_assetlock_lockformloaders_error_button":"Dismiss","page_seasons_assetlock_lockformloaders_waiting_unbonding":"Requesting Unlock","page_seasons_assetlock_lockformloaders_wait_unbonding":"unlock request","page_seasons_assetlock_lockformloaders_success_title_unbonding":"Unlock Request Sent","page_seasons_assetlock_lockformloaders_success_desc_unbonding":"Your unlock request has been submitted.","page_seasons_assetlock_lockformloaders_error_title_unbonding":"Unlock Request Failed","page_seasons_assetlock_lockformloaders_error_desc_unbonding":"Something went wrong. Please try again.","page_seasons_assetlock_lockform_estimated_fee":"Estimated Fee","page_seasons_assetlock_lockform_insufficient_balance_warning":"Insufficient balance for fees.","page_seasons_assetlock_overview_title":"Lock Overview","page_seasons_assetlock_overview_sectionbreak_details":"Details","page_seasons_assetlock_overview_from":"From","page_seasons_assetlock_overview_contract":"Lock Contract","page_seasons_assetlock_overview_sectionbreak_tokens":"Tokens","page_seasons_assetlock_overview_sectionbreak_fees":"Fees","page_seasons_assetlock_overview_button_cancel":"Cancel","page_seasons_assetlock_overview_button_lock":"Lock","page_seasons_assetlock_unlock_alert_success_type":"Unlock Success","page_seasons_assetlock_unlock_alert_success_text":"Funds have been successfully unlocked.","page_seasons_assetlock_unlock_alert_error_type":"Unlock Error","page_seasons_assetlock_unlock_alert_error_text":"An error occurred while unlocking funds.","page_seasons_assetlock_unlock_empty_label":"You currently have no locked assets","page_seasons_assetlock_unlock_wallet":"Wallet","page_seasons_assetlock_unlock_network_warning":"Unlocking is chain-specific. Ensure you have enough Native Tokens on the respective blockchain to cover the transaction fee for unlocking your funds","page_seasons_assetlock_unbond_network_warning":"Requesting Unlock is chain-specific. Ensure you have enough Native Tokens on the respective blockchain to cover the transaction for sending the request of unlock.","page_seasons_assetlock_unlock_button":"Unlock","page_seasons_assetlock_unbond_button":"Request Unlock","page_seasons_assetlock_unlock_live_title":"LOCKING CAMPAIGN","page_seasons_assetlock_unlock_upcoming_title":"Season {selectedSeason}","page_season_assetlock_unlock_live_title_connector":"IS","page_season_assetlock_unlock_live_text":"LIVE","page_season_assetlock_unlock_upcoming_text":"UPCOMING","page_season_assetlock_unlock_ongoing":"Withdrawals from locked funds can only be made manually between Seasons. After a Season ends, you'll have a window to withdraw your funds before the next Season begins. Once the new Season starts, withdrawals are restricted until the Season concludes.","page_season_assetlock_unlock_active":"Season {selectedSeasonId} is finished","page_season_assetlock_unlock_active_desc-p1":"New Season starts, withdrawals are restricted","page_season_assetlock_unlock_active_desc-p2":"until the new Season concludes.","page_season_assetlock_unlock_active_button":"Join Season {selectedSeasonId}","page_season_assetlock_unlock_link_email_title":"Unlock is active. Season 3 is finished","page_season_assetlock_unlock_link_email_desc":"To unlock, please link your email first","page_season_assetlock_unlock_link_email_button_link":"Link Email","page_season_assetlock_unlock_link_email_button_unlock":"Unlock","page_seasons_assetlock_cooldown_modal-title":"Cooling-Down Period","page_seasons_assetlock_cooldown_modal-title-external":"Transfer Funds","page_seasons_assetlock_cooldown_modal-title-external-progress":"Transferring Funds","page_seasons_assetlock_cooldown_modal-title-external-error":"Transfer Error","page_seasons_assetlock_cooldown_modal-title-external-success":"Transfer Success","page_seasons_assetlock_cooldown_modal-title-progress":"Locking Funds","page_seasons_assetlock_cooldown_modal-title-error":"Lock Error","page_seasons_assetlock_cooldown_modal-title-success":"Lock Success","page_seasons_assetlock_cooldown_modal_confirmation-description":"After requesting the unlock, you will have to wait <b>one week to</b> withdraw your funds.","page_seasons_assetlock_cooldown_modal_external_confirmation-description":"We’ll begin by <b>transferring funds from your external wallet</b> into your <b>Yellow Wallet</b> to prepare for locking.","page_seasons_assetlock_cooldown_modal_external_confirmation_button-confirm":"Transfer Funds","page_seasons_assetlock_cooldown_modal_locking_confirmation_button-confirm":"Lock","page_seasons_assetlock_cooldown_modal_confirmation_button-cancel":"Cancel","page_seasons_assetlock_cooldown_modal_confirmation_button-confirm":"Confirm","page_seasons_assetlock_cooldown_modal_progress_title":"In Progress","page_seasons_assetlock_unbonding_alert_success_type":"Request Successful","page_seasons_assetlock_unbonding_alert_success_text":"Your unlock request has been submitted successfully","page_seasons_assetlock_unbonding_alert_error_type":"Request Failed","page_seasons_assetlock_unbonding_alert_error_text":"There was an error processing your unlock request. Please try again","page_seasons_assetlock_cooldown_modal_progress_desc":"Request is processing. This might take a moment to complete.","page_seasons_assetlock_cooldown_modal_progress_button":"Processing","page_seasons_assetlock_cooldown_error_title":"Error","page_seasons_assetlock_cooldown_error_desc":"Something went wrong. Please try again.","page_seasons_assetlock_cooldown_error_button":"Close","page_seasons_assetlock_cooldown_success_title":"Successful","page_seasons_assetlock_cooldown_success_desc":"Request completed successfully!","page_seasons_assetlock_cooldown_success_button":"Close","page_season_assetlock_unlock_table_time_day-label":"d","page_season_assetlock_unlock_table_time_hour-label":"h","page_season_assetlock_unlock_table_time_minute-label":"min","page_season_assetlock_unlock_time_modal-title":"Unlock Assets","page_season_assetlock_unlock_time_modal_desc":"You need to wait for the cooldown period to end.\nYou will be able to unlock you funds in \n <b>{time}.</b>","page_season_assetlock_unlock_time_modal_desc_days":" days","page_season_assetlock_unlock_time_modal_desc_hours":" hours","page_season_assetlock_unlock_time_modal_desc_minutes":" minutes","page_season_assetlock_unlock_time_modal_button":"Close","page_seasons_assetlock_cooldown_form_warning":"An unlocking request is currently in progress. No new funds can be locked until the cooldown period ends.","page_seasons_unlock_cooldown_modal-title":"Unlock Cooling-Down Period","page_seasons_unlock_cooldown_modal_confirmation-description":"<b>Are you sure?</b> Confirming will start a <b>one week</b> cooling-down period. You will be able to <b>lock or unlock after one week.</b>","page_seasons_unlock_cooldown_modal_confirmation_button-cancel":"Cancel","page_seasons_unlock_cooldown_modal_confirmation_button-confirm":"Confirm","page_season_assetlock_tabs_lock":"Lock","page_season_assetlock_tabs_unlock":"Unlock","page_season_assetlock_tabs_locked_assets":"Locked Assets","page_season_assetlock_zero-state-label":"Log in to join Yellow ecosystem","page_season_sticky_section_lock":"Lock","page_season_sticky_section_quests":"Quests","page_season_sticky_section_leaderboard":"Leaderboard","page_season_sticky_section_faq":"FAQ","page_season_referral_copy_text":"Copy invite link","page_season_referral_copied":"Copied","page_season_referral_reflink_title":"Ref link","page_season_referral_desc":"Get 15% from your friends points","page_season_leaderboard_currentuser_indicator":"YOU","page_season_leaderboard_currentleague_indicator":"current","page_season_leaderboard_current_table_label":"Leaderboard","page_season_leaderboard_next_table_label":"NextLeague","page_season_leaderboard_nextleague_zone":"Next League","page_season_faq_title":"Frequently Asked Questions","page_season_faq_button_collapse":"Collapse All","page_season_faq_item_1_title":"What are the Yellow Network Seasons?","page_season_faq_item_1_answer":"The Yellow Network Seasons are structured seasons of engagement in the early phase of Yellow Network, where participants can utilize and explore the platform’s features. By staking, participating in daily activities, and holding assets, participants can collect points on the leaderboard.","page_season_faq_item_2_title":"What are points used for?","page_season_faq_item_2_answer":"Points will be important for determining your eligibility for the $YELLOW token distribution at the time of launch. The higher your points, the more rewards you can earn.","page_season_faq_item_3_title":"How do I earn points in the Seasons?","page_season_faq_item_3_answer":"Points can be earned through:\n• Locking: Earn a bonus when you lock tokens in your Yellow Vault — the more you lock, the larger the bonus. You’ll also accumulate daily points that are added to your leaderboard score.\n• Daily Claims: Claim daily rewards to increase your points. Consistent daily claims (streaks) offer even higher bonuses.\n• Create Transactions:  Boost your daily claim rewards by making transactions from your Yellow Vault. Points earned from transactions must be claimed on the next day.\n• Wallet Net Asset Value: Holding assets in your Yellow Vault earns you points over time, with each $1 equaling one point. However, locking your assets yields significantly greater rewards.","page_season_faq_item_4_title":"How does the leaderboard work?","page_season_faq_item_4_answer":"The leaderboard tracks points earned by participants. It resets at the start of each new Season, ensuring fair competition. Each Season has its own leaderboard that resets at the start of a new season, ensuring continuous and fair competition.","page_season_faq_item_5_title":"How often is my score updated?","page_season_faq_item_5_answer":"Your score is updated every 10 minutes with points accumulated from all sources.","page_season_faq_item_6_title":"What should I do if I see a locking error after using MetaMask?","page_season_faq_item_6_answer":"If you initiated locking with MetaMask and noticed that your tokens left the wallet but received a locking error, check your Yellow Vault balance. Your tokens should be deposited to Yellow Vault, and you can proceed with locking directly from the wallet.","page_season_faq_item_7_title":"What tokens can be locked?","page_season_faq_item_7_answer":"You can lock whitelisted tokens on the networks available through the UI, such as ETH, Linea, Polygon, and more.","page_season_faq_item_8_title":"Can I withdraw my locked funds during a Season?","page_season_faq_item_8_answer":"Withdrawals from locked funds can only be made manually between Seasons. After a Season ends, you'll have a window to withdraw your funds before the next Season begins. Once the new Season starts, withdrawals are restricted until the Season concludes.","page_season_faq_item_9_title":"What are the Yellow Network Seasons?","page_season_faq_item_9_answer":"If you don't withdraw your tokens, they will automatically roll over into the next Season, continuing to earn you points until the end of that Season.","page_season_faq_item_10_title":"What is the allocation for the Season rewards?","page_season_faq_item_10_answer":"5% of the total supply of $YELLOW tokens is allocated for the early users.","page_season_faq_item_11_title":"What are the benefits of daily claims?","page_season_faq_item_11_answer":"Daily claims allow you to earn additional points and additional rewards with a streak system rewarding consistent daily claims.","page_season_faq_item_12_title":"Why should I lock my tokens?","page_season_faq_item_12_answer":"Staking supports brokers to share liquidity, helps you to earn rewards, and to climb the leaderboard. It also may offer future earnings from trading fees.","page_season_report_title":"Self-report multi-accounts","page_season_report_description":"To ensure a fair airdrop we ask participants to self report by declaring if you have used multiple Yellow Smart accounts to participate in the airdrop campaign.","page_season_report_button":"Self Report","page_season_form_report_title":"Self-Report Multi-Accounts","page_season_form_report_description_1":"To ensure a fair airdrop we ask participants to self report by declaring if you have used multiple Yellow Smart accounts to participate in the airdrop campaign.","page_season_form_report_description_2":"Self reporting does not disqualify you, it simply means that your allocation may be adjusted.","page_season_form_report_warning":"If you fail to self report and are flagged as a Sybil accounts by our internal team this will result in your smart accounts being blacklisted from the reward allocation.","page_season_form_report_input_email":"Email Addresses","page_season_form_report_input_email_placeholder":"Enter your email address","page_season_form_report_input_wallet":"Wallet Addresses","page_season_form_report_input_wallet_placeholder":"Enter your wallet address","page_season_form_report_cancel":"Cancel","page_season_form_report_submit":"Submit","page_season_form_report_in_progress_title":"In Progress","page_season_form_report_in_progress_desc":"Request is processing. This might take a moment to complete.","page_season_form_report_in_progress_button":"Processing","page_season_form_report_in_success_title":"Submitted","page_season_form_report_in_success_desc":"Request completed successfully!","page_season_form_report_success_message":"Self-report submitted successfully","page_season_form_report_success_title":"Success","page_season_form_report_error_message":"Failed to submit self-report","page_season_form_report_error_title":"Error","page_season_form_report_in_success_button":"Close","page_season_form_report_in_error_title":"Error","page_season_form_report_in_error_desc":"An error occurred while processing your request. Please retry.","page_season_form_report_in_error_button":"Close","page_season_self_report_header_title":"Self-Report Multi-Accounts","page_season_self_report_header_desc":"To ensure a fair airdrop we ask participants to self report by declaring if you have used multiple Yellow Smart accounts to participate in the airdrop campaign.","page_vault_quests_title":"Earn points","page_vault_title":"Vault","page_vault_title_desc":"Our non-custodial wallet gives you full ownership of your funds and private keys. No third parties - just security, and privacy.","page_vault_quests_zero_state_label":"Log in to unlock rewards and social tasks","page_vault_lock_title_season_started":"{name} started","page_vault_lock_title_score":"Total Score","page_vault_lock_title_locked":"Total Locked","page_vault_lock_title_button":"Participate now!","page_vault_toolbarassets_button_connect":"Connect","page_vault_toolbarassets_balance":"Total Balance","page_vault_toolbarassets_button_receive":"Receive","page_vault_toolbarassets_button_send":"Send","page_vault_connectedappmodal_network-supported":"Connected","page_vault_connectedappmodal_network-notsupported":"Unsupported Network","page_vault_connectedappmodal_current-network-notcompatible":"Your wallet's current network is not compatible with <bolder>{name}.</bolder>","page_vault_connectedappmodal_switch-network":"Please switch to a network that <bolder>{name}</bolder> supports to continue.","page_vault_connectedappmodal_button_disconnect":"Disconnect","page_wallet_title":"Wallet","page_wallet_swap_title":"Wallet - Swap","page_wallet_receive_title":"Wallet - Receive","page_wallet_send_title":"Wallet - Send","page_wallet_topup_title":"Wallet - Top Up","page_wallet_activity_title":"Wallet - Activity","page_wallet_meta_description":"Yellow Wallet is optimized for cross-chain DeFi usages, you can consider this wallet like your trade margin account.","page_assetselector_network_label":"Network:","page_assetselector_button_hide-zero":"Hide 0 Balance","page_assetselector_button_apply":"Apply","page_assetselector_network-selector_selected-network":"Select Network","page_overviewfeetoken_loading":"Executing","page_overviewfeetoken_success":"Success","page_overviewfeetoken_success_tx-hash":"Tx hash:","page_overviewfeetoken_failed":"Failed","page_overviewfeetoken_failed_tx-hash":"Tx hash:","page_overviewfeetoken_failed_error":"Error:","page_overviewfeetoken_title":"Fee Token Approval","page_overviewfeetoken_fee-currency":"Fee Currency","page_overviewfeetoken_fee-currency_tooltip":"The currency you will pay the fees in for the fee token approval transaction.","page_overviewfeetoken_fee-currency_no-asset":"No assets found.","page_overviewfeetoken_estimated":"Estimated Fee","page_overviewfeetoken_estimated_tooltip":"Approximated fees you need to pay for the fee token approval transaction.","page_overviewfeetoken_estimated_not-enough-funds":"Not enough funds","page_overviewfeetoken_estimated_not-enough-approved":"Not enough approved","page_assets_inputblock_button_max":"MAX","page_mobilesendstep_max-amount_balance":"On balance:","page_mobilesendstep_inputerrors_address":"Wrong address","page_mobilesendstep_inputerrors_funds":"Insufficient funds","page_mobilesendstep_add-more":"Add more tokens to send","page_mobilesendstep_textarea-placeholder":"Address","page_mobilesendstep_button_paste":"PASTE","page_mobilesendstep_button_send":"Send","page_mobilesendstep_networkbadge_network":"Network:","page_mobilesendstep_network_warning":"Make sure you <semibold>select the correct network</semibold> network for withdrawal, otherwise the funds may be lost. If you are not sure, it is better to contact support.","page_sendstep_filter_empty_label":"No token was found","page_sendstep_filter_label_token":"Token","page_sendstep_hide-zero":"Hide 0 Balance","page_sendstep_send-to":"Send To","page_sendstep_button_paste":"Paste","page_sendstep_addressinput_plcaeholder":"Address","page_sendstep_selected-tokens":"Selected Tokens","page_sendstep_select-to-send":"Select a token to send","page_sendstep_network_warning":"Make sure you <semibold>select the correct network</semibold> network for withdrawal, otherwise the funds may be lost. If you are not sure, it is better to contact support.","page_sendstep_button_send":"Send","page_withdrawaloverview_sectionbreak_actions":"Actions","page_withdrawaloverview_from":"From","page_withdrawaloverview_to":"To","page_withdrawaloverview_sectionbreak_tokens":"Tokens","page_withdrawaloverview_sectionbreak_fees":"Fees","page_withdrawaloverview_button_back":"Back","page_withdrawaloverview_button_send":"Send","page_importtokens_title":"Import assets","page_importtokens_network_warning":"Be careful when adding new tokens to your wallet. It's crucial to authenticate them first, as anyone can create imitation versions of existing tokens.","page_importtokens_input_contractaddress-label":"Token contract address","page_importtokens_input_contractaddress-placeholder":"Token contract address","page_importtokens_input_token-invalid":"Invalid address format.","page_importtokens_input_token-added":"Token already added.","page_importtokens_input_symbol-label":"Symbol","page_importtokens_input_symbol-placeholder":"Symbol","page_importtokens_input_symbol-invalid":"Symbol must be 1-5 uppercase letters.","page_importtokens_input_name-label":"Name","page_importtokens_input_name-placeholder":"Name","page_importtokens_input_name-invalid":"Name must be 1-30 alphanumeric characters or spaces.","page_importtokens_input_decimal-label":"Decimal","page_importtokens_input_decimal-placeholder":"Decimal","page_importtokens_input_decimal-invalid":"Decimal must be a number between 0 and 18.","page_importtokens_input_logo-label":"Logo (Optional)","page_importtokens_input_logo-placeholder":"Token Logo","page_importtokens_input_logo-invalid":"Invalid logo URL. Enter a valid URL pointing to an image, or leave blank for the default","page_importtokens_button_add":"Add token","page_receive_title":"Receive","page_receive_activenetwork":"Network:","page_receive_address":"Address:","page_receive_description":"Scan this code or copy your wallet address to receive funds on {chainName}","page_receive_networkwarning":"Make sure to send assets on <semibold>{chainName}</semibold>, or you might lose your funds.","page_receive_onramp_transfer_label":"Add funds is on-ramp or transfer funds from another wallet","page_receive_onramp_transfer_card":"Pay with card","page_receive_onramp_transfer_card_pay":"Pay","page_receive_onramp_transfer_wallet":"Transfer from wallet","page_receive_bridges-label":"You can find bridges and other useful applications here","page_receive_descktop_deposit":"Deposit","page_receive_qr_label":"Scan this QR Code with your phone","page_send_modaltitle_tx-overview":"Transaction Overview","page_send_modaltitle_failed":"Failed","page_send_modaltitle_success":"Success","page_send_modaltitle_send":"Send","page_send_allowance-loading_title":"Allowance in Progress","page_send_allowance-loading_desc":"Your transaction is being processed. Please wait a moment for the allowance to complete.","page_send_tx-loading_title":"Transaction in Progress","page_send_tx-loading_desc":"Transaction is processing. This might take a moment to complete.","page_send_failed_title":"Transaction Failed","page_send_success_title":"Transaction Complete","page_send_success_desc":"Your transaction is now completed and confirmed on the network.","page_wrongnetwork_title":"Deposit","page_wrongnetwork_title-wrongnetwork":"Wrong network!","page_wrongnetwork_desc":"To continue this quest, you need to switch the network to Linea in the top right corner","page_wrongnetwork_button_close":"Ok","page_assets_desktop_input_hidezero":"Hide zero","page_assetstable_label":"Assets Table","page_assetstable_header_token":"Token","page_assetstable_header_balance":"Balance","page_notfound_link_news":"Latest News","page_notfound_link_back":"Back to Home","page_notfound_title":"Page Not Found","page_notfound_desc":"There’s something strange in the neighborhood! We don’t know where the page you’re looking for is. Try to reload, or check the link you were following.","page_modal_customfeeblock_sponsered-fee":"0 Fee","page_modal_customfeeblock_sponsered-coveredby":"covered by Yellow","page_modal_customfeeblock_notenoughfunds":"Not enough funds","page_modal_customfeeblock_feecurrency_label":"Fee Currency","page_modal_customfeeblock_estimated_label":"Estimated Fee","page_modal_transactionallowancecontent_amountinput_placeholder":"Allowance amount","page_modal_transactionallowancecontent_button_infinity":"INF","page_modal_transactionallowancecontent_sectionbreak_actions":"Actions","page_modal_transactionallowancecontent_method":"Method","page_modal_transactionallowancecontent_allowance":"allowance","page_modal_transactionallowancecontent_allowance_limitwarning":"Allowance limit reached – unable to process transaction. Adjust your allowance to proceed.","page_modal_transactionallowancecontent_sectionbreak_approval":"Spending Approval - {symbol}","page_modal_transactionallowancecontent_button_back":"Back","page_modal_transactionallowancecontent_button_send":"Send","page_modal_txcomplete_txhash":"Transaction hash","page_modal_txcomplete_button_close":"Close","page_modal_txfailed_supportlink":"contact support for assistance","page_modal_txfailed_error_message":"Error: {error}. Please try again. If the problem persists","page_modal_txfailed_somethingwentwrong":"Something went wrong","page_modal_txfailed_button_close":"Close","page_modal_txloading_processing":"Processing","page_mobile_modal_button_back":"Back","page_onboarding_title":"Unlock your wallet to see the balances","page_questsprogressbar_title":"Quests","page_questsprogressbar_level":"LVL","page_questsprogressbar_button_view":"View","page_table_no_data":"No data to show","page_table_button_import":"Import assets","page_table_button_viewall":"View All","page_achievementlayer_achievement-unlocked":"Achievement unlocked","page_blocknumber_tooltip":"The most recent block number on this network. Balance update on every block.","page_cookies_description":"We use cookies for login, enhancement of your experience, analysis of our traffic, and for security and marketing purposes. By using our website you agree to our use of cookies. For more information about cookies, see our \n <link>Cookie Policy</link>","page_cookies_description_button_primary":"I am okay with all cookies","page_cookies_description_button_secondary":"Accept only essential cookies","page_disclaimer_title":"Review Disclaimer","page_disclaimer_modal_title":"Disclaimer","page_disclaimer_description-p1":"Participation in the waitlist is subject to regional availability. Due to legal and regulatory restrictions, certain regions are excluded from eligibility. Signing up for the waitlist does not guarantee access to a place in the whitelist. Thank you for your understanding.","page_disclaimer_description-p2":"The following list of jurisdictions are Disqualified Jurisdictions:","page_footer_title_socials":"Socials","page_footer_poweredby_title":"Powered by","page_header_accountwithvault_live":"LIVE","page_header_accountwithvault_upcoming":"UPCOMING","page_header_accountwithvault_finished":"FINISHED","page_header_accountwithvault_season":"Season {seasonId}","page_header_accountwithvault_link_continuequest":"Season {seasonId}","page_header_button_more":"More","page_settings_sociallink_button_unlink":"Unlink","page_settings_sociallink_button_link":"Link","page_settings_linkwallet_button_connect":"Connect Wallet","page_settings_linkwallet_title":"Wallet","page_settings_linkwallet_desc":"Connect and link wallets to your account.","page_settings_linksocial_title":"Linked Socials","page_settings_linksocial_desc":"Link social account to your wallet","page_settings_linksocial_label-email":"Email","page_settings_linksocial_label-google":"Google","page_settings_linksocial_label-discord":"Discord","page_settings_linksocial_label-telegram":"Telegram","page_settings_linksocial_label-twitter":"Twitter","page_settings_linkpasskeys_title":"Passkeys","page_settings_linkpasskeys_desc":"Passkeys","page_settings_linkpasskeys_button_unlinking":"Unlinking...","page_settings_linkpasskeys_button_unlink":"Unlink {name}","page_settings_linkpasskeys_button_link":"Link a passkey","page_settings_linkpasskeys_mfa_info":"You cannot unlink this passkey because it is used for Multi-Factor Authentication. To remove it, you need to disable it in your MFA settings first.","page_settings_linkpasskeys_button_mfa_enrolled":"Cannot unlink MFA passkey: {name}","page_settings_transactionmfa_title":"Transaction MFA","page_settings_transactionmfa_desc":"Add a second factor to sensitive embedded wallet actions to protect your account. Verification lasts for 15 minutes.","page_settings_transactionmfa_enabled":"Enabled","page_settings_transactionmfa_disabled":"Disabled","page_settings_transactionmfa_button-manage":"Manage MFA","page_settings_transactionmfa_button-add":"Add a MFA","page_waitlistbanner_link_join":"Join Now","page_waitlistbanner_check_title":"Gain Exclusive Access to the Yellow Network Waitlist","page_waitlistbanner_join-sale":"Secure your spot in the YELLOW Token Sale","page_waitlistbanner_public-sale":"PUBLIC\nSALE","page_waitlistbanner_sold-out":"SOLD OUT","page_waitlistbanner_goal-raised":"GOAL\nREACHED","page_requestmodal_error_title":"Failed","page_requestmodal_error_message":"Error: {message}","page_requestmodal_request_button_reject":"Reject","page_requestmodal_request_button_accept":"Accept","page_requestmodal_success_title":"Success","page_requestmodal_success_view":"View at explorer","page_requestmodal_success_signature":"Signature: <normal>{message}</normal>","page_requestmodal_waiting_title":"Review transaction","page_requestmodal_waiting_title_desc":"Do not close this window until you have completed the transaction.","page_requestmodal_waiting_tocomplete":"Waiting for the transaction to complete...","page_requestmodal_proposal_title":"{name} want to Connect","page_requestmodal_proposal_title_desc":"Do not close this window until you have completed the connection.","page_requestmodal_txbody_send_title_execute":"want to connect execute a transaction","page_requestmodal_txbody_send_title_signature":"want to connect request a signature","page_requestmodal_txbody_send_from":"From: ","page_requestmodal_txbody_send_to":"To: ","page_requestmodal_txbody_send_chain":"Chain","page_requestmodal_txbody_send_data":"Data: ","page_requestmodal_txbody_send_value":"Value: ","page_requestmodal_txbody_send_fee":"Estimated fee: ","page_requestmodal_txbody_send_gas":"Estimated gas: ","page_requestmodal_txbody_send_desc":"Transaction fee will be paid in {symbol}","page_requestmodal_txbody_sign_chain":"Chain: ","page_requestmodal_txbody_sign_header":"Review signature","page_requestmodal_txbody_sign_header_desc":"Do not close this window until you have completed the signature.","page_requestmodal_txbody_send_header":"Review transaction","page_requestmodal_txbody_send_header_desc":"Do not close this window until you have completed the transaction.","page_connectmodal_changenetwork_header":"Network Change Required","page_connectmodal_changenetwork_operates":"<semibold>{name}</semibold> operates on the <semibold>{chainName}</semibold> To ensure a smooth and secure transaction experience, your wallet needs to be on the same network.","page_connectmodal_changenetwork_button_cancel":"Cancel","page_connectmodal_changenetwork_button_change":"Change Networks","page_connectmodal_networknotsupported_title":"Oops! The network you're trying to access is not supported.","page_connectmodal_networknotsupported_reason":"<semibold>Why this happens:</semibold> The current website operates on a network that is not yet supported by our wallet. Check if the website is available on any of our supported networks.","page_connectmodal_networknotsupported_button_reconnect":"Reconnect with a Supported Network","page_connectmodal_connected_title":"The connection was successful!","page_connectmodal_connect_title":"Connect with WalletConnect","page_connectmodal_connect_desc":"Do not close this window until you have completed the connection.","page_connectmodal_connect_input_placeholder":"Enter WalletConnect URI","page_connectmodal_connect_button_connect":"Connect","page_connectmodal_connect_looking":"Looking for step-by-step instructions","page_connectmodal_connect_watch":"Watch this video.","page_connectmodal_connect_watch_notsupported":"Your browser does not support the video tag.","page_connectmodal_failed_title":"Failed to connect","page_connectmodal_failed_button_tryagain":"Try Again","page_connectmodal_proposal_yw_desc":"No need for Wallet Connect. Login directly in the Terminal using your existing wallet credentials.","page_connectmodal_proposal_yw_close":"Close","page_connectmodal_proposal_wantsconnect":"{name} wants to Connect","page_connectmodal_proposal_warning":"Do not close this window until you have completed the connection.","page_connectmodal_proposal_info":"You are attempting to connect an application that is not currently listed as supported on our platform. While you may proceed with the connection, please be aware that any use of unsupported applications is at your own risk","page_connectmodal_proposal_reject":"Reject","page_connectmodal_proposal_accept":"Accept","page_dexyfi_navigation_play":"Play","page_dexyfi_navigation_vault":"Vault","page_dexyfi_navigation_tasks":"Tasks","page_dexyfi_navigation_ranks":"Ranks","page_dexyfi_navigation_trade":"Trade","page_dexyfi_navigation_settle":"Settle","page_dexyfi_navigation_swap":"Swap","page_dexyfi_rankinfoheader_place":"Your place:","page_dexyfi_seasoninfoheader_season":"Season {seasonId}","page_dexyfi_engagementinfoheader_season":"Join Competition!","page_dexyfi_seasoninfoheader_participate":"Participate now!","page_dexyfi_button_copied":"Copied","page_dexyfi_claimstreak":"Your claiming streak","page_dexyfi_taphint_start":"Tap to Start","page_dexyfi_nfts_awaits":"your NFTs awaits!","page_dexyfi_button_join":"Join","page_dexyfi_button_check":"Check","page_dexyfi_tasks_header":"Collect Leaderboard points","page_dexyfi_tasks_link":"Tasks","page_dexyfi_topranks_title":"Top","page_dexyfi_communityrefs":"Invited: {invitedByWhitelist}","page_dexyfi_taskslist_todo":"To do","page_dexyfi_taskslist_completed":"Completed","page_ranks_friends":"Friends","page_apptitle_leaderboard":"Leaderboard","page_apptitle_quests":"Quests","page_apptitle_seasons":"Seasons","page_apptitle_win":"Win","page_apptitle_join":"Join","page_apptitle_joinVIP":"Join VIP","page_metadata_vault_desc":"Yellow Vault is optimized for cross-chain DeFi usages, you can consider this wallet like your trade margin account.","page_metadata_join_desc":"Be among the first to access our revolutionary DeFi ecosystem. Join our waitlist and secure your spot in the next wave of trading innovation","page_apptitle_ranks":"Ranks","page_apptitle_tasks":"Tasks","page_apptitle_activity":"Activity","page_apptitle_airdrop":"Airdrop","page_apptitle_applications":"Applications","page_apptitle_cookie-policy":"Cookie Policy","page_cookie-policy_metadata_description":"Yellow Vault is optimized for cross-chain DeFi usages, you can consider this wallet like your trade margin account.","page_dexyfi_layout_description":"Yellow Vault is optimized for cross-chain DeFi usages, you can consider this wallet like your trade margin account.","page_modal_transactionallowancecontent_button_max":"MAX","page_modal_feecurrencyselector_label":"Fee Currency","page_modal_marginzonesinfo_settlementwarning":"Settlement Warning","page_modal_marginzonesinfo_pnlindicator":"PNL Indicator","page_modal_marginzonesinfo_liquidationzone":"Liquidation zone","page_modal_marginzonesinfo_marginbalance":"Margin Balance","page_modal_marginzones_label":"Margin Zones","page_modal_marginzones_add":"Add","page_modal_marginzones_reduce":"Reduce","page_modal_marginzones_close":"Close","page_modal_marketselector_label":"Markets","page_modal_marketselector_header-market":"Market","page_modal_marketselector_header-price":"Last Price","page_modal_marketselector_empty":"No matching results","page_modal_networkselector_label":"Networks","page_modal_networkselector_empty":"No network to show","page_transfermodal_estimatedfee_label":"Estimated Fee","page_transfermodal_estimatedfee_notenoughfunds":"Not enough funds","page_transfermodal_feecurrency_label":"Fee Currency","page_transfermodal_feecurrency_sponsoredby":"Sponsored by","page_transfermodal_transferaccount_label":"Transfer","page_transfermodal_transferaccount_asset":"Asset","page_transfermodal_transferaccount_sourceaccount":"Source Account","page_transfermodal_transferaccount_sourceaccount_yellow":"Yellow Vault","page_transfermodal_transferaccount_destinationaccount":"Destination Account","page_transfermodal_transferaccount_destination_margin":"Margin","page_transfermodal_transferform_excecuting":"Executing","page_transfermodal_transferform_success":"Success","page_transfermodal_transferform_tx-hash":"Tx hash:","page_transfermodal_transferform_failed":"Failed","page_transfermodal_transferform_error":"Error","page_transfermodal_transferform_somethingwentwrong":"Something went wrong while depositing your assets","page_transfermodal_transferform_amount":"Amount","page_transfermodal_transferform_max":"MAX","page_transfermodal_transferform_available":"Available","page_transfermodal_transferform_button_transfer":"Transfer","page_orderform_deposit_tabs_practice":"Practice Assets","page_orderform_deposit_tabs_real":"Real Assets","page_settlementbalanceinfo_balance":"Balance","page_settlementbalanceinfo_equity":"Equity","page_settlementbalanceinfo_margin":"Margin","page_settlementbalanceinfo_marginlevel":"Margin Level","page_settlementbalanceinfo_marginlevel-percentage":"Margin Level (%)","page_settlement_modal_presettlement":"Pre-Settlement Check","page_settlement_modal_presettlement_network":"Network","page_settlement_modal_presettlement_insufficient":"Insufficient funds","page_settlement_modal_presettlement_noasset":"No asset in current network","page_settlement_modal_presettlement_button_deposit":"Deposit","page_settlement_modal_presettlement_willnotsend":"You will not send any tokens","page_settlement_modal_presettlement_willnotreceive":"You will not receive any tokens","page_settlement_modal_presettlement_yousend":"You must send","page_settlement_modal_presettlement_youreceive":"You will receive","page_settlement_modal_presettlement_button_continue":"Continue","page_settlement_modal_label":"Settlement","page_settlement_modal_button_processing":"Processing","page_settlement_modal_failed_transaction":"Transaction Failed","page_settlement_modal_failed_errorr":"Error:","page_settlement_modal_failed_tryagain":"Please try again. If the problem persists, <a>contact support for assistance.</a>","page_settlement_modal_loading_inprogress":"Transaction in Progress","page_settlement_modal_loading_desc":"Transaction is processing. This might take a moment to complete.","page_settlement_modal_success_title":"Transaction Complete","page_settlement_modal_success_desc":"Your transaction is now completed and confirmed on the network.","page_settlement_modal_success_details":"Details","page_settlement_modal_success_txhash":"Transaction hash","page_settlement_modal_success_button_close":"Close","page_settlement_requestsettlement_button":"Request on-chain Settlement","page_settlement_positions_label":"Positions","page_settlement_positionstable_header_asset":"Asset","page_settlement_positionstable_header_amount":"Amount","page_settlement_positionstable_header_pnl":"PnL","page_settlement_positionstable_header_position":"Position","page_settlement_positionstable_status_pending":"Pending","page_settlement_positionstable_status_open":"Open","page_settlement_positionstable_status_closed":"Closed","page_positionsheader_label":"Your Positions","page_positionsheader_link_history":"Trade History","page_positionsheader_margin":"Margin:","page_positions_empty_label":"Positions","page_positions_empty_desc":"Deposit margin and create trades to open positions","page_positions_table_button_close":"Close","page_tradehistory_header_label":"Trade History","page_tradehistory_listitem_amount":"Amount","page_tradehistory_listitem_price":"Price","page_tradehistory_listitem_funds":"Funds","page_tradehistory_listitem_feeamount":"Fee Amount","page_tradehistory_norecords":"No records","page_tradehistory_header_pair":"Pair","page_orderform_label_instantexcecution":"Instant Execution","page_orderform_label_network":"Network","page_orderform_label_markets":"Markets","page_orderform_label_amount":"Amount","page_orderform_button_buy":"Buy (Long)","page_orderform_button_sell":"Sell (Short)","page_orderform_button_deposit":"Deposit Margin","page_swap_header_info":"Swap $DAPS to $LBP Points!","page_swap_header_desc":"Boost your rank in Season 4 with every swap.","page_swap_button_swap":"Swap","page_dexyfi_swap_alert_success_text":"Your points have been converted successfully","page_dexyfi_swap_alert_success_type":"Convertion Successfull","page_dexyfi_swap_alert_error_text":"Something went wrong while converting your points","page_dexyfi_swap_alert_error_type":"Convertion Failed","page_swap_completed_header_title":"Swap Confirmed","page_swap_completed_header_desc":"Congratulations! Your points have been updated.","page_userinfocard_title":"Wallet","page_userinfocard_label_totalbalance":"Total Balance","page_userinfocard_button_receive":"Receive","page_userinfocard_button_send":"Send","page_userinfocard_button_swap":"Swap","page_userinfocard_button_top-up":"Top Up","page_userinfocard_link_seeall":"See all","page_userinfocard_button_logout":"Log Out","page_learn_title_learn":"Learn","page_learn_meta_description":"Discover how crypto and finance work with clear articles, practical tutorials, detailed how-tos and guides covering cryptocurrencies, trading strategies, wallet management, investing essentials, and personal finance fundamentals.","page_learn_header_title":"Learn","page_learn_header_description":"Discover how crypto and finance work with clear articles, practical tutorials, detailed how-tos and guides covering cryptocurrencies, trading strategies, wallet management, investing essentials, and personal finance fundamentals.","page_learn_item_posted_today":"Posted Today","page_learn_item_posted_days_ago":"Posted {days} day(s) ago","page_sidebar_navigation_learn":"Learn","page_learn_view_showAllLearn":"Show All Learn Articles","page_learn_view_latest":"Latest Learn Articles","page_learn_view_related":"Related Learn Articles","page_research_title_research":"Research","page_research_meta_description":"Dive into deep research articles providing comprehensive analysis of blockchain ecosystems, token evaluations, market dynamics, and insights into the latest developments shaping global markets and personal finance trends.","page_research_header_title":"Research","page_research_header_description":"Dive into deep research articles providing comprehensive analysis of blockchain ecosystems, token evaluations, market dynamics, and insights into the latest developments shaping global markets and personal finance trends.","page_research_item_posted_today":"Posted Today","page_research_item_posted_days_ago":"Posted {days} day(s) ago","page_sidebar_navigation_research":"Research","page_research_view_showAllResearch":"Show All Research Articles","page_research_view_latest":"Latest Research Articles","page_research_view_related":"Related Research Articles","page_time_justNow":"Just now","page_time_minuteAgo":"1 minute ago","page_time_minutesAgo":"{count} minutes ago","page_time_hourAgo":"1 hour ago","page_time_hoursAgo":"{count} hours ago","page_preferredlanguage_modal_title":"Switch Language","page_preferredlanguage_modal_detected":"Do you want to switch to the <b>{candidate}</b> version of our website?","page_preferredlanguage_modal_description":"You can always change the language from the <b>settings</b> page.","page_preferredlanguage_modal_button_stay":"Stay in English","page_preferredlanguage_modal_candidate_en":"English","page_preferredlanguage_modal_candidate_de":"German","page_preferredlanguage_modal_candidate_es":"Spanish","page_preferredlanguage_modal_candidate_fr":"French","page_preferredlanguage_modal_candidate_id":"Indonesian","page_preferredlanguage_modal_candidate_ja":"Japanese","page_preferredlanguage_modal_candidate_ko":"Korean","page_preferredlanguage_modal_candidate_pl":"Polish","page_preferredlanguage_modal_candidate_pt":"Portuguese","page_preferredlanguage_modal_candidate_pt-BR":"Portuguese (Brazil)","page_preferredlanguage_modal_candidate_ru":"Russian","page_preferredlanguage_modal_candidate_th":"Thai","page_preferredlanguage_modal_candidate_tr":"Turkish","page_preferredlanguage_modal_candidate_vi":"Vietnamese","page_preferredlanguage_modal_candidate_zh":"Chinese","page_preferredlanguage_modal_candidate_ar":"Arabic","page_preferredlanguage_modal_candidate_it":"Italian","page_preferredlanguage_modal_candidate_nl":"Dutch","page_preferredlanguage_modal_candidate_uk":"Ukrainian","page_contact-us_app-title":"Contact Us","page_contact-us_meta-description":"Get in touch with Yellow. Use our easy-to-use contact form to ask questions, share feedback, or explore partnership opportunities. We respond promptly to help you connect.","page_contact-us_header-title":"Contact Us","page_contact-us_form_email_label":"Your email address","page_contact-us_form_name_label":"Your name","page_contact-us_form_name_placeholder":"Enter your name","page_contact-us_form_email_placeholder":"Enter your email address","page_contact-us_form_subject_label":"Subject","page_contact-us_form_description_placeholder":"Description","page_contact-us_form_attachments_label":"Attachments <light>(optional)</light>","page_contact-us_form_button_add-file":"Add file","page_contact-us_form_button_submit":"Submit","page_contact-us_form_subject_option_sponsored_publication":"Sponsored Publication","page_contact-us_form_subject_option_partnership":"Partnership","page_contact-us_form_subject_option_investment_request":"Investment Request","page_contact-us_form_subject_option_market_making":"Market Making","page_contact-us_form_subject_option_token_listing":"Token Listing","page_contact-us_form_subject_option_corrections":"Corrections","page_contact-us_form_subject_option_media_press":"Media & Press","page_contact-us_form_subject_option_job_request":"Job Request","page_contact-us_form_subject_option_bug_report":"Bug Report","page_contact-us_form_subject_option_others":"Others","page_contact-us_form_error_email_required":"Email is required.","page_contact-us_form_error_email_invalid":"Please enter a valid email address.","page_contact-us_form_error_description_required":"Description is required.","page_contact-us_form_error_name_required":"Name is required.","page_contact-us_form_error_attachment_type_title":"Invalid File Type","page_contact-us_form_error_attachment_type_message":"The file {file} is not allowed. Please upload only files of type PDF, DOC, DOCX, PNG, JPEG, JPG, TXT, or RTF.","page_contact-us_form_error_attachment_size_title":"Attachment Size Limit Exceeded","page_contact-us_form_error_attachment_size_message":"The file {file} cannot be uploaded because the total attachments would exceed the limit of {maxSize} MB.","page_contact-us_form_error_submit_title":"Submission Error","page_contact-us_form_error_submit_message":"An error occurred while submitting your contact request. Please try again later.","page_contact-us_form_success_submit_title":"Submission Successful","page_contact-us_form_success_submit_message":"Your contact request has been sent successfully. We will get back to you shortly.","page_contact-us_form_agree_terms":"By submitting this form, you agree to our <privacy>Privacy Policy</privacy> and <terms>Terms of Service</terms>.","page_contact-us_form_supported-attachment-types":"Supported file types: {types}  (Max total size: {size})","page_article-content_tab-news":"News","page_article-content_tab-learn":"Learn","page_article-content_tab-research":"Research","page_article-content_button_read-more":"Read More","page_article_disclaimer":"<b>Disclaimer:</b> The information provided in this article is for educational purposes only and should not be considered financial or legal advice. Always conduct your own research or consult a professional when dealing with cryptocurrency assets.","page_newsletter-subscribe_title":"<bolder>Always</bolder> stay updated","page_newsletter-subscribe_desc":"Subscribe to our newsletter for up tp date news, trends, and tips.","page_newsletter-subscribe_aggreement":"I have read the <Link>Privacy Policy</Link> and I understand that I can unsubscribe anytime.","page_newsletter-subscribe_button":"Subscribe to Newsletter","page_newsletter-subscribe_login-button":"Login","page_newsletter-subscribe_link-email-button":"Link Email","page_fusion_swap_title":"Swap","page_fusion_swap_description":"Swap tokens seamlessly across multiple networks with real-time rates.","page_fusion_swap_youpay":"You pay","page_fusion_swap_balance":"Balance: {balance}","page_fusion_swap_button_on_network":"on {network}","page_fusion_swap_youreceive":"You receive","page_fusion_swap_select-token":"Select Token","page_fusion_swap_button_swap":"Swap","page_fusion_swap_overlay_select-token":"Select Token","page_fusion_swap_input_search":"Search token name","page_fusion_swap_estimate_networkfee":"Network fee: {fee} {symbol}","page_fusion_swap_insufficient_network_balance":"Insufficient {network} balance","page_fusion_swap_orderplacement_info":"Once a Swap order has been placed, it <b>cannot be canceled</b>, even if it is not yet completed.","page_fusion_swap_all-networks":"All networks","page_fusion_swap_all-networks_network-count":"{count} Networks","page_fusion_swap_quote_slippage":"Slippage tolerance","page_fusion_swap_quote_slippage_value":"Auto {value} %","page_fusion_swap_quote_minimum_receive":"Minimum receive","page_fusion_swap_quote_network_fee_label":"Network fee","page_fusion_swap_quote_zero-network-fee":"Zero network fee (Cross-Chain)","page_fusion_swap_quote_zero-slippage":"No slippage (Cross-Chain)","page_fusion_swap_quote_no-network-fee":"No network fee (Cross-Chain)","page_fusion_swap_form_error_no-from-balance":"Insufficient {asset} balance","page_fusion_swap_form_error_cannot-fetch-prices":"Unable to retrieve price for <b>{asset}</b> on <b>{chain}</b>. Please try again later.","page_fusion_swap_form_error_invalid-amount":"Amount exceeds limits or is too small. Please adjust.","page_fusion_swap_form_error_small-amount":"Amount is below the minimum allowed. Please increase the value and try again.","page_fusion_swap_form_error_high-amount":"Amount is above the permitted limit. Please adjust to a lower value.","page_fusion_swap_form_error_transfer-fee-tokens":"Tokens that charge a fee on transfers are unsupported.","page_fusion_swap_form_error_token-not-supported":"Swap for {token} on {chain} is not supported for cross-chain swaps. Please choose a different token.","page_fusion_swap_form_error_zero-address-token":"Swaps with a zero-address token are not allowed. Use the native currency instead.","page_fusion_swap_form_error-natie-currency-swap":"Cannot swap native currency. Please wrap it into its wrapped version first.","page_fusion_swap_form_error-quote-unknown":"Failed to estimate the transaction. Please try increase swap amount or retry later.","page_fusion_swap_token":"Token","page_fusion_swap_token_balance":"Balance","page_fusion_swap_token_balance_max":"Max","page_fusion_swap_network_from":"From","page_fusion_swap_network_to":"To","page_fusion_swap_add_destination_address":"Add destination wallet address","page_fusion_swap_estimated_from":"Est. value: ${value}","page_fusion_swap_select-network":"Select Network","page_fusion_swap_on_network":"on {network}","page_fusion_swap_token_hide_zero_balance":"Hide zero balance","page_fusion_swap_token_network":"Network","page_fusion_swap_token_network_all":"All","page_fusion_swap_input_search_network":"Search network name","page_fusion_swap_confirm_modal_title":"Confirm Swap","page_fusion_swap_loader_modal_title":"Confirm Swap","page_fusion_swap_confirm_modal_button":"Confirm Swap","page_fusion_swap_confirm_modal_price":"Price","page_fusion_swap_confirm_modal_slipage-tolerance":"Slippage tolerance","page_fusion_swap_confirm_modal_minimum-receive":"Minimum receive","page_fusion_swap_confirm_modal_network-fee":"Network fee","page_fusion_swap_confirm_modal_from_wallet":"From wallet","page_fusion_swap_confirm_modal_to_wallet":"Destination wallet","page_fusion_swap_modal_inprogress":"Swap in progress","page_fusion_swap_modal_inprogress_desc":"Swapping is processing. This might take a moment to complete. Please do not close this modal window or refresh the page, as doing so may cancel or cause the transaction to fail.","page_fusion_swap_modal_inprogress_button":"Processing","page_fusion_swap_modal_complete":"Swapping complete","page_fusion_swap_modal_complete_desc":"Swap completed successfully! Your items have been exchanged.","page_fusion_swap_modal_complete_button":"Close","page_fusion_swap_modal_failed":"Swap failed","page_fusion_swap_modal_failed_desc":"Error: Swap failed due to a network issue. Please try again. If the problem persists, <link>contact support for assistance.</link>","page_fusion_swap_modal_failed_button":"Close","page_fusion_swap_tabs_wallet":"Wallet","page_fusion_swap_tabs_receive":"Receive","page_fusion_swap_tabs_send":"Send","page_fusion_swap_tabs_swap":"Swap","page_fusion_swap_tabs_top-up":"Top Up","page_fusion_swap_tabs_activity":"Activity","page_fusion_swap_network_not_supported":"{network} network is unavailable for swapping","page_fusion_swap_network_not_supported_desc":"The selected network doesn't support swapping. Please select one from the list below to proceed.","page_fusion_swap_network_not_supported_switch_network":"Switch network","page_fusion_swap_zero_state":"Log in to unlock swap and activity","page_fusion_swap_mobile_toolbar_title":"Swap","page_fusion_swap_mobile_modal_title":"Swap","page_fusion_swap_token_selcetornetwork_label":"Network:","page_fusion_swap_form_button_approve":"Approve","page_fusion_swap_form_approve_warning":"Before completing your swap, you must authorize spending of your <b>{assetName}.</b> This approval will incur a fee of about <b>{amount}</b> <b>{nativeAssetName}.</b>","page_fusion_swap_modal_confirm_allowance_title":"Confirm Token Approval","page_fusion_swap_modal_loading_allowance_title":"Token Approval","page_fusion_swap_modal_confirm_allowance_button":"Confirm Approval","page_fusion_swap_modal_allowance_inprogress":"Approval in progress","page_fusion_swap_modal_allowance_inprogress_desc":"We're processing your approval. Please wait a moment.","page_fusion_swap_modal_allowance_failed":"Approval failed","page_fusion_swap_modal_failed_approval_desc":"Error: Approval failed due to a network issue. Please try again. If the problem persists, <link>contact support for assistance.</link>","page_fusion_swap_modal_completed_desc":"Swap successful! Your transaction is processing. Please keep this window open until confirmation, as closing it prematurely may cause the swap to fail. Check the Activity tab to track your order status.","page_fusion_swap_modal_completed_approval":"Approval Completed","page_fusion_swap_modal_completed_approval_desc":"Your approval has been successfully completed. You can now proceed with the swap.","page_fusion_swap_modal_complete_details":"Details","page_fusion_swap_modal_complete_transaction":"Order hash","page_fusion_activity_from_token_to":"{fromSymbol} to {toSymbol}","page_fusion_activity_no_data":"You don’t have any activity yet. Swap some tokens to see it here.","page_fusion_activity_choose-scope":"Choose activity scope","page_fusion_activity_choose-scope_same-chain":"Same-chain","page_fusion_activity_choose-scope_cross-chain":"Cross-chain","page_fusion_activity_mobile_toolbar_title":"Activity","page_fusion_activity_mobile_modal_title":"Activity","page_fusion_activity_unknown-token":"Unknown Token","page_fusion_activity_unknown-amount":"Unknown amount","page_fusion_activity_date_today":"Today","page_fusion_activity_date_yesterday":"Yesterday","page_fusion_activity_details_modal_token-details-missing-both":"Tokens details not found. Import the following tokens on {chain} to view full information.","page_fusion_activity_details_modal_token-details-missing-bothDifferent":"Token details not found. Import the send token on {makerChain} and the receive token on chain {takerChain} to view full information.","page_fusion_activity_details_modal_token-details-missing-maker":"Send token details not found. Import the following token on {chain} to view full information.","page_fusion_activity_details_modal_token-details-missing-taker":"Received token details not found. Import the following token on {chain} to view full information.","page_fusion_activity_details_modal_token-details-missing-label-received":"Received","page_fusion_activity_details_modal_token-details-missing-label-send":"Send","page_fusion_activity_details_modal_title":"Transaction details","page_fusion_activity_details_modal_transaction-type":"Swap","page_fusion_activity_details_modal_transaction_from-to":"{fromAmount} {fromSymbol} to {toAmount} {toSymbol}","page_fusion_activity_details_modal_status-processing":"Processing","page_fusion_activity_details_modal_status-cancelled":"Cancelled","page_fusion_activity_details_modal_status-completed":"Completed","page_fusion_activity_details_modal_status-failed":"Failed","page_fusion_activity_details_modal_token-sent-name":"Token sent","page_fusion_activity_details_modal_token-sent-amount":"Amount sent","page_fusion_activity_details_modal_status":"Status","page_fusion_activity_details_modal_date":"Date & time","page_fusion_activity_details_modal_tx-time":"Transaction time","page_fusion_activity_details_modal_completed-in":"Completed in {time}","page_fusion_activity_details_modal_tx-time-hour":"hour(s)","page_fusion_activity_details_modal_tx-time-minute":"minutes(s)","page_fusion_activity_details_modal_tx-time-second":"second(s)","page_fusion_activity_details_modal_tx-id":"Transaction ID","page_fusion_activity_details_modal_tx-hash":"Transaction hash","page_fusion_activity_details_modal_sender-addr":"Sender address (your wallet)","page_fusion_activity_details_modal_receiver-addr":"Destination address","page_fusion_activity_details_modal_close":"Close","page_fusion_activity_details_modal_network":"Network","page_fusion_activity_details_modal_escrow_event_src-created":"Source Escrow Created","page_fusion_activity_details_modal_escrow_event_dst-created":"Destination Escrow Created","page_fusion_activity_details_modal_escrow_event_send":"Tokens Sent","page_fusion_activity_details_modal_escrow_event_receive":"Tokens Received","page_fusion_activity_details_modal_escrow_event_src-cancelled":"Source Escrow Cancelled","page_fusion_activity_details_modal_escrow_event_dst-cancelled":"Destination Escrow Cancelled","page_fusion_activity_empty_title":"No transaction found","page_fusion_activity_empty_description":"Your transaction history is currently empty. Once you swap assets, your transactions will appear here.","page_fusion_top-up_mobile_toolbar_title":"Top Up","page_fusion_swap_restricted_modal_title":"Access Restricted","page_fusion_swap_restricted_modal_disabled-text":"We're sorry, but our service isn't available in your region due to regulatory restrictions. Swap functionality has been disabled.","page_fusion_swap_restricted_modal_disabled-contact-support":"If you believe this is an error or require further assistance, please <a> contact our support team.</a>","page_fusion_swap_restricted_form-error":"Swap not available in your region.","page_fiatonramp_modal_title":"Top up your account","page_fiatonramp_modal_provider":"Provider","page_fiatonramp_modal_select_asset":"Select Asset","page_fiatonramp_modal_input_amount_label":"Amount","page_fiatonramp_modal_button-cancel":"Cancel","page_fiatonramp_modal_button-confirm":"Confirm","page_fiatonramp_restricted_modal_title":"Account Top-Up Unavailable","page_fiatonramp_restricted_modal_disabled-text":"We're sorry, but fiat top-ups (card or bank) aren't available in your region due to regulatory restrictions.","page_fiatonramp_restricted_modal_disabled-contact-support":"You can still deposit cryptocurrencies directly to your account. If you have any questions, please <a> contact our support team.</a>","page_fiatonramp_network_not_supported":"{network} network is unavailable for top up","page_fiatonramp_network_not_supported_desc":"The selected network doesn't support top up. Please select one from the list below to proceed.","page_fiatonramp_network_not_supported_switch_network":"Switch network","page_fiatonramp_network_not_supported_modal_title":"Account Top-Up Unavailable","page_competition_header_title":"Connect and Win!","page_competition_header_description":"Enter Yellow's \"Connect & Win\" competition for a chance to win a share of the $20,000 prize pool! Take home $8,000 for 1st place, $5,000 for 2nd, $3,000 for 3rd, or one of 27 bonus prizes of $150 each. Every action you take earns you entry tickets — connect your wallet, link your social media accounts, spin the daily wheel, and refer friends.\n\nThe more tickets you collect, the better your odds are of winning!","page_competition_header_competition_end":"Competition ended on {time}","page_competition_header_button_rules":"Rules & Terms of Service","page_competition_timer_title_days":"Days","page_competition_timer_title_hours":"Hours","page_competition_timer_title_minutes":"Minutes","page_competition_timer_title_seconds":"Seconds","page_competition_daily_points_competition":"Collect daily free tickets","page_competition_daily_points_zerostate":"Login to unlock Daily Claim","page_competition_daily_points_button":"Claim Tickets","page_competition_referral_copy_text":"Copy invite link","page_competition_referral_copied":"Copied","page_competition_referral_reflink_title":"Ref link","page_competition_referral_desc":"Get 15% entries from your friends total tickets","page_competition_referral_friend":"Friend","page_competition_referral_friends":"Friends","page_competition_referral_title":"Invite friends to get more tickets","page_competition_referral_zerostate":"Login to get your referral link","page_competition_quests_title":"Earn tickets with quests ","page_competition_quest_list_item_completed":"Completed","page_competition_quest_link_email":"Link Email","page_competition_quest_link_twitter":"Link Twitter","page_competition_quest_link_wallet":"Link Wallet","page_competition_quest_link_discord":"Link Discord","page_competition_quest_link_telegram":"Link Telegram","page_competition_quest_join":"Join","page_competition_quest_verify":"Verify","page_competition_quest_linked":"Linked","page_competition_quest_zerostate_title":"Competition Quests","page_competition_quest_zerostate_connect":"Log in to unlock quests","page_competition_quest_link_google":"Link Google","page_competition_quest_label_email":"Email address","page_competition_quest_label_telegram":"Link Telegram","page_competition_quest_label_google":"Google","page_competition_quest_label_discord":"Discord","page_competition_quest_label_twitter":"Twitter","page_competition_quest_label_telegram_join":"Join Telegram","page_competition_quest_link":"Link","page_competition_leaderboard_title":"Leaderboard","page_competition_leaderboard_title-completed":"Congratulations to our Winners!","page_competition_leaderboard_desc":"Complete tasks, earn tickets, and climb your way up the leaderboard! Scores refresh every 10 minutes, so please allow a moment for your latest entries to appear. Top spot is waiting for you.","page_competition_leaderboard_desc-completed":"Winners will be contacted directly by the Yellow Network team via the social account and/or wallet address connected during registration. Make sure your connections are valid and accessible. Official announcements will also be made on our Telegram and Twitter channels.","page_competition_leaderboard_total_tickets":"Total Tickets","page_competition_leaderboard_prize_pool":"Prize Pool","page_competition_leaderboard_winners":"Winners","page_competition_leaderboard_rank":"Rank","page_competition_leaderboard_table_header-rank":"Rank","page_competition_leaderboard_table_header-user":"User","page_competition_leaderboard_table_header-ticket":"Tickets","page_competition_leaderboard_table_header-prize":"Prize","page_competition_leaderboard_table_userindicator-text":"(You)","page_competition_leaderboard_table_zerostate-title":"Log in to take your place in the leaderboard and earn rewards","page_competition_leaderboard_search_placeholder":"Search for wallet address","page_competition_leaderboard_search_button":"Search","page_competition_leaderboard_no_results":"No winners found with this wallet address","page_competition_leaderboard_no_results_desc":"Don't worry! Try participating in our next competition for a chance to win exciting prizes.","page_competition_leaderboard_table_zerostate-in-progress":"We’re finalizing the winners now—check back here shortly to see who takes home the prizes!","page_competition_leaderboard_winner-searchresult_header":"Congratulations, you won!","page_competition_leaderboard_winner-searchresult_desc":"All rewards will be distributed in USDT on the BNB Chain. Prizes will be transferred directly to your connected Yellow Wallet, so ensure it's properly set up and remains connected throughout the competition.","page_competition_leaderboard_winner-searchresult_prize":"Prize","page_competition_leaderboard_winner-searchresult_rank":"Rank","page_competition_leaderboard_winner-searchresult_tickets":"Collected Tickets","page_competition_faq_modal_title":"Competition Rules","page_competition_faq_modal_button-close":"Close","page_competition_faq_title":"Yellow: Frequently Asked Questions","page_competition_faq_item_1_title":"When does the competition start and end?","page_competition_faq_item_1_answer":"The competition starts on Wednesday, the 7th of May 2025 and ends on Wednesday, the 21st of May 2025 at 12pm UTC.","page_competition_faq_item_2_title":"How do I join the competition?","page_competition_faq_item_2_answer":"Visit the Yellow.com login with your existing Yellow account or sign up for a new one, click on the “Win” tab and complete all the tasks to get maximum ticket entries into the competition.","page_competition_faq_item_3_title":"What kind of tasks do I need to do?","page_competition_faq_item_3_answer":"Tasks include linking your MetaMask Wallet and Social Media Accounts, logging in daily and spinning the wheel and referring friends. Each completed action earns you ticket entries into the draw.","page_competition_faq_item_4_title":"What’s at stake?","page_competition_faq_item_4_answer":"The top 30 users will win a total of $20,000 USDT:\n- 🥇 1st Place: $8,000\n- 🥈 2nd Place: $5,000\n- 🥉 3rd Place: $3,000\n- 🎁 27 Bonus Prizes: $150 each.","page_competition_faq_item_5_title":"How does the leaderboard work?","page_competition_faq_item_5_answer":"Each completed action adds more ticket entries to your account. The leaderboard displays the users with the highest number of ticket entries earned through completed actions. Being at the top doesn’t guarantee a win—but it does mean you have more entries, and therefore a greater chance of winning. The more tickets you have in the draw, the better your odds.","page_competition_faq_item_6_title":"Can I win more than one prize?","page_competition_faq_item_6_answer":"No. To keep things fair and spread the rewards, each participant can only win one prize. Once a participant is drawn for a prize, all their remaining tickets are removed from the draw pool.","page_competition_faq_item_7_title":"Can anyone join?","page_competition_faq_item_7_answer":"Yes, as long as you have a Yellow Wallet and Yellow Account and follow the rules. Multiple or fake accounts are strictly monitored and may be disqualified.","page_competition_faq_item_8_title":"How is the winner selected?","page_competition_faq_item_8_answer":"Each ticket entry you earn acts as a chance to win, the more tickets you have, the higher your chances are of winning.\n\nAll eligible ticket entries are placed into a prize draw pool, where winners are selected one by one through a random draw. \n\nIf a drawn entry belongs to someone who hasn’t yet won, they receive a prize; if the person has already won, the entry is skipped. This process continues until all 30 prizes are awarded to 30 unique winners.","page_competition_faq_item_9_title":"Is my data safe?","page_competition_faq_item_9_answer":"Yes. Wallet and social connections are used to verify entries and ensure fairness. All data is handled in compliance with privacy and Web3 standards.","page_competition_faq_item_10_title":"What happens after the contest?","page_competition_faq_item_10_answer":"Top users will be contacted for prize distribution and displayed on our website and socials.","page_competition_faq_item_11_title":"How will I know if I’ve won?","page_competition_faq_item_11_answer":"Winners will be contacted directly by the Yellow Network team via their social media account and/or by email. Make sure your connections are valid and accessible. Official announcements will also be made on our Website, Telegram and Twitter channels.","page_competition_faq_item_12_title":"How will the prize be paid?","page_competition_faq_item_12_answer":"All prizes will be distributed in USDT on the BNB Chain and will be transferred directly to your connected Yellow Wallet, so please ensure it's properly set up and remains connected throughout the competition.\n\nThe top 3 winners must pass KYC (identification).","page_competition_faq_item_13_title":"Which countries are restricted from entering competition?","page_competition_faq_item_13_answer":"Afghanistan, Balkans, Belarus, Burma, Burma (Myanmar), Central African Republic, China, Congo, Cote d'Ivoire (Ivory Coast), Cuba, Cyprus, Eritrea, Ethiopia, Haiti, Hong Kong, Iran, Iraq, Lebanon, Liberia, Libya, North Korea, Regions of Ukraine:   Crimea, Donetsk region, Luhansk region, Russia, Somalia, South Sudan, Sri Lanka, Sudan, Syria, Venezuela, Vietnam, Yemen, Zimbabwe","page_competition_faq_item_14_title":"How to Unlink Your Socials from the Wrong Profile","page_competition_faq_item_14_answer":"If your Discord/Telegram or Twitter account  is connected to the wrong profile and you're unable to link it to your main account, follow these steps:\n\n- First, log out from your current Yellow session.\n- On the login screen, choose “Login with Discord/Telegram/Twitter”\n- This will log you into the profile where Discord is currently linked\n- Unlink Discord/Twitter/Telegram\n- Go to Settings > Linked Accounts.\n- Find Discord/telegram/Twitter and click Unlink\n- Log Out Again\n- Log Into Your Main Account\n- Use your email or preferred method to log into your main profile.\n\nGo to Settings > Linked Accounts and now link your Discord/Twitter/Telegram — it should work without errors.","page_competition_faq_agree_terms":"By entering the competition, you confirm that you have read, understood, and agree to abide by these Terms.","page_competition_faq_disclaimer":"$18","page_competition_rules_item_1_title":"Eligibility","page_competition_rules_item_1_answer":"- You must be <b>18 years or older</b> and legally eligible in your country of residence.\n- Employees, contractors, or affiliates of Yellow Network may <b>not</b> participate.\n- You must have a Yellow Wallet and at least <b>one social media account</b> (Twitter, Email, Telegram, or Discord) to enter.\n- The competition is open to users globally, except where prohibited by local laws.","page_competition_rules_item_2_title":"Participation Rules","page_competition_rules_item_2_answer":"- Each action (e.g., wallet connection, social link, referral, daily login) earns <b>ticket entries</b> into the prize pool.\n- <b>More ticket entries mean higher chances</b> of winning but do not guarantee a prize.\n- You may only use one <b>Yellow Account and one set of social accounts</b> per participant.\n- Duplicate, bot, or fraudulent accounts will be <b>disqualified</b> and may be banned from future events.","page_competition_rules_item_3_title":"Leaderboard & Winning","page_competition_rules_item_3_answer":"- The leaderboard reflects the <b>number of ticket entries</b> earned through actions.\n- <b>Top positions increase your chance</b> of winning but do not guarantee a prize.\n- Winners are selected via a <b>random draw</b>, weighted by the number of ticket entries.","page_competition_rules_item_4_title":"Prize Details","page_competition_rules_item_4_answer":"- The total prize pool is <b>20,000 USDT</b>.\n   - 1st Place: $8,000\n   - 2nd Place: $5,000\n   - 3rd Place: $3,000\n   - 27 Prizes of $150 each\n- Prizes will be distributed in <b>USDT on the BNB Chain</b> to your <b>connected Yellow Wallet</b>.\n- It is your responsibility to ensure your wallet is <b>accessible and compatible</b> with BNB Chain and Yellow services.","page_competition_rules_item_5_title":"Winner Selection","page_competition_rules_item_5_answer":"- Winners are selected through a <b>random draw</b>, weighted by the number of ticket entries.\n- The leaderboard reflects ticket volume and helps participants <b>track their standing</b>, but it does not guarantee winnings.\n- Winners will be contacted via their <b>connected social accounts</b> and must respond within <b>7 days</b> to claim prizes.\n- Make sure your Yellow Wallet is <b>active and accessible</b> during and after the contest.","page_competition_rules_item_6_title":"Privacy & Data","page_competition_rules_item_6_answer":"By participating, you consent to the collection of wallet metadata and connected social data necessary for participation and prize distribution.","page_competition_rules_item_7_title":"Disqualification & Disputes","page_competition_rules_item_7_answer":"- Yellow Network reserves the right to:\n   - Disqualify any participant found to be abusing the system.\n   - Withhold or reclaim prizes in cases of fraud.\n   - Modify, suspend, or cancel the Competition at its sole discretion.\n- All disputes will be handled internally by the Yellow Network team and decisions are <b>final</b>.","page_competition_rules_item_8_title":"Liability","page_competition_rules_item_8_answer":"- Yellow Network is <b>not responsible</b> for technical failures, wallet issues, or delays in prize transfers caused by blockchain congestion or third-party services.\n- Participation is at your own risk. Yellow Network shall not be liable for any losses or damages arising out of or in connection with your participation in the Competition.","page_competition_rules_item_9_title":"Governing Law","page_competition_rules_item_9_answer":"- These Terms shall be governed by the laws of the British Virgin Islands.\n- Any legal actions or disputes must be brought in the appropriate courts of that jurisdiction.","page_settings_competition_socials":"Link Socials & Win!","page_settings_competition_wallet":"Link Wallet & Win!","page_join-backstage_apptitle":"Join Backstage","page_join-backstage_desc":"Unlock 20% Off a Backstage Exclusive Event!","page_join-backstage_title-text":"Unlock 20% Off a Backstage Event – Just by Following Us!","page_join-backstage_description-text":"Get exclusive access to Backstage’s hottest events, with 20% off just for joining the revolution with Yellow. No crypto experience required – just good vibes and great music.\n\n<b>How to Claim Your Discount</b>\n\n<b>1. Follow</b> <ylink>@yellow</ylink> on Twitter\n<b>2. Follow</b> <blink>@backstage</blink> on Twitter\n\nThat’s it! We’ll email you the discount and claim link to confirm  you’re verified. 🎉","page_join-backstage_progresstracker_linkemail-text":"Link Your Email to Join the Backstage Campaign","page_join-backstage_button_link_email":"Link Email to Join Event","page_join-join-backstage_button_register":"Register Now","page_join_backstage_button_claim":"Claim Your Discount","page_join_daily_spinner_modal_title":"Spin daily for more competition entries!","page_join_daily_spinner_section_bust":"BUST","page_join_daily_spinner_section_1ticket":"1 Ticket","page_join_daily_spinner_section_2tickets":"2 Tickets","page_join_daily_spinner_section_3tickets":"3 Tickets","page_join_daily_spinner_section_5tickets":"5 Tickets","page_join_daily_spinner_modal_button-spin":"Spin!","page_join_daily_spinner_modal_button-cancel":"Cancel","page_join_daily_spinner_modal_button-close":"Close","page_join_daily_spinner_result_win":"🎉 Congratulations! You won <b>{amount} {amount, plural, one{ticket} other{tickets}}</b>! Your new tickets will appear within 10 minutes. Come back in <b>{hours} {hours, plural, one{hour} other{hours}}</b> to spin again and win more!","page_join_daily_spinner_result_bust":"😔 Oh no! You didn’t win any tickets this time. Come back in <b>{hours} {hours, plural, one{hour} other{hours}}</b> to try your luck again!","page_join_daily_spinner_description":"Spin the wheel <b>each day</b> to earn extra competition entries—you could win up to <b>5 tickets</b> each time. New entries show up within 10 minutes!","page_join_daily_spinner_status_spinning":"🌀 Spinning the wheel… good luck!","page_join_daily_spinner_already_claimed":"🔄 Whoa there, eager spinner! You've already claimed your tickets today. <b>Return tomorrow</b> for another chance.","page_competition_restricted_modal_title":"Competition Unavailable in Your Region","page_competition_restricted_modal_disabled-text":"We’re sorry, but due to local regulations you cannot participate in our competitions at this time. Don’t worry, everything else on the platform is still at your fingertips!","page_competition_restricted_modal_disabled-contact-support":"If you have questions, our <a>support team</a> is here to help.","page_competition_restricted_modal_button":"Browse Other Features","page_topmenu_dropdown_trade_item_receive":"Receive","page_topmenu_dropdown_trade_item_send":"Send","page_topmenu_dropdown_trade_item_swap":"Swap","page_topmenu_dropdown_trade_item_topup":"Top Up","page_topmenu_dropdown_trade_item_activity":"Activity","page_topmenu_dropdown_trade_item_vault":"Vault","page_topmenu_dropdown_label_social":"Seasons","page_topmenu_dropdown_social_item_seasons":"Seasons","page_topmenu_dropdown_social_item_leaderboard":"Leaderboard","page_topmenu_dropdown_explore_item_news":"News","page_topmenu_dropdown_explore_item_learn":"Learn","page_topmenu_dropdown_explore_item_research":"Research","page_topmenu_dropdown_explore_item_ranking":"Ranking","page_topmenu_item_apps":"App Store","page_topmenu_dropdown_label_knowledge":"Discover","page_topmenu_item_wallet":"Wallet","page_mobile_menu_item_socials":"Seasons","page_mobile_menu_item_learn":"Discover","page_mobile_menu_item_menu":"Menu","page_mobile_sidebar_button_close":"Close","page_mobile_sidebar_item_settings":"Settings"},"children":["$","$L4",null,{"parallelRouterKey":"children","error":"$undefined","errorStyles":"$undefined","errorScripts":"$undefined","template":["$","$L5",null,{}],"templateStyles":"$undefined","templateScripts":"$undefined","notFound":"$undefined","forbidden":"$undefined","unauthorized":"$undefined"}]}]
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19:T47f,{"@context":"https://schema.org","@type":"NewsArticle","headline":"XRP vs SWIFT: Why Banks Choose \"Slow\" Traditional System Over Ripple's Lightning Speed","description":"The epic battle between SWIFT's legacy empire and XRP's blockchain revolution. Why banks choose old systems despite superior crypto technology.","mainEntityOfPage":"https://yellow.com/research/xrp-vs-swift-why-banks-choose-slow-traditional-system-over-ripples-lightning-speed","isAccessibleForFree":true,"url":"https://yellow.com/research/xrp-vs-swift-why-banks-choose-slow-traditional-system-over-ripples-lightning-speed","author":{"@type":"Person","name":"Kostiantyn Tsentsura","url":"https://yellow.com/authors/kostiantyn-tsentsura","image":"http://yellow-media-ymedia-strapi.ymedia-prod.svc.cluster.local:3000/uploads/kostya_14812554a1.jpg","sameAs":[]},"publisher":{"@type":"Organization","name":"Yellow","logo":{"@type":"ImageObject","url":"https://yellow.com/images/YellowLogo.webp"}},"image":"http://yellow-media-ymedia-strapi.ymedia-prod.svc.cluster.local:3000/uploads/shutterstock_1954746181_5f09387095.jpg","inLanguage":"en","datePublished":"2025-09-05T10:37:15.688Z"}1b:T82e3,**The [global financial system](https://yellow.com/news/banking-industry-challenges-basel-crypto-rules-set-for-2026-implementation) processes over [$150 trillion](https://www.mckinsey.com/industries/financial-services/our-insights/global-banking-annual-review) annually through a patchwork of legacy technologies, correspondent banking relationships, and messaging protocols that frequently take days to settle what blockchain proponents promise to complete in seconds.** 

At the center of this vast machinery sits SWIFT, a 50-year-old cooperative that handles the equivalent of global GDP every three days through its network of 11,500 financial institutions. Yet despite acknowledged inefficiencies - slow settlement times, high costs, and opacity - SWIFT continues to dominate international payments while blockchain alternatives like Ripple's XRP struggle to gain meaningful institutional adoption.

This paradox reached a sharp crescendo in September 2024 when Tom Zschach, SWIFT's Chief Innovation Officer, dismissed XRP as a "dead chain walking," arguing that "surviving lawsuits isn't resilience" and questioning whether institutions would ever accept "outsourcing settlement finality to a token that isn't regulated money." His criticism cuts to the heart of a fundamental tension in financial technology: the gap between technical capability and institutional reality.

The numbers tell a stark story. SWIFT processes 44.8 million daily messages with peak volumes exceeding 50 million, maintaining 99.999% uptime while connecting institutions across 200 countries. Meanwhile, XRP's DeFi ecosystem commands just $87.85 million in total value locked compared to Ethereum's $96.9 billion or Solana's $11.27 billion. 

Yet XRP settlements occur in 3-5 seconds at costs of $0.0002 per transaction, compared to SWIFT's 1-5 day timeframes and $25-50 institutional fees. This technical superiority raises uncomfortable questions: if blockchain payment solutions are genuinely better, why hasn't this translated into adoption at scale?

## The fortress of institutional finance

SWIFT's dominance rests not on technical superiority but on network effects that compound exponentially with each additional participant. The Society for Worldwide Interbank Financial Telecommunication functions as a member-owned cooperative where shareholding adjusts every three years based on message volumes, ensuring the most active participants maintain the strongest governance voice. This structure creates powerful incentives for continued participation while raising switching costs for potential defectors.

The organization's board reads like a roll call of global banking power, with representatives from JPMorgan Chase, Lloyds Bank, Deutsche Bank, HSBC, Citibank, and BNP Paribas. These institutions have invested decades and billions of dollars integrating SWIFT messaging standards into their core operations. Their staff understand SWIFT's Business Identifier Codes, their compliance systems recognize its message formats, and their operational procedures assume its reliability.

SWIFT's strategic positioning extends far beyond simple messaging. The organization provides built-in anti-money laundering tools, sanctions screening capabilities, and regulatory compliance infrastructure that banks have come to rely upon. Its three secure data centers in the United States, Netherlands, and Switzerland process transactions with military-grade encryption while maintaining the audit trails that satisfy regulators worldwide. This compliance infrastructure represents decades of regulatory relationship-building that would be nearly impossible for newcomers to replicate.

The cooperative's modernization efforts demonstrate institutional adaptability rather than stagnation. The ongoing ISO 20022 migration, mandated for completion by November 2025, provides richer structured data enabling better compliance, reconciliation, and automation. SWIFT Go, launched in 2021 for payments under $10,000, processes transactions within four hours with full fee transparency, directly targeting the market segment that fintech alternatives typically serve. Meanwhile, SWIFT GPI has become the default standard for high-value cross-border transactions, reducing median processing times to approximately two hours while providing end-to-end tracking.

These improvements matter because they address specific institutional pain points while preserving existing investment and relationships. Banks don't need to replace their core systems, retrain their staff, or navigate new regulatory frameworks. They can achieve meaningful improvements through incremental upgrades to familiar infrastructure, making modernization both safer and more palatable than revolutionary change.

## The weight of legacy systems

Understanding why banks resist blockchain adoption requires examining the technical and financial realities of banking infrastructure. Approximately 95% of ATM swipes rely on COBOL code, while 80% of in-person banking transactions run through programs written in a language most software engineers consider obsolete. These systems handle 220 billion lines of production code managing $3 trillion in daily commerce with remarkable reliability.

The persistence of mainframe technology reflects rational business decisions rather than technological backwardness. IBM z/OS systems achieve 99.999% uptime while processing massive transaction volumes that would overwhelm most modern distributed systems. Forty-five of the top 50 banks and 67 of the Fortune 100 companies rely on mainframes as their core platform, not because they lack alternatives, but because these systems prove their reliability through decades of uninterrupted operation.

Banks face extraordinary modernization challenges that blockchain advocates often underestimate. Total replacement costs frequently exceed $100 million for mid-sized institutions, with implementation timelines stretching 5-7 years. TSB Bank's catastrophic 2018 migration from Lloyds' platform to Spanish Sabadell's Proteo system illustrates the risks involved. The "big bang" approach corrupted 1.3 billion customer records, locked customers out of their accounts for weeks, and ultimately required complete abandonment after generating £62 million in regulatory fines plus £32.7 million in customer redress. The bank eventually outsourced its entire technology operation to IBM, demonstrating how failed modernization can eliminate rather than enhance institutional independence.

These failures create institutional trauma that reinforces conservative technology choices. Banks consume approximately 70% of their IT budgets maintaining legacy systems, with 40-50% of total technology investment dedicated to technical debt. Yet this maintenance spending represents risk mitigation rather than waste. The alternative - betting the institution on unproven technology - carries potentially existential consequences that few boards are willing to accept.

Successful modernization requires incremental approaches that minimize operational disruption. McKinsey research indicates that banks adopting progressive modernization strategies can reduce costs by 70% and timelines by half compared to traditional approaches. Atruvia AG exemplifies this approach, replacing 85% of core banking transactions with Java services while maintaining their COBOL infrastructure, achieving 3X performance improvements without operational disruption. ANZ Bank similarly transformed 200+ mainframe developers into DevOps practitioners, reducing hotfix deployment times from four weeks to one hour while maintaining system stability.

## The blockchain adoption paradox

XRP's technical capabilities appear tailor-made for institutional payment needs. The XRP Ledger settles 93% of transactions within 10 seconds, processes over 1,500 transactions per second, and maintains a 99% success rate during peak congestion. These performance metrics dwarf SWIFT's capabilities and promise cost reductions of 42% compared to traditional correspondent banking. Yet institutional adoption remains concentrated in specific corridors rather than spreading broadly across the global banking system.

Ripple's business model distinctions explain part of this adoption gap. RippleNet, the company's messaging and settlement platform, operates similarly to enhanced SWIFT services without requiring XRP cryptocurrency usage. Most major banking partnerships - including those with Santander, Standard Chartered, and PNC Bank - utilize RippleNet's messaging capabilities rather than XRP's token-based liquidity. This approach allows banks to benefit from improved cross-border payment technology while avoiding cryptocurrency regulatory uncertainty.

On-Demand Liquidity (ODL), Ripple's XRP-dependent service, shows more promising adoption metrics but remains concentrated among remittance companies rather than major banks. SBI Holdings in Japan, Tranglo in Malaysia, and Bitso in Latin America represent the most significant ODL users, processing high-volume corridors where XRP's liquidity advantages overcome regulatory concerns. The UAE-India corridor processed over $900 million through ODL in Q2 2025, while total ODL volume reached $1.3 trillion over the same period.

This geographic concentration reflects regulatory realities rather than technical limitations. Japan's central bank officially endorsed XRP for international transactions, with nearly 80% of Japanese banks planning integration by 2025. SBI Group CEO Yoshitaka Kitao's strong advocacy creates institutional momentum that doesn't exist in jurisdictions where regulatory uncertainty persists. Similarly, Southeast Asian markets with less developed correspondent banking networks show greater willingness to adopt blockchain alternatives.

The May 2025 SEC settlement provided crucial regulatory clarity for XRP adoption in the United States. The $50 million settlement confirmed that XRP secondary market sales are not securities while maintaining that institutional sales require securities registration. This distinction allows retail market development while creating clear compliance pathways for institutional adoption. Major US exchanges including Coinbase and Kraken subsequently reinstated XRP trading, while ETF applications from Grayscale, Bitwise, and 21Shares indicate growing institutional acceptance.

Yet regulatory clarity alone hasn't translated to widespread adoption. Recent technical initiatives including automated market makers, the RLUSD stablecoin launch, and Ethereum compatibility features demonstrate continued innovation within the XRP ecosystem. RLUSD achieved $694 million in circulation shortly after its December 2024 launch, providing a USD-pegged stablecoin option for institutions uncomfortable with direct XRP exposure. However, these developments haven't addressed fundamental governance concerns that institutions like SWIFT articulate.

## The centralization dilemma

Tom Zschach's "dead chain walking" criticism specifically targets XRP's governance model rather than its technical capabilities. His argument that "institutions don't want to live on a competitor's rails" reflects deep-seated preferences for neutral, shared governance structures over corporate-controlled alternatives. This criticism gains credence from objective metrics showing XRP's centralization compared to alternatives.

Ripple controls approximately 42% of total XRP supply through escrow mechanisms, creating potential influence over token economics that institutions find concerning. The XRP Ledger's consensus mechanism, while faster than Bitcoin's proof-of-work, relies on Unique Node Lists that were initially curated by Ripple. Although community management has since taken over, the historical centralization creates path dependency that competitors exploit.

Security analysis reinforces these concerns. Kaiko's August 2025 report ranked XRP Ledger last among 15 major blockchains with a security score of 41/100, citing validator concentration and low Nakamoto coefficient. A supply chain attack on xrpl.js JavaScript library in April 2025 exposed additional vulnerabilities in the ecosystem's developer tools. These incidents provide ammunition for critics arguing that XRP lacks the decentralization and security properties that justify blockchain adoption.

SWIFT's cooperative structure contrasts favorably with corporate-controlled alternatives from institutional perspectives. Member ownership ensures that no single entity can unilaterally change rules, pricing, or technical standards. The 25-director board elected by shareholders provides representation proportional to network usage, while oversight from G-10 central banks plus 15 additional monetary authorities provides regulatory legitimacy. This governance model, developed over five decades, offers institutional comfort that newer alternatives struggle to match.

The XRP Ledger Foundation's 2024 transition to community-based governance addresses some centralization concerns but may come too late to overcome institutional skepticism. The foundation's French incorporation, rotating board structure, and XAO DAO ecosystem fund represent meaningful governance improvements. However, changing institutional perceptions of established systems requires sustained proof of concept rather than structural adjustments.

## The competitive landscape reality

XRP faces intensifying competition from multiple directions that complicate its institutional value proposition. Central bank digital currencies represent perhaps the most significant long-term threat to blockchain payment solutions. With 137 countries representing 98% of global GDP now exploring CBDCs, the prospect of direct central bank-to-central bank settlement could eliminate the need for private blockchain intermediaries entirely.

China's digital yuan has processed over $986 billion in transactions across 17 provincial regions, demonstrating CBDC viability at massive scale. India's digital rupee shows 334% growth with ₹10.16 billion in circulation by March 2025, while the European Central Bank's digital euro preparation phase aims to strengthen the euro's international role. Even the United States, despite pausing retail CBDC development under the Trump administration, continues central bank research that could yield institutional CBDC applications.

Stablecoin adoption presents more immediate competitive pressure. USD Coin (USDC) commands $65.2 billion in circulation with strong regulatory compliance and institutional preference. Circle's partnership with Finastra provides USDC integration with the Global PAYplus platform processing $5 trillion daily across 45 of the top 50 banks. Visa's pilot program using USDC on Solana for B2B payments to Worldpay and Nuvei demonstrates how established payment networks are incorporating stablecoins without requiring new blockchain infrastructure.

Alternative blockchain networks position themselves as enterprise-focused competitors to XRP. Hedera Hashgraph's governing council includes Google, IBM, Boeing, and Deutsche Telekom, providing corporate credibility while achieving 10,000+ transactions per second capacity. Algorand's partnerships with Sweden's Riksbank for e-Krona CBDC testing and ISO 20022 compliance for financial messaging standards appeal to institutions seeking government-endorsed alternatives. Stellar focuses on financial inclusion and smaller institutions, processing transactions with minimal fees while maintaining more decentralized governance than XRP.

SWIFT's own blockchain integration efforts may prove most threatening to XRP's institutional adoption prospects. The organization's collaboration with Chainlink and 12+ major financial institutions demonstrates live digital asset transaction capabilities using existing infrastructure. This approach allows banks to participate in tokenized markets while preserving their established SWIFT relationships, potentially eliminating the need to choose between traditional and blockchain-based systems.

## The regulatory minefield

Banking regulation creates systematic advantages for established systems that blockchain alternatives struggle to overcome. Basel III's 1250% risk weighting for cryptocurrency assets requires banks to hold €1 in capital for every €1 of crypto exposure, making direct blockchain asset holdings economically prohibitive. This regulatory framework, implemented across major jurisdictions by 2025, reflects regulators' preference for traditional monetary instruments over decentralized alternatives.

EY's global survey identified regulatory uncertainty as the primary blockchain adoption barrier, cited by 61% of senior finance professionals. This uncertainty manifests differently across jurisdictions, creating compliance challenges for global institutions that blockchain's borderless nature was supposed to eliminate. The fragmentation extends beyond cryptocurrency regulation to include data privacy requirements, financial messaging standards, and cross-border transaction monitoring that established systems already address.

European GDPR requirements illustrate specific regulatory conflicts with blockchain technology. The regulation's "right to be forgotten" provisions conflict fundamentally with blockchain's immutable ledger design, creating legal risks for institutions operating in EU markets. While technical solutions like off-chain data storage address some concerns, they add complexity that reduces blockchain's theoretical advantages over traditional systems.

Network effects in regulatory compliance favor established systems with proven track records. SWIFT's built-in sanctions screening, anti-money laundering tools, and standardized reporting formats integrate seamlessly with existing bank compliance infrastructure. Blockchain alternatives require separate compliance layers that duplicate rather than replace existing systems, increasing rather than reducing operational complexity.

The recent US regulatory environment shift under the Trump administration provides some relief for blockchain adoption. Withdrawal of restrictive guidance including FDIC FIL-16-2022 and Federal Reserve supervisory letters reduces immediate compliance pressure. However, the fundamental preference for traditional monetary instruments remains embedded in broader financial stability frameworks that aren't easily changed through executive action.

## The institutional inertia factor

Banking resistance to blockchain adoption reflects rational organizational behavior rather than technological conservatism. Financial institutions face extraordinary coordination challenges when considering infrastructure changes that affect counterparty relationships, regulatory compliance, and operational procedures developed over decades. The chicken-and-egg problem becomes acute in network-dependent services where value depends on widespread adoption rather than individual implementation.

Institutional decision-making processes favor incremental improvements over revolutionary changes. Banking boards, trained to manage fiduciary risk, naturally prefer enhancing proven systems over betting institutional futures on unproven alternatives. This bias appears particularly rational given blockchain's mixed track record in financial applications. Beyond TSB's mainframe migration disaster, numerous blockchain projects have failed to deliver promised benefits while consuming substantial resources.

The sunk cost fallacy reinforces conservative technology choices but shouldn't be dismissed as irrational bias. Banks have invested hundreds of billions of dollars in existing infrastructure that continues performing core functions reliably. Replacing functional systems with alternatives offering marginal improvements requires compelling business justification that blockchain applications often fail to provide.

Professional incentive structures within banks reward risk mitigation over innovation. Technology executives advance their careers by maintaining system stability and regulatory compliance rather than pioneering unproven solutions. This creates systematic bias against blockchain adoption regardless of theoretical advantages, as career risk from failed implementation far exceeds potential rewards from successful innovation.

## The cost-benefit reality check

Blockchain's value proposition for banking varies dramatically by application and market context. Trade finance represents perhaps the strongest use case, with the $2 trillion documentary trade market suffering from paper-based processes that blockchain can meaningfully improve. JPMorgan's Liink platform demonstrates this potential by reducing sanctions verification from weeks to minutes while maintaining regulatory compliance.

Cross-border payments show mixed results depending on corridor characteristics. In markets with well-developed correspondent banking relationships, blockchain offers limited advantages over traditional systems enhanced with modern APIs and real-time messaging. However, in corridors lacking efficient correspondent relationships or serving underbanked populations, blockchain solutions provide genuine value. This explains XRP's success in Southeast Asian remittances while major banks in developed markets show limited interest.

Implementation costs for blockchain solutions range from $30,000 to over $250,000 depending on complexity, with substantial ongoing maintenance requirements. These costs must generate sufficient benefits to justify disrupting existing processes and training staff on new procedures. For many banking applications, enhanced traditional systems deliver similar benefits at lower implementation risk and cost.

The emergence of generative AI offers alternative modernization approaches that may be more attractive than blockchain adoption. AI-enhanced systems can improve existing infrastructure performance by 40-50% while maintaining familiar operational procedures. This technological alternative reduces blockchain's relative attractiveness by providing efficiency gains without requiring fundamental system replacement.

## Market dynamics and network effects

SWIFT's network effects create virtually insurmountable barriers for alternative systems seeking wholesale replacement. Each additional participant increases network value exponentially while raising switching costs for existing members. With 11,500+ institutions already connected, new participants benefit immediately from universal connectivity while contributing to network value for existing members.

The coordination problem becomes acute when considering partial adoption strategies. Banks contemplating blockchain alternatives must consider counterparty capabilities, regulatory acceptance, and operational complexity. If major correspondent banks lack blockchain capabilities or regulators express skepticism, individual institutions have little incentive to pioneer unproven alternatives.

Blockchain alternatives face the difficult challenge of providing sufficient value to overcome network effects while building competing networks from scratch. This explains why successful blockchain payment applications focus on underserved markets where existing networks provide limited value rather than directly competing with established infrastructure.

SWIFT's strategic response to blockchain competition demonstrates how established networks can adapt to neutralize competitive threats. By positioning itself as an interoperability layer connecting multiple blockchain networks through existing infrastructure, SWIFT maintains its central role while incorporating blockchain capabilities. This approach allows member institutions to participate in digital asset markets without abandoning proven infrastructure relationships.

## Technical capabilities versus institutional requirements

XRP's technical superiority in speed, cost, and energy efficiency addresses real institutional pain points but misses critical requirements for banking adoption. While 3-5 second settlement times and $0.0002 transaction costs provide clear advantages over SWIFT's performance metrics, these benefits must overcome regulatory uncertainty, operational complexity, and governance concerns to achieve institutional adoption.

The DeFi ecosystem comparison reveals XRP's limited developer and user adoption compared to Ethereum and Solana. With total value locked of just $87.85 million compared to Ethereum's $96.9 billion, XRP lacks the ecosystem development that typically drives platform adoption. This metric particularly matters for institutional decision-makers who view developer activity and user growth as indicators of long-term viability.

Recent technical developments including automated market makers, RLUSD stablecoin integration, and Ethereum compatibility features demonstrate continued innovation within the XRP ecosystem. However, these improvements address perceived weaknesses rather than leveraging core strengths, potentially diluting XRP's focused value proposition as a payment-specific blockchain.

The question of technical architecture versus institutional governance becomes central to understanding adoption barriers. While XRP's consensus mechanism enables faster settlement than traditional systems, banks prioritize governance models that provide institutional control over technical performance advantages. This explains why consortium blockchains and private networks often succeed where public blockchains struggle in enterprise applications.

## Future scenarios: coexistence or replacement

The most likely future involves coexistence rather than replacement, with blockchain technology serving as infrastructure enhancement rather than substitute for existing systems. SWIFT's blockchain integration trials suggest this evolution, where traditional messaging networks gain blockchain connectivity without requiring institutional partners to abandon proven infrastructure.

Central bank digital currencies may provide the most significant long-term disruption to current payment architectures. CBDCs could enable direct central bank-to-central bank settlement that bypasses both traditional correspondent banking and private blockchain alternatives. This scenario would maintain government monetary control while achieving blockchain's efficiency advantages, potentially marginalizing both SWIFT and XRP in international settlement.

Stablecoin adoption represents another evolutionary path where blockchain technology succeeds through integration with existing financial infrastructure rather than replacement. USDC's integration with major banks through traditional payment processors demonstrates how blockchain benefits can be captured without requiring fundamental system changes.

The enterprise blockchain space may develop along industry-specific lines, with different networks serving particular market segments based on governance preferences and technical requirements. This fragmented future would limit individual blockchain networks' scale advantages while preserving institutional choice and competition.

Regional payment networks represent another development path that could either complement or compete with both SWIFT and blockchain alternatives. Systems like FedNow in the United States, Pix in Brazil, and UPI in India demonstrate how domestic real-time payment rails can provide blockchain-like benefits through traditional infrastructure enhanced with modern APIs and standards.

## Assessment of zschach's criticism

Tom Zschach's characterization of XRP as "dead chain walking" appears overstated based on objective adoption metrics and institutional progress. XRP demonstrates clear utility in specific cross-border payment corridors with measurable performance advantages over traditional systems. The SEC settlement provides regulatory clarity that addresses major institutional concerns, while partnerships in Japan and Southeast Asia show genuine adoption rather than speculative interest.

However, Zschach's broader critique regarding institutional preferences for neutral governance structures reflects legitimate concerns. XRP's corporate control model conflicts with institutional preferences for shared governance systems where no single entity can unilaterally change rules or economics. This governance preference explains why institutions gravitate toward cooperative structures like SWIFT or government-issued alternatives like CBDCs.

The criticism also accurately identifies XRP's limited ecosystem development compared to alternatives. The minimal DeFi adoption and developer activity suggest that XRP may be optimized for institutional payments at the expense of broader platform development. This narrow focus provides competitive advantage in specific use cases while creating vulnerability to more general-purpose blockchain platforms.

Zschach's argument that "compliance isn't about one company convincing regulators it should be allowed to operate" but rather "an entire industry agreeing on shared standards that no single balance sheet controls" articulates fundamental institutional preferences that blockchain advocates often underestimate. This perspective suggests that successful blockchain adoption requires industry-wide coordination rather than corporate-led innovation.

## The bias question: legitimate concerns or protectionism

Traditional finance criticism of blockchain contains elements of both legitimate concern and institutional protectionism. The regulatory emphasis on financial stability, consumer protection, and systemic risk management reflects genuine responsibilities that central banks and regulators must fulfill. Banking's central role in modern economies justifies conservative approaches to infrastructure changes that could affect economic stability.

Basel III's 1250% crypto asset risk weighting exemplifies potentially protectionist regulation that seems disproportionate compared to other asset classes. This requirement effectively prohibits bank cryptocurrency holdings regardless of individual asset characteristics or use cases, suggesting regulatory preference for existing systems rather than neutral technology evaluation.

However, many regulatory concerns reflect legitimate technical and operational challenges rather than simple protectionism. Blockchain's immutability conflicts with data privacy requirements, public ledgers create confidentiality challenges, and distributed consensus mechanisms complicate dispute resolution in ways that traditional systems handle more easily. These concerns require technical solutions rather than regulatory accommodation.

The institutional preference for proven systems over potentially superior alternatives reflects rational risk management rather than technological conservatism. Banking's fiduciary responsibilities and systemic importance justify conservative technology adoption even at the cost of efficiency improvements, particularly when those improvements come with operational complexity and regulatory uncertainty.

## FInal thoughts 

SWIFT's continued dominance despite acknowledged inefficiencies demonstrates how network effects, institutional relationships, and regulatory frameworks can override technical advantages in complex systems. The organization's 50-year head start created institutional dependencies that prove remarkably resistant to competitive pressure, even from technically superior alternatives.

XRP's struggles reflect the gap between technological capability and institutional requirements. While the XRP Ledger provides clear performance advantages over traditional payment systems, these benefits haven't overcome governance concerns, regulatory uncertainty, and the coordination challenges of competing with established network effects. Recent developments including regulatory clarity and technical enhancements provide opportunities for increased adoption, but institutional skepticism remains a significant barrier.

The future likely involves evolution rather than revolution, with blockchain technology enhancing rather than replacing existing financial infrastructure. SWIFT's blockchain integration experiments, stablecoin adoption by traditional financial institutions, and CBDC development suggest hybrid approaches that capture blockchain benefits while preserving institutional control and regulatory compliance.

This evolution reflects the conservative nature of financial institutions and their regulators, who prioritize stability and proven performance over efficiency and innovation. While this approach may limit the pace of technological advancement, it also protects the financial system from the operational risks that accompany revolutionary change. Understanding these institutional dynamics provides crucial context for evaluating both the potential and limitations of blockchain adoption in traditional finance.

The ultimate question isn't whether blockchain technology is superior to traditional payment systems - objective metrics suggest it often is - but whether these advantages justify the risks and costs of replacing functional infrastructure that serves the world's financial needs reliably, if not efficiently. Tom Zschach's criticism may overstate XRP's weaknesses, but his broader point about institutional preferences for neutral, shared governance structures captures fundamental dynamics that blockchain advocates ignore at their peril.1c:T82e3,**The [global financial system](https://yellow.com/news/banking-industry-challenges-basel-crypto-rules-set-for-2026-implementation) processes over [$150 trillion](https://www.mckinsey.com/industries/financial-services/our-insights/global-banking-annual-review) annually through a patchwork of legacy technologies, correspondent banking relationships, and messaging protocols that frequently take days to settle what blockchain proponents promise to complete in seconds.** 

At the center of this vast machinery sits SWIFT, a 50-year-old cooperative that handles the equivalent of global GDP every three days through its network of 11,500 financial institutions. Yet despite acknowledged inefficiencies - slow settlement times, high costs, and opacity - SWIFT continues to dominate international payments while blockchain alternatives like Ripple's XRP struggle to gain meaningful institutional adoption.

This paradox reached a sharp crescendo in September 2024 when Tom Zschach, SWIFT's Chief Innovation Officer, dismissed XRP as a "dead chain walking," arguing that "surviving lawsuits isn't resilience" and questioning whether institutions would ever accept "outsourcing settlement finality to a token that isn't regulated money." His criticism cuts to the heart of a fundamental tension in financial technology: the gap between technical capability and institutional reality.

The numbers tell a stark story. SWIFT processes 44.8 million daily messages with peak volumes exceeding 50 million, maintaining 99.999% uptime while connecting institutions across 200 countries. Meanwhile, XRP's DeFi ecosystem commands just $87.85 million in total value locked compared to Ethereum's $96.9 billion or Solana's $11.27 billion. 

Yet XRP settlements occur in 3-5 seconds at costs of $0.0002 per transaction, compared to SWIFT's 1-5 day timeframes and $25-50 institutional fees. This technical superiority raises uncomfortable questions: if blockchain payment solutions are genuinely better, why hasn't this translated into adoption at scale?

## The fortress of institutional finance

SWIFT's dominance rests not on technical superiority but on network effects that compound exponentially with each additional participant. The Society for Worldwide Interbank Financial Telecommunication functions as a member-owned cooperative where shareholding adjusts every three years based on message volumes, ensuring the most active participants maintain the strongest governance voice. This structure creates powerful incentives for continued participation while raising switching costs for potential defectors.

The organization's board reads like a roll call of global banking power, with representatives from JPMorgan Chase, Lloyds Bank, Deutsche Bank, HSBC, Citibank, and BNP Paribas. These institutions have invested decades and billions of dollars integrating SWIFT messaging standards into their core operations. Their staff understand SWIFT's Business Identifier Codes, their compliance systems recognize its message formats, and their operational procedures assume its reliability.

SWIFT's strategic positioning extends far beyond simple messaging. The organization provides built-in anti-money laundering tools, sanctions screening capabilities, and regulatory compliance infrastructure that banks have come to rely upon. Its three secure data centers in the United States, Netherlands, and Switzerland process transactions with military-grade encryption while maintaining the audit trails that satisfy regulators worldwide. This compliance infrastructure represents decades of regulatory relationship-building that would be nearly impossible for newcomers to replicate.

The cooperative's modernization efforts demonstrate institutional adaptability rather than stagnation. The ongoing ISO 20022 migration, mandated for completion by November 2025, provides richer structured data enabling better compliance, reconciliation, and automation. SWIFT Go, launched in 2021 for payments under $10,000, processes transactions within four hours with full fee transparency, directly targeting the market segment that fintech alternatives typically serve. Meanwhile, SWIFT GPI has become the default standard for high-value cross-border transactions, reducing median processing times to approximately two hours while providing end-to-end tracking.

These improvements matter because they address specific institutional pain points while preserving existing investment and relationships. Banks don't need to replace their core systems, retrain their staff, or navigate new regulatory frameworks. They can achieve meaningful improvements through incremental upgrades to familiar infrastructure, making modernization both safer and more palatable than revolutionary change.

## The weight of legacy systems

Understanding why banks resist blockchain adoption requires examining the technical and financial realities of banking infrastructure. Approximately 95% of ATM swipes rely on COBOL code, while 80% of in-person banking transactions run through programs written in a language most software engineers consider obsolete. These systems handle 220 billion lines of production code managing $3 trillion in daily commerce with remarkable reliability.

The persistence of mainframe technology reflects rational business decisions rather than technological backwardness. IBM z/OS systems achieve 99.999% uptime while processing massive transaction volumes that would overwhelm most modern distributed systems. Forty-five of the top 50 banks and 67 of the Fortune 100 companies rely on mainframes as their core platform, not because they lack alternatives, but because these systems prove their reliability through decades of uninterrupted operation.

Banks face extraordinary modernization challenges that blockchain advocates often underestimate. Total replacement costs frequently exceed $100 million for mid-sized institutions, with implementation timelines stretching 5-7 years. TSB Bank's catastrophic 2018 migration from Lloyds' platform to Spanish Sabadell's Proteo system illustrates the risks involved. The "big bang" approach corrupted 1.3 billion customer records, locked customers out of their accounts for weeks, and ultimately required complete abandonment after generating £62 million in regulatory fines plus £32.7 million in customer redress. The bank eventually outsourced its entire technology operation to IBM, demonstrating how failed modernization can eliminate rather than enhance institutional independence.

These failures create institutional trauma that reinforces conservative technology choices. Banks consume approximately 70% of their IT budgets maintaining legacy systems, with 40-50% of total technology investment dedicated to technical debt. Yet this maintenance spending represents risk mitigation rather than waste. The alternative - betting the institution on unproven technology - carries potentially existential consequences that few boards are willing to accept.

Successful modernization requires incremental approaches that minimize operational disruption. McKinsey research indicates that banks adopting progressive modernization strategies can reduce costs by 70% and timelines by half compared to traditional approaches. Atruvia AG exemplifies this approach, replacing 85% of core banking transactions with Java services while maintaining their COBOL infrastructure, achieving 3X performance improvements without operational disruption. ANZ Bank similarly transformed 200+ mainframe developers into DevOps practitioners, reducing hotfix deployment times from four weeks to one hour while maintaining system stability.

## The blockchain adoption paradox

XRP's technical capabilities appear tailor-made for institutional payment needs. The XRP Ledger settles 93% of transactions within 10 seconds, processes over 1,500 transactions per second, and maintains a 99% success rate during peak congestion. These performance metrics dwarf SWIFT's capabilities and promise cost reductions of 42% compared to traditional correspondent banking. Yet institutional adoption remains concentrated in specific corridors rather than spreading broadly across the global banking system.

Ripple's business model distinctions explain part of this adoption gap. RippleNet, the company's messaging and settlement platform, operates similarly to enhanced SWIFT services without requiring XRP cryptocurrency usage. Most major banking partnerships - including those with Santander, Standard Chartered, and PNC Bank - utilize RippleNet's messaging capabilities rather than XRP's token-based liquidity. This approach allows banks to benefit from improved cross-border payment technology while avoiding cryptocurrency regulatory uncertainty.

On-Demand Liquidity (ODL), Ripple's XRP-dependent service, shows more promising adoption metrics but remains concentrated among remittance companies rather than major banks. SBI Holdings in Japan, Tranglo in Malaysia, and Bitso in Latin America represent the most significant ODL users, processing high-volume corridors where XRP's liquidity advantages overcome regulatory concerns. The UAE-India corridor processed over $900 million through ODL in Q2 2025, while total ODL volume reached $1.3 trillion over the same period.

This geographic concentration reflects regulatory realities rather than technical limitations. Japan's central bank officially endorsed XRP for international transactions, with nearly 80% of Japanese banks planning integration by 2025. SBI Group CEO Yoshitaka Kitao's strong advocacy creates institutional momentum that doesn't exist in jurisdictions where regulatory uncertainty persists. Similarly, Southeast Asian markets with less developed correspondent banking networks show greater willingness to adopt blockchain alternatives.

The May 2025 SEC settlement provided crucial regulatory clarity for XRP adoption in the United States. The $50 million settlement confirmed that XRP secondary market sales are not securities while maintaining that institutional sales require securities registration. This distinction allows retail market development while creating clear compliance pathways for institutional adoption. Major US exchanges including Coinbase and Kraken subsequently reinstated XRP trading, while ETF applications from Grayscale, Bitwise, and 21Shares indicate growing institutional acceptance.

Yet regulatory clarity alone hasn't translated to widespread adoption. Recent technical initiatives including automated market makers, the RLUSD stablecoin launch, and Ethereum compatibility features demonstrate continued innovation within the XRP ecosystem. RLUSD achieved $694 million in circulation shortly after its December 2024 launch, providing a USD-pegged stablecoin option for institutions uncomfortable with direct XRP exposure. However, these developments haven't addressed fundamental governance concerns that institutions like SWIFT articulate.

## The centralization dilemma

Tom Zschach's "dead chain walking" criticism specifically targets XRP's governance model rather than its technical capabilities. His argument that "institutions don't want to live on a competitor's rails" reflects deep-seated preferences for neutral, shared governance structures over corporate-controlled alternatives. This criticism gains credence from objective metrics showing XRP's centralization compared to alternatives.

Ripple controls approximately 42% of total XRP supply through escrow mechanisms, creating potential influence over token economics that institutions find concerning. The XRP Ledger's consensus mechanism, while faster than Bitcoin's proof-of-work, relies on Unique Node Lists that were initially curated by Ripple. Although community management has since taken over, the historical centralization creates path dependency that competitors exploit.

Security analysis reinforces these concerns. Kaiko's August 2025 report ranked XRP Ledger last among 15 major blockchains with a security score of 41/100, citing validator concentration and low Nakamoto coefficient. A supply chain attack on xrpl.js JavaScript library in April 2025 exposed additional vulnerabilities in the ecosystem's developer tools. These incidents provide ammunition for critics arguing that XRP lacks the decentralization and security properties that justify blockchain adoption.

SWIFT's cooperative structure contrasts favorably with corporate-controlled alternatives from institutional perspectives. Member ownership ensures that no single entity can unilaterally change rules, pricing, or technical standards. The 25-director board elected by shareholders provides representation proportional to network usage, while oversight from G-10 central banks plus 15 additional monetary authorities provides regulatory legitimacy. This governance model, developed over five decades, offers institutional comfort that newer alternatives struggle to match.

The XRP Ledger Foundation's 2024 transition to community-based governance addresses some centralization concerns but may come too late to overcome institutional skepticism. The foundation's French incorporation, rotating board structure, and XAO DAO ecosystem fund represent meaningful governance improvements. However, changing institutional perceptions of established systems requires sustained proof of concept rather than structural adjustments.

## The competitive landscape reality

XRP faces intensifying competition from multiple directions that complicate its institutional value proposition. Central bank digital currencies represent perhaps the most significant long-term threat to blockchain payment solutions. With 137 countries representing 98% of global GDP now exploring CBDCs, the prospect of direct central bank-to-central bank settlement could eliminate the need for private blockchain intermediaries entirely.

China's digital yuan has processed over $986 billion in transactions across 17 provincial regions, demonstrating CBDC viability at massive scale. India's digital rupee shows 334% growth with ₹10.16 billion in circulation by March 2025, while the European Central Bank's digital euro preparation phase aims to strengthen the euro's international role. Even the United States, despite pausing retail CBDC development under the Trump administration, continues central bank research that could yield institutional CBDC applications.

Stablecoin adoption presents more immediate competitive pressure. USD Coin (USDC) commands $65.2 billion in circulation with strong regulatory compliance and institutional preference. Circle's partnership with Finastra provides USDC integration with the Global PAYplus platform processing $5 trillion daily across 45 of the top 50 banks. Visa's pilot program using USDC on Solana for B2B payments to Worldpay and Nuvei demonstrates how established payment networks are incorporating stablecoins without requiring new blockchain infrastructure.

Alternative blockchain networks position themselves as enterprise-focused competitors to XRP. Hedera Hashgraph's governing council includes Google, IBM, Boeing, and Deutsche Telekom, providing corporate credibility while achieving 10,000+ transactions per second capacity. Algorand's partnerships with Sweden's Riksbank for e-Krona CBDC testing and ISO 20022 compliance for financial messaging standards appeal to institutions seeking government-endorsed alternatives. Stellar focuses on financial inclusion and smaller institutions, processing transactions with minimal fees while maintaining more decentralized governance than XRP.

SWIFT's own blockchain integration efforts may prove most threatening to XRP's institutional adoption prospects. The organization's collaboration with Chainlink and 12+ major financial institutions demonstrates live digital asset transaction capabilities using existing infrastructure. This approach allows banks to participate in tokenized markets while preserving their established SWIFT relationships, potentially eliminating the need to choose between traditional and blockchain-based systems.

## The regulatory minefield

Banking regulation creates systematic advantages for established systems that blockchain alternatives struggle to overcome. Basel III's 1250% risk weighting for cryptocurrency assets requires banks to hold €1 in capital for every €1 of crypto exposure, making direct blockchain asset holdings economically prohibitive. This regulatory framework, implemented across major jurisdictions by 2025, reflects regulators' preference for traditional monetary instruments over decentralized alternatives.

EY's global survey identified regulatory uncertainty as the primary blockchain adoption barrier, cited by 61% of senior finance professionals. This uncertainty manifests differently across jurisdictions, creating compliance challenges for global institutions that blockchain's borderless nature was supposed to eliminate. The fragmentation extends beyond cryptocurrency regulation to include data privacy requirements, financial messaging standards, and cross-border transaction monitoring that established systems already address.

European GDPR requirements illustrate specific regulatory conflicts with blockchain technology. The regulation's "right to be forgotten" provisions conflict fundamentally with blockchain's immutable ledger design, creating legal risks for institutions operating in EU markets. While technical solutions like off-chain data storage address some concerns, they add complexity that reduces blockchain's theoretical advantages over traditional systems.

Network effects in regulatory compliance favor established systems with proven track records. SWIFT's built-in sanctions screening, anti-money laundering tools, and standardized reporting formats integrate seamlessly with existing bank compliance infrastructure. Blockchain alternatives require separate compliance layers that duplicate rather than replace existing systems, increasing rather than reducing operational complexity.

The recent US regulatory environment shift under the Trump administration provides some relief for blockchain adoption. Withdrawal of restrictive guidance including FDIC FIL-16-2022 and Federal Reserve supervisory letters reduces immediate compliance pressure. However, the fundamental preference for traditional monetary instruments remains embedded in broader financial stability frameworks that aren't easily changed through executive action.

## The institutional inertia factor

Banking resistance to blockchain adoption reflects rational organizational behavior rather than technological conservatism. Financial institutions face extraordinary coordination challenges when considering infrastructure changes that affect counterparty relationships, regulatory compliance, and operational procedures developed over decades. The chicken-and-egg problem becomes acute in network-dependent services where value depends on widespread adoption rather than individual implementation.

Institutional decision-making processes favor incremental improvements over revolutionary changes. Banking boards, trained to manage fiduciary risk, naturally prefer enhancing proven systems over betting institutional futures on unproven alternatives. This bias appears particularly rational given blockchain's mixed track record in financial applications. Beyond TSB's mainframe migration disaster, numerous blockchain projects have failed to deliver promised benefits while consuming substantial resources.

The sunk cost fallacy reinforces conservative technology choices but shouldn't be dismissed as irrational bias. Banks have invested hundreds of billions of dollars in existing infrastructure that continues performing core functions reliably. Replacing functional systems with alternatives offering marginal improvements requires compelling business justification that blockchain applications often fail to provide.

Professional incentive structures within banks reward risk mitigation over innovation. Technology executives advance their careers by maintaining system stability and regulatory compliance rather than pioneering unproven solutions. This creates systematic bias against blockchain adoption regardless of theoretical advantages, as career risk from failed implementation far exceeds potential rewards from successful innovation.

## The cost-benefit reality check

Blockchain's value proposition for banking varies dramatically by application and market context. Trade finance represents perhaps the strongest use case, with the $2 trillion documentary trade market suffering from paper-based processes that blockchain can meaningfully improve. JPMorgan's Liink platform demonstrates this potential by reducing sanctions verification from weeks to minutes while maintaining regulatory compliance.

Cross-border payments show mixed results depending on corridor characteristics. In markets with well-developed correspondent banking relationships, blockchain offers limited advantages over traditional systems enhanced with modern APIs and real-time messaging. However, in corridors lacking efficient correspondent relationships or serving underbanked populations, blockchain solutions provide genuine value. This explains XRP's success in Southeast Asian remittances while major banks in developed markets show limited interest.

Implementation costs for blockchain solutions range from $30,000 to over $250,000 depending on complexity, with substantial ongoing maintenance requirements. These costs must generate sufficient benefits to justify disrupting existing processes and training staff on new procedures. For many banking applications, enhanced traditional systems deliver similar benefits at lower implementation risk and cost.

The emergence of generative AI offers alternative modernization approaches that may be more attractive than blockchain adoption. AI-enhanced systems can improve existing infrastructure performance by 40-50% while maintaining familiar operational procedures. This technological alternative reduces blockchain's relative attractiveness by providing efficiency gains without requiring fundamental system replacement.

## Market dynamics and network effects

SWIFT's network effects create virtually insurmountable barriers for alternative systems seeking wholesale replacement. Each additional participant increases network value exponentially while raising switching costs for existing members. With 11,500+ institutions already connected, new participants benefit immediately from universal connectivity while contributing to network value for existing members.

The coordination problem becomes acute when considering partial adoption strategies. Banks contemplating blockchain alternatives must consider counterparty capabilities, regulatory acceptance, and operational complexity. If major correspondent banks lack blockchain capabilities or regulators express skepticism, individual institutions have little incentive to pioneer unproven alternatives.

Blockchain alternatives face the difficult challenge of providing sufficient value to overcome network effects while building competing networks from scratch. This explains why successful blockchain payment applications focus on underserved markets where existing networks provide limited value rather than directly competing with established infrastructure.

SWIFT's strategic response to blockchain competition demonstrates how established networks can adapt to neutralize competitive threats. By positioning itself as an interoperability layer connecting multiple blockchain networks through existing infrastructure, SWIFT maintains its central role while incorporating blockchain capabilities. This approach allows member institutions to participate in digital asset markets without abandoning proven infrastructure relationships.

## Technical capabilities versus institutional requirements

XRP's technical superiority in speed, cost, and energy efficiency addresses real institutional pain points but misses critical requirements for banking adoption. While 3-5 second settlement times and $0.0002 transaction costs provide clear advantages over SWIFT's performance metrics, these benefits must overcome regulatory uncertainty, operational complexity, and governance concerns to achieve institutional adoption.

The DeFi ecosystem comparison reveals XRP's limited developer and user adoption compared to Ethereum and Solana. With total value locked of just $87.85 million compared to Ethereum's $96.9 billion, XRP lacks the ecosystem development that typically drives platform adoption. This metric particularly matters for institutional decision-makers who view developer activity and user growth as indicators of long-term viability.

Recent technical developments including automated market makers, RLUSD stablecoin integration, and Ethereum compatibility features demonstrate continued innovation within the XRP ecosystem. However, these improvements address perceived weaknesses rather than leveraging core strengths, potentially diluting XRP's focused value proposition as a payment-specific blockchain.

The question of technical architecture versus institutional governance becomes central to understanding adoption barriers. While XRP's consensus mechanism enables faster settlement than traditional systems, banks prioritize governance models that provide institutional control over technical performance advantages. This explains why consortium blockchains and private networks often succeed where public blockchains struggle in enterprise applications.

## Future scenarios: coexistence or replacement

The most likely future involves coexistence rather than replacement, with blockchain technology serving as infrastructure enhancement rather than substitute for existing systems. SWIFT's blockchain integration trials suggest this evolution, where traditional messaging networks gain blockchain connectivity without requiring institutional partners to abandon proven infrastructure.

Central bank digital currencies may provide the most significant long-term disruption to current payment architectures. CBDCs could enable direct central bank-to-central bank settlement that bypasses both traditional correspondent banking and private blockchain alternatives. This scenario would maintain government monetary control while achieving blockchain's efficiency advantages, potentially marginalizing both SWIFT and XRP in international settlement.

Stablecoin adoption represents another evolutionary path where blockchain technology succeeds through integration with existing financial infrastructure rather than replacement. USDC's integration with major banks through traditional payment processors demonstrates how blockchain benefits can be captured without requiring fundamental system changes.

The enterprise blockchain space may develop along industry-specific lines, with different networks serving particular market segments based on governance preferences and technical requirements. This fragmented future would limit individual blockchain networks' scale advantages while preserving institutional choice and competition.

Regional payment networks represent another development path that could either complement or compete with both SWIFT and blockchain alternatives. Systems like FedNow in the United States, Pix in Brazil, and UPI in India demonstrate how domestic real-time payment rails can provide blockchain-like benefits through traditional infrastructure enhanced with modern APIs and standards.

## Assessment of zschach's criticism

Tom Zschach's characterization of XRP as "dead chain walking" appears overstated based on objective adoption metrics and institutional progress. XRP demonstrates clear utility in specific cross-border payment corridors with measurable performance advantages over traditional systems. The SEC settlement provides regulatory clarity that addresses major institutional concerns, while partnerships in Japan and Southeast Asia show genuine adoption rather than speculative interest.

However, Zschach's broader critique regarding institutional preferences for neutral governance structures reflects legitimate concerns. XRP's corporate control model conflicts with institutional preferences for shared governance systems where no single entity can unilaterally change rules or economics. This governance preference explains why institutions gravitate toward cooperative structures like SWIFT or government-issued alternatives like CBDCs.

The criticism also accurately identifies XRP's limited ecosystem development compared to alternatives. The minimal DeFi adoption and developer activity suggest that XRP may be optimized for institutional payments at the expense of broader platform development. This narrow focus provides competitive advantage in specific use cases while creating vulnerability to more general-purpose blockchain platforms.

Zschach's argument that "compliance isn't about one company convincing regulators it should be allowed to operate" but rather "an entire industry agreeing on shared standards that no single balance sheet controls" articulates fundamental institutional preferences that blockchain advocates often underestimate. This perspective suggests that successful blockchain adoption requires industry-wide coordination rather than corporate-led innovation.

## The bias question: legitimate concerns or protectionism

Traditional finance criticism of blockchain contains elements of both legitimate concern and institutional protectionism. The regulatory emphasis on financial stability, consumer protection, and systemic risk management reflects genuine responsibilities that central banks and regulators must fulfill. Banking's central role in modern economies justifies conservative approaches to infrastructure changes that could affect economic stability.

Basel III's 1250% crypto asset risk weighting exemplifies potentially protectionist regulation that seems disproportionate compared to other asset classes. This requirement effectively prohibits bank cryptocurrency holdings regardless of individual asset characteristics or use cases, suggesting regulatory preference for existing systems rather than neutral technology evaluation.

However, many regulatory concerns reflect legitimate technical and operational challenges rather than simple protectionism. Blockchain's immutability conflicts with data privacy requirements, public ledgers create confidentiality challenges, and distributed consensus mechanisms complicate dispute resolution in ways that traditional systems handle more easily. These concerns require technical solutions rather than regulatory accommodation.

The institutional preference for proven systems over potentially superior alternatives reflects rational risk management rather than technological conservatism. Banking's fiduciary responsibilities and systemic importance justify conservative technology adoption even at the cost of efficiency improvements, particularly when those improvements come with operational complexity and regulatory uncertainty.

## FInal thoughts 

SWIFT's continued dominance despite acknowledged inefficiencies demonstrates how network effects, institutional relationships, and regulatory frameworks can override technical advantages in complex systems. The organization's 50-year head start created institutional dependencies that prove remarkably resistant to competitive pressure, even from technically superior alternatives.

XRP's struggles reflect the gap between technological capability and institutional requirements. While the XRP Ledger provides clear performance advantages over traditional payment systems, these benefits haven't overcome governance concerns, regulatory uncertainty, and the coordination challenges of competing with established network effects. Recent developments including regulatory clarity and technical enhancements provide opportunities for increased adoption, but institutional skepticism remains a significant barrier.

The future likely involves evolution rather than revolution, with blockchain technology enhancing rather than replacing existing financial infrastructure. SWIFT's blockchain integration experiments, stablecoin adoption by traditional financial institutions, and CBDC development suggest hybrid approaches that capture blockchain benefits while preserving institutional control and regulatory compliance.

This evolution reflects the conservative nature of financial institutions and their regulators, who prioritize stability and proven performance over efficiency and innovation. While this approach may limit the pace of technological advancement, it also protects the financial system from the operational risks that accompany revolutionary change. Understanding these institutional dynamics provides crucial context for evaluating both the potential and limitations of blockchain adoption in traditional finance.

The ultimate question isn't whether blockchain technology is superior to traditional payment systems - objective metrics suggest it often is - but whether these advantages justify the risks and costs of replacing functional infrastructure that serves the world's financial needs reliably, if not efficiently. Tom Zschach's criticism may overstate XRP's weaknesses, but his broader point about institutional preferences for neutral, shared governance structures captures fundamental dynamics that blockchain advocates ignore at their peril.6:[["$","$L13",null,{"id":"research/xrp-vs-swift-why-banks-choose-slow-traditional-system-over-ripples-lightning-speed script","type":"application/ld+json","dangerouslySetInnerHTML":{"__html":"$19"}}],["$","$L1a",null,{"article":{"id":1846,"slug":"xrp-vs-swift-why-banks-choose-slow-traditional-system-over-ripples-lightning-speed","content":"$1b","title":"XRP vs SWIFT: Why Banks Choose \"Slow\" Traditional System Over Ripple's Lightning Speed","author":{"id":97,"full_name":"Kostiantyn Tsentsura","slug":"kostiantyn-tsentsura","bio":"$undefined","profile_picture":"http://yellow-media-ymedia-strapi.ymedia-prod.svc.cluster.local:3000/uploads/kostya_14812554a1.jpg","email":"$undefined","social_links":[],"articles":[],"asset_articles":[],"learns":[],"researches":[],"locale":null,"localizations":[],"created_at":null,"updated_at":null},"description":"The epic battle between SWIFT's legacy empire and XRP's blockchain revolution. 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