- XRP developers of the Toast Wallet are calling it quits citing ‘abysmal treatment by Ripple” as the reason for leaving the project.
- Launched in early 2017, the closure of Toast Wallet is heavily linked with the investment arm or Ripple, Xpring, looking over the wallet in its funding over the years.
The short tweet on its official page, Toast Wallet, XRP wallet that allows users to buy, sell and safely store their digital assets, will be shutting down due to the “abysmal treatment of community developers.”
As of June 22, 2020, the Toast App will no longer be available on mobile application stores denying access to additional users. The tweet reads:
Thanks for all the replies. Toast is shutting down. Please move to another wallet. The source code will remain here https://t.co/B4DSWtkgXh
— Toast Wallet (@ToastWallet) June 18, 2020
The existing users’ wallets will be functional for a short time as users withdraw their assets to other wallets. The company has also given assurances to the safety of user assets.
“Existing Toast installs will continue to work, and funds are safe. We await a clear and transparent community developer support program from Xpring.”
The mention of Xpring in Toast’s tweet raises suspicion on whether the Ripple owned investment company had something to do with the wallet’s collapse. XRP Arcade, a crypto news publication, cites unnamed sources that claim the Xpring development fund did not extend to Toast, which led to its failure.
The remaining action is for users to send their XRP assets to other wallets quickly.
Send Users Xumm’s way
Toast Wallet has requested that users start migrating their assets to different XRP compatible wallets before the wallet is completely shut down.
Despite the dark cloud hovering above Toast Wallet’s open source project, Wietse Wind, one of XRP’s leading developers, took this opportunity to grab some of the users to choose his Xumm crypto wallet. After passing his graces, Wind wrote:
“I’d like to share the procedure to migrate from Toast to XUMM. I don’t want to come across as a vulture: I’m sorry to gain XUMM users this way.”
The open-source code will remain on the Toast Wallet GitHub page.