Glossary
The words OpenWallet and the XRP Ledger use, in plain language.
- 24 words
- Your wallet's recovery phrase (BIP-39). You do not have to keep it once your wallet is protected, but anyone who has it can take the wallet.
- Account reserve
- XRP the XRP Ledger keeps locked while an account exists: 1 XRP, plus 0.2 XRP for each token the account holds.
- Agent wallet
- A separate account you fund for an AI app, with limits it cannot raise.
- AMM
- Automated market maker: a pool on the XRP Ledger that trades two assets. OpenWallet uses them to price tokens.
- Authenticator app
- An app that shows a 6-digit code changing every 30 seconds. Part of every OpenWallet ID sign-in.
- Clawback
- An issuer's power to take its token back from a holder. Ripple has it for RLUSD.
- Connection code
- The 8-character code an AI app's OpenWallet page shows you, which you check in the extension to approve the connection.
- Destination tag
- A number that tells a shared account, usually an exchange, which customer a payment is for.
- Drops
- The smallest unit of XRP. 1 XRP is 1,000,000 drops.
- Family seed
- An older XRP Ledger secret that starts with s. It holds one key and cannot make agent wallets.
- Freeze
- An issuer's power to stop its token from moving.
- Issuer
- The account that creates a token. Its address, not the token's name, says who stands behind it.
- Mainnet, Testnet, Devnet
- The XRP Ledger's main network, and two test networks whose XRP has no value.
- MCP
- Model Context Protocol: how AI apps connect to tools. OpenWallet has a remote MCP server and a desktop one.
- Network fee
- A tiny amount of XRP spent with every transaction, about 0.00001 XRP.
- OpenWallet ID
- The sign-in that protects your wallet: Google or email, plus an authenticator app.
- Pause link
- The link in a recovery email. It adds 7 days to a recovery, once, and can do nothing else.
- Recovery code
- The code, 8 groups of 4 characters, that unlocks your Recovery Kit. Shown once.
- Recovery Kit
- A small file holding one of your wallet's three parts, locked by your recovery code.
- RLUSD
- Ripple USD, a US dollar stablecoin issued by Ripple.
- Self-custodial
- Only you hold the keys. Nobody else, including OpenWallet, can move your funds.
- Transfer fee
- A share of every transfer between holders that an issuer can keep.
- Trust line
- Your account's permission to hold a token from one issuer. Each locks 0.2 XRP.
- x402
- An open standard for paying for web requests: a server answers 402 Payment Required with a price, and the client pays and asks again.
- XRP Ledger
- The public blockchain OpenWallet supports. XRP is its own currency.