Crypto Analytics Firm Santiment Introduces Free Metrics for XRP Ledger
Santiment, a crypto analytics firm, has recently launched a range of free metrics for the XRP Ledger (XRPL). These metrics cover on-chain, social, and developmental indicators and are used by Ripple itself. Santiment also plans to include metrics related to the XLS-30 Automated Market Maker (AMM) upon its launch.
The XLS-30 Proposal Aims to Introduce Non-Custodial AMMs on XRPL
The XLS-30 proposal, created by Dr. Aanchal Malhotra and David Schwartz, aims to introduce non-custodial AMMs as a native feature on XRPL’s decentralized exchange. This proposal allows liquidity providers to earn a significant share of profits that would typically go to arbitrageurs. By auctioning off trading advantages to arbitrageurs and charging them fees, liquidity providers benefit from increased returns.
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AMM Instances in the XLS-30 Proposal Enhance Returns for Liquidity Providers
The AMM instances in the XLS-30 proposal charge trading fees that are added to the capital pool, increasing returns for liquidity providers. The largest shareholders are granted governance rights within the AMM instances, allowing them to vote on trading fees.
Seamless Interaction Between XRPL’s AMMs and Limit Order Book DeX
The XLS-30 proposal aims for seamless interaction between XRPL’s AMM-based and limit order book-based decentralized exchanges. This ensures users have access to all order flows and liquidity on both platforms, allowing for optimal pricing.
Inclusion of XLS-30 Feature Depends on Final Release Approval
The inclusion of the XLS-30 feature in the rippled software’s 1.12 release is scheduled for September 11, 2023. Approval by all active XRPL-UNL validators is required before it can be enacted on the XRPL blockchain.
Santiment’s AMM-Related Metrics Align with XLS-30 Advancements
Santiment’s upcoming AMM-related metrics aim to provide cutting-edge research tools that align with the advancements proposed in the XLS-30 proposal. This reaffirms the platform’s commitment to transparency and comprehensive data.
Current XRPL Metrics Offered by Santiment
Currently, Santiment offers six XRPL chain metrics, including holder metrics such as the number of accounts and number of new accounts created, as well as activity metrics like DEX volume in USD, number of transactions, number of assets issued, and number of active trustlines.
Hot Take: Santiment Empowers XRPL Users with Comprehensive Data
Santiment’s introduction of free metrics for the XRP Ledger demonstrates their commitment to empowering XRPL users. By providing comprehensive data and cutting-edge research tools, Santiment enhances transparency and enables users to make informed decisions in the crypto market.
