Ripple’s XRP Team Introduces Automated Market Maker Ledger Amendment for Community Voting
Ripple’s XRP team has announced that the proposed Automated Market Maker (AMM) ledger amendment XLS-30 for 2022 is now open for community voting on the mainnet. The XLS-30 technical specification aims to create a native AMM protocol integrated with the orderbook-based decentralized exchange on the XRP Ledger (XRPL).
This announcement follows the recent notification by the Ripple development team about several updates on the XRPL awaiting community approval. The XLS-30d protocol allows application developers to design user interfaces for traders and liquidity providers, offering predefined functions. It also introduces an innovative auction mechanism that incentivizes arbitrageurs, minimizing the impact of impermanent loss on liquidity providers.
The XRPL’s AMM implementation utilizes Federated Consensus and canonical transaction ordering, making it less vulnerable to Miner Extractable Value (MEV) and front-running attacks. It also simplifies user experiences by providing single-sided liquidity.
By incorporating XLS-30d, users can enjoy enhanced security and streamlined trading capabilities, making it suitable for various applications in the digital asset space.
Hot Take: Ripple’s XRP Introduces AMM Protocol on XRPL for Enhanced Trading
Ripple’s XRP has introduced the Automated Market Maker (AMM) protocol on the XRP Ledger (XRPL), bringing enhanced trading capabilities to users. The proposed AMM ledger amendment XLS-30 is now open for community voting on the mainnet. This technical specification enables the creation of a native AMM protocol seamlessly integrated with the decentralized exchange on XRPL.
The introduction of the XLS-30d protocol empowers application developers by providing predefined functions for designing user interfaces for traders and liquidity providers. It also includes an innovative auction mechanism that incentivizes arbitrageurs, minimizing the impact of impermanent loss on liquidity providers.
The AMM implementation on XRPL leverages Federated Consensus and canonical transaction ordering, making it more secure against Miner Extractable Value (MEV) and front-running attacks. Additionally, it simplifies user experiences with single-sided liquidity.
By incorporating XLS-30d, users can benefit from enhanced security and streamlined trading, making XRPL an attractive choice for various digital asset applications.
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