Automated Market Maker Platform Approved for XRP Ledger
A proposal for the introduction of a built-in automated market maker trading platform into the XRP Ledger has reached the consensus threshold to be approved, allowing trading and income generation on-chain for XRP token holders.
XLS-30 Amendment Approved through Data from XRP Ledger Explorer
Data from XRP Ledger explorer XRPScan shows that the XLS-30 amendment has received the approval of 30 network validators, including Ripple, Bithomp, Bitrue, Vet, and Alloy Networks, to be implemented on the network.
Automated Market Maker Platform Activation Set for February 14
The approval for the automated market maker platform, which will be activated on February 14, was first noticed by a prominent member of the XRP community, Vet.
Promotion of Permissionless Trading through Liquidity Pools
The new platform will promote permissionless trading for XRP token holders through liquidity pools instead of traditional order books, using tokens supplied by liquidity providers to settle trades.
Risks and Rewards for Liquidity Providers
By contributing liquidity to the pools, you can benefit from revenue every time a trade is conducted using that pool. However, this revenue comes with the risk of impermanent loss, when price fluctuations alter the ratio of the tokens within the pool and just holding those tokens would have been more profitable.
Recovery of Stolen Funds from Personal XRP Accounts
Ripple Chairman Chris Larsen has confirmed that over $120 million worth of the XRP token were taken from personal accounts, but he did not confirm the specific amount. It was traced to various cryptocurrency trading platforms, but law enforcement is involved and exchanges were notified to freeze the affected addresses.
Hot Take: Community Reactions and Analysis of AMM Approval and Stolen Funds
The approval of the automated market maker platform and the recovery efforts of stolen funds have sparked differing reactions in the community, highlighting opportunities and risks for XRP token holders and the need for security measures to safeguard crypto assets.
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