Growing Consensus Among Validators
According to XRPL blockchain explorer XRPScan’s data, the XLS-30D Automated Market Maker (AMM) Amendment has achieved a 60% approval rate, with 21 validators now endorsing the amendment. This marks a significant increase from the previous rate of 16 yes and 18 no votes on December 7. This growth in support reflects a positive outlook for the XRP Ledger community.
The AMM Amendment offers potential for XRP holders by providing an opportunity for passive income. It integrates Automated Market Maker functionality into the XRPL and enables users to contribute liquidity to decentralized exchanges, earning a proportionate share of profits with associated exchange risk.
The amendment introduces a liquidity staking pool where XRP holders can actively participate, securing assets and receiving liquidity pool tokens. Holders can vote on the AMM’s trading fee based on their share of LP assets.
Community Interest and Security
Community enthusiasm for engaging with AMM liquidity provider services has been evident, with 75% of respondents in a Stedas poll expressing a willingness to participate. The successful implementation of smart contract functionality, dependent on an 80% validator endorsement, could open doors for XRP holders to diversify their earnings.
Despite concerns about potential drawbacks, the XLS-30D code base has received an impressive security score of 95/100 after undergoing a thorough audit by security firm CertiK. This score provides assurance as the XRPL AMM Amendment gains increasing consensus and potential approval, offering hopes for new opportunities to generate passive income in the XRP community.
Hot Take
As the XRPL AMM Amendment garners wider support and nears potential approval, it brings hope to the XRP community for new avenues to generate passive income. With an increasing consensus among validators and a growing interest from the community, the AMM Amendment appears to offer promising prospects for XRP holders. As it advances, it may present opportunities for individuals to diversify their earnings and play a more active role in the XRPL ecosystem.
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