Ripple’s Latest Update: Passive Income Opportunities for XRP Holders
– Ripple is set to release rippled version 1.12, bringing new advancements to the XRP Ledger.
– The update includes the introduction of an automated market maker (AMM) called XLS-30.
– XRP holders will have the opportunity to earn passive income on-chain for the first time.
– The AMM allows traders to buy and sell crypto assets directly through the liquidity pool.
– XRP holders can act as liquidity providers and earn trading fees based on the level of liquidity provided.
XRPL’s Potential as a Major DeFi Player
– The AMM functionality can expand XRPL’s use case and establish it as a significant player in DeFi.
– The AMM allows liquidity to flow easily to all projects built in the ecosystem.
– Developers can integrate the AMM functionality into their platforms, eliminating liquidity bootstrapping.
– More projects in the ecosystem can increase the demand for the XRP token.
– Daily transactions on the XRP Ledger may see a significant spike once the proposal is approved.
Hot Take
Ripple’s upcoming release of rippled version 1.12 and the introduction of an AMM functionality bring exciting opportunities for XRP holders. This update not only allows passive income on-chain but also positions XRPL as a major player in the DeFi landscape. The integration of AMM functionality makes it easier for developers to build on the XRPL ecosystem and attracts more projects, potentially driving up demand for XRP. If approved, this proposal could lead to a surge in daily transactions on the XRP Ledger, further solidifying Ripple’s position in the crypto market.
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