XRP Ledger Upgrade and Latest Amendment
Recently, according to a post by XRPScan, the XRP Ledger (XRPL) explorer, the validator has been upgraded to version 2.1.1. This upgrade has paved the way for the introduction of the first amendment, known as โfixAMMOverflowOffer,โ for the Automated Market Maker (AMM) on the XRPL ecosystem.
XRP Ledger AMM and the fixAMMOverflowOffer Amendment
The XRP Ledger AMM is currently undergoing a voting session for the fixAMMOverflowOffer amendment. This amendment specifically addresses the improper handling of large synthetic AMM offers within the payment engine. It is considered a crucial fix by XRPL, with the default vote set to YES within the source code until the final voting results are determined.
- The fixAMMOverflowOffer amendment aims to address large synthetic AMM offers
- Default vote within source code set to YES pending final voting results
For the proposal to pass, a minimum of 80% of validators must vote YES for the AMM fix amendment, requiring at least 28 out of the 35 validators to support it. Currently, there have been 20 YES votes and 15 NAY votes received.
- At least 80% YES votes needed for the amendment to pass
- 20 YES votes and 15 NAY votes received so far
The introduction of this amendment follows the recent launch of the XRP Ledger AMM feature. This feature, which had been in development for about a year, has now become a reality on the XRPL after undergoing multiple modifications and enhancements by developers affiliated with Ripple Labs.
Multiple Amendments on the XRPL
The fixAMMOverflowOffer amendment is just one of several recent amendments introduced on the XRP Ledger AMM engine and blockchain. Another significant amendment, the Clawback feature, particularly in its version 1.12.0, was implemented on the mainnet last month after receiving 33 YES votes out of 35, totaling 94.3% approval.
- Clawback amendment received 94.3% approval on mainnet
- Allows developers to reverse token transactions in specific situations
Aside from the Clawback feature, other recent amendments include fixNonFungibleTokensV1_2, fixTrustLinesToSelf, fixUniversalNumber, and ImmediateOfferKilled. These amendments aim to enhance various aspects of the XRPL ecosystem and improve its functionality.
Despite these positive improvements, the RippleX team continues to address recent glitches affecting AMM pools on the XRP Ledger. These technical challenges have disrupted transaction operations within the associated pools, prompting the RippleX technical team to identify and resolve specific mismatches in a limited number of AMM pools on the XRPL.
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Hot Take: The Future of XRP Ledger and AMM Enhancements
As the XRP Ledger undergoes crucial upgrades and introduces amendments like fixAMMOverflowOffer, the future looks promising for the XRPL ecosystem. With a strong focus on enhancing functionality and addressing technical challenges, the XRPL continues to evolve to meet the growing needs of its users and stakeholders.
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