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Major XRP Amendment in Serious Jeopardy

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Wed, 7/02/2024 - 16:30
Major XRP Amendment in Serious Jeopardy
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The XRP Ledger (XRPL) is facing a hurdle as the proposal for its Automated Market Maker (AMM) amendment has dropped below the required 80% consensus threshold. 

This setback could delay the anticipated introduction of a feature poised to revolutionize decentralized trading on the platform.

 Validators have withdrawn their support due to a recently discovered bug despite the amendment previously securing an 85.7% approval rate.

Significant concerns 

Prominent validators on the XRPL network, such as Vet and Daniel Keller, have rescinded their support due to a minor but significant bug affecting the AMM feature. 

Vet withdrew the support due to the potential damage to the community's image and the ledger's reputation, stating, "There is something we can and should improve... for the best launch of such a critical feature." 

Related

Similarly, Keller voiced strong reservations, stressing the importance of maintaining the network's integrity: "Releasing a feature with a known issue compromises the integrity of best practices and sets a dangerous precedent for future amendments," he stated. 

Both validators have called for a revised proposal, AMMv2, which would include necessary fixes before reconsideration.

A major amendment 

The AMM amendment promises to revolutionize XRPL by allowing users to create liquidity pools. t would enable decentralized trading and liquidity provision in a manner similar to other leading DeFi platforms. 

This update is seen by many as a significant leap forward for XRPL, aligning with the vision of the Internet of Value. 

However, the unfolding events underscore a critical debate within the XRPL community—balancing the drive for innovation against the imperative of network stability and trustworthiness.

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