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The XRP Ledger (XRPL) is set to undergo a major amendment as part of its move to enhance the layer-1 network. Per the details shared by XRPScan, the AMMClawback amendment will enable token issuers to retrieve assets in defined circumstances.
XRPL's key changes and compliance enhancements
Notably, these are tokens that have been deposited into AMM pools. The goal is to ensure regulatory compliance.
Gamza KhanzadaevAlthough the current arrangement allows a frozen asset in the AMM pool to receive deposits, the new amendment prohibits such. A wallet cannot deposit new tokens (single-sided and double-sided) into an AMM pool if one of the tokens in the wallet has been frozen.
Another notable amendment concerns asset authorization. Any account not authorized to hold a token in the AMM pool can still make a single deposit of the other paired token. The only condition attached is that the paired token must have authorization for the token.
However, the amendment prevents a wallet from depositing new tokens into the pool if it is not authorized to hold either or both tokens.
Other notable clauses include the fact that an account can create an AMM pool even if one of the tokens has activated lsfAllowTrustLineClawback. It also introduces changes to the behavior of AMMDeposit transactions.
Community consensus and XRPL’s evolution
As of this writing, the amendment has achieved 91.43% consensus, with 28 out of the 35 votes giving it the green light. Per the explorer, the ETA for this upgrade is 7:37 p.m. UTC.
This allows the XRPL community to anticipate new guidelines for optimum platform functionality.
Vladislav SopovAs reported by U.Today in October, XPRL performed a similar amendment on its fixAMMv1_1 as part of an ongoing effort to improve the ledger.
Meanwhile, XRPL recently announced it was set to welcome tokenized versions of U.S. treasuries, a function of the proactive upgrades on the ledger. Ondo Finance offers these, allowing investors to redeem Ondo Finance’s OUSG via the newly launched RLUSD.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Gamza Khanzadaev
Vladislav Sopov
Dan Burgin