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XRPL validator Vet hints at a major turning point for the XRP-native DEX once it is bootstrapped with high-quality assets and deep liquidity.
"Once we bootstrap the XRP native DEX with high quality assets and deep liquidity, it’s game over," Vet said in a recent tweet.
The XRP Ledger has possibly one of the world's oldest decentralized exchanges (DEX), operating continuously since the XRPL's inception in 2012. The exchange allows users to buy and sell tokens for XRP or other tokens, with minimal fees charged to the network itself (not paid out to any party).
The XRP Ledger has had a single, open DEX since it launched. Anyone with an XRPL account can trade in this DEX, and the system automatically executes matching orders, also called offers, with no regard for who placed them. Orders also provide liquidity to cross-currency payments, which can potentially execute several trades as part of one atomic transaction.
XRP Lending Protocol awaited
Vet names the much-awaited XRP Lending Protocol as part of the bootstraping of the XRP-native DEX. XRPL version 3.1.0 introduced the lending protocol, which is currently being voted upon.
The lending protocol is an XRP Ledger DeFi primitive that enables on-chain, fixed-term, uncollateralized loans using pooled funds from a Single Asset Vault. The protocol enables loan brokers to easily tune risk appetite, depositor protections and economic incentives.
XRPL developers rebuild repository fundamentals
XRP Ledger developer Denis Angell revealed excitement for the XRP Ledger core development, although this has nothing to do with new features or even AI. Angell revealed that, currently, XRPL core developers have been hard at work rebuilding the fundamentals of the repository.
Six focus areas, which are currently being worked on, were outlined by Angell. These include telemetry, nomenclature, type safety, refactor, logging and documentation.
Dan Burgin
U.Today Editorial Team
Vladislav Sopov
