Ripple CTO Proud to Announce Crucial New Feature on XRPL Which Benefits RLUSD
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In a recently published tweet, David Schwartz, the chief technology officer (CTO) at Ripple has highlighted the release of the AMMClawback Amendment on the XRPL mainnet. Retweeting a post by XRPscan about this launch, Schwartz commented: “Woohoo!!”
The launch of this feature opens a wide range of opportunities for the recently launched Ripple USD (RLUSD) stablecoin.
AMMClawback amendment goes live on XRPL
The release of this feature means that now, tokens issued with Clawback enabled on them can be used on the native AMM (automated market maker) running on the XRP Ledger. An AMM is a system that enables users to conduct decentralized trading by providing liquidity pools, which let users exchange tokens automatically.
Thanks to the “Clawback” feature within this amendment, token issuers can reclaim (“claw back”) their tokens when certain conditions arise after they have sent them to another account or used them in AMM pools.
Yuri MolchanHere's what's in store for RLUSD
This AMMClawback Amendment has gone live on the XRPL mainnet after being approved by the necessary consensus of validators. Instead of running on a test network, it has been embedded into the public version of the XRP Ledger.
This new feature gives issuers much more control over their tokens — this is very important for regulatory compliance, particularly when it concerns illegal activities or if tokens are sent to unauthorized wallets. That means that an extra layer of security has been added.
The recently launched Ripple USD (RLUSD) stablecoin can also be used within AMM pools on XRP Ledger DEXes (decentralized exchanges), and the asset could see its liquidity and trading opportunities heavily boosted. Prior to this amendment’s launch, RLUSD could not be used in those liquidity pools.
The XRP community has been widely looking forward to the launch of this AMMClaback amendment — that much was clear from the reactions of the XRP army posted in the comments under the tweet. Particularly, many users are excited about a wider range of opportunities that the RLUSD/XRP pair will embrace now, including liquidity. The community believes that this launch is yet another step toward XRP Ledger becoming a leading platform for DeFi applications.
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.
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