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The XRP community became very excited after David Schwartz, the chief technology officer (CTO) of blockchain payments firm Ripple Labs Inc., revealed his favorite XRPL feature. The highly vocal Ripple executive tagged the XLS-30 Automated Market Maker (AMM) as the best feature on the company's smart contract hub.
Alex DovbnyaAway from its core role as a payment infrastructure service provider, Ripple is also making a pivotal switch to bolster its XRPL protocol in a bid to help onboard as many users to drive the overall utility of the XRP innovations. Schwartz's favorite feature is introducing a series of amendments that are now up for voting, according to an update from the RippleXDev X account.
According to the update, the community is now asked to vote in order to bring the feature to the XRPL mainnet. As detailed, the XLS-30 protocol will take a minor detour from its peers with its "novel Continuous Auction Mechanism that incentivizes arbitrageurs to bid for mispricing opportunities and effectively reduces the effects of impermanent loss for liquidity providers (LPs)."
If the amendments up for voting pass, XLS-30 will make history as the first AMM on the XRPL.
Why is XLS-30 special to Schwartz?
With the revelation that the XLS-30 AMM is his favorite feature on XRPL, community members have been asking what makes the trading engine protocol unique to the Ripple CTO. While he has not actually given a definitive response, speculations revolve around the fact postulated by one XRP community member, @CallofLiquidity.
Tomiwabold OlajideAccording to him, the fact that the AMM can herald stable liquidity without the fear of the loss of assets makes XLS-30 pivotal to achieving Ripple's overall goal. This is not entirely far from reality as XRPL has welcomed many updates surrounding NFTs and other innovations on the platform.
Gamza Khanzadaev
Tomiwabold Olajide
Dan Burgin
Alex Dovbnya
Vladislav Sopov