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XRP Ledger's AMM Pools Face Tech Issue

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Sun, 24/03/2024 - 9:27
XRP Ledger's AMM Pools Face Tech Issue
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RippleX, the developer arm, has identified a discrepancy in a few automated market maker (AMM) pools, which has prevented transactions from executing properly.

Its engineering team is working to fix the issue together with community participants.

At the same time, RippleX has recommended its users not to deposit new funds into AMM pools for now. It has promised to provide timely updates for the community.

Major milestone for XRP Ledger

The AMM went live on the XRP Ledger mainnet on March 22 after two years. According to David Schwartz, the chief technology officer at Ripple, the AMM marked the start of a "longer road" from the initial rollout to future usage milestones.

As noted by Schwartz, the introduction of the AMM feature is a "significant moment" for XRP Ledger since it would make it possible to broaden the DeFi ecosystem and attract more liquidity.

Related

The AMM model allows ditching traditional order books by creating liquidity pools that determine the prices of assets based on certain algorithms. Some of the key features of AMM of XRPL include aggregated liquidity, continuous action mechanism and single-sided liquidity provision.

Main use cases

In his recent blog post, Schwartz outlined numerous use cases for the AMM feature: from financial applications (trading and yield farming) to various non-financial use cases (such as seamless asset swaps).

At the same time, the Ripple CTO has cautioned the community about the transactions being "novel and complex," which is why he is suggesting users not to shy away from submitting bug reports and coming up with their own suggestions.

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