When Are AMMs Coming To XRP Ledger? Ripple CTO Gives Clear Answer
October 07 2023 - 6:30AM
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Following the announcement that the AMM functionality would be
proposed as an amendment under the latest rippled version, many in
the XRP community have continued to wonder how soon it could be
implemented if passed. As a result, Ripple’s Chief Technology
Officer (CTO) David Schwartz has provided some answers to the
community to quench speculations. How Soon The AMM Implementation
Could Happen In response to a tweet asking how soon the
AMM will go live on the ledger after voting, Schwartz stated that
it should be enabled on the XRP Ledger (XRPL) “in about two weeks”
if most validators vote yes to the proposal. The voting
process kickstarted on September 7 following the announcement by
Ripple’s developers. However, it seems that validators haven’t
looked through the proposal yet or taken action. To the best of his
knowledge, Schwartz mentioned that no validator has voted yes to
the proposal yet, and 80% of validators need to vote yes for the
amendment to be passed. Related Reading: Dogecoin Under
Pressure: Will Bearish Momentum Push Meme Coin Below $0.06? He
further gave his opinion on how the process should go, as he
believes “validators shouldn’t vote yes individually.” Rather, the
decision should lie with the community, with the validators voting
in favor of the amendment if they “believe” the community supports
it. Contrary to what many may think, the amendment process
isn’t “supposed to be a governance mechanism,” according to
Schwartz. Instead, the aim of the voting process is to “coordinate
activation and prevent activation if a problem is discovered.” He
emphasized that validators should be guided by the community’s
decision, not what “they think is best.” Bitcoin approaching the
$28K level on the weekly chart: TradingView.com Schwartz’s Role In
Ensuring Amendment Is Passed In a subsequent tweet, the Ripple CTO
mentioned that he was going to review the performance testing
results in the next few days and run a “few code checks” using
feedback that he had gotten from several people. If everything
works out fine and no “new objections surface,” Schwartz mentioned
that he will “start asking people to consider voting yes.” 1/
Extensive performance testing of the XLS-30 #AMM has now been
completed. XLS-30 is a proposed amendment as part of the rippled
1.12.0 upgrade. If adopted, it will bring automated swap, trading,
and liquidity provisioning capabilities to the
#XRPLedger.https://t.co/Cz1w76uc8c — RippleX (@RippleXDev) October
6, 2023 Meanwhile, Ripple’s developers confirmed in a tweet that
they have completed the extensive performance testing of the AMM
feature. If adopted, this AMM functionality will bring “automated
swap, trading, and liquidity provisioning capabilities to the
ledger.” Community members also have a chance to earn passive
income by acting as liquidity providers (LPs) to the
ecosystem. Related Reading: Trillions In Shiba Inu On The
Move: What Lies Ahead For The Meme Coin? Many in the XRP community
seem to have welcomed the idea of a novel AMM feature on the XRPL,
as it could help improve liquidity on the network and enhance
faster and seamless trading. However, the same cannot be said
about the ‘Clawback feature,’ another proposed amendment under the
latest rippled version. Despite Schwartz defending the feature,
many in the community argue that it undermines the essence of
blockchain technology and decentralization. Featured image from
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