{"id":30673,"date":"2023-10-07T10:57:49","date_gmt":"2023-10-07T14:57:49","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=30673"},"modified":"2023-10-07T10:57:49","modified_gmt":"2023-10-07T14:57:49","slug":"when-are-amms-coming-to-xrp-ledger-ripple-cto-gives-clear-answer","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/10\/07\/when-are-amms-coming-to-xrp-ledger-ripple-cto-gives-clear-answer\/","title":{"rendered":"When Are AMMs Coming To XRP Ledger? Ripple CTO Gives Clear Answer"},"content":{"rendered":"

Following the announcement<\/a> 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\u2019s<\/a> Chief Technology Officer (CTO) David Schwartz<\/a> has provided some answers to the community to quench speculations.<\/p>\n

How Soon The AMM Implementation Could Happen\u00a0\u00a0<\/h2>\n

In response to a tweet<\/a> asking how soon the AMM will go live on the ledger after voting, Schwartz stated that it should be enabled on the XRP Ledger<\/a> (XRPL) \u201cin about two weeks\u201d if most validators vote yes to the proposal.\u00a0\u00a0<\/p>\n

The voting process kickstarted on September 7 following the announcement<\/a> by Ripple\u2019s developers. However, it seems that validators haven\u2019t 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<\/a> need to vote yes for the amendment to be passed.\u00a0<\/p>\n

He further gave his opinion on how the process should go, as he believes \u201cvalidators shouldn\u2019t vote yes individually.\u201d Rather, the decision should lie with the community<\/a>, with the validators voting in favor of the amendment if they \u201cbelieve\u201d the community supports it.\u00a0<\/p>\n

Contrary to what many may think, the amendment process isn\u2019t \u201csupposed to be a governance mechanism,\u201d according to Schwartz. Instead, the aim of the voting process is to \u201ccoordinate activation and prevent activation if a problem is discovered.\u201d He emphasized that validators should be guided by the community\u2019s decision, not what \u201cthey think is best.\u201d<\/p>\n\n

Schwartz\u2019s Role In Ensuring Amendment Is Passed<\/h2>\n

In a subsequent tweet<\/a>, the Ripple CTO mentioned that he was going to review the performance testing results<\/a> in the next few days and run a \u201cfew code checks\u201d using feedback that he had gotten from several people. If everything works out fine and no \u201cnew objections surface,\u201d Schwartz mentioned that he will \u201cstart asking people to consider voting yes.\u201d<\/p>\n

1\/ Extensive performance testing of the XLS-30 #AMM<\/a> has now been completed.<\/p>\n

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<\/a>.https:\/\/t.co\/Cz1w76uc8c<\/a><\/p>\n

\u2014 RippleX (@RippleXDev) October 6, 2023<\/a><\/p>\n

Meanwhile, Ripple\u2019s developers confirmed in a tweet<\/a> that they have completed the extensive performance testing of the AMM feature. If adopted, this AMM functionality will bring \u201cautomated swap, trading, and liquidity provisioning capabilities to the ledger.\u201d Community members also have a chance to earn passive income by acting as liquidity providers (LPs) to the ecosystem.\u00a0<\/p>\n

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<\/a> and enhance faster and seamless trading.\u00a0<\/p>\n

However, the same cannot be said about the \u2018Clawback feature<\/a>,\u2019 another proposed amendment under the latest rippled version. Despite Schwartz defending the feature<\/a>, many in the community argue that it undermines the essence of blockchain technology and decentralization.<\/p>\n

Featured image from CoinCodex<\/em><\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Following the announcement<\/a> 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\u2019s<\/a> Chief Technology Officer (CTO) David Schwartz<\/a> has provided some answers to the community to quench speculations.<\/p>\n

How Soon The AMM Implementation Could Happen\u00a0\u00a0<\/h2>\n

In response to a tweet<\/a> asking how soon the AMM will go live on the ledger after voting, Schwartz stated that it should be enabled on the XRP Ledger<\/a> (XRPL) \u201cin about two weeks\u201d if most validators vote yes to the proposal.\u00a0\u00a0<\/p>\n

The voting process kickstarted on September 7 following the announcement<\/a> by Ripple\u2019s developers. However, it seems that validators haven\u2019t 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<\/a> need to vote yes for the amendment to be passed.\u00a0<\/p>\n

He further gave his opinion on how the process should go, as he believes \u201cvalidators shouldn\u2019t vote yes individually.\u201d Rather, the decision should lie with the community<\/a>, with the validators voting in favor of the amendment if they \u201cbelieve\u201d the community supports it.\u00a0<\/p>\n

Contrary to what many may think, the amendment process isn\u2019t \u201csupposed to be a governance mechanism,\u201d according to Schwartz. Instead, the aim of the voting process is to \u201ccoordinate activation and prevent activation if a problem is discovered.\u201d He emphasized that validators should be guided by the community\u2019s decision, not what \u201cthey think is best.\u201d<\/p>\n

Schwartz\u2019s Role In Ensuring Amendment Is Passed<\/h2>\n

In a subsequent tweet<\/a>, the Ripple CTO mentioned that he was going to review the performance testing results<\/a> in the next few days and run a \u201cfew code checks\u201d using feedback that he had gotten from several people. If everything works out fine and no \u201cnew objections surface,\u201d Schwartz mentioned that he will \u201cstart asking people to consider voting yes.\u201d<\/p>\n

1\/ Extensive performance testing of the XLS-30 #AMM<\/a> has now been completed.<\/p>\n

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<\/a>.https:\/\/t.co\/Cz1w76uc8c<\/a><\/p>\n

\u2014 RippleX (@RippleXDev) October 6, 2023<\/a><\/p>\n

Meanwhile, Ripple\u2019s developers confirmed in a tweet<\/a> that they have completed the extensive performance testing of the AMM feature. If adopted, this AMM functionality will bring \u201cautomated swap, trading, and liquidity provisioning capabilities to the ledger.\u201d Community members also have a chance to earn passive income by acting as liquidity providers (LPs) to the ecosystem.\u00a0<\/p>\n

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<\/a> and enhance faster and seamless trading.\u00a0<\/p>\n

However, the same cannot be said about the \u2018Clawback feature<\/a>,\u2019 another proposed amendment under the latest rippled version. Despite Schwartz defending the feature<\/a>, many in the community argue that it undermines the essence of blockchain technology and decentralization.<\/p>\n

Featured image from CoinCodex<\/em><\/p>\n

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