RippleX, the development arm, has identified a discrepancy in some automated market maker (AMM) groups, which has prevented trades from being executed correctly.
RippleX, the development arm, has identified a discrepancy in some automated market maker (AMM) groups, which has prevented trades from being executed correctly.
Its engineering team is working to fix the issue alongside community participants.
At the same time, RippleX has recommended its users not to deposit new funds into MMA pools for now. It has promised to provide timely updates to the community.
Important milestone for XRP Ledger
The AMM went live on the XRP Ledger mainnet on March 22 after two years. According to David Schwartz, Ripple’s chief technology officer, the AMM marked the start of a “longer path” from the initial launch to future usage milestones.
As Schwartz noted, the introduction of the AMM feature is an “important moment” for XRP Ledger as it would allow it to expand the DeFi ecosystem and attract more liquidity.
The AMM model makes it possible to get rid of traditional order books by creating liquidity pools that determine asset prices based on certain algorithms. Some of the key AMM features of XRPL include aggregated liquidity, rolling action mechanism, and unilateral 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 exchanges).
At the same time, Ripple’s CTO warned the community that the transactions are “novel and complex,” suggesting users not to shy away from submitting bug reports and submitting their own suggestions.
