The long-awaited Automated Market Maker (AMM) feature is available on XRP Ledger (XRPL) and accompanying it are liquidity pools showing increasing adoption of the new feature. According According to an update from XRPScan, these liquidity pools have surpassed the 1,000 milestone with an extensive list of assets housed in private pools.
The long-awaited Automated Market Maker (AMM) feature is available on XRP Ledger (XRPL) and accompanying it are liquidity pools showing increasing adoption of the new feature. According According to an update from XRPScan, these liquidity pools have surpassed the 1,000 milestone with an extensive list of assets housed in private pools.
According to the data, one of the largest liquidity pools presents the XRP/XCASH pair with the AMM account identified as “rUCLr….ABx6D” and a balance of 273,184,692.307334 LPToken. The ongoing innovations at XRP Ledger with the launch of the AMM feature underline the long-term desire for this product.
The AMM now positions the XRP Ledger as a positive destination for decentralized exchanges (DEX) and other decentralized finance (DeFi)-related innovations. Despite being ranked as one of the most versatile Layer 1 blockchain networks, the lack of key features like AMM has kept it behind its key peers.
Ripple CTO David Schwartz also acknowledged the launch of the AMM feature, an innovation developed for approximately two years. While he hopes to see the impact on traders and innovators, the veteran warned users to be careful when trading AMM.
Beginning of many milestones to come
The ultimate ambition of
Before the launch of AMM on the mainnet, some key fixes such as the clawback amendment were also released. This feature allows for the recovery of funds in cases where fraud or other events require the recovery of funds from wallets.
This feature serves as an insurance card for innovators, especially those who may now be using the new AMM update to create trading engines.
