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- Ripple’s XRP Ledger introduces an Automated Market Maker (AMM) amendment, enhancing its functionality and integration with the existing decentralized exchange.
- XRP holders will have the possibility to earn passive income through the new AMM feature by providing liquidity and voting on trading fees in the future.
The recent amendment to the XRP Ledger, known as the Automated Market Maker (AMM) Amendment, represents a significant upgrade by integrating automated market maker functionality directly into the XRP Ledger. This integration is seamlessly connected with Ripple’s existing decentralized exchange, offering new opportunities for XRP holders. The following video delves into the details of the proposed amendment.
In a recent tweet, Panos Mekras, the founder of Anodos Finance, shared his insights on the growing support for the XLS-30D AMM Amendment among XRPL validators. At the time of his report, 20 validators had voted in favor of the amendment, achieving a notable consensus of 57.14%.
20 UNL validators are now voting Yes on the #XRPL AMM amendment. We are getting closer. https://t.co/2JR5mdf6av pic.twitter.com/MbULZDzSJw
— Panos 🔼{X} (@panosmek) January 22, 2024
One of the innovative features of this amendment is that each AMM instance will have a dedicated account to safeguard its assets. This setup allows the issuance of liquidity pool (LP) tokens to liquidity providers, which are allocated in proportion to their contributions. Additionally, XRP liquidity providers now have the privilege to vote on the AMM’s trading fee, influenced by their share of LP assets.
Elaborating further, I have discussed in my tweet how this amendment can be leveraged to convert XRP holdings into a source of passive income. The XLS-30D AMM Amendment proposes a pivotal update to the XRP Ledger protocol, aiming to integrate sophisticated automated market maker functionalities.
🚀🌟 Exciting #Ripple News for the #XRP Army! 🌟🚀
The XRP Ledger is buzzing with excitement as the XLS-30D AMM Amendment gains massive support from validators! With 60% consensus now, it's time for XRP holders to turn their holdings into a source of passive income. 🤑💰The… pic.twitter.com/Gc5CobRfAO
— Marcel Knobloch aka Collin Brown (@CollinBrownXRP) January 25, 2024
Regarding the market performance, the latest data as shown below indicates that XRP is currently trading at approximately $0.5132.
This figure reflects a minor decline of 0.70% over the last 24 hours, following an 8.78% decrease over the preceding week.
