Mar 25, 2024 2:57:33 AM ET
Ripple (XRP) development arm RippleX has confirmed technical issues impacting transactions in the XRP Ledger automated market maker pool.
RippleX discloses technical issues with XRP Ledger’s AMM pool and advises users to exercise caution
Ripple's development arm, RippleX, has uncovered a technical issue affecting the Automatic Market Maker (AMM) pool on the XRP ledger, resulting in incorrect transaction processing.…
– DexBot (@dexbot) March 25, 2024
While the team and community participants work to resolve the issue, RippleX advises users not to deposit into AMM pools (at this time).
David Schwartz, Ripple's chief technology officer, responded to
Source – X
Schwartz responded to RippleX's post about inconsistencies disrupting XRP Ledger's liquidity and transactions. The issue impacted order books and how the payment engine routes liquidity through automated market maker pools.
Meanwhile, RippleX has warned investors and traders to avoid funding AMM pools for now. Those who own LP coins should also redeem them. The team promises to work with the community to fix the issue soon.
AMM live on XRPL
The crypto project unveiled the Automated Market Maker (AMM) on the XRP Ledger on Friday, March 22nd. David Schwartz congratulated the developers on their two-year effort to bring the functionality to market.
The launch of AMM represents a crucial milestone for XRPL to attract more liquidity and improve the decentralized finance (DeFi) ecosystem.
The automated market maker creates liquidity pools that use algorithms to determine asset prices, eschewing old-fashioned order books.
The notable features of XRPL’s AMM include one-sided liquidity offerings, uninterrupted action mechanisms, and clustered liquidity.
The post XRPL’s newly launched AMM pools encounter a technical error appeared first on Invezz
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