Ripple Executive is excited to finally launch XRPL AMM with 210 Coin Edition XRP liquidity pools

Coin issue –

• Ripple’s CTO has praised the long-awaited launch of AMM functionality on XRPL.
• The AMM offers XRP holders passive income opportunities by providing liquidity on XRPL DEX.
• There are currently 210 liquidity pools in operation, the largest being the USDC/XRP pair with liquidity of $178.3k.

Ripple Chief Technology Officer David Schwartz has praised the long-awaited launch of Automated Market Maker (AMM) functionality on the XRP Ledger. The RippleX team announced the launch of the XRPL AMM on March 22, hailing it as a significant evolution of the platform's native decentralized exchange.

Previously, liquidity on the XRPL DEX depended solely on manual market making. However, with the recent integration, a non-custodial automated market maker has become a core feature of the XRPL DEX.

One of its main advantages is that the AMM offers passive income opportunities to the XRP community as they can become liquidity providers on XRPL DEX. Ripple CTO David Schwartz expressed his satisfaction with the debut of this liquidity provision service on the XRP blockchain. He noted that this happened after about two years of hard work.

After about 2 years the time has finally come – the AMM is live on the XRPL mainnet! This begins a longer journey from today's initial rollout to future growth milestones for users, traders, developers, market makers and many more. I look forward to the journey with all of you in the XRPL… https://t.co/JZjxloxo06

— David “JoelKatz” Schwartz (@JoelKatz) March 22, 2024

Additionally, Schwartz emphasized that this marks the beginning of a journey towards future growth milestones for users, traders, developers, market makers and others involved in the XRPL community. He can’t wait to embark on this journey with the entire XRPL community.

Other members of the XRP community have fully welcomed the debut of the XRPL AMM. Panos Mekras, the founder of Anodos Finance, thanked everyone who contributed to making this AMM a reality.

Notably, the XLS-30 amendment, which introduced AMM to XRPL, has been under discussion since last year. In February, it received the necessary consensus from XRPL validators.

However, due to a discovered bug, consensus for the change was lost until the issue was resolved. This delay resulted in the launch of the AMM on Friday, March 22nd.

Since the rollout, crypto market participants have set up numerous automated market maker pools for XRP. According to data from XRP explorer XRPScan, there are currently 210 liquidity pools in operation.

The largest liquidity pool for XRP is currently the USDC/XRP pair with liquidity of $178.3K and trading volume of $111.1K. In this pool, 1,716 transactions and 428 swaps were carried out with contributions from 449 people. Other active pools include SOLO/XRP, FLR/XRP and USDT/XRP pairs.

The post Executive Excited to Finally Launch XRPL AMM with 210 XRP Liquidity Pools appeared first on Coin Edition.

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