Ripple’s CTO says XLS-30 AMM is his most valued feature on the XRP Ledger

Ripple’s CTO is excited that XLS-30 AMM is now available for voting on mainnet.

In a recent tweet, Ripple Chief Technology Officer David Schwartz revealed one of his most valued XRP Ledger (XRPL) features.

The revelation came after the RippleX development team published the XLS-30 Automated Market Maker (AMM) proposal change on the XRPLedger. The team added that the amendment could be voted on.

In response, Schwartz excitedly noted that his favorite XRPL feature – XLS-30 AMM – is now available for voting on mainnet.

One of my favorite XRPL features ever, which I explained in my keynote at #ApexDevSummit, is now available for voting on mainnet. https://t.co/c6Sp59ldYx

— David “JoelKatz” Schwartz (@JoelKatz) September 8, 2023

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While members of the XRP community asked, Ripple’s CTO did not explain what made the XLS-30 AMM one of his favorites for XRPL.

XLS-30 AMM voting on mainnet

Accordingly XLS-30 is a groundbreaking protocol from the RippleX development team and the first AMM natively integrated into the XRPLedger. For comparison, AMMs are decentralized exchanges (DEXs) that allow market participants to trade digital assets without traditional order books.

Instead, it uses smart contracts and liquidity pools to enable peer-to-peer token swaps. Users earn fees after providing liquidity to the pools.

In the announcement, the team noted that the changes to the XRPL-based AMM are currently being reviewed and voted on by the validator community. The voting process is a step towards its integration into the XRPL mainnet.

The team explained that XLS-30 would synergize native AMM operations to enable seamless crypto trading within liquidity pools on XRPL. According to the update, one of the key changes to XLS-30 was the addition of a novel continuous auction mechanism.

According to the team, the feature incentivizes arbitrageurs to actively bid on mispricing opportunities. Additionally, the attribute is expected to effectively mitigate the impact of temporary losses for liquidity providers.

Additionally, the RippleX development team claimed that the combination of XLS-30’s unique features with XRPL’s typical low fees and fast transaction finality puts the AMM at the forefront of DeFi innovation.

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Disclaimer: This content is for informational purposes and should not be considered financial advice. The views expressed in this article may contain the personal opinion of the author and do not reflect the opinion of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions. The Crypto Basic assumes no liability for any financial losses.

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