Ultimate magazine theme for WordPress.

RippleX detects disruption in XRP ledger and stops deposits

RippleX has reported a technical glitch affecting some Automated Market Maker (AMM) pools on the XRP Ledger (XRPL).

The bug has disrupted transactions within these pools. The RippleX team has warned users through a post on X and advised against making new deposits into AMM pools. Liquidity Provider (LP) token holders have been advised to withdraw their funds until the issue is resolved.

These preventive measures are intended to prevent further complications due to the disease.

AMM pools serve as sources of liquidity in decentralized exchanges (DEXs). They allow trading of assets without traditional order books. Traders can swap assets with the pool without involving another user. The pools hold various asset reserves.

The bug impacts transaction execution in some AMM pools on XRPL and causes them to not be processed correctly, impacting the basic functionality of the pool and requiring a quick fix.

The developers are currently working actively with community members to fix the bug.

The issue has caused several projects using XRPL pools to suspend their connections. Sologenic, a platform for trading tokenized stocks on the XRPL, stopped deposits following RippleX’s announcement. Anodos, known for its XRPL interface AnodoSwap, has also disabled its service.

The community’s reactions were mixed.

Some users raised concerns about the reliability of the network following the outage. One user expressed frustration with the situation, claiming the “chain is dead.” However, others were a bit more supportive, praising the RippleX team for their transparency on the matter.

The XRPL AMM went live on March 22nd after the XLS-30D amendment was passed on January 31st. According to XRPScan, this new feature resulted in the creation of over 1,000 liquidity pools, significantly diversifying the available assets. One of the largest liquidity pools is the PCSH/XCASH pair. The AMM account for this pair, known as “rM8W….cX1h,” has a balance of 13,136,629,099.06384 LPToken.

David Schwartz, CTO of Ripple, described the launch as the beginning of a “longer journey” from the initial launch to upcoming milestones.

The complications have arisen despite rigorous testing by RippleX developers. Back in January, the team reported the discovery of a “problem” that could prevent AMM transactions from executing immediately. The problem arose when trading fees were set below the minimum value of 0.01%.

Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
https://nov.link/cryptoanswers

Comments are closed.