After months of changes and waiting, the XRP Ledger (XRPL) has finally welcomed this Automated market maker (AMM) feature to go live on mainnet.
XRP Ledger AMM: New pool creation
The AMM feature in the XRP Ledger was announced more than a year ago and follows many development efforts and changes from developers associated with Ripple Labs. As reported by XRP ledger explorer XRPScam, the first pools have begun boarding the new Automated Market Maker engine.
The new AMM engine has a few liquidity pools, with the top five pools featured in the X post. The pool with the most liquidity contained the address “rf7g4JWC…..hCaV” with the XRP/CSC token pair. The pool has a LPToken balance of 19,948,160.210725 units.
This pool is followed by the address marked “rXt6n5….8eql”, consisting of the XRP/XSG pair. This pool has a balance of 54,772.255751 LPTokens. The newly launched AMM also features XRP/USD, XDX/XIO and XRP/BTC, among other numerically named tokens.
With the XRP Ledger attempting to secure market share more broadly Decentralized finance (DeFi), the introduction of AMM will serve as the primary competitive path for the smart contract network. The AMM facilitates token exchanges, a provision that will spawn many decentralized exchanges, a space currently dominated by Uniswap on Ethereum.
The AMM feature will also help build bridges that can spark further innovation in the XRP ecosystem.
The beginning of a new era
The XRP Ledger Protocol has entered a new era with the launch of AMM, which, when complemented by the full launch of Hooks, its smart contract engine, brings several benefits to the ecosystem.
XRP Ledger has already gained widespread recognition as a powerful blockchain suitable for payments and cross-border settlements. With the AMM function, hooks and Clawback function After being pushed by developers, innovators can now compete DApp on Solana, BNB Chain, Avalanche and Ethereum, among others.
The XRP Ledger is still anticipating further upgrades that will also contribute to its ecosystem. With the introduction of AMM on the mainnet, native protocols like Evernode can now live out their true potential.
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