Maker

Notable

Following the passing of the <a href="https://xrpscan.com/amendments" target="_blank" rel="noopener noreferrer nofollow">XLS-30D amendment</a> on Jan. 31, which introduced the Automated Market Maker (AMM) feature to the XRP Ledger (XRPL), Ripple’s development team has moved to address and propose crucial updates aimed at refining this newly added functionality.&nbsp;
The necessity for these updates emerged from a technical complication discovered during exhaustive integration tests. It was found that AMM transactions could face delays if the trading fee is set below the minimal threshold of 0.01%. This specific issue could hinder the immediate execution of transactions within the same ledger cycle post the creation of an AMM, especially when trading fees are lower than the stated limit.
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 1/ In extended integration testing to ensure the AMM performs as intended over time, we identified an issue that could prevent multiple AMM txs from executing in the same ledger. We have proposed and are reviewing a fix: <a href="https://t.co/MPMKuI8dDK" target="_blank" rel="noopener noreferrer nofollow">https://t.co/MPMKuI8dDK</a>— RippleX (@RippleXDev) <a href="https://twitter.com/RippleXDev/status/1753152074219704668?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">February 1, 2024</a>
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In response, the developers have outlined a series of enhancements designed to enable the precise identification of default fields by AMM inner objects. The strategic move is intended to circumvent the delays by ensuring transactions can proceed smoothly without pause, thereby bolstering the AMM’s efficiency and reliability. Such a measure is critical for maintaining seamless operations across the <a href="https://crypto.news/learn/what-is-an-automated-market-maker-amm/" rel="noopener noreferrer nofollow">AMM</a>, ensuring that it functions optimally under all circumstances.
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The push for these technical improvements reflects Ripple’s <a href="https://crypto.news/ripples-xrpl-solution-readies-for-significant-upgrade/" rel="noopener noreferrer nofollow">ongoing dedication</a> to enhancing the XRPL ecosystem, with a focus on ensuring that all features, including the AMM, operate at their best.
The initiative comes on the heels of the AMM feature <a href="https://twitter.com/xrpscan/status/1752654788553040205?s=20" target="_blank" rel="noopener noreferrer nofollow">receiving massive support</a> during its approval phase, achieving an 80% consensus among the decentralized Unique Node List (dUNL) validators. Out of 35 validators, 30 threw their support behind the amendment, showcasing the strong belief within the community and among key industry players in the AMM’s potential benefits. Notable endorsements came from prominent entities like <a href="https://crypto.news/ripples-technology-chief-shows-support-for-proposed-xrpl-governance-changes/" rel="noopener noreferrer nofollow">Ripple</a>, Bithomp, and <a href="https://x.com/alloynetworks/status/1752363886164979989?s=20" target="_blank" rel="noopener noreferrer nofollow">Alloy Networks</a>, an XRPL validator.
With the technical updates slated for implementation on Feb. 14, <a href="https://www.youtube.com/watch?v=JnT_ANsotKM" target="_blank" rel="noopener noreferrer nofollow">anticipation</a> within the XRPL community is growing.
Amidst the backdrop of Ripple’s ongoing efforts to enhance the XRP Ledger and its features, a major security incident involving Co-founder Chris Larsen <a href="https://crypto.news/ripple-co-founders-hacked-funds-halted-by-binance-richard-teng-confirms-on-x/" rel="noopener noreferrer nofollow">came to light</a>.
Richard Teng, CEO of Binance, shared on X on Feb. 2 that the exchange had promptly frozen the address of a hacker who targeted Larsen’s personal wallet. Teng acknowledged the swift and effective cooperation between the Ripple team and blockchain analyst ZachXBT in responding to this cyber theft.
Read more: <a href="https://crypto.news/ripple-labs-transfers-27-7-million-xrp-tokens-to-bitstamp/" rel="noopener noreferrer nofollow"> Ripple Labs transfers 27.7 million XRP tokens to Bitstamp </a>

Ripple devs propose updates following recent XRPL AMM approval

crypto.news

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