Maker

In a recent post, Vet, operator of the XRP Ledger dUNL Validator, announced the withdrawal of their vote for the activation of the XLS-30 amendment. An approval will introduce an Automated Market Maker (AMM) to the <a href="https://news.todayq.com/xrp-ledger-amm-upgrade-closes-in-whales-move-155m-xrp/" target="_blank" rel="noopener noreferrer nofollow">XRP Ledger </a>(XRPL). He showed his concerns about the potential impact on the image and reputation of the XRP community and ledger. However, XRP is still struggling to make a comeback after a major decline. XRP ledger validator raises concerns 
Vet highlighted the need for improvements before the AMM activation. He stated that while the AMM edge case effect might be minor. The decision to withdraw the vote is driven by the desire for a better launch and to address any potential issues. The post noted past instances, such as XLS-20 and fixNFTokenDirV1, where similar situations were encountered.
The XLS-30 amendment recently achieved 85.71% consensus among dUNL validators. 30 out of 35 validators support it. This includes Ripple, Bithomp, Alloy Networks, Vet, and Bitrue, who have shown their support. The amendment is set to be implemented on the mainnet on February 14. This comes after the required two-week period after achieving 80% consensus.
It is important to note that Ripple, promptly voted in favor of the proposal. However, others raised concerns about potential risks associated with the AMM feature, such as frontrunning and market manipulation.&nbsp;
Vet’s decision to withdraw the vote is aligned with a cautious approach. This move urges for the implementation of fixes before the AMM activation.
The XRP community had previously expressed concerns about perceived delays in the voting process for the AMM amendment. Despite these concerns, validators emphasized that the governance timeline for all amendments is similar.
In addition to these developments, recent large XRP transfers by Ripple Labs have stirred discussions within the XRP community. Notably, three significant transactions totaling 202.5 million XRP were identified by Whale Alert, adding to the broader market sentiment affected by bearish trends in major cryptocurrencies.
On the market side, XRP is still battling with high selling pressure as its price dropped by over 10% in the last 30 days. However, XRP printed the green index by surging marginally in the last 24 hours. It is trading at an average price of $0.501, at the press time. However, its 24 hour trading volume is up by 6% to stand at&nbsp; $855 million.
Get Crypto Trading Signals from Real Crypto Analysts. Join our Waiting List at todayq.com

Vet, XRP ledger validator, withdraws support for AMM activation

Todayq News

Другие статьи, опубликованные 7 февр. 2024 г.

Are AI Companies the Casualties of National Security Reevaluation?

Insights into South Korea’s two-part crypto regulatory framework

Whale’s Strategic Crypto Trades Lead to Potential Profits

Spot XRP ETF’s prospects; Rebel Satoshi rising on strong market activity

Judge Orders Ripple to Submit Financial Records in SEC Lawsuit

Chainlink Challenger Pyth Network Announces New Airdrop for Over 160 Dapps

Join our free newsletter for daily crypto updates!