Canary

Maker

Shiny

<p>Following the <a href="https://x.com/ripplexdev/status/1771271093468193241?s=46" rel="nofollow" target="_blank">official launch</a> of XRP Ledger’s (XRPL) <a href="https://www.newsbtc.com/analysis/xrp/ripple-amms-to-xrpl-xrp-price/" rel="nofollow noopener" target="_blank">Automated Market Maker (AMM)</a>, XLS-30, on March 22, developers unearthed various discrepancies linked to a system bug. As a result, an XRPL developer has called for a fix, highlighting the need for enhanced testing procedures and the incorporation of a Canary Network to bolster the AMM’s stability.&nbsp;</p> 
<h2 id="xrpl-s-new-amm-encounters-unexpected-bug">XRPL’s New AMM Encounters Unexpected Bug</h2> 
<p>On March 24, the RippleX development team <a href="https://x.com/ripplexdev/status/1771680918895558913?s=46" rel="nofollow" target="_blank">unveiled</a> a technical glitch in its newly launched AMM. The revelation comes as a <a href="https://x.com/maria06801698/status/1771969474310127774?s=46" rel="nofollow" target="_blank">surprise</a> to the general XRPL community, as they had been eagerly waiting for the <a href="https://www.newsbtc.com/xrp-news/xrp-not-bank-stablecoin-post-amm/" rel="nofollow noopener" target="_blank">protocol to roll out</a>.&nbsp;</p> 
<p>According to the official statement released by the <a href="https://bitcoinist.com/ripple-releases-amm-devnet-unlocks-defi-potential/">RippleX team</a>, the technical glitch surfaced as a result of multiple discrepancies identified in several <a href="https://www.newsbtc.com/analysis/xrp/ripple-cto-amm-xrp-income/" rel="nofollow noopener" target="_blank">AMM pools</a>. Upon investigation, the team revealed that the inconsistencies had “affected how the DEX payment engine routes liquidity through the AMM pools and order books.”</p> 
<p>Addressing the issue, the development team has assured users that the engineering team were working diligently to resolve the bug issue and restore normal operation in the <a href="https://bitcoinist.com/ripple-cto-breaks-down-the-amm-feature/">AMM</a>. Additionally, they have advised users to remain cautious and avoid depositing new funds into the AMM pools until the dilemma has been rectified.</p> 
<p>Despite the temporary setback, optimism remains in the <a href="https://bitcoinist.com/primary-threat-to-xrp-ledger-uncovered/">XRPL</a> community, with many <a href="https://x.com/gootecks/status/1771974042817528258?s=46" rel="nofollow" target="_blank">expressing</a> confidence in the development team’s ability to swiftly address the issue. The RippleX team has also <a href="https://x.com/ripplexdev/status/1771961354297241930?s=46" rel="nofollow" target="_blank">stated</a> that it has begun reviewing several proposed fixes for the AMM glitch, highlighting that the proposals will have to go through an amendment voting process before any solution is implemented.&nbsp;&nbsp;</p> 
<h2 id="xrpl-dev-calls-for-canary-network">XRPL Dev Calls For Canary Network</h2> 
<p>In response to the <a href="https://bitcoinist.com/ripple-xrp-ledger-amm-launch-not-affected/">technical challenges </a>faced by XRPL’s new AMM, WietseWind, one of the developers of the <a href="https://bitcoinist.com/xrp-ledger-foundation-ripplex-governance-overhaul/">XRP Ledger</a> has <a href="https://x.com/wietsewind/status/1771998717832278162?s=46" rel="nofollow" target="_blank">proposed</a> a long-term solution that could potentially ensure a more stable protocol. According to the developer, the discovery of a bug in the newly <a href="https://bitcoinist.com/coreum-founder-teases-gains-for-xrp-users-with-amm/">launched AMM</a> is evidence of the fragility of the protocol, emphasizing a lack of proper testing before launch.</p> 
<p>WietseWind has stated the need for the development of a Canary Network to enhance and improve the AMM. He revealed that the Canary Network will have to be separate from the AMM, while also offering a native asset of some value so individuals can use it for real-life scenarios.</p> 
<p>The developer has disclosed that the Canary Network would enable better testing with real value on a network that is not the mainnet. Additionally, it would be an inclusive network for the developers, projects, and everyone within the <a href="https://bitcoinist.com/xrps-underperformance-ruffles-feathers-as-community-asks-ripple-to-do-something-about-price/">XRPL community.</a></p> 
<p><img loading="lazy" decoding="async" class="aligncenter size-medium" src="https://www.tradingview.com/x/ARb5diBS/" alt="XRP price chart from Tradingview.com" width="3286" height="1530"></p>

XRP Ledger’s Shiny New AMM Runs Into Problems – Here’s What We Know

Table of Contents

Bitcoinist

Другие статьи, опубликованные 25 мар. 2024 г.

Dogecoin up 5% in 24 hours: Thank you, social media?

Binance Academy and BNB Chain Launch BNB Chain Developer Education Program

Dogwifhat (WIF) And BONK Had An Impressive Run In The Past Few Weeks; Is It $RBLZ’s Time To Shine?

FTX Agrees to $884M Anthropic Shares Sale to Investors

ChainGPT & Polygon Labs Alliance Indicates MATIC Price Recover

Solana (SOL) Flips Major Resistance as Analyst Predicts $250 Target

Join our free newsletter for daily crypto updates!