Crypto NewsNewsHighly Anticipated Update on Ripple (XRP) Network Available for Voting

Highly Anticipated Update on Ripple (XRP) Network Available for Voting

Ripple (XRP) developers have submitted one of the most important updates expected for the network to validators.

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The Ripple (XRP) community has begun voting on a change proposal that will introduce XLS-30, the first automated market maker (AMM) protocol developed as a native feature of XRP Legder (XRPL).

XLS-30 is designed to enable the trading of all assets in automatically adjusted liquidity pools through a new perpetual auction mechanism.

In order for the feature to be implemented, an 80% approval vote is required.

According to the developers, XLS-30 is an innovation that aims to bring the advantages of decentralized finance (DeFi) to XRPL, which is known for its low fees, fast results feature and high scalability.

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The protocol allows anyone to create or participate in liquidity pools that support any asset launched on XRPL, such as XRP, IOUs, stablecoins, or NFTs. Liquidity providers (LPs) can earn fees from traders exchanging assets in pools.

Unlike other AMMs that use fixed product or fixed sum formulas, XLS-30 uses a continuous auction mechanism that dynamically adjusts the prices and quantities of assets in the pool based on market demand and supply. This mechanism encourages arbitrageurs to bid on mispricing opportunities and balances pool rates efficiently, resulting in lower slippage and higher capital efficiency for both investors and LPs.

*Not investment advice.

Buradaki Yorumlardan Bildirim Al

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