tl;dr
The XRP Ledger is on the verge of a significant upgrade that could introduce an automated market maker (AMM) trading platform, allowing $XRP token holders to earn income on-chain. With 20 validators already approving the XLS-30d amendment and more showing support, the proposal is gaining traction. I...
The XRP Ledger is on the verge of a significant upgrade that could introduce an automated market maker (AMM) trading platform, allowing $XRP token holders to earn income on-chain. With 20 validators already approving the XLS-30d amendment and more showing support, the proposal is gaining traction. If implemented, the AMM would enable users to trade cryptocurrencies in a permissionless way using liquidity pools, reducing the need for intermediaries and order books. This upgrade could significantly boost the liquidity of XRP itself, as well as allow token holders to earn fees from trades conducted on the AMM.
According to Anados Finance founder Panos Mekras, 20 validators have already approved the highly-anticipated XLS-30d amendment. Data from XRP Ledger explorer XRPScan shows that since Mekras’ post another validator has approved the proposal, bringing the consensus to 60%. The proposal has a 28 vote threshold. An AMM is a platform that allows for cryptocurrency trading in a permissionless way using liquidity pools, rather than traditional order books. Liquidity pools are shared pools of two or more tokens supplied by users that are used for trades. The prices of tokens within the pool are determined through the use of blockchain oracles. One of the main advantages of AMMs is that they eliminate the need for intermediaries and order books, which reduces transaction costs and delays. AMMs also enable high liquidity and low slippage, as users can always trade with the pool regardless of the market conditions.
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