- XRP Ledger introduces native AMM for passive income via XLS-30D amendment.
- XRPL’s AMM boosts XRP liquidity, diverse trading, and passive income potential for users.
- The XLS-30D amendment, still in development, has the potential to revolutionize XRP’s ecosystem by incorporating an efficient and cost-effective trading experience.
The XRP Ledger (XRPL) is on the cusp of introducing a game-changing feature that could reshape the dynamics of the network. The highly anticipated XLS-30D amendment is set to usher in a native automated market maker (AMM), unlocking a new realm of possibilities for XRP holders.
The forthcoming XLS-30D amendment heralds a significant stride for the XRPL as it seeks to establish its own decentralized exchange (DEX) by integrating an AMM. The AMM dynamically adjusts token prices through a mathematical formula by leveraging a liquidity pool comprised of tokens contributed by liquidity providers (LPs). A portion of trade fees is channeled back to these liquidity providers, offering a new avenue for passive income.
XRP community members stand to reap substantial benefits from this development. The XRPL’s native AMM promises to bolster XRP’s liquidity, presenting an array of trading pairs that open doors to diverse investment avenues. Furthermore, the update paves the way for users to generate passive income by participating as liquidity providers.
Renowned XRP community figure Panos Mekras lauded the introduction of the native AMM, underlining that XRP holders can now earn on the XRPL for the first time. Users can add tokens to liquidity pools, gaining LP Tokens in exchange. This empowers them to influence trading fees, boost earnings, and attract more traders to the pool.
If passed, $XRP holders will be able to earn, for the first time, income on-chain. #XLS30 #AMM https://t.co/nSiNHU2R1g
Read CRYPTONEWSLAND ongoogle news — Panos 🔼{X} (@panosmek) August 27, 2023
As the XLS-30D amendment continues its development journey, it promises to revolutionize the XRP ecosystem, further cementing XRP’s position in the ever-evolving cryptocurrency landscape.
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