- RippleX the prominent Ripple dev team reveals the completion of a security audit.
- CertiK held the comprehensive security audit and RippleX says it was a huge success.
- The audit was a security audit for the XLS-30d AMM spec.
CertiK, a leading blockchain security firm, has successfully completed a comprehensive security audit for XLS-30d. Specifically, this is the Automated Market Maker (AMM) spec for the XRP Ledger.
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In the rapidly evolving world of decentralized finance (DeFi), trust and security are of utmost importance. With numerous innovative projects emerging, users seek reassurance that their funds and personal information are protected. Therefore, to address these concerns and establish confidence in the project, a thorough security audit is essential.
Thus, the recent milestone achieved in the development of XLS-30d AMM spec marks a significant event. Now, the platform offers an enhanced level of user safety and robustness. In particular, the audit, conducted by CertiK, resulted in 31 findings. Of these, none were classified as critical or major.
In fact, the RippleX engineering team promptly addressed the relevant findings, resolving all but two of the ‘minor’ ones. CertiK’s vast experience in DeFi auditing and dedication to industry best practices made them the ideal choice for assessing the security aspects of XLS-30d.
To highlight, the team of seasoned security experts meticulously analyzed the codebase. In addition, they also identified potential vulnerabilities and outlined rigorous security measures to safeguard the platform’s functionality.
The audit primarily focused on reviewing the formulas used in the AMM operations. By doing so, it ensures compliance with industry standards and verifies alignment with XLS-30d specifications. Conducting a meticulous line-by-line code review led by seasoned C++ engineers was also part of this move.
Following the completion of the audit, the RippleX engineering team worked closely with CertiK to address the relevant findings. For further information, stakeholders can refer to the official report.
Understanding XLS-30d
XLS-30d operates as a non-custodial AMM, facilitating trading via liquidity pools on the XRPL decentralized exchange (DeX). Token holders can participate as liquidity providers, earning a share of trading fees. The AMM’s unique functionality utilizes a continuous auction mechanism, incentivizing arbitrageurs to bid for price discrepancies, and benefiting liquidity providers.
Unlike typical AMMs executed via smart contracts, XLS-30d operates at the protocol level on the XRP Ledger. It aggregates liquidity and enhances pricing and availability of tokenized assets. The AMM ensures openness, fairness, and immutable rules for all participants.
Developers are encouraged to explore the AMM Devnet and access the open-source technology for building integrations and testing functionalities. An active Discord community provides a platform for sharing ideas and seeking assistance from XRPL community members.
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