- XRPL’s fixAMMv1_1 gains 82.86% validator approval, refining AMM for deeper liquidity and better trading efficiency.
- With 29 of 35 validator votes, fixAMMv1_1 nears activation, set to enhance XRPL’s decentralized trading via improved AMM functionality.
- XRPL’s fixAMMv1_1 aims to boost liquidity and trading by refining AMM, attracting more traders and deepening ecosystem engagement.
The XRP Ledger (XRPL) is set to implement a new amendment, labeled fixAMMv1_1, later this month after gaining significant support from network validators. The XRPScan explorer highlighted this development, which informed the community about the amendment’s progress on platform X (formerly Twitter).
XRPL Amendment Process and Validator Consensus
The amendment aims to improve Automatic Market Maker (AMM) functionality on the XRPL, which is currently in the activation process. Amendments involve proposing changes to protocol or code affecting ledger functions, such as correcting errors, enhancing software speed or capacity, or introducing new functionality.
A consensus among validators is required to trigger an amendment. The fixAMMv1_1 amendment has garnered substantial backing from validators, with 29 out of 35 votes cast in favor, representing an 82.86% approval rate. To be implemented, the proposal needs to maintain at least 80% support from validators for a 14-day period. As the amendment has already crossed this threshold, it has entered its activation window, which will conclude if the consensus level is sustained for the required two-week duration. Once activated, the changes proposed under fixAMMv1_1 will take effect on the XRPL.
XRPL’s Automated Market Maker (AMM) Feature Enhancements
The upcoming fixAMMv1_1 amendment primarily concerns further development of the AMM feature in the XRPL. AMMs are a decentralized trading mechanism that essentially enables asset exchange without the use of normal order books. This feature increases liquidity and trading within the blockchain because users trade directly on the ledger.
By implementing the fixAMMv1_1 amendment, the XRPL aims to refine this functionality further, providing a more robust and efficient environment for decentralized trading. The preceding improvements are expected to draw more traders into the XRPL ecosystem, making the liquidity pools deeper while positively impacting the trading volume on the platform. The amendment is expected to eliminate certain issues and provide users with improved trading opportunities.
Community Response and Previous XRPL Updates
The XRPL community has responded positively to the upcoming fixAMMv1_1 amendment, with many members expressing optimism about its potential benefits. The high approval rate from validators supports this sentiment, indicating widespread support within the network.
The XRPL has a history of amendments that aim to improve the network’s functionality. One such update, known as “fixAMMOverflowOffer,” addressed the issue of incorrectly handled large synthetic AMM offers in the payment engine. That amendment achieved a 100% consensus from validators, demonstrating the network’s commitment to ensuring efficient operations and continual improvements.
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