- Vet successfully deployed XRP in an XRP/USD pool on the upcoming XRPL AMM.
- Vet received 15,692 LP tokens worth $8.26 million after depositing 20 XRP and $12.2 worth of USDC into the XRP/USDC liquidity pool.
- The XRPL AMM is set to launch on the mainnet on March 22.
In a recent development on the XRP Ledger (XRPL), Vet, a dUNL validator, showcased the effective integration of XRP within an XRP/USD pool on the forthcoming XRPL Automated Market Maker (AMM).
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This demonstration highlighted Vet’s utilization of Orchestra Finance, a decentralized exchange (DEX) built atop the XRPL, to infuse 20 XRP (equivalent to $12.23) and $12.25 worth of USDC into the XRP/USDC pool on the devnet version of the upcoming AMM.
Before initiating the deployment of tokens into the liquidity pool, Vet seamlessly linked their devnet Xaman wallet to the Orchestra Finance platform. Notably, the devnet serves as an ideal environment for software development and testing, offering developers a controlled space to experiment and debug code accurately. The XRPL AMM, already operational on the devnet, facilitates rigorous testing to ensure optimal performance.
The outcome of Vet’s demonstration indicates a promising performance of the AMM feature, building anticipation within the XRPL community as its launch approaches in the next four days. Upon depositing 20 XRP and the corresponding USDC amount into the XRP/USDC liquidity pool, Vet acquired 15,692 liquidity pool (LP) tokens, reflecting the substantial liquidity present within the XRP/USDC pool, valued at $8.26 million.
Vet’s successful deployment of XRP in an XRPL AMM pool showcases the technology’s readiness, boosting confidence and potentially attracting more investment in XRP. By increasing liquidity for the XRP/USD pair, Vet’s actions could reduce volatility and draw in more traders. With the XRPL AMM set to launch on March 22, anticipation within the XRP community is high, signaling positive sentiment and potential price gains.
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