- Ripple’s Lead Product Manager emphasizes the AMM’s potential to enhance XRP’s utility and necessity.
- Expert opinions refute claims that the AMM might alter XRP’s immutable tokenomics, emphasizing its role as a utility token.
- Despite ongoing voting on the XLS-30D Amendment for the AMM, concerns arise as consensus levels among validators have yet to reach the required threshold.
Ripple’s Lead Product Manager, Jasmine Cooper, anticipates a significant surge in the usefulness and demand for XRP with the imminent introduction of the Automated Market Maker (AMM) on the XRP Ledger (XRPL).Read CRYPTONEWSLAND on google news
In a recent interview shared by Eri, a prominent figure within the XRP community, Cooper highlighted the potential impact of the AMM on XRP’s functionality. Speculations within the XRP community had also surfaced suggesting the AMM might reshape XRP’s tokenomics.
However, experts, including crypto author Panos Mekras, dismissed these claims, asserting that XRP’s tokenomics are immutable and resistant to fundamental changes. Both Mekras and Eri stressed that the AMM’s introduction wouldn’t transform XRP into a stablecoin due to its reliance on volatility.
Cooper echoed these sentiments, affirming that she doesn’t foresee the AMM altering XRP’s tokenomics. Instead, she underscored XRP’s role within the XRPL as a utility token primarily utilized for gas and account reserves.
While dispelling notions of tokenomics alteration, Cooper shed light on the AMM’s potential to heighten XRP’s utility and necessity within the ecosystem. She predicted a burgeoning need for XRP with increased growth and adoption, signifying a potential upsurge in its usage.
Despite the anticipated benefits, concerns arise as the XLS-30D Amendment introducing the AMM faces a hurdle in reaching a consensus among validators. Presently, the consensus level stands at 40%, with 14 validators, including Ripple and Bithomp, voting in favor of the amendment. However, 21 validators are still holding a dissenting vote, causing uncertainties among the community.
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