The XRP community is now close to welcoming the long-awaited automated market maker (AMM) on XRP Ledger as more validators pledge to vote Yes to the XLS-30 amendment.
Notably, this comes amid a new update to the XRP Ledger. Specifically, a new announcement on the official GitHub of the XRP Ledger Foundation confirms the release of Rippled version 2.0.1.
This update, which is now live for installation, aims to resolve various issues and bugs discovered in previous versions.
Following this pivotal update, XRP validators took to X to express their commitment to adopting Rippled version 2.0.1. Among them was Wietse Wind, the founder of XRPL Labs, the team behind XRP wallet Xaman.
XRP Validators Pledging to Endorse XRPL AMM
Wietse Wind noted his plan to install Rippled 2.0.1 on the XRP Labs validator and several of their “full history, pathfinding, and submission nodes.” Moreover, he stated that he would closely monitor their performance.
Wind highlighted that if everything proceeds smoothly without any hiccups, he plans to change their vote on XRPL’s XLS-30D AMM Amendment to a “yes” less than two weeks from now.
Today I will install Rippled 2.0.1 on the @XRPLLabs validator and some of our full history, pathfinding, and submission nodes.
I will closely monitor performance, and if all fine, 1.5 week from now I will change our vote on AMM to Yay.
— WietseWind (?+? Xumm @ XRPL Labs) (@WietseWind) January 30, 2024
Similarly, Dirk Schepens, founder of XRPL NTF project xSPECTAR, announced their plan to implement Rippled 2.0.1. Schepens stated that they would assess the situation following a brief monitoring period.
Where everything works as expected, they will cast a “Yay” vote on the proposed AMM.
Today we will install Rippled 2.0.1 on the @xspectar validator ?
After a few days of monitoring we will evaluate and if all fine we will vote Yay on AMM
— DS ??? (@xspectDS) January 30, 2024
Likewise, the XRPscan team revealed that the XRPScan validator has been upgraded to Rippled v2.0.1. With this update, they are casting their votes in favor of numerous amendments to the XRP Ledger, including the AMM.
xrpscan validatator has been updated to rippled v2.0.1. With this update, we're voting for the following amendments:
– AMM
– DID
– fixFillOrKill
– fixDisallowIncomingV1
– Base Fee = 200 Drops pic.twitter.com/y80XgX7huP— XRPScan (@xrpscan) January 30, 2024
AMM Coming to XRPL
According to data from the XRP explorer XRPscan, the consensus for the proposed XRPL AMM stands at 68.57% at the time of reporting, with backing from 24 validators.
The successful implementation of the AMM feature depends on securing an 80% endorsement from XRPL validators.
Significantly, the current figure represents a notable advancement compared to the 16 “yes” and 18 “no” votes recorded last month.
Notably, this XLS-30D AMM Amendment will offer XRP holders a distinctive chance to earn passive income from their holdings. This will be achieved through a liquidity staking pool, allowing holders to contribute liquidity to automated market makers.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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