Coreum has announced plans to launch its XRP Ledger (XRPL) cross-chain bridge, which could allow users to move assets between Coreum and the XRPL and potentially leverage the AMM on Coreum.
Bob Ras, the co-founder of Coreum and Sologenic, shared this information in a post on X last night. He disclosed that the XRPL cross-chain bridge from Coreum is on the verge of being operational. This development will enable effortless transfers of all issued assets between the two networks.
It bears mentioning that Coreum already launched its bridge to the XRPL in the fourth quarter of 2022. However, this bridge only allows the transfer of COREUM tokens from the XRPL to the Coreum blockchain. By the end of last year, users had bridged 37 million COREUM.
The upcoming development is set to expand this capability by also allowing the bridging of all assets from Coreum to the XRPL and vice versa. In a disclosure last December, the Sologenic team teased upcoming advancements to the bridge, including multi-asset support and bigger interoperability capabilities.
According to Bob Ras, with these advancements, assets issued on the XRP Ledger will also benefit from Coreum’s smart token technology. The smart token technology allows users and businesses to issue assets on Coreum with in-built smart contracts functionality.
XRPL Users Could Leverage the Coreum AMM
In addition to this benefit, Ras emphasized that the upcoming bridge functionality will also create an opportunity for assets issued on the XRPL, including XRP, to engage actively in AMM pools on Coreum.
Bob Ras called on builders on Coreum to help facilitate this. In particular, the Coreum co-founder beckoned on Pulsara, a Coreum-based ecosystem featuring an exchange and a token manager, among other services, and Whelp, a fast-growing Coreum-based DeFi hub.
According to Ras, these two entities could try developing a UI for the bridge and launch new pools featuring Coreum-based and XRPL-based tokens so users from both ecosystems can leverage the AMM on Coreum. He highlighted token pairs such as XRP/Coreum, SOLO/XRP, SOLO/Coreum, XRP/USDC, and SOLO/USDC.
Notably, the XRP Ledger is also looking to welcome its native automated market maker (AMM), with the XLS-30D amendment set to be implemented on Feb. 14. The amendment has already reached the minimum consensus threshold.
Notably, the upcoming advancements to the Coreum bridge and the imminent implementation of the XLS-30D amendment could allow XRPL users to earn passive income with AMMs in both ecosystems.
DisClamier: 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 opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
