Ripple (XRP) Unveils Ambitious Mainnet Community Voting Upgrade: A Glimpse into the Future

Ripple’s team has announced that the proposed Automated Market Maker (AMM) ledger amendment, XLS-30, is now available for community voting on the mainnet. This comes as the Ripple development team introduced several updates on the XRP Ledger (XRPL) that are awaiting community approval [source].

According to a tweet by Ripple’s developer, X(formerly Twitter), XLS-30 is a technical specification designed to create a native AMM protocol integrated with the XRPL’s orderbook-based decentralized exchange (DEX) [source]. The XLS-30d protocol empowers application developers to design user interfaces for traders and liquidity providers (LPs) using predefined functions. It also introduces an innovative auction mechanism that incentivizes arbitrageurs and minimizes the impact of impermanent loss on LPs [source].

The AMM implementation on the XRPL leverages Federated Consensus and canonical transaction ordering, making it less susceptible to Miner Extractable Value (MEV) and front-running attacks. Additionally, the AMM enables simplified user experiences by providing single-sided liquidity [source]. By incorporating XLS-30d, users can benefit from enhanced security and streamlined trading capabilities, making XRPL an ideal choice for various applications in the digital asset space [source].

David Schwartz, the blockchain’s Chief Technology Officer, called XLS-30 his “most cherished XRPL feature.” However, he has not responded to the X crypto community’s query on why he particularly lauds XLS-30 [source].

Overall, the availability of XLS-30 for community voting on the XRPL marks a significant step towards enhancing the platform’s capabilities and providing a seamless trading experience for users.

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J-S Tremblay
About the author - J-S Tremblay

I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...

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