Ad

XRPL’s newly launched AMM pools encounter a technical glitch

By:
on Mar 25, 2024
Listen
  • RippleX revealed transaction issues in some automated market maker pools.
  • Developers are working to fix the problem and urged users to avoid depositing into AMM.
  • XRP Ledger launched the new feature on 22 March to boost DeFi liquidity.

Follow Invezz on Telegram, Twitter, and Google News for instant updates >

Ripple’s (XRP) development arm, RippleX, has confirmed technical issues impacting transactions on XRP Ledger’s automated market maker pool.

Are you looking for signals & alerts from pro-traders? Sign-up to Invezz Signals™ for FREE. Takes 2 mins.

While the team and community participants work to resolve the matter, RippleX advised users to avoid depositing into AMM pools (at the moment).

Ripple chief technology officer David Schwartz cleared the air on X, stating that AMM’s single-sided deposit functionality didn’t cause the glitch.

Source – X

Schwartz replied to RippleX’s post about inconsistencies that disrupted XRP Ledger’s liquidity and transactions. The issue impacted order books and how the payment engine directs liquidity via automated market maker pools.

Meanwhile, RippleX has warned investors and traders to avoid funding AMM pools for now. Also, those holding LP coins should redeem them. The team promises to cooperate with the community to fix the issue soon.

AMM live on XRPL

Copy link to section

The crypto project revealed the automated market maker (AMM) on XRP Ledger on Friday, 22 March. David Schwartz congratulated the developers for the 2-year effort to launch the functionality.

The AMM launch represents a crucial milestone for XRPL to attract increased liquidity and enhance the decentralized finance (DeFi) ecosystem.

The automated market maker creates liquidity pools that use algorithms to determine asset prices, abandoning old-fashioned order books.

Some notable features of XRPL’s AMM include single-sided liquidity offerings, uninterrupted action mechanisms, and grouped liquidity.

Ad

Want easy-to-follow crypto, forex & stock trading signals? Make trading simple by copying our team of pro-traders. Consistent results. Sign-up today at Invezz Signals.

Learn more
Altcoins Blockchain Crypto Crypto business DeFi