David Schwartz, CTO of Ripple, has requested that XRP Ledger (XRPL) validators enable the automated market maker (AMM) capability, but only if there is community agreement. AMMs are the exciting decentralized finance (DeFi) innovation that is attracting attention, according to Schwartz, who started a discussion on the XRPL’s AMM functionality on X (formerly known as Twitter).
The XRP Ledger, a decentralised blockchain-based ledger that underpins the XRP cryptocurrency, is renowned for its scalability and speed, making it appropriate for a range of financial applications, including cross-border payments and remittances. After the vote, a community member inquired about the timeframe for AMMs to become live on the XRPL. Schwartz said that if the majority approves the amendment, the improvements might be implemented in as little as two weeks
In order to support these revisions, validators should not vote independently, according to Schwartz, who emphasised the significance of a majority vote. Instead, he advocated for the community to come to a consensus first, and then when they believe the community is in accord and that enough nodes support the modification, validators should overwhelmingly vote YES. With the release of rippled version 1.12.0, which also included the possible Clawback feature, the AMM feature was introduced. AMM’s arrival will allow integration with the XRPL DEX in addition to the creation of a new trading engine.
David Schwartz is well known for his enlightening writings and dedication to promoting decentralization. He recently cleared up misconceptions about the Clawback feature, which is frequently perceived as an infringement on XRPL users’ privacy. He made it clear that the Clawback function’s goal is to protect developers from potential legal obligations inside the ecosystem. Schwartz is outspoken about his support for the development of the XRPL and frequently advances this cause.