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XRPL Update: A New Step to Boost XRP Liquidity?
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"A major update in the XRP Ledger ecosystem has been approved by validators! This change paves the way for creating an Automated Market Maker (AMM) pool for XRP/RL USD. What does this mean for the future of XRP and the RL USD stablecoin? Let’s discuss!"
Recently, the XRP Ledger (XRPL) community approved a significant amendment called the AMM Clawback Amendment. The amendment garnered over 85% of validator votes. According to leading validator Vet, if this support continues for two consecutive weeks, the changes will take effect on January 30, 2025.
So, what’s the core of this amendment?
First, it allows tokens with clawback features, like RL USD, to be used in AMM pools. The clawback feature is essential for regulatory compliance, particularly for financial institutions like banks, as it enables token issuers to reclaim tokens in specific situations, such as cases involving criminal activity.
Additionally, the update introduces rules to prevent frozen tokens from being stored in AMM pools. A new transaction type, AMM Clawback, has also been introduced, allowing issuers to reclaim tokens already placed in an AMM pool.
Since its launch in December 2024, RL USD, Ripple's stablecoin, has been gaining attention. However, it has yet to be listed on major platforms like Binance and Coinbase.
Ripple CTO David Schwartz believes RL USD has immense potential to enhance XRP liquidity. Integrating RL USD into AMM pools could further drive this liquidity forward.
Panos Mekras, co-founder of Anodos Finance, has also welcomed this update. He stated that the XRPL community should prepare to provide liquidity and utilize the swap feature once the AMM pool becomes operational. Anodos Finance is expected to be one of the platforms supporting these activities.
The amendment approval process is rigorous, requiring 80% validator support for two consecutive weeks. According to the latest data, the amendment has already gained support from 30 validators, with only five dissenting. These numbers strongly suggest that the amendment will likely be finalized as scheduled.
#xrp #ripple #xrpledger #xrpripplenews #xrpinsights #xrpnewstoday
Recently, the XRP Ledger (XRPL) community approved a significant amendment called the AMM Clawback Amendment. The amendment garnered over 85% of validator votes. According to leading validator Vet, if this support continues for two consecutive weeks, the changes will take effect on January 30, 2025.
So, what’s the core of this amendment?
First, it allows tokens with clawback features, like RL USD, to be used in AMM pools. The clawback feature is essential for regulatory compliance, particularly for financial institutions like banks, as it enables token issuers to reclaim tokens in specific situations, such as cases involving criminal activity.
Additionally, the update introduces rules to prevent frozen tokens from being stored in AMM pools. A new transaction type, AMM Clawback, has also been introduced, allowing issuers to reclaim tokens already placed in an AMM pool.
Since its launch in December 2024, RL USD, Ripple's stablecoin, has been gaining attention. However, it has yet to be listed on major platforms like Binance and Coinbase.
Ripple CTO David Schwartz believes RL USD has immense potential to enhance XRP liquidity. Integrating RL USD into AMM pools could further drive this liquidity forward.
Panos Mekras, co-founder of Anodos Finance, has also welcomed this update. He stated that the XRPL community should prepare to provide liquidity and utilize the swap feature once the AMM pool becomes operational. Anodos Finance is expected to be one of the platforms supporting these activities.
The amendment approval process is rigorous, requiring 80% validator support for two consecutive weeks. According to the latest data, the amendment has already gained support from 30 validators, with only five dissenting. These numbers strongly suggest that the amendment will likely be finalized as scheduled.
#xrp #ripple #xrpledger #xrpripplenews #xrpinsights #xrpnewstoday
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