According to an X post by dominant XRP Ledger (XRPL) explorer XRPScan, its validator has been upgraded to version 2.1.1. and the entire ecosystem is already looking at welcoming its first amendment for its recently launched Automated Market Marker (AMM) dubbed “fixAMMOverflowOffer.” 

XRP Ledger AMM and the fixAMMOverflowOffer Amendment

Currently, there is an ongoing voting session for the fixAMMOverflowOffer amendment on the XRP Ledger AMM. This amendment aims to fix the improper handling of large synthetic AMM offers in the payment engine. XRPL views this fix as one of its most important. Therefore, the default vote in the source code has been set to YES pending when the final voting results are implemented.

At the same time, the threshold necessary for the proposal to be passed is a YES from about 80% of validators. This means that at least 28 out of the 35 validators will be required to vote in favor of the AMM fix amendment. So far, a total of 20 YES votes and 15 NAY votes have been received.

This proposed amendment comes a few days after the XRP Ledger AMM feature went live on the XRPL mainnet. The feature had been teased as far back as one year ago and after several developmental efforts and amendments by developers associated with Ripple Labs, the feature is now a reality on XRPL. 

Multiple Amendments on the XRPL 

This fixAMMOverflowOffer is one of the many amendments that the XRP Ledger AMM engine and blockchain has introduced in the last few months. Notably, the XRPL Clawback amendment, particularly its version 1.12.0, went live on the mainnet with major AMM changes introduced last month. Before going live, Clawback received 94.3% votes in its favor, that is 33 YES votes out of 35. 

The Clawback feature is an important enhancement necessary for the XRPL’s token asset management tools. It makes it possible for developers to exercise their authority to reverse token transactions in some particular scenarios. 

There are other amendments like the fixNonFungibleTokensV1_2, the fixTrustLinesToSelf, the fixUniversalNumber, and the ImmediateOfferKilled amendment. 

Amidst these amendments and improvements, the RippleX team is still trying to tackle the recent glitch in XRP Ledger’s AMM pools. These glitches have impacted negatively on the smooth running of transactions within its associated pools. However, the technical team at RippleX has found a certain mismatch within a restricted number of AMM pools on the XRP Ledger.

The post XRP Ledger (XRPL) Newly Launched AMM To Welcome First Amendment appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am