RippleX, the development arm of the blockchain-based digital payment protocol Ripple, has disclosed a technical glitch that impacts some of the Automated Market Maker (AMM) pools on the XRP Ledger. This issue has affected the smooth running of transactions within these pools, causing management to release a notice to its user base concerning fund deposits.

Technical Discrepancies on the XRP Ledger

The technical team at RippleX has found a certain mismatch within a restricted number of AMM pools on the XRP Ledger, leading to transactions being processed incorrectly. The matter has worried many about how these pools are going to function, which is fundamental to the liquidity and trading operations of the platform. RippleX has, as a result, admitted the issue and is now working with the community members to come up with a solution.

We’ve identified a discrepancy in a few AMM pools, in which transactions are not executing as intended. Our engineering team is working to resolve the issue alongside community participants. Out of an abundance of caution, it’s best not to deposit new funds into AMM pools for…

— RippleX (@RippleXDev) March 23, 2024

Due to the continuing technical issue, RippleX has recommended its users to no longer deposit funds into the affected AMM pools. This preventive action is meant to eliminate any possible complications that the current glitch may cause. In this regard, those who have liquidity provider (LP) tokens in these pools are advised to redeem them until the matter is resolved.

Engineering Team in Action

RippleX’s engineering team is working on the bug and concentrating on recovering the normal AMM pool operations. The company has, in addition, assured its determination to solve this problem as soon as possible and has been in touch with the community members who are helping them in the troubleshooting process.

Transparency and updates provided on time have been emphasized by RippleX in order to make users aware of the steps being taken to fix the error. As a result, the XRP Ledger users and the AMM pool stakeholders are recommended to look out for updates from RippleX through its official communication media.

User Advisory and Next Steps

In the interim, RippleX has given recommendations to the users of the XRP Ledger, especially those who participate in the AMM pools. The advisory suggests stopping depositing new funds into the AMM pools until the technical issue is completely resolved. Additionally, for those who have already invested in these pools, there is a suggestion to redeem their LP tokens as a precautionary measure.

Read Also: Bitcoin ETF Weekly Outflows Reach $900M Amid Crypto Market Crash, What’s Next?

The post RippleX Addresses Tech Glitch in XRP Ledger AMM Pools appeared first on CoinGape.

---

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