The AMM for XRP Ledger has launched on the mainnet.
The AMM’s first several pools have begun to deploy.
XRP Ledger is now able to contend in the DeFi arena.
(XRPL) XRP Ledger Welcomes Live Activation of Automated Market Maker (AMM) Feature After Months of Modifications and Waiting.”
XRP Ledger AMM: Emergence of a New Pool
More than a year after it was first hinted at, the AMM feature on the XRP Ledger results from numerous development efforts and changes made by Ripple Labs developers. According to XRPScam, an explorer of the XRP Ledger, the first pools have begun to roll into the new Automated Market Maker engine.
The top 5 liquidity pools from the new AMM engine are included in the X post. The address “rf7g4JWC..hCaV” containing the XRP/CSC token pair was present in the pool with the highest liquidity. The amount of LPTokens in the pool is 19,948,160.210725 units.
AMM is now live on XRPL mainnet! First few pools are rolling in 😀 – https://t.co/RR0LsMcvEG pic.twitter.com/epnT2QESzS
— XRPScan (@xrpscan) March 22, 2024
The address with the marker “rXt6n5.8eql”—which contains the XRP/XSG pair—follows this pool. There are 54,772.255751 LPToken in this pool. The recently launched AMM boasts XRP/USD, XDX/XIO, XRP/BTC offerings, and other numerically named tokens.
The introduction of the AMM will operate as the main path of competition for the smart contract network, as the XRP Ledger aims to gain market share in the larger Decentralized Finance (DeFi). The AMM simplifies token switching, fostering the emergence of numerous decentralized exchanges in a market currently dominated by Uniswap on Ethereum.
The AMM capability will also help open doors for future innovation within the XRP ecosystem.
The Beginning of a New Age
With the AMM launch, the XRPL protocol has ushered in a new age that will benefit the ecosystem in several ways when combined with the full launch of Hooks, its smart contract engine.
The XRP Ledger is already well recognized as a top-performing blockchain appropriate for cross-border settlement and payments. Developers have pushed for features like AMM, Hooks, and Clawback, allowing innovators to match DApp on platforms like Ethereum, Solana, BNB Chain, and Avalanche.
The XRPL continues to look forward to more updates that will further strengthen its ecosystem. In the end, native protocols like Evernode may finally realize their full potential with the mainnet launch of AMM.
