The XRP Ledger has activated a key amendment on the mainnet in a bid to drive innovations and functionalities in AMM pools
XRPScan has announced a major XRP Ledger (XRPL) amendment. In an X post, the network’s explorer identified the activation of the fixAMMv1_1 amendment on the XRPL mainnet. According to XRPScan, the XRP Ledger’s code change is now live after months since it was first introduced.
Enhancing XRPL’s Automated Market Maker (AMM) System
The fixAMMv1_1 amendment is a fix or improvement to the Automated Market Maker (AMM) feature on the XRPL. Notably, AMMs remain a crucial part of Decentralized Finance (DeFi) as they enable automated trading of digital assets without the need for a traditional order book.
Amendment fixAMMv1_1 is now enabled on the xrpl mainnet. Two more amendments are set to activate over the next 3 days: https://t.co/MJJuIYOBav pic.twitter.com/v4DuAIKnap
— XRPScan (@xrpscan) September 24, 2024
The v1_1 amendment indicates that the core focus hinges on fixing bugs or enhancing existing functionality within the AMM system. The changes have been applied to the XRPL, having passed the consensus process by validators on the XRPL.
Meanwhile, with the successful activation of the fixAMMv1_1 amendment, XRPScan says more amendments have been planned. Two more amendments will take place in the next three days, likely improving overall functionality.
The current activation of the fixAMMv1_1 amendment had 32 yes votes in support and 3 nays against it. With 91.43% consensus, the amendment went live at 12:18 p.m. UTC.
XRP Ledger Addresses Key Network Issues Amid Growing Activity
The need for an amendment might have been due to the growing network transactions on the XRP Ledger. BGECrypto’s earlier report shows that users are actively generating new addresses.
XRP Ledger developers also stated that it would address a major network issue that is affecting the network. This involves upgrading the network to ensure the ledger’s transparency and decentralization. As per the XRPL, some nodes cannot handle large transaction volumes due to restrictions in the SQLite management system.
Although the general XRP community remains bullish on the asset, its price traded down by 0.76% to exchange hands at $0.5839 per CoinMarketCap data.
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