RippleX, the XRP Ledger development platform, has announced the launch of its Automated Market Maker (AMM). An AMM is a decentralized exchange that facilitates the sale of digital currency between users. The AMM is a product of the XLS-30d proposal submitted earlier this year.
It provides adequate liquidity for assets while also allowing users to contribute by acting as liquidity providers and earning rewards on their capital.
The team welcomes developers to create innovative applications and test the product. They also allowed for user suggestions and feedback.
Ripple intends to integrate the AMM into its mainnet after rigorous testing and developer feedback. However, the proposal must be approved by more than 80% of its validators before it can be implemented.
During an interview in June, Ripple’s Chief Technical Officer, David Schwartz, discussed the protocol’s new developments. He referred to the product as the “secret sauce.”
He also said:
“Probably the most unique feature is that it allows those that provide liquidity for automated market makers to take a large share of the profits that would normally go to arbitrageurs. Can’t really talk about the secret sauce just yet.”
The expected outcome of this implementation is to make arbitrageurs more profitable with less risk.
Ripple is the payment network behind RippleX. It is a cryptocurrency company that facilitates cross-border payments. It was founded in 2012 by Ripple Inc. Labs. The protocol’s native token is known as XRP. Ripple Labs has been embroiled in a two-year legal battle with the US Securities and Exchange Commission (SEC) over allegations of illegal token sales.
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