Breaking: AMM Feature Goes Live on XRP Ledger (XRPL) Mainnet
Highlights
- XRP Ledger's AMM has gone live on the mainnet
- First few pools have started deploying on the AMM
- XRP Ledger can now compete in the DeFi world
After months of amendments and waiting, the XRP Ledger (XRPL) has finally welcomed the Automated Market Maker (AMM) feature to go live on the mainnet.
XRP Ledger AMM: New Pool Emergence
The AMM feature on the XRP Ledger was teased more than a year ago and it follows many developmental efforts and amendments by developers associated with Ripple Labs. As announced by the XRP Ledger explorer XRPScam, the first pools have started rolling into the new Automated Market Maker engine.
The new AMM engine has some liquidity pools with the top 5 pools showcased in the X post. The pool with the largest liquidity featured the address “rf7g4JWC…..hCaV” with the XRP/CSC token pair. The pool has an LPToken balance of 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
This pool is followed by the address with the marker “rXt6n5 … .8eql” consisting of the XRP/XSG pair. This pool boasts a balance of 54,772.255751 LPToken. The newly launched AMM also boasts of the XRP/USD, XDX/XIO, and XRP/BTC alongside other numerically christened tokens.
With the XRP Ledger looking to secure a market share in the broader Decentralized Finance (DeFi), the launch of the AMM will serve as a primary competing avenue for the smart contract network. The AMM makes token swapping easier, a provision that will birth many decentralized exchanges, an arena currently dominated by Uniswap on Ethereum.
The AMM feature will also help usher in bridges that can spark another bout of innovation within the XRP ecosystem.
The Start of a New Era
The XRP Ledger protocol through the AMM launch has entered into a new era that, when complemented with the full launch of Hooks, its smart contract engine, has several upsides to bring to the ecosystem.
XRP Ledger has already gained notable acclaim as a high-performing blockchain with suitability for payments and cross-border settlement. With the AMM feature, Hooks, and Clawback feature that was being pushed by developers, innovators can now match DApp on Solana, BNB Chain, Avalanche, and Ethereum amongst others.
The XRP Ledger is still anticipating additional upgrades which will also contribute to its ecosystem. Ultimately, with the AMM launch on the mainnet, native protocols like Evernode may now live out their true potential.
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