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RippleX Addresses Tech Glitch in XRP Ledger AMM Pools

RippleX tackles a glitch in XRP Ledger's AMM pools, advising users to halt deposits and redeem LP tokens until resolved.

Published by

Kelvin Munene Murithi

Published 24 Mar, 2024 | 10:37:23 AM UTC

RippleX Addresses Tech Glitch in XRP Ledger AMM Pools

Highlights

RippleX identifies glitch in XRP Ledger AMM pools, halts new deposits.
Engineering team mobilizes to fix XRP Ledger AMM transaction issues.
Users advised to redeem LP tokens amid XRP Ledger AMM pool glitch.

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.

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.

Kelvin Munene Murithi

Kelvin Munene is a crypto and finance journalist with over 5 years of experience, offering in-depth market analysis and expert commentary . With a Bachelor's degree in Journalism and Actuarial Science from Mount Kenya University, Kelvin is known for his meticulous research and strong writing skills, particularly in cryptocurrency, blockchain, and financial markets. His work has been featured across top industry publications such as Coingape, Cryptobasic, MetaNews, Cryptotimes, Coinedition, TheCoinrepublic, Cryptotale, and Analytics Insight among others, where he consistently provides timely updates and insightful content. Kelvin’s focus lies in uncovering emerging trends in the crypto space, delivering factual and data-driven analyses that help readers make informed decisions. His expertise extends across market cycles, technological innovations, and regulatory shifts that shape the crypto landscape. Beyond his professional achievements, Kelvin has a passion for chess, traveling, and exploring new adventures.

Published by

Kelvin Munene Murithi

Published 24 Mar, 2024 | 10:37:23 AM

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