XRP Ledger (XRPL) Welcomes Crucial NFT Amendment on Mainnet
Highlights
- XRP Ledger has launched fixNFTokenReserve amendment on the mainnet
- This amendment is tailored to bring enhanced NFT liquidity on-chain
- XRP Ledger is advancing with crucial updates coming to the mainnet
A new amendment dubbed fixNFTokenReserve has been activated on the XRP Ledger (XRPL) mainnet, marking a significant milestone for the decentralized public blockchain.
fixNFTokenReserve Scales Through
Dominant XRPL explorer XRPScan confirmed that the activation of the amendment took place at around 12:21 UTC on April 12. It was released in version 2.1.0. Like other proposals on the XRP Ledger, fixNFTokenReserve had an approval threshold of 28/35 which implies that at least 28 validators are required to vote in its favour before it is accepted.
After the voting period, the fixNFTokenReserve proposal received 29 “Yeas” and only 6 “Nays”, thereby putting the amendment up for approval.
According to XRPScan, “this amendment adds a check to the NFTokenAcceptOffer transactor to see if the OwnerCount changes. If it does, it makes an additional check that the reserve requirement is met for the updated owner count.”
Notably, the fixNFTokenReserve amendment is only one of the many amendments that are scheduled to go on the XRPL mainnet. In the coming weeks, many other amendments are expected to go through a voting session.
Dynamic XRP Ledger Amendment Features
The launch of fixNFTokenReserve comes after a prior amendment, the fixAMMOverflowOffer went live on the mainnet. Towards the end of Q1, 2024, XRPL hinted at the coming of the fixAMMOverflowOffer amendment on the AMM engine.
This amendment, viewed as one of the most important on the XRP Ledger, aims to fix the improper handling of large synthetic AMM offers in the payment engine.
The process of the passage of the amendment was a hurdle. As tracked by Coingape, the fixAMMOverflowOffer proposal initially registered a total of 20 Yes votes and 15 Nos, a count that was below what was needed to hit consensus. Moreover, most of its supporters pulled back their votes forcing the reset of the 14-day countdown, and the voting process was conducted all over again.
At the time when Coingape reported the new development, there were no signs it would scale through, however, in a last-minute twist, the fixAMMOverflowOffer has eventually passed and is now live on the mainnet.
The prompt launch of the fixNFTokenReserve shows how dynamic the blockchain is and the hopes for more updates in the long term.
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