Updates on the development of XLS-30d, which attempts to provide AMM capabilities to XRPL, have been released by the XRP Ledger development and support team, RippleX.
In order to create a protocol native automated market maker (AMM) connected with the order book-based DEX on XRP Ledger, the RippleX team presented the XLS-30d technical specification last year.
XLS-30d went online on devnet in November 2022 and is now being tested. According to a blog post by RippleX, the community has achieved great advancements in testing and development since the devnet debut.
To test its operation, hundreds of AMM pools have been established on the devnet, and many more wallets have been linked. The RippleX team has also introduced AMM support for the xrpl.org explorer, three client libraries (xrpl.js, xrpl-py, and xrpl4j).
What comes next?
According to the blog post, voting to add XLS-30d to the XRPL mainnet will start once a fresh amendment proposal is anticipated soon.
If at least 80% of the validator community votes “yes,” and if that percentage holds for at least two weeks, the change is considered approved. The modification request to add the XLS-30d to the mainnet will be authorised if both of those conditions are satisfied.
The XLS-30d protocol is still being thoroughly tested for XRP Ledger stability in the meantime.
Numerous possibilities
Developers may simply interact with the AMM and construct their own front-end trading and liquidity supply interfaces thanks to the XLS-30d protocol’s XRPL native architecture.
The continuous auction process in XLS-30d encourages arbitrageurs to contend for the privilege to seize price discrepancies, while minimising temporary losses.
Nevertheless, the development of new financial applications and integration with non-financial applications are the two main use cases for XLS-30d AMM integration.
