The XRP Ledger (XRPL) community has achieved a major milestone with the approval of the XLS-30 amendment, paving the way for the introduction of an automated market maker (AMM) feature. This exciting development creates opportunities for XRP holders to earn passive income.
That was quick !! š³
The activation flag for Automated Market Maker for the XRP Ledger ist set !! We have all yes votes needed.
The AMM is officially coming and it's activation period !
ETA for AMM activation Feb 14th š«” pic.twitter.com/3yvQIF3Vpb
— Vet š“āā ļø (@Vet_X0) January 31, 2024
Read Also: Expert Shares How XRP Holders Can Earn Passive Income On XRP Ledger AMM
Overwhelming Support from Validators
The amendment received overwhelming support from the XRPL validator community, with an impressive 85.71% consensus achieved. Key players such as Ripple, Bithomp, Alloy Networks, Vet, and Bitrue voted in favor of the proposal. This strong support reflects the community’s confidence in the potential benefits of the AMM feature.
The amendment is scheduled to go into effect on February 14, 2024, which is Valentine’s Day. This has sparked playful comparisons within the community, highlighting the anticipated excitement surrounding the arrival of the AMM.
Addressing Concerns and Delays
While we celebrate the passage of the amendment, it’s important to acknowledge the initial concerns and delays that arose during the voting process. Some community members expressed frustration at the perceived slow pace, while others emphasized the standard timeline for amendments.
Additionally, concerns were raised about potential risks associated with the AMM, such as frontrunning and market manipulation. These concerns led hesitant validators to thoroughly evaluate and discuss before ultimately casting their votes in favor. This collective effort ensured a well-informed decision by the community.
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— TimesTabloid (@TimesTabloid1) July 15, 2023
Read Also: Ripple CTO Reveals How XRP Holders Can Earn Passive Income With XRP
Passive Income Potential with Caution
With the AMM feature, XRP holders will have the opportunity to become liquidity providers and potentially earn passive income. However, it’s crucial to understand that engaging in such activities carries inherent risks. It’s important to conduct thorough research and gain a clear understanding of the mechanics involved before venturing into liquidity provision.
The AMM amendment represents a significant step forward for the XRPL ecosystem, potentially unlocking new opportunities for participation and growth. As the community prepares for its implementation, ongoing education and responsible engagement will be key to maximizing the benefits and minimizing the risks associated with this innovative feature.
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