Ripple CTO David Schwartz has shed new light on the automated market maker (AMM) feature proposed for the XRP Ledger (XRPL) ecosystem. Schwartz, renowned for his expertise in the field, has reiterated the paramount importance of aligning validators’ votes with the collective voice of the community.
Triggering widespread discussions among XRPL participants, Schwartz took to the widely acclaimed communication platform “X” to share his insights on the revolutionary potential of AMMs within the decentralized finance (DeFi) realm.
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Describing AMMs as the “weird DeFi trick everyone’s talking about,” Schwartz’s compelling post sparked numerous inquiries from community members who are eager to gain a deeper understanding of the subject.
In general though, validators shouldn't vote YES individually. The community should make a decision and then validators should nearly all vote YES when they believe the community is on board and enough nodes support the change.
The amendment voting process is intended to…
— David "JoelKatz" Schwartz (@JoelKatz) October 6, 2023
Emphasizing the essence of community-driven governance, Schwartz, in response to queries about the timeline for implementing the AMM feature post-voting, revealed that a quick two-week turnaround could be anticipated if the amendment garners significant support from the majority.
Remarkably, Schwartz said thus far, no validator has publicly expressed backing for the proposed vote, a noteworthy fact highlighting the absence of consensus within the XRPL ecosystem regarding this particular amendment.
The introduction of the AMM feature coincided with the release of Ripple version 1.12.0, which also unveiled the potential Clawback feature. While the AMM feature ushers in a novel trading engine, it also fosters a crucial link with the XRPL decentralized exchange (DEX), opening new avenues for seamless transactions and enhanced liquidity.
Despite the undeniable significance attributed to the AMM feature, Schwartz issued a rallying call, cautioning validators against casting solitary votes in their eagerness to expedite the proposed changes. Instead, he emphasized the necessity of a united stance from the community, urging validators to collectively vote “YES” once they are confident that an overwhelming number of nodes and community members support the amendment.
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Beyond his role as a CTO at Ripple, David Schwartz is renowned for his unwavering commitment to education and his tireless advocacy for the principles of decentralization.
In a commendable effort to dismantle misconceptions surrounding the Clawback feature, Schwartz recently clarified that its primary aim lies in safeguarding developers within the XRP Ledger ecosystem from potential legal risks, rather than intruding upon the privacy or security of XRPL users.
Schwartz’s unyielding faith in the evolution of the XRPL ecosystem continues to shape his unwavering stance. With his influential ideas and invaluable contributions, Schwartz consistently propels the XRPL toward a future of limitless possibilities.
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