RippleX, the development arm behind the XRP Ledger (XRPL), has identified a technical glitch affecting Automated Market Maker (AMM) pools, prompting the suspension of deposits and withdrawals. The glitch has disrupted transactions within these pools, impacting their basic functionalities.
In response to the issue, RippleX has advised users against depositing funds into AMM pools and recommended liquidity provider (LP) token holders to withdraw their funds until the glitch is resolved. These preventive measures aim to mitigate further complications stemming from the glitch.
AMM pools play a crucial role as liquidity sources in decentralized exchanges (DEXs), facilitating asset trading without traditional order books. However, the glitch has hindered transaction execution within some AMM pools on XRPL, leading to incorrect processing and necessitating urgent resolution.
RippleX developers are actively collaborating with community members to address the glitch. The issue has prompted several projects utilizing XRPL pools to suspend their connections, including Sologenic and Anodos.
Community reactions to the glitch have been mixed, with some expressing concerns about the network’s reliability and others praising RippleX’s transparency in addressing the issue.
The XRPL AMM, launched on March 22 after the XLS-30D amendment, has seen significant growth, with over 1,000 liquidity pools created. Notably, one of the largest liquidity pools is the PCSH/XCASH pair, with a substantial balance in LPToken.
David Schwartz, Ripple’s CTO, described the launch as the beginning of a “longer road” toward upcoming milestones. However, complications have arisen despite rigorous testing by RippleX developers, as seen in a previous discovery of an issue related to AMM transaction execution in January.
Despite the challenges, RippleX remains committed to resolving the glitch and ensuring the stability and functionality of XRPL’s AMM pools for users and projects alike.
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