u.today
The XRP Ledger (XRPL) protocol is set to ship in a major update to the Automated Market Maker (AMM) feature that went live on the mainnet in the past week.
Need for AMM amendment
Dubbed the "fixAMMOverflowOffer," this update was shipped as a means to address "the improper handling of large synthetic AMM offers in the payment engine."
With the AMM feature launch, a technical glitch was discovered that necessitated revamped work to forestall related changes to the network. While the protocol is running well at the moment, the fixAMMOverflowOffer will come in handy as the AMM engine sees more adoption and users over time.
While listed for voting, the feature’s default vote in the source code was set to YES, the importance of the fix is high. The validators backed this amendment and secured 30 positive votes out of a possible 35, a figure that pegs the current consensus at 85.17%, a boost from the required consensus of 80%.
The voting pattern from network validators gives more insight into the major players who supported this amendment. While firms like Ripple Labs Inc voted Yes to the proposal, trading platform Bitso joined four other validators to vote Nay.
The update has now entered the 14-day activation countdown with an ETA of April 11.
XRP Ledger and strategic growth
XRP Ledger has a very ambitious mission, which is to match up with other known layer-1 protocols in the blockchain ecosystem.
To achieve its aim, debuting innovative protocols like the AMM marks one of its major strategies. This AMM launch also complements previous update releases like the Clawback feature, which went live on the mainnet weeks ago.
The Clawback feature aims to protect developers from risks associated with hacks and other fraudulent transactions. Amid all the updates it has implemented, the XRPL has some other upgrades in the pipeline, including "fixInnerObjTemplate" and "fixNFTokenReserve," among others.