The decentralized finance ecosystem in XRP, managed by its decentralized network XRP Ledger (XRPL), has progressed after adopting the automated market maker(AMM) functionality.
Per a post on X (formerly Twitter) by XRPScan, the first AMM liquidity pools were created just a few minutes after the AMM features went live. Some pools now hold hundreds of millions of tokens, supporting pairs such as XRP/USD and XRP/BTC.
AMM is now live on XRPL mainnet! First few pools are rolling in 😀 – https://t.co/RR0LsMcvEG pic.twitter.com/epnT2QESzS
— XRPScan (@xrpscan) March 22, 2024
Automated Market Makers (AMMs) rely on mathematical algorithms to quote cryptocurrency prices and facilitate trades for users through liquidity pols. This approach enables anyone to participate as a liquidity
Read More »