RippleX addresses XRP ledger’s AMM pool error, advises user caution

Amaka Nwaokocha8 hours agoRippleX addresses XRP ledger’s AMM pool error, advises user cautionDue to the continuing technical issue, RippleX has recommended its users no longer deposit funds into the affected AMM pools.3768 Total views5 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksRippleX, the development division of Ripple, revealed a technical issue affecting Automated Market Maker (AMM) pools on the XRP Ledger. This glitch disrupts transactions and pools, prompting the management to update users about fund deposits.

According to a post on the X social platform, the technical team at RippleX has identified a discrepancy in a limited number of AMM pools on the XRP Ledger, leading to transactions being processed incorrectly.

AMM pools are liquidity pools used in decentralized exchanges (DEXs) to facilitate trading without the need for traditional order books. In an AMM pool, traders can swap assets directly with the pool rather than with other traders. The pool contains reserves of various assets, and prices are determined algorithmically based on the ratio of assets in the pool.Source: RippleX 

Due to the continuing technical issue, RippleX has recommended its users no longer deposit funds into the affected AMM pools. This preventive action is meant to eliminate any possible complications that the current glitch may cause. Those with liquidity provider (LP) tokens in these pools are advised to redeem them until the matter is resolved.

Nevertheless, RippleX’s technical team is actively addressing the bug, focusing on restoring regular operations within the AMM pools. The company said it is committed to resolving this issue promptly and has engaged with community members to assist in troubleshooting.

Related: Coreum advances blockchain interoperability with XRPL Bridge: Enhanced liquidity across 100+ IBC-enabled chains

XRP Ledger (XRPL) users and AMM pool stakeholders are advised to stay tuned for updates from RippleX via its official communication channels. The crypto community has responded warmly to the revealed technical issue affecting AMM pools on the XRP Ledger.

A community member identifying as FarhanSiYal13 on the X social platform expressed gratitude to RippleX for the heads-up. He extended his appreciation for the transparency and proactive approach used in addressing the AMM pool discrepancies and applauded RippleX’s diligence in maintaining the integrity of the ecosystem.

The recent introduction of the AMM feature by the XRPL has generated significant excitement and support, leading to the creation of over 1,000 liquidity pools, according to an update from XRPScan. This milestone marks a significant expansion in the diversity of assets available within these pools.

According to the data, one of the most extensive liquidity pools features the XRP/XCASH pair with the AMM account identified as “rUCLr….ABx6D” and a balance of 273,184,692.307334 LPToken.

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