Ripple CTO Advocates for XRPL AMM Feature with Community Consensus
Ripple's Chief Technology Officer, David Schwartz, has called upon validators of the XRP Ledger (XRPL) to consider supporting the adoption of an automated market maker (AMM) feature, but only if a consensus is reached within the community.
Schwartz initiated a discussion on XRPL's AMM feature on the social platform X (formerly known as Twitter). In his initial post, he referred to AMMs as an intriguing aspect of decentralized finance (DeFi).
The XRP Ledger is a decentralized blockchain that utilizes XRP as its native asset. It is renowned for its speed and scalability, making it suitable for various financial applications, including cross-border payments and remittances.
Responding to a community member's inquiry about the timeline for implementing AMMs on the XRPL following governance voting, Schwartz indicated that if the majority of the community supports the amendment, the changes could be implemented in as little as two weeks.
Elaborating on the importance of a majority vote, Schwartz emphasized that, to the best of his knowledge, no validators currently endorse the vote. The introduction of the AMM feature came with the release of rippled version 1.12.0, which also introduced the potential clawback feature. The addition of an AMM not only involves the introduction of a new trading engine but also enables integration with the XRPL decentralized exchange.
Despite the significance of this feature, Schwartz advised validators against voting independently to promote these modifications. Instead, he stressed the need for "the community to reach a consensus first, and then validators should overwhelmingly vote YES when they perceive that the community is in agreement and sufficient nodes endorse the adjustment."
In addition to his prominent role at Ripple, David Schwartz is well-known for his informative articles and commitment to promoting decentralization.
Recently, Schwartz addressed misconceptions regarding the clawback feature, which had been viewed by some as an intrusion on XRPL users. He clarified that the feature is intended to protect developers from potential legal liabilities within the ecosystem.