RippleX, the group working on the XRP Ledger (XRPL), has found a glitch with Automated Market Maker (AMM) pools, halting deals in these important sources of liquidity. Because of the glitch, RippleX has quickly taken steps to protect users. Users are asked not to put funds into affected AMM pools until the problem is fixed.
A recently discovered glitch has stopped transactions in some AMM pools on the XRPL, rendering their basic functions useless. Because of this, RippleX has told its users through X, with liquidity provider (LP) tokens, to temporarily withdraw their funds to avoid problems arising from the glitch.
RippleX Reacts to Halting Deposits Amid AMM Pool Glitch
AMM pools play a pivotal role in decentralized exchanges (DEXs), offering liquidity for asset trading without the need for traditional order books. However, the current glitch has impaired the seamless operation of these pools, necessitating immediate attention and resolution from the development team.
RippleX coders are working with people in the community to fix the bug and get the affected AMM pools back to routine. Several XRPL-based projects that depend on these pools have already briefly cut off their connections because of the problem. After RippleX’s news, Sologenic, a platform that lets you trade tokenized stocks on the XRPL, and Anodos, which runs the XRPL interface AnodoSwap, stopped accepting deposits.
Community reactions to the glitch have been varied, with some expressing concerns about the reliability of the XRPL network in light of the incident. While some users have voiced frustration, labeling the chain “dead,” others have commended RippleX for their transparency in addressing the issue.
The XRPL AMM pools were launched on March 22, following the successful passage of the XLS-30D amendment on January 31. This new feature created over 1,000 liquidity pools, significantly expanding the range of assets available for trading. Notably, one of the largest liquidity pools is the PCSH/XCASH pair, with the AMM account boasting a substantial balance of 13,136,629,099.06384 LPToken.
David Schwartz, Ripple’s Chief Technology Officer (CTO), has described the launch of AMM pools as the beginning of a “longer road,” indicating upcoming milestones for the XRPL ecosystem. However, the recent glitch underscores the challenges encountered despite rigorous testing by the RippleX development team. Earlier in January, the team had identified an “issue” related to AMM transactions, highlighting the complexities inherent in maintaining the XRPL infrastructure.
