XRP recently reached a major milestone in the decentralized finance (DeFi) market. According to XRPscan, the total amount of XRP pooled in the XRPL Automated Market Maker (AMM) has surpassed 10 million XRP. This important milestone highlights the growing adoption and usage of XRP in DeFi.

AMM is a type of decentralized trading mechanism that uses a liquidity pool to algorithmically price assets instead of creating incentives on pre-set specifications. Liquidity pools allow holders to earn a portion of transaction fees by providing their tokens as liquidity.

In the case of the XRP Ledger, the built-in central limit order book (CLOB) handles all XRPL transactions for fungible tokens.

CLOB is a system that organizes trading orders from buyers and sellers in a trading platform, where trading orders are organized and publicly displayed for all market participants to view and view. execute their trading orders.

CLOB has been an integral part of XRPL since its inception and offers the benefits of reduced trust assumptions and centralized liquidity provision, as opposed to losses within contracts. smart copper.

In addition to the existing CLOB, an AMM was elected to the protocol in Q1 2024, as stipulated by the XLS-30 standard.

The growth in the amount of XRP locked in the AMM pool to 10 million XRP reflects strong interaction with XRPL's infrastructure.

As the total amount of XRP pooled in the XRPL AMM increases, it could attract even more participants to the XRP Ledger.#Xrp🔥🔥 #Write2Win #binance