RippleX has reported a technical glitch affecting some automated market maker (AMM) pools on the XRP Ledger (XRPL).
The glitch has disrupted transactions within these mining pools. The RippleX team reminded users through a post on the X platform that it is recommended not to deposit new funds into the AMM pool. Those holding liquidity provider (LP) tokens have been advised to withdraw their funds until the issue is resolved.
These precautions are intended to avoid further complications due to malfunctions.
AMM pools act as a source of liquidity in decentralized exchanges (DEX). They allow trading of assets without a traditional order book. Traders can exchange assets with the pool without involving other users. These pools hold reserves of various assets.
The glitch affected transaction execution in some AMM pools on XRPL, causing them to not be processed correctly. As a result, the basic functionality of the pool is compromised and needs to be addressed quickly.
The developers are currently working with community members to actively work on resolving this glitch.
The issue has prompted several projects using the XRPL pool to suspend connections to it. Sologenic, a platform for trading tokenized stocks on XRPL, stopped deposits after RippleX announced a pause. Anodos, the company best known for its trading platform AnodoSwap on XRP Ledger, has also decided to suspend its services.
Community reaction has been mixed.
Some users expressed concerns about the reliability of the network after the failure. One user expressed dismay at the situation, claiming "the chain is dead." However, other users were more supportive, with some praising the RippleX team for being transparent on the matter.
Following the adoption of the XLS-30D amendment on January 31, the XRPL AMM went live on March 22. According to data from XRPScan, this new feature has resulted in the creation of more than 1,000 liquidity pools, greatly achieving the diversity of available assets. Among them, one of the largest liquidity pools is the PCSH/XCASH pair. On the XRP Ledger (XRPL), there is a specific Automated Market Maker (AMM) account named "rM8W….cX1h", and the Liquidity Provider (LP) tokens held in this account The number is 13,136,629,099.06384. .
David Schwartz, Ripple’s chief technology officer, described the launch as the beginning of a “longer road” from the initial launch to upcoming milestones. .
Despite rigorous testing by RippleX developers, complications emerged. Back in January, the team reported discovering an “issue” that could prevent AMM transactions from being executed immediately. This problem arises when transaction fees are set below the minimum threshold of 0.01%. #RippleX #XRPLedger
