RippleX, the innovation arm of Ripple, has disclosed a technical glitch affecting Automated Market Maker (AMM) pools on the XRP Ledger, prompting a cautionary advisory to its users.
In a recent announcement on social media, RippleX’s technical team acknowledged an anomaly within a limited number of AMM pools on the XRP Ledger, causing disruptions in transaction processing.
AMM pools, crucial components of decentralized exchanges (DEXs), facilitate trading by allowing users to swap assets directly with the pool, bypassing traditional order books. These pools maintain reserves of various assets, with prices determined algorithmically based on asset ratios.
Given the ongoing technical challenge, RippleX has advised against depositing funds into the affected AMM pools as a precautionary measure to avoid potential complications. Users holding liquidity provider (LP) tokens in these pools are encouraged to redeem them until the issue is resolved.
However, RippleX’s technical team is actively working to rectify the bug, aiming to restore normal operations within the AMM pools promptly. The company has engaged with the community to assist in troubleshooting efforts.
In response to the announcement, members of the crypto community have appreciated RippleX’s transparency and proactive approach in addressing the AMM pool discrepancies. A user, known as FarhanSiYal13, expressed gratitude for the timely communication and applauded RippleX’s commitment to maintaining ecosystem integrity.
The introduction of the AMM feature on the XRPL has garnered significant enthusiasm, leading to the creation of over 1,000 liquidity pools, according to data from XRPScan. This development signifies a notable expansion in asset diversity within these pools.
Users and stakeholders are advised to stay updated on developments through RippleX’s official communication channels as efforts to resolve the AMM pool issue continue.
