XRP Ledger Approves fixAMMv1_1 Amendment, Enhancing Liquidity for Traders

• The fixAMMv1_1 amendment, supported by 91.43% of validators, introduces decentralized trading directly on the XRP Ledger, enhancing efficiency for users.
• This update to the XRPL mainnet aims to boost liquidity, following the successful fixAMMOverflowOffer update, which achieved 100% consensus in April.
• Despite the amendment’s release, XRP’s price dropped by 0.71% in 24 hours, reflecting mixed sentiment in the crypto ecosystem.

The XRP Ledger has successfully launched the fixAMMv1_1 amendment, an eagerly anticipated update that aims to enhance decentralized trading directly on the platform. This significant upgrade, now part of the mainnet, introduces new features designed to improve liquidity and efficiency for blockchain traders. The amendment has been in development for some time and was enabled this month after receiving strong consensus from network validators.

As with all amendments on the XRP Ledger, fixAMMv1_1 required majority approval before activation. Validators on the network needed to achieve a consensus of at least 28 out of 35 votes for the amendment to pass. This process ensures that any changes or upgrades to the platform are widely supported by its decentralized network.

According to data from XRPScan, the fixAMMv1_1 amendment received a favorable vote from 32 validators, securing a 91.43% consensus. Once this threshold was reached, the amendment remained approved for two weeks, after which it was implemented on the XRPL mainnet. The primary objective of this upgrade is to facilitate decentralized trading, providing enhanced opportunities for users within the ecosystem.

Previous Updates: fixAMMOverflowOffer and Its Impact

This latest amendment is just one in a series of significant updates rolled out by the XRP Ledger. Earlier in April, the platform implemented the fixAMMOverflowOffer update, which was designed to resolve an issue in the payment engine. Specifically, it fixed the handling of large synthetic automated market maker (AMM) offers, ensuring smoother and more accurate transactions.

Unlike the fixAMMv1_1 amendment, which reached 91.43% approval, the fixAMMOverflowOffer update achieved unanimous support, with 100% of validators voting in its favor. These upgrades highlight the ongoing efforts to improve functionality and maintain the integrity of the XRP Ledger’s trading and payment infrastructure.

XRP Price Reaction and Market Sentiment

Despite the significance of the fixAMMv1_1 amendment, XRP, the digital asset associated with Ripple’s blockchain, did not see an immediate price increase. At the time of writing, XRP was trading at $0.5851, reflecting a 0.71% decline in the last 24 hours. Additionally, the coin’s trading volume dropped by approximately 10%, signaling tempered market enthusiasm following the upgrade.

Nevertheless, XRP remains a widely traded crypto asset, currently ranked ninth by trading volume, with $903.8 million exchanged in the past day. As the XRP Ledger continues to evolve, the long-term impact of these amendments on the ecosystem remains to be seen.