RippleX Promises Resolution of Technical Glitch in AMM Pool on XRPL

RippleX, the development arm of the blockchain-based digital payment protocol Ripple Labs Inc recently promised to resolve a technical glitch affecting certain Automated Market Maker (AMM) pools on the XRP Ledger (XRPL).

RippleX Identifies XRPL Technical Glitch

In an official post on the X platform, RippleX stated, “We’ve identified a discrepancy in a few AMM pools, in which transactions are not executing as intended.” This issue has disrupted the smooth operation of transactions within these pools, prompting management to send a notice to its user base regarding fund deposits.

We’ve identified a discrepancy in a few AMM pools, in which transactions are not executing as intended. Our engineering team is working to resolve the issue alongside community participants. Out of an abundance of caution, it’s best not to deposit new funds into AMM pools for…

— RippleX (@RippleXDev) March 23, 2024

To speed up the troubleshooting process, the company has engaged with community members and pledged to immediately resolve the issue. As a precautionary step, RippleX has urged customers not to deposit fresh funds into the concerned AMM pools. 

RippleX Recommendation to LP Token Holders

Furthermore, individuals who own Liquidity Provider (LP) tokens in these pools are advised to redeem them until the problem is fixed. This proactive strategy tries to reduce potential issues caused by the issue while protecting user interests. RippleX also promised to keep users informed about the status of the resolution efforts.

Ripple’s CTO Defends XRP Ledger’s Value

David Schwartz, the Chief Technology Officer (CTO) of Ripple, recently defended the XRP Ledger in an online debate against those who called it a “zero-sum game.” Schwartz underlined that customers gladly pay transaction fees in exchange for the beneficial services provided by the XRP Ledger, emphasizing its function in supporting a range of financial operations and enabling effective asset transfers. 

This explanation highlights the benefits of the XRPL in addition to value transfer, presenting it as a strong foundation for a variety of financial activities.

Proposed Governance Reform on XRPL

Meanwhile, David Fueling, a renowned engineer connected to RippleX, has provoked conversations in the XRP community by suggesting changes to the XRP Ledger Foundation’s (XRPLF) governance framework. Fueling’s plan seeks to advance democratic and decentralized procedures within the Foundation in line with the expanding acknowledgment of the XRPL network’s architecture by different protocols.

Notably, the XRP Ledger recently closed its 86 millionth ledger. The current ledger index, as provided by XRP Ledger Services, is 86,201,363, indicating continued activity and expansion of the ledger.