David Schwartz, chief technology officer at Ripple, has argued in favour of validators for the XRP Ledger (XRPL) supporting an automated market maker (AMM) feature, but only if there is community agreement.
Schwartz mentioned the XRPL’s AMM feature on X (previously Twitter). Schwartz described AMMs as an intriguing aspect of decentralised finance in his initial essay.
The XRP Ledger’s native asset is a decentralised blockchain. It is popular for being quick and scalable, making it appropriate for many financial applications, including remittances and cross-border payments.
If the majority approves the amendment, the modifications could be put into effect in as soon as two weeks, according to Schwartz in answer to a community member’s query regarding when AMMs will be live on the XRPL following governance voting.
Schwartz elaborated on the significance of a majority vote, emphasising that, to the best of his knowledge, no validators at this time support the vote. With the release of rippled version 1.12.0, which also included the probable clawback feature, the AMM feature was introduced. The addition of an AMM will allow interaction with the XRPL decentralised exchange in addition to the introduction of a new trading engine.
Despite the importance attached to this feature, Schwartz cautioned validators from casting their own votes to support these changes. He instead stressed that “the community should reach a consensus first, and then validators should overwhelmingly vote YES when they perceive that the community is in agreement and sufficient nodes endorse the adjustment.”
In addition to playing a significant part in Ripple, Schwartz is also known for his insightful writing and dedication to promoting decentralisation.
Recently, he cleared up misconceptions about the clawback mechanism, which is frequently viewed as an intrusion on XRPL users. He made it clear that the function’s primary goal is to protect developers within the ecosystem from potential legal consequences.