RippleX has advised its users not to deposit money into the impacted AMM pools due to the ongoing technical problem.
The Automated Market Maker (AMM) pools on the XRP Ledger are experiencing a technical problem, as disclosed by RippleX, the company’s development branch. The management has to notify users about fund deposits because this bug interferes with transactions and pools. A statement on the social media site X states that a disparity in a small number of AMM pools on the XRP Ledger has been found by the RippleX technical team, causing transactions to be handled improperly.
Liquidity pools known as AMM pools are utilised by decentralised exchanges (DEXs) to enable trading without requiring conventional order books. Instead of trading with other traders, traders can swap assets directly with the pool in an AMM pool. The pool comprises reserves of diverse assets, and prices are established using an algorithmic process that considers the asset ratio inside the pool.
As a result of the ongoing technical problem, RippleX advises its users to stop making deposits into the impacted AMM pools. The goal of this precautionary measure is to get rid of any potential problems that the current issue might create. It is recommended that holders of liquidity provider (LP) tokens in certain pools redeem them until the issue is settled.
However, the technical team at RippleX is actively working to fix the issue, with an emphasis on getting regular operations back in the AMM pools. The business stated that it has partnered with community members to help with debugging and is dedicated to finding a quick solution to this problem.
Users of the XRP Ledger (XRPL) and other interested parties in the AMM pool are encouraged to monitor RippleX’s official communication channels for developments. The disclosed technical problem impacting AMM pools on the XRP Ledger has received positive feedback from the cryptocurrency community.
A community member on the social media platform X who goes by the handle FarhanSiYal13 thanked RippleX for the alert. He praised RippleX’s diligence in preserving the ecosystem’s integrity and expressed his gratitude for the openness and proactive approach taken in resolving the AMM pool disputes.
According to an update from XRPScan, the recent launch of the AMM feature by the XRPL has created a great deal of excitement and support, resulting in the development of over 1,000 liquidity pools. The diversity of assets available inside these pools has significantly expanded as a result of this milestone.
The XRP/XCASH pair with the AMM account known as “rUCLr.ABx6D” with a balance of 273,184,692.307334 LPToken is one of the largest liquidity pools, according to the statistics.