XRP Community Locks Tokens on AMM Pools After Amendment Fix: Over 820,000 XRP Locked
In the wake of a recent amendment fix, the XRP community has mobilized to lock their tokens on various automated market maker (AMM) pools as trading resumes.
In a notable post on X, community member Krippenreiter highlighted the surge in XRP tokens locked on AMM pools. At the time of the update, approximately 604,000 XRP assets had been locked across 201 liquidity pools.
Remarkably, within a mere three hours, this number swelled by over 200,000 XRP. Presently, data from the XRP explorer XRPScan reveals that 820,657 XRP coins have been locked across 220 active AMM pools.
The largest liquidity pool involves the USDC/XRP pair, boasting 184,528 tokens locked with an LP token balance of 122,448,940 at press time. Following closely is the XRPS/XRP pair, with 122,499 tokens locked and an LP token balance of 2,216,844,170.
Recent AMM Amendment Fix
Previously, XRPL AMM pools experienced diminished activity over the past two weeks, declining steadily from 534,000 after the AMM launch on March 22 to as low as 279,000 XRP on April 6. This recent surge in locked-up tokens contributes to reducing the supply of tokens available in the market.
The decline occurred as several AMM pools ceased trading due to a technical glitch discovered by developers just two days after the XRPL AMM launch. Upon investigation, the RippleX team identified discrepancies in certain AMM pools where transactions were not executing as intended. Consequently, participants were advised against depositing new funds into AMM pools, with holders of LP tokens encouraged to consider redeeming them.
Efforts to address the issue were swiftly initiated by the engineering team and community members. These efforts culminated in the resolution of the issue through the "fixAMMOverflowOffer" amendment. With the amendment now live, AMM pools have resumed activities, with nearly 1 million XRP tokens locked.
Robert Petrov publication: "XRP Community Moves to Lock Tokens on AMM Pools Following Amendment Fix" was written for 24crypto.news
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