Ripple X discovers glitch on XRP Ledger, suspends deposits

RippleX reports a technical glitch affecting XRP Some automated market maker (AMM) pools on Ledger (XRPL).

This issue has caused disruption to transactions within these mining pools. The RippleX team published a post on the X platform to remind users not to inject new funds into the AMM pool. Those holding liquidity provider (LP) tokens have been advised to withdraw their funds until the issue is resolved.

These precautions are intended to avoid further complications due to malfunctions.

AMM pools play a vital role in decentralized exchanges (DEX), they provide a source of liquidity for trading. Unlike traditional order books, AMM pools allow users to trade assets without interacting directly with other traders. By trading with the pool, users can exchange assets quickly and efficiently. These pools hold a variety of different asset reserves, providing traders with a wider range of choices and a more flexible trading experience.

Some AMM pools on XRPL were affected by the glitch and were unable to execute transactions normally. This results in the core functionality of the pool being compromised and this issue needs to be addressed promptly.

The developers are currently working with community members to actively work on resolving this glitch.

Multiple projects using the XRPL pool have stopped connecting to it due to this issue. For example, Sologenic, a platform that trades tokenized stocks on XRPL, stopped accepting deposits after RippleX announced the suspension. Separately, Anodos, a company best known for its trading platform AnodoSwap on XRP Ledger, has also made the decision to suspend its services.

Community reaction has been mixed.

Some users expressed concerns about the reliability of the network after the failure. One user expressed dismay at the situation, claiming "the chain is dead." However, other users were more supportive, with some praising the RippleX team for being transparent on the matter.

Following the adoption of the XLS-30D amendment on January 31, the XRPL AMM went live on March 22. According to data from XRPScan, this new feature has resulted in the creation of more than 1,000 liquidity pools, greatly achieving the diversity of available assets. Among them, one of the largest liquidity pools is the PCSH/XCASH pair. On the XRP Ledger (XRPL), there is a specific Automated Market Maker (AMM) account named "rM8W….cX1h", and the Liquidity Provider (LP) tokens held in this account The number is 13,136,629,099.06384. .

David Schwartz, Ripple’s chief technology officer, described the launch as the beginning of a “longer road” from the initial launch to upcoming milestones. .

Despite rigorous testing by RippleX developers, complications emerged. Back in January, the team reported discovering an “issue” that could prevent AMM transactions from being executed immediately. This problem arises when transaction fees are set below the minimum threshold of 0.01%.

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