In the grand theater of XRP, a new act has begun with the AMMClawback amendment gracing the XRP Ledger stage. Enter RLUSD, Ripple‘s stablecoin, now playable on the DEX!
The AMMClawback amendment brings clawback-enabled tokens to Automated Market Makers (AMMs). This addition allows issuers to reclaim tokens deposited in an AMM if the token has clawback capabilities. It also amends the “AMMdeposit” transaction type, preventing the deposition of frozen tokens into the AMM.
As this amendment goes live, a cautionary note echoes through the XRP community. Vet, an XRP dUNL validator and co-founder of xrpcafe, warns users of liquidity provision risks. With a touch of sarcasm, Vet reminds users to avoid jumping into the pool without knowing the risks:
PLEASE: Don’t deposit liquidity into the pool if you don’t know what you’re doing. Guaranteed impermanent loss will be in full effect.
Swapping assets if you agree on the rate is ok 👍 Providing liquidity only for those knowing the game.
— Vet (@Vet_X0) January 30, 2025
Following the amendment’s activation, four AMM Pools with RLUSD pairs have emerged on the XRP Ledger DEX. Vet celebrates this as a gamechanger for XRP Ledger DeFi and the foundation for building deep liquidity on the XRPL DEX.
But Vet’s warning remains:
“Don’t deposit liquidity into the pool if you don’t know what you’re doing. Guaranteed impermanent loss will be in full effect. Swapping assets if you agree on the rate is ok. Providing liquidity only for those knowing the game.”
In just a few short hours, the XRP/RLUSD AMM Pool has already amassed a whopping $220,000 in total value locked!
Ripple’s Stablecoin Wisdom
In a recent insights report, Ripple offered policymakers recommendations as the stablecoin market booms to $200 billion. Among their suggestions:
- Support various stablecoins, including those issued overseas.
- Take a risk-based approach to overseas issuers, allowing them to circulate with reasonable safeguards.
- Require local regulated entities to meet redemption requests when local issuance is necessary.
- Promote supervisory cooperation between jurisdictions to increase fungibility.
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2025-01-31 15:50