Here’s How XRP Holders Are Now Significantly Nearer to Earning Passive Income by 60%

Majority of Validators Back XLS-30D AMM Amendment, Opening Doors for XRP Ledger Community

Exciting developments are underway for the XRP Ledger community as a strong consensus of 60% has been achieved in favor of the XLS-30D Automated Market Maker (AMM) Amendment. This significant increase from the previous rate of 57% is a positive indication towards potential approval.

The XLS-30D AMM Amendment, originally disclosed with a 57.14% consensus, now boasts a 60% approval rate, with 21 validators endorsing the amendment. This is a remarkable jump from the previous count of 16 yes and 18 no votes on December 7. This progress is paving the way for potential approval.

The XLS-30D AMM Amendment holds great promise for XRP holders as it integrates AMM functionality into the XRPL. By participating in liquidity pools on decentralized exchanges, users can earn passive income from exchange fees while managing exchange risks.

Fundamentally, the amendment introduces a liquidity staking pool, inviting XRP holders to actively participate. Each AMM instance has a dedicated account that secures assets and issues liquidity pool tokens to contributors. Holders have the power to influence the AMM’s trading fee based on their LP asset share.

The XRP community has shown strong interest in AMM liquidity provider services, with 75% expressing a willingness to participate in a Stedas poll. The potential introduction of smart contract functionality, which requires an 80% validator endorsement, opens doors for XRP holders to diversify their earnings.

Addressing concerns about market volatility and manipulation, the XLS-30D code base underwent a thorough audit by CertiK, receiving an impressive security score of 95/100.

With increasing consensus, the XRP community looks forward to new opportunities for passive income. The journey towards potential AMM Amendment approval is paving the way for a brighter future.

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Ripple (XRP)