Ripple Update: XRP Investors Inch 60% Closer to Earning Passive Income – Discover the Method

In a recent Twitter post, Panos Mekras, the founder of Anodos Finance, shared some exciting news for the XRP Ledger community. The XLS-30D Automated Market Maker (AMM) Amendment has gained significant support, with 20 validators voting in favor, resulting in a strong 60% consensus. This development bodes well for the amendment’s approval and presents a positive outlook for the XRP Ledger community.

Initially, the XRPScan data from the XRPL blockchain explorer revealed a 57.14% consensus for the AMM amendment. However, the approval rate has now increased to 60%, with 21 validators endorsing the amendment. This is a significant improvement from the previous vote, which had 16 yes and 18 no votes on December 7.

The XLS-30D AMM Amendment holds great potential for XRP holders as it offers a pathway to passive income. By integrating Automated Market Maker functionality into the XRPL, the amendment allows users to contribute liquidity to decentralized exchanges and earn a proportionate share of profits, considering the associated exchange risk.

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

There has been a significant amount of community enthusiasm for engaging with AMM liquidity provider services. In a Stedas poll, 75% of respondents expressed a willingness to participate. The successful implementation of smart contract functionality, which requires an 80% validator endorsement, could provide XRP holders with opportunities to diversify their earnings.

Despite concerns about potential drawbacks such as market volatility and manipulation, the XLS-30D code base has undergone a thorough audit by security firm CertiK. The code received an impressive security score of 95/100, providing reassurance to the XRP community.

As the XRPL AMM Amendment gains increasing consensus and potential approval, the XRP community is hopeful for new opportunities to generate passive income.