The Ripple team has unveiled the XLS-30 Automated Market Maker ledger amendment for community voting on the mainnet in 2022.
This announcement follows shortly after the Ripple development team informed the public about multiple XRPL updates awaiting community approval

In an exciting development, Ripple’s XRP team has unveiled the XLS-30 protocol, which is now open for community voting on the mainnet. This protocol promises to revolutionize the world of digital finance.

XLS-30 is a technical specification crafted for the creation of a native automated market maker (AMM) protocol. It seamlessly integrates with the orderbook-based decentralized exchange (DEX) on the XRP Ledger (XRPL). This integration holds immense potential for the future of decentralized finance.

XRPL Gets a Facelift

This announcement follows closely on the heels of several updates introduced on the XRPL, awaiting community approval. Among them, the XLS-30d protocol empowers application developers by allowing them to design user interfaces tailored for traders and liquidity providers. These interfaces come with predefined functions to enhance user experience.

XLS-30d brings an innovative auction mechanism into play. This mechanism incentivizes arbitrageurs, reducing the impact of impermanent loss on liquidity providers (LPs). It’s a game-changer that could reshape the landscape of decentralized finance.

The AMM implementation on the XRPL leverages Federated Consensus and canonical transaction ordering. This approach bolsters security by reducing vulnerability to Miner Extractable Value (MEV) and front-running attacks. Additionally, it simplifies user experiences with single-sided liquidity.

Ripple’s Chief Technology Officer, David Schwartz, has singled out XLS-30 as his “most cherished XRPL feature.” However, the reasons behind this preference remain a mystery, as Schwartz has yet to respond to inquiries from the XRP community.

One of my favorite XRPL features ever, explained in my keynote at #ApexDevSummit, is now open for voting on mainnet. https://t.co/c6Sp59ldYx

— David "JoelKatz" Schwartz (@JoelKatz) September 8, 2023

Where Are XRP Investors Mostly From?

The United States takes the lead, boasting the highest number of XRP holders on Deaton’s list. A significant 53% of the 75,000 XRP holders are based in the United States. The United Kingdom secures second place, with Australia closely following as the third most represented country.

I checked the 75K #XRP Holder list. Australia 🇦🇺 has moved to the #3 spot. About 53% of the 75K #XRP Holders are from the United States 🇺🇸
The United Kingdom 🇬🇧 comes in at #2. After that, Australia 🇦🇺 has a very small lead (ie like 11 people) over Canada 🇨🇦, as the 3rd most… https://t.co/HYfaNOioju

— John E Deaton (@JohnEDeaton1) September 10, 2023

Deaton made this revelation shortly after being announced as a keynote speaker for the upcoming XRP Gold Coast 2024 conference in Australia. Organized by Wave of Innovation and sponsored by Morgan Mac Lawyers, this conference promises to be a gathering of industry leaders, experts, investors, and enthusiasts.

Attorney Deaton disclosed this after he was announced as a keynote speaker for the upcoming XRP Gold Coast 2024 conference.

The Team at Wave of Innovation is thrilled to announce Mr. John E. Deaton, a renowned legal expert and advocate in the cryptocurrency industry, as the distinguished key speaker for our upcoming #XRPGoldCoast2024 conference

The XRP Gold Coast 2024 is a conference organized by Wave of Innovation. It is scheduled to take place in Australia on March 22-24, 2024. According to the organizers, the conference will be an exceptional gathering of top industry innovators, experts, investors, and enthusiasts. The conference will allow attendees to explore the latest trends, advancements, and opportunities of the XRP Ledger (XRPL) ecosystem and blockchain tech.

Sponsored by Morgan Mac Lawyers, the XRP Gold Coast organizers boast an impressive lineup of keynote speakers, including Deaton and top XRP influencer Crypto Eri. The Wave of Innovation team also listed Spend The Bit’s CEO Jay Kambo among the keynote speakers.

Latest Ripple vs. SEC Developments

Over the weekend, the SEC argued in a new filing that it has a strong interest in resolving the case efficiently. This comes in response to Ripple’s motion opposing the SEC’s request for an interlocutory appeal. The case revolves around the SEC’s claim that secondary XRP sales should be considered investment contracts, a notion challenged by recent court rulings.

The SEC, like the Court, has an institutional interest in the most efficient ultimate resolution of this litigation. Defendatns’ interest, by contrast, is to delay an ultimate resolution so that they may continue freely selling XRP into public markets without the disclosures that come with registration, to the tune of over $3 billion net ODL sales since 2020 alone.

Recall that the SEC is claiming that secondary sales of XRP on the open market should constitute an investment contract – a notion tossed by Judge Analisa Torres in her most recent ruling.

Amid these developments, XRP’s price has dipped below the psychological threshold of $0.5. Currently trading at $0.49, this price level is pivotal and could significantly impact investor sentiment in the days ahead. The XRP community eagerly awaits the outcome of the XLS-30 community voting and closely monitors the legal battle with the SEC, all while keeping a watchful eye on XRP’s price movements.