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Home > News
Published: 27/03/2024
-
Author: Leexim
Rippleās XRPL Blockchain Expands Cross-Chain DeFi Integration
Ripple collaborated closely with the XRP Ledger blockchain community to develop an ecosystem for an automated market maker protocol.
Azcnews (1)
Rippleās XRPL blockchain is poised to unlock a plethora of decentralized finance (DeFi) capabilities with the introduction of its new automated market maker (AMM) protocol. Recently unveiled, the XLS-30 AMM protocol, developed collaboratively with the XRPL community, is set to enrich Rippleās blockchain ecosystem.
This AMM is anticipated to broaden the DeFi horizons within the XRPL ecosystem, facilitating cross-chain DeFi applications across a spectrum of 50 blockchains. While XRPLās decentralized exchange (DEX) currently operates with a conventional order book, it lacks some of the advanced features pioneered by recent DeFi protocols.
According to a spokesperson from Ripple, the AMM serves as a cornerstone for further DeFi advancements on the XRPL blockchain. Integration with cross-chain messaging services like Axelar is expected to enhance the accessibility and functionality of XRPL-based DeFi solutions across multiple blockchain ecosystems. The development of the AMM, which commenced in June 2022, was reflected upon by Ripple CTO and XRPL co-founder David Schwartz in a recent post.
The AMM aims to complement and augment XRPLās existing order book system. Previously, XRPLās DEX solely relied on order books, offering a capital-efficient trading mechanism for highly liquid pairs.
Rippleās team highlights that integrating the AMM with order books extends and enhances the existing DEX-powered ecosystem.
āBy integrating the AMM with order books, traders can automatically access the best price across both systems, while liquidity providers can generate yield on their excess liquidity,ā the spokesperson elaborated.
Developers can utilize the AMM to create liquidity pools for any asset pair issued on XRPL. While the AMM isnāt tailored explicitly for institutional trading entities, its functionality may prove beneficial for high-volume traders or firms.
Xrpl Amm
Xrpl Amm
Although the AMM currently lacks built-in compliance features, it complements the existing order book DEX, which may cater more to large financial institutions trading popular tokens at scale.
The integration of the AMM with the existing order DEX is expected to foster a robust trading environment suitable for a diverse user base, ranging from retail traders to institutions.
Related: SEC Seeks $2 Billion Fine from Ripple (XRP)
Ripple and XRPL are also exploring the inclusion of on-chain regulatory compliance features to facilitate institutional adoption of their protocol.
The AMM, coupled with cross-chain messaging protocols, is envisioned by Rippleās team as instrumental in attracting capital, crypto developers, and traders from various blockchain ecosystems.
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3.8/5
(5 votes)
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Anonymous
27/03/2024 at 2:22 pm
Congratulations to AMM
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A T M ZILLUR RAHMAN
28/03/2024 at 1:21 am
Nice App
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Home > Airdrops
Published: 27/03/2024
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Author: Kane
Participate in the BingX Futures Spring Tournament
Cryptocurrency exchange BingX is hosting the "Join the Spring Futures Trading Tournament" event with prizes of up to $100,000. To participate and claim your rewards, read the details here!
Azcnews Breaking
On March 24th, the leading cryptocurrency exchange BingX announced the highly anticipated BingX Futures Trading Tournament with a total prize pool of up to $100,000.
The tournament will officially kick off at 9:00 AM on March 28th and will last for one week, concluding on April 3rd. The event emphasizes the spirit of competition within the cryptocurrency community as the total prize pool will depend on the number of participants, with a goal of reaching a maximum of $100,000 in USDT. BingX encourages active participation to elevate the level of competition to new heights.
Register for the event here.
Details of the BingX Futures Tournament
Bingx (1)
Specifics regarding the prize structure of the BingX Futures Spring Tournament:
With a total trading volume of $5 million, the prize is $2,500.
$500 million trading volume, the reward is $12,000.
$1 billion trading volume, the reward is $25,000.
$2.5 billion trading volume, the reward is $40,000.
$3.5 billion trading volume, the reward is $70,000.
From $5 billion trading volume and above, the maximum reward is $100,000.
Related: How to Participate in the Backpack Airdrop
Specific prize allocation:
1st place: Receives 35% of the total prize pool.
2nd place: Receives 25% of the total prize pool.
3rd place: Receives 10% of the total prize pool.
4th-5th place: Receive 5% of the total prize pool (evenly divided).
6th-7th place: Receive 3% of the total prize pool (evenly divided).
8th-10th place: Receive 1% of the total prize pool (evenly divided).
BingX Futures will evaluate and distribute rewards based on the trading volume of participants, with higher trading volumes resulting in higher rewards. The tournament promises to provide a significant opportunity for the trading community to showcase their trading skills.
Read More
#Airdrop
#BingX
5.0/5
(1 vote)
Avatar of Md Shamim
Md Shamim
27/03/2024 at 12:52 pm
Plz hlp
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Avatar of Victor
Victor
27/03/2024 at 2:19 pm
This competition is gonna be lit
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Avatar of Yusuf
Yusuf
27/03/2024 at 5:25 pm
Hi
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Avatar of Akande adewale
Akande adewale
27/03/2024 at 6:14 pm
Wow great project
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Avatar of
Anonymous
27/03/2024 at 7:11 pm
P
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Avatar of Akachi Blessing Onyeulo
Akachi Blessing Onyeulo
27/03/2024 at 10:19 pm
This is a great project
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Avatar of A T M ZILLUR RAHMAN
A T M ZILLUR RAHMAN
28/03/2024 at 1:25 am
Good App
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LATEST
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Azcnews Breaking
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Recently, the Kucoin exchange has been indicted by the U.S. Department of Justice for involvement in illegal trading activities, totaling up to $9 billion. Immediately after, the KCS token plummeted by 25%.
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2
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3
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4
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