The “fixReducedOffersV1” amendment is now in a two-week activation countdown phase, with approval from over 80% of validators. This signals a significant upgrade for XRPL.
XRP Ledger (XRPL) is set to introduce additional features in the upcoming weeks. According to XRPScan, users relying on rippled v1.11.0 or earlier versions are advised to update their systems. Implementing fixReducedOffersV1 necessitates achieving updates exceeding 80% within 14 days, addressing critical issues with DEX offerings.
Among the amendments introduced, fixReducedOffersV1 stands out as the sole amendment securing an 80% consensus, initiating a two-week activation countdown. This aims to minimize the prevalence of order books obscured by reduced offers, enhancing the overall functionality of the XRPL.
This recent development necessitates an upgrade to the latest XRPL version for continued engagement as a node provider or in other specified protocol functions.
From the taker’s perspective, this amendment can round the exchange rate of a reduced offer on XRPL decentralized exchanges (DEXs) to make it more favorable than the original offer.
The lack of these amendments would result in an offer with minimal remaining amounts having significantly unfavorable exchange rates after rounding compared to its original value, creating substantial challenges for decentralized brokerage platforms operating on the XRPL.
Related: Ripple CTO seeks community consensus for XRPL AMM feature adoption
In September, XRPL version 1.12.0 was launched, introducing notable features such as fixReducedOffersV1. The update included bug fixes and amendments related to the Automated Market Maker (AMM) and Clawback function. Users were required to upgrade to the latest version by September 20 to avoid disruption. Moreover, the XRPL update was identified as a requirement for participating in the voting process for new amendments like XLS-30.
The XRPL has undergone notable internal and external enhancements, contributing to its overall positive outlook. The successful completion of the latest security audit for the Xahau sidechain bodes well for the prospects of XRPL.
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