- The XRP Ledger (XRPL) is initiating a two-week activation countdown for the fixReducedOffersV1 amendment, which has achieved over 80% consensus.
- The amendment rounds the exchange rate of reduced DEX offers to be more favorable for takers, avoiding obscured order books.
- Users need to update to the latest XRPL version to continue as node providers and participate in voting on new amendments.
The XRP Ledger (XRPL) is set to introduce additional features in the upcoming weeks. As per XRPScan, users relying on rippled v1.1.0 or earlier versions are advised to update their systems. Implementing fixReducedOffersV1, addressing critical issues with DEX offerings, necessitates achieving updates exceeding 80% within 14 days.
The fixReducedOffersV1 Amendment
Among the amendments introduced in the XRPL v1.1.20 update, fixReducedOffersV1 stands out as the sole amendment securing an 80% consensus, initiating a two-week activation countdown. FixReducedOffersV1 aims to minimize the prevalence of order books obscured by reduced offers, enhancing the overall functionality of the XRPL.
The XRPL amendment allows protocol modifications backed by over 80% validator support within two weeks. 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. In such cases, other offers matching the original may consume the reduced offer.
Conversely, 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. Over time, this prevents accepting more favorable requests, creating substantial challenges for decentralized brokerage platforms operating on the XRPL.
The Outlook for XRPL
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.
Conclusion
The fixReducedOffersV1 amendment signals a significant upgrade for XRPL. Users are advised to update to the latest version to avoid disruption and participate in the voting process for new amendments. The changes aim to enhance the functionality of Ripple‘s DEX by minimizing obscured order books.
