Ripple’s Chief Technology Officer, David Schwartz, has proposed that XRP Ledger (XRPL) validators consider implementing an automated market maker (AMM) feature only if there is consensus within the community.
In a recent tweet thread, Schwartz acknowledged AMMs as an intriguing aspect of decentralized finance. However, he cautioned validators against unilaterally voting to implement AMM capabilities on the XRPL.
In general though, validators shouldn't vote YES individually. The community should make a decision and then validators should nearly all vote YES when they believe the community is on board and enough nodes support the change.
The amendment voting process is intended to…— David "JoelKatz" Schwartz (@JoelKatz) October 6, 2023
Schwartz talks about the possibility of AMM going live
Schwartz noted that if a majority of validators back the change after perceiving community consensus, AMM functionality could go live within two weeks post-voting. But currently, no validators endorse adding AMMs based on his knowledge.
The XRPL’s v1.12.0 update introduced the option to integrate an AMM and enable decentralized trading on the ledger. However, Schwartz stressed validators should not promote these modifications without community buy-in first.
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He advised validators to wait until clear agreement exists among users and sufficient nodes endorse the change before overwhelmingly voting yes. This conservative approach respects the decentralized ethos of the XRPL.
The comments highlight Schwartz’s emphasis on collaborative governance, despite his excitement about the technical potential of adding AMMs. By urging validators to wait for social consensus, he hopes to avoid contentious changes.
This measured philosophy contrasts with moves by some blockchains to push upgrades without transparent stakeholder input. As the XRPL eyes new capabilities, Schwartz recognizes the importance of putting the community first.