XRP Ledger 基金會已發布 AMM v2 的新草案標準，提出對 XRP Ledger 去中心化交易所的重大升級。該標準引入新的池子曲線模型—Constant Product、Concentrated Liquidity 與 StableSwap—旨在提升 XRP Ledger 去中心化交易所不同資產市場的流動性、價格穩定性與資本效率。該提案透過允許流動性池使用超過一種定價模型，擴展了現有的自動做市商框架，並跳脫了主要依賴常數產品模型的既有 XLS-30 AMM 設計。這些新模型預期可支援穩定幣、外匯交易對、真實世界資產，以及其他需要更緊密定價與更低滑價的相關代幣。
Multi-Curve Pool Design for XRPL DEX
The AMM v2 proposal introduces a pluggable pool structure for the XRPL DEX, allowing liquidity pool creators to select from different curve models depending on market conditions and asset type.
Constant Product pools are similar to the design used by Uniswap v2 and are suitable for more volatile asset pairs.
Concentrated Liquidity pools are inspired by Uniswap v3. They allow liquidity providers to place funds within selected price ranges rather than across the full market range. This design can improve capital use when trading stays inside active price bands.
StableSwap pools are designed for assets that trade closely together, such as stablecoins, tokenized cash products, FX pairs, and certain real-world asset markets. These pools are intended to provide smoother pricing and lower slippage when assets have similar values.
Benefits for Stablecoins, FX, and Real-World Assets
The proposed standard is expected to improve trading conditions for assets such as RLUSD, USDC, and other stable or correlated tokens on the XRP Ledger. Lower slippage and tighter spreads are key goals of the upgrade.
For liquidity providers, the AMM v2 framework may allow more targeted use of capital. Instead of spreading liquidity across a wide price range, providers could deploy funds where trading activity is most likely to occur.
The XRP Ledger Foundation said the changes are intended to support deeper liquidity and more stable pricing on the XRPL DEX. These features are relevant for institutional DeFi applications, where predictable execution and market depth are important. The upgrade also supports the XRP Ledger's wider tokenization focus, as real-world assets, stablecoins, and FX markets are growing areas of blockchain finance where AMM design affects on-chain trading efficiency.
XRP Ledger 生態系發展
AMM v2 提案延續了 XRP Ledger 生態系中的其他進展。Yellow 在 10 月與 XRP Ledger EVM Sidechain 整合，使使用者能夠存取高頻交易、非託管結算，以及用於數位資產與真實世界資產的跨鏈流動性。EVM Sidechain 連線為與以太坊相容的應用程式提供了進入 XRP Ledger 生態系的另一條路徑，同時支援更廣泛的 DeFi 工具並維持與 XRP Ledger 去中心化交易所流動性與資產市場的連結。
另外，RealFi Payment Solutions 正與 Shopify 合作，為全球電商商家開發一款由 XRP Ledger 驅動的支付與獎勵應用。Shopify 服務數百萬商家，使這項合作成為連結基於 XRP Ledger 的基礎設施與零售支付使用案例之努力的範例。
XRP Ledger 基金會的 AMM v2 標準目前仍屬提案，其採用取決於生態系審查與落地實施。
