The countdown has begun for the activation of the “fixReducedOffersV1” amendment in the XRP Ledger (XRPL), with over 80% of validators giving their approval.
This amendment represents a significant upgrade for XRPL and is set to introduce additional features in the coming weeks.
Users who rely on rippled v1.11.0 or earlier versions are strongly advised to update their systems to stay in line with this crucial development.
Achieving an update consensus of over 80% within 14 days is necessary for the implementation of fixReducedOffersV1, which addresses critical issues with decentralized exchange (DEX) offerings.
Among the amendments introduced in the XRPL v1.12.0 update, fixReducedOffersV1 stands out as the only one that has secured an 80% consensus, triggering a two-week activation countdown.
The primary goal of fixReducedOffersV1 is to reduce the prevalence of order books that are obscured by reduced offers, ultimately enhancing the overall functionality of the XRPL.
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This amendment allows for protocol modifications supported by over 80% of validators within a two-week period.
This recent development underscores the importance of upgrading to the latest XRPL version for continued engagement, whether as a node provider or in other specified protocol functions.
From the perspective of takers on XRPL’s decentralized exchanges (DEXs), fixReducedOffersV1 can round the exchange rate of a reduced offer, making it more favorable than the original offer.
In such cases, other offers matching the original may consume the reduced offer.
Conversely, the absence of these amendments would result in reduced offers with significantly unfavorable exchange rates after rounding, compared to their original value.
Over time, this could hinder the acceptance of more favorable requests, posing significant challenges for decentralized brokerage platforms operating on the XRPL.
In September, XRPL introduced version 1.12.
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