coinedition.com
In a recent tweet, Bob Ras, the co-creator of Sologenic, said his digital asset trading firm integrated XRP Ledger (XRPL)’s automated market maker (AMM), XLS-30D, on the developer network following a successful security audit on the AMM. Ras noted that his team would “flip the switch” once XLS-30D passes the amendments and goes live on the XRPL blockchain.
Sologenic team has successfully integrated the XLS-30D on the devnet and as soon as the amendment is passed and live on the #XRPL, we will flip the switch. @realSologenic @RippleXDev https://t.co/PuGFv8PvpI
— Bob Ras (@bobrasX) July 12, 2023
Last year, the XRPL automated market maker had become available for testing and development. In a recent turn of events, CertiK, a prominent player in blockchain auditing, has declared the successful completion of an all-encompassing security audit for XLS-30d. The auditing scrutinized the underlying smart contract architecture to identify possible weaknesses and assess the overall security of the AMM implementation.
We completed an audit of @Ripple’s XLS-30d, an Automated Market Maker built on XRP Ledger.
— CertiK (@CertiK) July 11, 2023
XRPL is an open source decentralized public blockchain that allows for the efficient, real-time transfer of #XRP, fiat, and other digital assets.
Details here ⬇️https://t.co/SNTFTWEei2
According to the official statement of the security audit, critical components that CertiK validated consisted of Central Limit Order Book integration for decentralized exchange, auction mechanism, single-sided liquidity provision, and the absence of Miner Extractable Value (MEV).
Ultimately, CertiK concluded that the AMM meets the highest security standards, encapsulating XRPL’s advanced capabilities and intrinsic features, such as meager transaction costs, swift block times, and fair transaction ordering.
Jason Jiang, Chief Business Officer at CertiK, emphasized the organization’s commitment to cultivating a safer and more secure blockchain ecosystem. He expressed gratitude for the opportunity to ensure that XRPL’s AMM implementation aligns with the highest security standards.
Notably, CertiK has collaborated with nearly 4,000 enterprises and caught nearly 70,000 vulnerabilities in software code while working with Binance Smart Chain (BSC), Yearn Finance, and Aave, Polygon.