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Hello this is Matt on the moon Lambo Channel here's a headline from you today Major xrp amendment in serious Jeopardy now to be perfectly honest here That sounds a bit more dramatic than Would perhaps be necessary given what's Actually happening here but it is true That uh a bug was found in in an Amendment for The xrp Ledger and so as a Result that does mean that U if this Amendment were to pass uh as it was at The time with that bug then you'd have Faulty lay one technology within the xrp Ledger then the question is of course to What degree is it legitimately a big Deal is it a security risk and there's Been a lot of arguments back and forth And I'm going to share with you just a Little bit of this but there's been no Shortage of coverage so I'm going to Share with you some perspectives just Just a few actually that I think do a Good job encapsulating both sides of the Argument because there are some people Saying uh we should never ever go Forward launching any sort of amendment With a known bug on The xrp Ledger and There are others that say but it's not a Security risk and it still functionally Works there's just a slight delay in Transaction we'll get into the specifics In a minute here and so you know I I Thought through this and and mind you I'm not the I'm not a tech nerd type and
I appreciate the tech nerds within our Xrp community because like they're the Ones in the know they're the ones doing A lot of the heavy lifting I very Genuinely appreciate them so all I can Do and this is all most people can do Because we're not an expert on most Things in life in general all we can do Is listen to the arguments from both Sides those who would be uh closest to Be considered an expert territory and Then we just interpret their arguments We listen and then we do our best to Come to our own conclusions it's like Anything else in life whether you're Listening to financial experts and I'm Not or if you're listening to political Debates whatever it is you do your best Because you're not going to be an expert In most things and you're going to hear The arguments and then you're going to Find that you perhaps you find one side More persuasive um and I'll just tell You here for me personally at the outset Of this video um I'm kind of right in The middle because I don't think this is Consequential and I'll break down why in In as we get to the video but I don't Think it's FR to be honest with you I Don't think it's going to matter one way Or another and so I appreciate the Degree to which people have genuine Passion in debating all this and Sometimes it might have seemed like some
People are getting rude or testy but I Think it just shows that people Genuinely do care and so that part a Good thing it just so so I get it but Anyway before going further I do want to Be clear I do not have a financial Background of any kind I am not offering Financial advice and you definitely Should not buy or sell anything because Of anything I say right I'm just an Enthusiast who enjoys making YouTube Videos about crypto related topics but Just as a hobby and just for fun and I Think the Crypt basic um did a pretty Good job covering this and so I'm going To get you some of the specifics in this Article uh covering this topic and then I'm going to give with you P give you Perspective from a few people um who Have an actual say in this thing um and And even if not an actual vote that just Doing a good job I think arguing Whatever side it is that they are so Here's the headline xrpl validators Revoke votes on XLS 30d amm not Launching on February 14th of course This is the automated Market maker and I'm sure most of you are aware at this Point probably about all of you but um The amendment it was uh it was Sufficiently voted for so in order to Have an amendment approved on The xrp Ledger you have to have 80% approval Plus one more vote so I guess
Technically it would be what 81% or Maybe I don't know ex actually I don't Know for sure maybe it's 80.1 and it still counts all I know is That 80% is not enough so that's why I Think the best way to WR it is 80% Approval plus one from the validators And that was achieved now once that's Achieved that sets a timer it's just It's coded Into The xrp Ledger once an Amendment is voted on and it's approved That sets a twoe timer and so as long as The vote threshold stays above that 80% Plus one then it's implemented and so we Were above that threshold that was going To get approved February 14th but then The bug was found and a lot of uh a lot Of votes changed their minds and so uh You have to have a fix Implemented and then you have to reset The timer once there's sufficient votes Should that occur and and look the good News is I think that about 100% of of those who have actually Voting power just about everybody does Want to have the automated Market maker Just a question of should we rush this Thing through right now anyway piece Reads as follows the eagerly anticipated XLS 30d Amendment for the xrpl set to Introduce an automated Market maker will Not launch on February 14th as more Validators revoke their votes this is Due to a critical bug discovered in the
Amm code Ripple X the development arm of Ripple identified the issue during an Extended testing citing a potential Obstacle for multiple amm transactions Executing in the same Ledger and so I'll Just say this after having heard Arguments from both sides uh in my Humble opinion calling this bug a Critical bug seems like more than just a Stretch that seems like uh not an Accurate description of what's going on In fact to me after and fine I'm not a Tech nerd I'm not an expert but I just I Heard the arguments on both sides like I Was saying and what did I find more Persuasive uh the arguments that Indicated this is a very lowlevel thing And actually The xrp Ledger even if Implemented with the bug it still Functions that's pretty I don't even see That point disputed it's just a question Of should you ever under any Circumstance uh publish you know an Amendment code to The xrp Ledger layer One if there's a known book and so That's where a lot of the passion gets To even because there is this broad Recognition this is not some sort of Thing that's going to you know hamper The security of The xrp Ledger or result In funds being lost or anything of the Sort nothing like that but um I I Appreciate there are enough people uh Within our ecosystem that feel this
Strong L that that does make me feel Good that that that instills confidence But anyway piece continues the bug Primarily affects an edge case where the Trading fee is set below 0 1% in this Case the bug occurs when there is a Cluster of transactions on the amm Causing some transactions to Hal for one Ledger resulted in a resulting in a 3 to 5 Seconds delay before execution notably Once the amm is created the transactions Must wait for one ledger to close before Execution after this Ledger closes the Transactions execute normally except for The amm vote transaction notably the First amm vote transaction would execute Correctly but the amm vote transactions That follow will continue to wait for One ledger to close within 3 to 5 Seconds before execution Ripple X has Proposed a fix and is currently Reviewing it the proposed fix addresses The issue ensuring correct Identification of default Fields Within Amm enter inner objects and reinforcing Stability in both the core Ledger and Amm code despite the relatively minor Impact of the bug xrpl validators have Taken a stand by revoking their votes on The X ls3d Amendment recall that the Amendment reached the required validator Consensus on February 1st with Implementation uh ETA at February 14th And So based on everything that I've
Seen again it would still function but Certain transactions in rare cases super Rare cases Edge cases as they call them uh would Have to wait for one additional ledger To close meaning 3 to 5 seconds would be Lost but it would still work there is no Hint of any sort of security concern This or that and by the way I also note Here it's funny that they call this at This part of the article a relatively Minor impact of the bug but then what Did I share with you up here they wrote This is due to a critical bug well which Is it damn It uh it's the second one this is this Is not something that's going to devast Even if it were to get a prove this way Uh no and so there is this perspective From U Francis boine Swift on social Media platform X he's at Swift bovine he Is the creator of the xrp rich list and Here's what he had to Say uh looking through the code comments I don't see one comment from a developer That states anything that would warrant Postponing Activation this patch is a change that Impacts how objects are Instantiated and the philosophy behind That no one states that the old method Is not secure or that once it was Implemented one way it couldn't be Migrated to the new philosophy in a
Future update and so folks what he's Saying here is there's been no evidence That this is some sort of security risk Or people could lose funds anything Disastrous whatsoever and if approved There's there's no reason to believe That that couldn't be modified anyway And I I from what I've seen that is Correct I haven't seen any uh any sort Of strong well really any argument at All that that wouldn't be true to be Honest with you and then he says was Canceling the vote discussed outside of The public comment area if so what was The decision based on basically this fix Implements a new way of creating objects But the old way wasn't really broken Were there any recommendations from the Coders that led to this delay and then There was this post from expector and They wrote The Following after careful Reconsideration we've changed our vote On the amm Amm amendment to Nay it's a critical Feature there is a known issue we need To fix first before activating voting Otherwise would be irresponsible and Compromise our integrity and it would be A dangerous precedent no amendment Should pass with known issues we strive To uphold the highest standards for The Xrp Ledger and its community and so Folks here's here's why I'm in the Middle uh because I find the arguments
From both sides compelling well of Course puts me right in the middle but When you consider the fact that we've Had The xrp Ledger for over a decade Without the automated Market maker uh is It going to kill us if we had to wait a Few weeks or a month or a few months to Get the damn thing approved without the Bug would that kill us well no of course Not so I so in that sense I'm like well If we just wait and do it right okay I Don't care that's fine now on the flip Side if this thing actually were pushed Through since there's not a soul that I Have seen argue that this is security Risk or that people could lose funds or Anything uh that would actually be Horrific if it were to get pushed Through if that's what the the Decentralized ecosystem wanted to do I'd Feel about the same as I do right now be Like well okay I mean there's no rush But hey if you want to get it through Since there's there's not a single human That has argued that this is going to be Some sort of critical issue or that it's Going to materially harm anything or so That that's do you see why I'm in the Middle now because it doesn't matter one Way or another in the end now not Everybody believes that see that's why I'm in the middle some say that it's a Bad precedent and I respect where those Where those people are coming from like
I don't think that's a bad argument uh I I just I'm I'm recognizing that either Way in the end I'm not convinced that There's going to be uh any material Consequence one way or another after Hearing both sides and I've listened to A lot of people talk I'm just Highlighting a few perspectives for this Video I read a lot of stuff and I Listened to um uh a spaces I didn't get To listen to it live but I listened to Uh about a third of a spaces that was Hosted by uh by Vet uh here you can see at vetor x0 xrpl DL validator um and so it was Interesting actually by the way in that Spaces I was from this afternoon David Schwarz even jumped in and um he was Basically uh you know applauding how People are responding and he kind of Noted like so even if there is Passion If things are getting a little testy It's because people in the community Care Um and so here was perspective from uh From Daniel Daniel Keller Daniel WWF CTO at Imminence and uh he wrote The Following And and look again even though I'm kind Of in the middle because I'm kind of Like either way I'm not con I just I'm Not convinced by anybody that it's going To be disastrous one way or another That's basically my argument that's my
Stance because nobody has convinced me That it would be disastrous one way or Another and so I find what Francis boine Swift to be fair and reasonable and Compelling and I find what Daniel writes Here which I'm about to share with you To be fair and reasonable and compelling It comes down to just opinion it's just Totally subjective here in terms of what Types of Standards you want to live by What you find reasonable and so here's What he said I have decided to withdraw My vote on the proposed amm amendment After careful consideration and Discussion within our community the Proposed feature as it stands goes Against the best practices we strive to Uphold specifically my concern lies in Releasing a future with a known issue While I understand the urgency and Importance of implementing updates and Improvements to the xrpl adhering to Rigorous standards of quality and Reliability is essential releasing a Feature with a known issue compromises The Integrity of best practices and sets A dangerous precedent for future Amendments and so let me just pause say This I don't think that's an like none Of what I just shared with you I don't Think that's unreasonable and the rest Of what I'm going to share with you in a Moment that he wrote I don't think That's unreasonable either um I I will
Say and this is just me thinking out Loud here but in terms of this being a Like if it were to get approved which It's obviously not H it's not getting Approved in its current state with the Book it's not happening but I'm saying If it were would that would that Genuinely set a bad press Well let me just say this if there were A problem with a separate completely Unrelated amendment in the future if There were uh potential consequences That consequences that would um you know Be harmful from a security perspective Or a loss of funds Perspective I don't think that a single Validator would vote to approve that so If this got approved would it set Precedent that we can just all Willy-nilly approve anything no matter What the Bail no you have to you would Have to consider what the actual bug is And the Ramifications I don't think that it Would necessarily set a prec like for Instance think about what happened with Um XLS 20 with nfts do you guys remember That hold Debacle um kind of similar except for That was more serious so I'm just Sitting here thinking like say this Happened first and let's say in a Fantasy land this isn't going to happen But let's say that the automated Market
Maker got approved with the bug would XLS 20 if it came after that would it Have gotten gotten approved because There's a precedent set and with that Bug it would just it just it would have Gone I'm not I'm not convinced of that At all so I don't think his argument's Bad but but um because again it's Subjective you know but would it start Making people lean that way Ah maybe again it's not a bad argument I Just I find it hard to believe that like People wouldn't take into consideration The seriousness of each individual Amendment in terms of what the bug is That that's all I'm Saying um and then he says we do not Move and break things fast we never have We never will no Amendment shall pass With known issues as an advocate for the Xrpl and and uh as an infrastructure Provider it is my respons responsibility To prioritize the stability and Functionality of The Ledger Above All Else rushing the implementation of a Feature with known issues undermines my Commitment to Excellence and erodes Trust among every Ledger user and so Again I'll pause to say that is totally Fair and people are different people are Going to have different standards there Be some people and there are people who Think okay but there's no harm to the Actual Ledger and we can fix it very
Quickly afterwards it materially doesn't Matter some people are making that Argument he has a different perspective And I respect what you know whatever Your stance is I'm kind of like Again it's the reason I'm in the middle I don't think it makes a material Difference but I respect where he's Coming from because he's saying no I Don't care how small the bug this damn Thing doesn't get published if it's up To me and he gets a vote so totally Respectable and then he says in light of These concerns I cannot support the Proposed amendment in its current form However I remain fully committed to Working collaboratively with you and Others to address these issues and Explore alternative solutions that align With our principles and values I would like to see amm deprecated and Amm V2 which should include fixes being Put up for vote avoiding an XLS 20D Situation thank you for your Understanding and cooperation in this Matter I look forward to continued Dialogue and collaboration as we strive To uphold the highest standards for the Xrpl and its Community uh my vote for Amm has been withdrawn my vote has been Changed and should be reflected with the Next flag list ler the next release for Ripple D is is scheduled for 4th of March a fix for the issue is already
Being reviewed so again like I said Totally fair point and I respect where He's com it's just that's why I'm in the Middle like I the reason I don't feel Strongly and I frequently have very Strong opinions if you've been following Me for more than 5 Seconds you probably Know that it's because Again I don't think it makes a material Difference in the end it's more about Personal preference and in this case Like Daniel says here it's just like no He has a very high bar he's like no Nothing gets published if there's even The tiniest book totally respect that Other people are like yeah but you can Just fix it pretty quickly it doesn't Matter just just to prove the thing Because it doesn't harm anything so Again like I keep saying it's personal Preference here but that again is why I Don't have a strong opinion on this Because in the end we're going to have The same result this because everybody Wants this just about it's going to get Approved it will functionally work That's a virtual certainty and it's Going to be fine it's just a question of How messy is the path to us getting There and the answer is a little bit Messy but that's okay you know I I love That the community's having a rigorous Discussion on the matter I'll just say That and I do believe that and then
There was this post at 4:12 p.m. today Central time uh from vet he said Ripple D 2.1 release candidate proposed The xrp Ledger amm Edge case fix now also got Pushed into release candidate Ripple D 2.1 things are moving fast now usually One to two weeks testing before official Release thanks to all Ripple D devs and So again Uh presumably sooner than later this is Going to be fixed it is going to get Approved and it's fine so whatever side Of this argument you're on whether you Think we should have just pushed it Through because it wasn't a security Risk and we would have just done the fix Anyway or if you think no I want this Level prot Perfection whatever your Perspective is I'm like okay yeah sounds Reasonable that's pretty much where I Lie on this because again in the end it Doesn't materially matter and I don't Think like in terms of uh the precent Thing it's just like again I think that It has do the severity of each Individual case as to whether or not a Bug would ever be cuz like you think About this the people that are okay with This tiny tiny low low lowlevel bug Getting approved knowing that it would Be fixed pretty much instantly those People would not be okay with bugs of a Much more substantial nature you know All sorts of potential risks security
Risks and otherwise so again in terms of You know setting some sort of press I Just I find it hard to believe that Anybody that cares about the xrp would Push through anything if there was even The tiniest chance that there was a Security risk or a risk of a loss of Funds I think that there are zero per Participants within our ecosystem that Would change uh regardless of whether or Not this thing went through again it's Not going through in the current state But even if it did would that make People be like get a little bit more Loose with stuff I find that hard to Believe Ju Just like well and I could be Wrong I admit I could be wrong but uh We're still going to get it the good News is we've had rigorous conversation I've I've mostly just been listening Because I'm not one of the tech nerds um But uh we're going to get it it's going To be fine and um people a year from now By and large well have forgotten that we Even had this discussion at all Likelihood but that's the latest that That's where it's at right now you guys Let me know what you think in the Comments section below I'm only bet that Some of you are going to feel a lot more Strongly than me and that's fine um you Know it's again it comes down to Personal opinion I'm not a financial Adviser you should not buy your sell
Anything because of anything say right That would be a very very very bad idea Until next time to the Moon Lambo
