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Hello this is Matt on the moon Lambo Channel this is a warning video a bug Has been found within the xrp Ledger on Lay one and it comes from the newly Implemented automated Market maker it Just happened the other day and here we Already have a critical bug uh Sufficient enough to have Ripple come up Publicly and warn people against using The automated Mark automated Market Maker uh just to make sure that you Don't lose your funds so whether that's Something that's probable to happen or Not they're warning just don't use the Damn Thing this is why we cannot have nice Things so I'll share with you what we Know to this point and to be honest with You at least at the time that I'm Recording this uh limited information as To what the actual problem is uh there's Limited information on but uh I I I will Also go ahead and Hazard a guess here That this will ultimately all be worked Out and uh the automated Market M maker Is going to be a huge success big Picture but man what a train wreck it's Been to get here to this point which Isn't a crap all over the people that Have put hard work into making this Happen it's just unfortunate that it Hasn't exactly been a smooth roll out But uh 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 or right I'm just an Enthusiast who enjoys making YouTube Videos about crypto related topics but Just as a hobby and just for fun now Just as a little reminder here uh here's A headline from crypto news flash February 8th of this year Ripple am m m Ambitions delayed critical bug halts xrp Ledger XLS 30d Amendment launch X ls30 Of course being the automated Market Maker Amendment and so there already was A bug and mind you the threshold to get The thing approved that actually was Achieved and then uh the validator nodes Changed their votes upon discovery of This uh and then the bug ultimately was Fixed and then uh there was another Voting process uh got to that that 80% Plus plus threshold uh 2 weeks past and It just went live the other day and I I Do think that they kind of hyped this up In this article a little bit too much Like calling it a critical bug frankly It's a it was a bug fair enough and it Was discovered a little too late but It's something that would only occur in Very Fringe cases in fact they cite here The problem a bug was found that could Obstruct the processing of multiple amm Transactions within the same Ledger Especially when trading fees are set
Below 0 1% and so that wouldn't even Normally be the case but yes it's above And it was ultimately fixed but to call It critical and something like it was so Minuscule and so widely understood at That point that there are a lot of Validators that are like oh it's not a Big deal we can just fix this thing just Push the thing through anyway because It's not something that's actually Realistically going to harm anybody um And so there was some dispute on that And I covered it at the time but I'm Just highlighting this to remind you This hasn't exactly been a clean roll Out um and so here though here was the News the other day and I I was talking About this in my very last video Actually I didn't know I'd be making Another video covering immediately the Automated Market maker but here we are Headline from the Crypt basic xrp Passive income opportunity as xrpl Automated Market maker finally launches With 121 xrp liquidity pools live and Indeed this is a cool thing and I have All the optimism in the world that this Is going to be fixed and likely to be Over the long call a very big success And it does provide opportunity for the Everyday xrp holder to have a passive Income by providing liquidity on The xrp Ledger with this new Amendment which Just went live the other day and so
Piece reads as follows the long awaited Automated Market maker or amm for short Functionality on The xrp Ledger Blockchain has finally gone live Ushering passive incoming ear earning Potentials for the xrp Army the rlex Team disclosed the launch of the xrpl Amm yesterday March 22nd recognizing it As an evolution of the Native Decentralized exchange on The xrp Ledger And here's what David Schwarz said about It as it went live after 2 years the day Has finally arrived the amm is live on Xrpl mainnet thus begins a longer Road From today's initial roll out to Future Growth milestones for users Traders devs Market makers and many more looking Forward to the journey alongside all of You and the xrpl community and so uh I Don't think many people guess that Literally the very next day Ripple would Be saying ah don't use this ah crap Which is what it's basically the post on Your screen this is from the um Ripple X Account and uh it reads as follows and This is just shared you know about six Six or so hours ago we've identified a Discrepancy in a few amm pools in which Transactions are not executing as Intended our engineering team is working To resolve the issue alongside Community Participants out of an abundance of Caution it's best not to deposit new Funds into amm pools for now and those
Holding LP tokens consider redeeming Them we'll provide updates on this Thread as soon as possible and so think About that if they're warning you uh not Only don't jump in and start using it if You're using it maybe get the hell out Of here that's why they said maybe Consider redeeming those LP tokens uh Well the only reason they say that is if There was even if it's just a fringe Chance the possibility that something Could go disastrously long and there Could be actual Financial harm as a Result of this now I've seen no uh I've Seen no indication that has been the Case I'm not saying that's probable this Is just Ripple being responsible so out Of an abundance of caution saying maybe Get the hell out of here until we get This thing figured out which is fair Enough you know that's that's totally Fair I'm glad they put this out this is The responsible thing to do it's just Kind of a shame it went down like this And to be clear I'll say it one more Time this is not to crap on all the People that put in the hard work to make This thing happen I'm just acknowledging It's unfortunate and getting the word Out spreading the warnings that Hopefully none of uh my fellow xrp Community members end up being harmed as A result of this um and it's funny CU in My video literally yesterday I said hey
You know um I haven't played around with This thing yet I haven't played around With the uh amm myself yet haven't Tinkered with it but I'm curious about It and I one of the things I said is I'd Be particularly curious about what this Might mean moving forward but I'd feel Better about it uh you know once this Amendment has been live for a while and Had a track record because I wouldn't Want to put any sort of meaningful funds Into this thing until it's very clear That this thing has a serious uh record Of success Uh which means that there would be a Much lower probability that some sort of Bug would be discovered just like the Fact that the xrp Ledger has been around For over a decade very unlikely that There's going to be some sort of Devastating bug that would render The Xrp Ledger uses you know what I'm saying The more time passes the more people try And attack it the more confidence you Can have yeah it's probably fine same With Bitcoin pick your cryptocurrency That's just how it is and so um I would Never put and I said this in my last Video I like I I will not put any of my Xrp hoddle bag into into this thing but That's just because I strict rules that The crypto I purchase it does not get Touched either I sell it when I'm Sufficiently enticed to do so or I'm
Going to ride it to zero like that That's just it and so none of that is Going to go into this thing even if There weren't this bug but I did say um I'm kind of toying with the idea of Maybe just making a small purchase even If I'm just buying like 50 bucks worth Of xrp or 100 bucks just something you Know not not particularly large just so I can get my feet wet and kind of get Used to how this works um because I I Haven't done that yet but moving forward I just think it would be neat if I was You know to some more meaningful degree A liquidity provider utilizing you know I mean the fact that the amendment would Live that would be cool and so that's Something that I'd probably be even more Interested in um after this bull run I'm Just super focused on this bull run Right now and making sure that nothing Goes disastrously wrong but I could see Being interested in this over the Long Haul um after that um which doesn't mean I wouldn't play with it sooner than Later it's just that you know life's Busy so it's not like on my front burner It's a little bit on the back back Burner in terms of things I want to do But I I do want to do it person like I Think it would be neat to just dump in And uh see how this operates now as far As what the specific bug is here uh they Haven't said what that is I don't know I
Haven't found it anywhere Ripple hasn't Stated it nobody else seems to know I Went to all sorts of accounts that I Assumed would have known um and nobody Has anything so maybe by the time uh you Know people wake back up in the morning You know here at States uh hopefully we Got some because at the time I'm Recording this it's 1: 152 a.m. so you Know I'm not I'm not expecting to get Any news in the next five minutes here In terms of what this actually is but It's big enough that they're like yeah Don't use this thing whatever it is so Just be aware of that and don't Participate uh here's a post from Panos Who runs a notos and uh he reposted that And said stop using the amm All Interfaces do not deposit any new funds Redeem whatever you have deposited Immediately we are waiting for Ripple's Statement until then stay safe and do Not interact with the Amm um here's a post from xrp scan it Said uh please avoid depositing funds Into amm pools until further updates are Available this issue will most likely be Fixed via a new Ripple D release and Amendment voting process so folks uh if That's indeed the case and uh that may Very well end up being what happens that Means it'll have to be voted on again And then two weeks will have to pass Once you meet that vote threshold so
This could be a little bit out if that's Indeed the case um and I don't know for Sure I'm just sharing with you what People are saying right Now um here's a post from xrp Community Member pompus Maxi who wrote damned if You do damned if you don't give them a Effing break and I'll note that he's Reposting what Ripple X shared here on X The coveted amm everyone has been Advising to proceed with caution for This exact reason other chains have Perceived success with these features Because they get exploited and it's Written off as growing pains and you Shar the screen grab showing the Following Headline ethereum amm balancer exploited For roughly $900,000 Following following vulnerability Warning so there have been problems with This stuff before and this was just this Past August $900,000 So it's not that it's it's not that this Is something a problem that necessarily Is entirely unique to The xrp Ledger This stuff happens it's technology there Are going to be mishaps here but um That's why they're warning say just you Know be careful out the gate here and That's why I said um I I want a bit of a Track record before I do anything Serious with this automated Market maker I'm interested I I genuinely am for
Myself even but um I just I need to see A track record before I put any sort of Meaningful amount of money uh or value Into this thing so we'll see what Happens here uh again very optimistic That this is going to be fine in the Future it might take a little while but Uh it's just in the end it's going to be A blip on the radar this is one of those Things that you're are you going to Remember even five or 10 years from now Maybe vaguely but I think over the long Haul this is one of those amendments That once it's fixed and sufficiently up And running properly up and running uh I I think it's going to be meaningful over The Long Haul it's just that right out The gate it's just it's just one more Thing that I think is going to help to Ensure the long-term viability of The Xrp Ledger so it'll get fixed I'm Confident and I'll report back as soon As I know more about what the hell the Actual problem was but it's just not out There I've seen nothing about This I'm not a financial adviser you Should not buy yourself anything because Of anything I say or right that would be A very very very bad idea until next Time to the Moon Lambo
