{"id":1732,"date":"2026-05-26T15:08:26","date_gmt":"2026-05-26T15:08:26","guid":{"rendered":"https:\/\/ai-crypto-news.com\/?p=1732"},"modified":"2026-05-26T15:08:26","modified_gmt":"2026-05-26T15:08:26","slug":"xrp-ledger-foundation-amm-v2","status":"publish","type":"post","link":"https:\/\/ai-crypto-news.com\/de\/news\/xrp-ledger-foundation-amm-v2\/","title":{"rendered":"XRP Ledger Foundation stellt AMM v2 vor"},"content":{"rendered":"<p>Die XRP Ledger Foundation hat einen neuen Standardentwurf f\u00fcr eine erweiterte AMM-Architektur auf dem XRP Ledger ver\u00f6ffentlicht. Unter dem Titel \u201eAMM Swappable Curves\u201c soll der bestehende XLS-30-AMM um ausw\u00e4hlbare Kurven erweitert werden, darunter StableSwap und konzentrierte Liquidit\u00e4t. F\u00fcr den XRPL-DEX w\u00e4re das ein technischer Schritt weg vom Einheitsmodell des Constant-Product-AMM hin zu spezialisierten Liquidit\u00e4tspools f\u00fcr unterschiedliche Marktsegmente.<\/p>\n<h2>XRP Ledger Foundation stellt AMM v2 mit neuen Kurven vor<\/h2>\n<p>Die XRP Ledger Foundation <a href=\"https:\/\/x.com\/XRPLF\/status\/2059256866073436455\" target=\"_blank\" rel=\"noopener\">k\u00fcndigte<\/a> auf X die Ver\u00f6ffentlichung eines neuen Standards f\u00fcr \u201eAMM v2\u201c an. \u201eHeute ver\u00f6ffentlichen wir einen neuen XRP-Ledger-Standard f\u00fcr AMM v2\u201c, schrieb die Stiftung. \u201eNeue Pool-Kurven wie StableSwap und konzentrierte Liquidit\u00e4t erh\u00f6hen die Kapitaleffizienz und stabilisieren die Preisbildung f\u00fcr Stablecoins, Devisenm\u00e4rkte, RWAs und dar\u00fcber hinaus auf dem XRPL DEX.\u201c Der zugeh\u00f6rige GitHub-Entwurf tr\u00e4gt den Titel \u201eAMM Swappable Curves\u201c und wird als Amendment-Draft gef\u00fchrt.<\/p>\n<p>Der Entwurf wurde von Denis Angell, im Repository als Maintainer und Autor gef\u00fchrt, sowie Roman Thpt als Co-Autor eingereicht. In der Spezifikation hei\u00dft es: \u201eDiese Spezifikation erweitert den nativen AMM des XRPL, XLS-30, um eine Architektur mit austauschbaren Kurven. Pool-Ersteller w\u00e4hlen bei der Erstellung eine Invariant-Funktion aus.\u201c Als initiale Kurventypen sind ConstantProduct, ConcentratedLiquidity und StableSwap vorgesehen; Weighted-Pools im Balancer-Stil bleiben als CurveType 3 reserviert, w\u00e4hrend Smart AMM als CurveType 4 in einer separaten Spezifikation folgen soll.<\/p>\n<p>Technisch soll CurveType 0 dem bestehenden Constant-Product-Modell entsprechen und damit r\u00fcckw\u00e4rtskompatibel zu XLS-30 bleiben. F\u00fcr neue Kurventypen wird der Kurventyp in die Pool-Kennung einbezogen, wodurch verschiedene AMM-Pools f\u00fcr dasselbe Handelspaar parallel existieren k\u00f6nnen. Der Entwurf formuliert dazu: \u201eF\u00fcr CurveType gr\u00f6\u00dfer als 0 wird der Kurventyp in den Hash aufgenommen, wodurch ein eigener Keylet pro Kurventyp entsteht. Dies erlaubt mehrere Pools pro Token-Paar \u2014 einen f\u00fcr jeden Kurventyp \u2014 und erm\u00f6glicht neue Kurven-Deployments, ohne bestehende Constant-Product-Pools zu beeinflussen.\u201c<\/p>\n<h2>StableSwap und konzentrierte Liquidit\u00e4t f\u00fcr XRPL<\/h2>\n<p>Die Motivation des Entwurfs liegt vor allem in Kapitaleffizienz und Marktsegmentierung. \u201eDer aktuelle XLS-30-AMM implementiert eine einzige Invariante, Constant Product, mit gleichm\u00e4\u00dfig verteilter Liquidit\u00e4t\u201c, hei\u00dft es in der Spezifikation. \u201eDas ist f\u00fcr korrelierte Paare kapitaleffizient schwach und f\u00fcr spezialisierte M\u00e4rkte unflexibel.\u201c Der Entwurf erg\u00e4nzt, dass volatile Paare weiter vom Constant-Product-Modell profitieren k\u00f6nnen, w\u00e4hrend Stablecoin-Paare f\u00fcr StableSwap und engere oder professionell gemanagte M\u00e4rkte f\u00fcr konzentrierte Liquidit\u00e4t geeignet seien.<\/p>\n<p>Bei konzentrierter Liquidit\u00e4t sollen LPs Preisbereiche definieren, in denen ihre Liquidit\u00e4t aktiv ist. Die Spezifikation beschreibt: \u201eKonzentrierte Liquidit\u00e4t ist tick-basiert. LPs legen eine Preisspanne fest, [tickLower, tickUpper].\u201c Anders als bei fungiblen LP-Token im klassischen AMM-Modell werden CL-Positionen als eigene Ledger-Objekte gef\u00fchrt. Der Entwurf stellt klar: \u201ePositionen in konzentrierter Liquidit\u00e4t sind nicht fungibel. Jede Position ist ein separater Ledger-Eintrag.\u201c Geb\u00fchren k\u00f6nnen \u00fcber eine neue Transaktion, AMMCollectFees, eingesammelt werden, ohne Liquidit\u00e4t zu entfernen.<\/p>\n<p>StableSwap ist im Entwurf f\u00fcr Verm\u00f6genswerte vorgesehen, die nahe an einem Eins-zu-eins-Verh\u00e4ltnis handeln, etwa Stablecoins oder bestimmte FX- und RWA-M\u00e4rkte. \u201eStableSwap nutzt die Curve-Finance-Invariante, optimiert f\u00fcr Assets, die nahe 1:1 gehandelt werden\u201c, hei\u00dft es. F\u00fcr den Amplification-Faktor nennt die Spezifikation eine Spanne von 1 bis 5000; A=1 falle auf Constant Product zur\u00fcck, A=100 stehe f\u00fcr \u201eetwa 100-fache Kapitaleffizienz nahe dem Peg\u201c, und A=5000 beschreibe eine nahezu flache Kurve f\u00fcr eng gekoppelte Assets. \u00c4nderungen am Amplification-Wert sollen \u00fcber AMMVote m\u00f6glich sein, jedoch mit maximal 10 Prozent Ver\u00e4nderung pro 24 Stunden.<\/p>\n<p>F\u00fcr bestehende XRPL-AMM-Pools sieht der Entwurf keine Migration vor. \u201eBestehende XLS-30-Pools ben\u00f6tigen KEINE Migration\u201c, hei\u00dft es ausdr\u00fccklich. \u201esfCurveType ist standardm\u00e4\u00dfig 0, wenn nicht vorhanden. Alle bestehenden Transaktionen verhalten sich byte-identisch wie vor dem Amendment.\u201c Aktiviert w\u00fcrde die Erweiterung \u00fcber featureAMMCurves, mit DefaultNo-Abstimmungsverhalten und Abh\u00e4ngigkeiten von featureAMM sowie fixAMMv1_1. Smart AMM mit WASM-basierten programmierbaren Pools bleibt einem sp\u00e4teren Amendment vorbehalten.<\/p>\n<p><em>KI-Transparenzhinweis: Dieser Artikel wurde mit Unterst\u00fctzung eines KI-Systems auf Basis der angegebenen Quellen vorbereitet und vor der Ver\u00f6ffentlichung redaktionell durch einen menschlichen Editor gepr\u00fcft, bearbeitet und freigegeben. Alle Zitate, Daten und Tatsachenbehauptungen sollen aus den genannten Quellen stammen; dennoch k\u00f6nnen Fehler nicht vollst\u00e4ndig ausgeschlossen werden.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Die XRP Ledger Foundation skizziert AMM v2 mit StableSwap und konzentrierter Liquidit\u00e4t, um XRPL-Pools effizienter f\u00fcr Stablecoins, FX und RWAs zu machen.<\/p>\n","protected":false},"author":2,"featured_media":1733,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[72],"tags":[89],"class_list":{"0":"post-1732","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news","8":"tag-xrp"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.6 (Yoast SEO v27.6) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>XRP Ledger Foundation 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