Sologenic, the digital asset trading firm co-founded by Bob Ras, has announced the integration of XRP Ledger’s automated market maker (AMM), XLS-30D, onto their developer network. This significant milestone follows a thorough security audit conducted by CertiK, a reputable player in blockchain auditing. The successful completion of the audit has paved the way for the AMM’s deployment on the XRPL blockchain.
Bob Ras, in a tweet, expressed his team’s confidence in the AMM’s security and revealed their plan to “flip the switch” once XLS-30D passes the necessary amendments and goes live on the XRPL blockchain. This integration marks a crucial step forward in enhancing Sologenic’s trading capabilities and expanding the utility of the XRP Ledger.
Last year, the XRPL AMM had become available for testing and development purposes. The recent announcement by CertiK affirms their comprehensive security audit, which scrutinized the underlying smart contract architecture of XLS-30D. The audit focused on identifying potential vulnerabilities and assessing the overall security of the AMM implementation.
CertiK’s validation process encompassed critical components such as the integration of a Central Limit Order Book for decentralized exchange, the auction mechanism, single-sided liquidity provision, and the absence of Miner Extractable Value (MEV). After careful analysis, CertiK concluded that the AMM meets the highest security standards, leveraging the advanced capabilities and intrinsic features of XRPL, including low transaction costs, fast block times, and fair transaction ordering.
Jason Jiang, Chief Business Officer at CertiK, expressed his gratitude for the opportunity to ensure that XRPL’s AMM implementation aligns with the highest security standards. CertiK’s extensive experience in collaborating with enterprises and their track record of uncovering vulnerabilities in software code have solidified their commitment to cultivating a safer and more secure blockchain ecosystem.
As Sologenic prepares to activate XLS-30D, traders and enthusiasts eagerly anticipate the enhanced trading experience and improved liquidity options that the integration will bring. The successful security audit by CertiK adds an additional layer of confidence in the reliability and robustness of the AMM, setting the stage for further advancements in decentralized trading on the XRPL blockchain.
