BITx XRPL AMM Pools!

[bitx]

There are currently around 12 BITx AMM (Automated Market Maker) Pools active on the XRPL and growing!

See https://bitx.fyi/bitx-token-list.html where you'll find links to the individual AMM Pools

[bitx]

You can also find all the operational BITx AMM pools by going to https://sologenic.org/amm and searching for 'BITx'

[XRPETF]

I support this, if BITx keeps adding AMMs and enough people do single-sided deposits of other tokens then it'll work in much the same way as the BITx distribution method?

[XRPETF]

Most who take the time to provide liquidity probably not the sort to go swapping for the other asset unless they 'know' the other one is going to do some kind of moonshot, I am not worried, BITx is too desirable.. like Bitcoin

[bitx]

One thing that we have noticed with the XRPL AMMs is that, as in the case for BITx which has multiple pools including an XRP pool) if someone does a single-sided deposit into one other the other BITx pools (for example BITx/XRdoge) the XRP from the sold XRdoge is added to the BITx/XRP pool.. so it raises the XRP value of BITx in the BITx/XRP pool even though the single-sided deposit was done on the BITx/XRdoge pool (of course the BITx value relative to XRdoge also increases in the BITx/XRdoge AMM pool as not all the XRdoge is sold for XRP when the single-sided deposit is done). Conversely, the opposite happens in the XRdoge/XRP AMM pool where the amount of XRdoge in the pool increases relative to the XRP. If there is enough liquidity in the AMMs it doesn't seem to have an effect on the LOB.

Also, even though we think these transactions should be counted as 'volume' for all tokens/coins involved. It doesn't seem to be counted as such (at least not on Sologenics Market Index)

[XRPETF]

Hmm interesting to know, I assumed single-sided deposits would sell the single asset for XRP then use that XRP to buy BITx in the same pool (BITx/XRdoge in your example)

[notsatoshi]

BITx should create an AMM pool for every asset on the list (https://bitx.fyi/bitx-token-list.html)