DeFi
TVL on AMMs exceeds 10 million XRP milestone
The total value locked (TVL) in XRP Ledger Automated Market Makers (AMM) exceeded 10 million XRP, while the amount of pure XRP locked reached 5.19 million tokens.
Vet, a renowned XRPL validator from UNL, drew attention to this remarkable growth in a recent article on from an explorer to show that the XRP tokens were locked. AMM swimming pools reached the 5 million mark.
TVL on XRPL reaches 10.3 million XRP
Referring to statistics from DeFi analytics platform DeXfi, Vet revealed that the total assets secured in XRPL AMM pools surged to a value of 10.2 million XRP, equivalent to 5.3 million dollars at the time of updating.
That’s a solid 10 million total locked XRP value!
With 500 pairs, we also reached 25% of the total Uniswap V3 pairs.
Optimistic about volume and swaps to catch up, AMM/DEX is at the center of all DeFi. https://t.co/NBvTghsfyO pic.twitter.com/CxhVI5oa7W
– Veterinarian 🏴☠️ (@Vet_X0) June 2, 2024
Notably, these current figures represent significant growth compared to values recorded six weeks ago in April. As reported by The Crypto Basicthe value of XRPL TVL was 7.4 million XRP in April, of which 3.7 million was pure XRP.
However, according to update According to figures from DeXfi, the XRPL TVL now stands at 10.3 million XRP, the equivalent of $5.4 million.
Importantly, the 10.3 million XRP represents the combined value of all crypto assets secured in XRPL AMMs, encompassing a variety of tokens such as Bitcoin (BTC), USDC, Sologenic (SOLO), Magnetic MAG) and USD.
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Of this total, the specific quantity of XRP tokens locked is 5,190,097 XRP tokens, valued at approximately $2.7 million at the time of writing.
XRP on AMM increases by 1.49 million in 10 days
Essentially, the XRP locked in AMM pools, which was around 3.7 million as of April 24, increased significantly by 40.27% as of June 2. This represents an addition of 1.49 million XRP in less than ten days.
Currently, the MAG/XRP AMM pool holds the largest TVL, 1.5 million XRP, the equivalent of $793,000. According to XRPS Analysis, 763,237 XRP tokens are locked in the pool. Additionally, this pool offers the highest annual percentage yield (APY) at 9.75%, coupled with a fee rate of 0.99%.
Overall, this significant TVL growth on XRPL AMMs comes just under two months after AMM functionality. has been presented on the XRP blockchain, providing XRP holders with a way to earn passive income.
Disclaimer: This content is informational and should not be considered financial advice. The opinions expressed in this article may include the personal opinions of the author and do not reflect the opinions of The Crypto Basic. Readers are encouraged to conduct thorough research before making any investment decisions. Crypto Basic is not responsible for any financial losses.
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