Overview
- The XRPL Foundation published the AMM Swappable Curves draft on Tuesday, May 26, proposing three initial curve types — constant product, concentrated liquidity, and StableSwap — with a reserved programmable Smart AMM for later.
- Under the design pool creators would pick a curve when they create a pool and that curve would remain locked for the pool’s lifetime, while existing XLS‑30 constant‑product pools would stay unchanged and require no forced migration.
- Concentrated liquidity concentrates capital into narrow price ranges to boost usable depth per dollar and StableSwap flattens pricing near a peg to let large trades execute with much lower slippage, which suits stablecoin pairs and tokenized assets.
- The change is a ledger‑level amendment that must win a validator supermajority vote over the XRPL amendment window before it can activate, so timing is uncertain and approval is not guaranteed.
- If approved the upgrade could make XRPL more attractive for institutional tokenization flows by improving on‑chain trading efficiency for over $3 billion of tokenized assets already on the ledger and by enabling multiple pool types per asset pair for better routing.