揭露真相：XRPL AMM 揭秘，打破神話

Anodos Finance 聯合總監 Panos Mekras 最近澄清了圍繞 XRPL 自動做市商（AMM）應用的普遍誤解。 Mekras 強調 XRP 流動性是可選的，並鼓勵使用者將流動性提供作為單獨的收入策略，而不是資產儲存。他闡述了無常損失的概念，並強調了流動性提供和代幣持有之間的區別，敦促用戶專注於創收而不是資本保值。

Dispelling Myths and Demystifying the XRP Ledger Automated Market Maker (AMM): An In-Depth Analysis

消除神話並揭開 XRP 帳本自動做市商 (AMM) 的神秘面紗：深入分析

Introduction

介紹

The advent of the XRP Ledger Automated Market Maker (AMM) has sparked considerable interest and discussion within the cryptocurrency ecosystem. However, a shroud of uncertainty has accompanied the introduction of this novel technology, leading to misconceptions and doubts among prospective users. In an effort to dispel these prevalent myths and provide a comprehensive understanding of the XRPL AMM's functionality, Anodos Finance Co-Director Panos Mekras recently embarked on a series of elucidating posts.

XRP 帳本自動做市商（AMM）的出現在加密貨幣生態系統中引發了相當大的興趣和討論。然而，這種新技術的引入伴隨著不確定性，導致潛在用戶產生誤解和懷疑。為了消除這些普遍存在的誤解並提供對 XRPL AMM 功能的全面了解，Anodos 財務聯合總監 Panos Mekras 最近發表了一系列闡明性貼文。

Myth: XRP Liquidity Is Essential

迷思：XRP 流動性至關重要

Mekras emphasized that XRP liquidity is only required if users actively choose to provide liquidity support. This misconception stems from the limited understanding of AMM mechanisms. In the context of XRPL AMM, users can participate in liquidity provision without the need to hold XRP. Instead, they can contribute other assets to the AMM and earn rewards generated through trading activities.

Mekras強調，只有當使用者主動選擇提供流動性支援時，才需要XRP流動性。這種誤解源自於對 AMM 機制的有限理解。在XRPL AMM的背景下，使用者無需持有XRP即可參與流動性提供。相反，他們可以向 AMM 貢獻其他資產並賺取透過交易活動產生的獎勵。

Myth: Liquidity Provision and Token Holdings Are Intertwined

迷思：流動性供應和代幣持有是相互交織的

Mekras further clarified the distinction between liquidity provision and token holdings. He advised users to approach liquidity provision as a separate income strategy rather than a means of accumulating long-term token holdings. The primary incentive for liquidity providers should be the fees and trading revenues generated, not the token itself.

Mekras 進一步澄清了流動性提供和代幣持有之間的差異。他建議用戶將流動性提供作為一種單獨的收入策略，而不是累積長期代幣持有的手段。對流動性提供者的主要誘因應該是產生的費用和交易收入，而不是代幣本身。

Myth: Impermanent Losses Are Always Negative

迷思：無常損失總是負數

Mekras expounded on the dynamics of impermanent losses, often attributed to liquidity providers in AMM networks. He explained that impermanent losses represent potential fluctuations in asset value when compared to holding assets individually outside of the AMM. While volatile market conditions can lead to short-term asset devaluation, these losses can also be temporary and may reverse in the long run.

Mekras 闡述了無常損失的動態，這些損失通常歸因於 AMM 網路中的流動性提供者。他解釋說，與在 AMM 之外單獨持有資產相比，無常損失代表了資產價值的潛在波動。雖然波動的市場狀況可能導致短期資產貶值，但這些損失也可能是暫時的，從長遠來看可能會逆轉。

Myth: XRP Tokens Are Staked or Earned in AMM

迷思：XRP 代幣是在 AMM 中質押或賺取的

Mekras debunked the notion that XRP tokens are staked or earned through participation in the XRPL AMM. He reiterated that the XRP token serves solely as a medium for transactions, and there is no mechanism for staking or earning additional XRP tokens through AMM activities.

Mekras 揭穿了 XRP 代幣是透過參與 XRPL AMM 來質押或賺取的觀點。他重申，XRP 代幣僅作為交易媒介，沒有透過 AMM 活動質押或賺取額外 XRP 代幣的機制。

XRPL AMM Pool Designs and Risk Levels

XRPL AMM 礦池設計與風險級別

Mekras provided an overview of the operational mechanism of XRPL AMM pools, highlighting the differences in design and risk levels. Stablecoin pairs, such as USD/EUR, present relatively low risk due to their stability. Conversely, pools containing highly volatile digital assets, such as XRP/XLM, carry higher levels of risk.

Mekras 概述了 XRPL AMM 池的運作機制，強調了設計和風險等級的差異。美元/歐元等穩定幣對由於其穩定性而風險相對較低。相反，包含高波​​動性數位資產（例如 XRP/XLM）的池具有更高的風險。

Recent AMM Upgrade Enhances Stability

最近的 AMM 升級增強了穩定性

The XRPL AMM recently underwent a significant upgrade, 'fixAMMOverflowOffer', which addressed an overflow issue that arose after the launch of the latest update. This technical adjustment strengthens the stability and reliability of the AMM, fostering greater confidence among users.

XRPL AMM 最近進行了重大升級“fixAMMOverflowOffer”，解決了最新更新啟動後出現的溢出問題。此技術調整增強了AMM的穩定性和可靠性，增強了使用者的信心。

Conclusion

結論

Panos Mekras's detailed explanations and the recent AMM upgrade have significantly improved the understanding and perception of the XRPL AMM among users. These clarifications have effectively dispelled common misconceptions and laid the foundation for the platform's continued growth and adoption. As the XRPL AMM matures and its capabilities expand, it is poised to play a pivotal role in shaping the future of decentralized finance.

Panos Mekras的詳細講解和近期AMM的升級顯著提高了使用者對XRPL AMM的理解和認知。這些澄清有效消除了常見的誤解，並為該平台的持續發展和採用奠定了基礎。隨著 XRPL AMM 的成熟和功能的擴展，它有望在塑造去中心化金融的未來方面發揮關鍵作用。