揭露真相：XRPL AMM 揭秘，打破神话

Anodos Finance 联合总监 Panos Mekras 最近澄清了围绕 XRPL 自动做市商（AMM）应用的普遍误解。 Mekras 强调 XRP 流动性是可选的，并鼓励用户将流动性提供作为单独的收入策略，而不是资产存储。他阐述了无常损失的概念，并强调了流动性提供和代币持有之间的区别，敦促用户关注创收而不是资本保值。

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

消除神话并揭开 XRP 账本自动做市商 (AMM) 的神秘面纱：深入分析

Introduction

介绍

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 账本自动做市商（AMM）的出现在加密货币生态系统中引发了相当大的兴趣和讨论。然而，这种新技术的引入伴随着不确定性，导致潜在用户产生误解和怀疑。为了消除这些普遍存在的误解并提供对 XRPL AMM 功能的全面了解，Anodos 财务联合总监 Panos Mekras 最近发表了一系列阐明性帖子。

Myth: XRP Liquidity Is Essential

误区：XRP 流动性至关重要

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强调，只有当用户主动选择提供流动性支持时，才需要XRP流动性。这种误解源于对 AMM 机制的有限理解。在XRPL AMM的背景下，用户无需持有XRP即可参与流动性提供。相反，他们可以向 AMM 贡献其他资产并赚取通过交易活动产生的奖励。

Myth: Liquidity Provision and Token Holdings Are Intertwined

误区：流动性供应和代币持有是相互交织的

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 进一步澄清了流动性提供和代币持有之间的区别。他建议用户将流动性提供作为一种单独的收入策略，而不是积累长期代币持有的手段。对流动性提供者的主要激励应该是产生的费用和交易收入，而不是代币本身。

Myth: Impermanent Losses Are Always Negative

误区：无常损失总是负数

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 阐述了无常损失的动态，这些损失通常归因于 AMM 网络中的流动性提供者。他解释说，与在 AMM 之外单独持有资产相比，无常损失代表了资产价值的潜在波动。虽然波动的市场状况可能导致短期资产贬值，但这些损失也可能是暂时的，从长远来看可能会逆转。

Myth: XRP Tokens Are Staked or Earned in AMM

误区：XRP 代币是在 AMM 中质押或赚取的

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 代币是通过参与 XRPL AMM 来质押或赚取的观点。他重申，XRP 代币仅作为交易媒介，没有通过 AMM 活动质押或赚取额外 XRP 代币的机制。

XRPL AMM Pool Designs and Risk Levels

XRPL AMM 矿池设计和风险级别

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 池的运行机制，强调了设计和风险级别的差异。美元/欧元等稳定币对由于其稳定性而风险相对较低。相反，包含高波​​动性数字资产（例如 XRP/XLM）的池具有更高的风险。

Recent AMM Upgrade Enhances Stability

最近的 AMM 升级增强了稳定性

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 最近进行了重大升级“fixAMMOverflowOffer”，解决了最新更新启动后出现的溢出问题。此次技术调整增强了AMM的稳定性和可靠性，增强了用户的信心。

Conclusion

结论

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的详细讲解和近期AMM的升级显着提高了用户对XRPL AMM的理解和认知。这些澄清有效消除了常见的误解，并为该平台的持续发展和采用奠定了基础。随着 XRPL AMM 的成熟和功能的扩展，它有望在塑造去中心化金融的未来方面发挥关键作用。