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AMM

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Attention

Automated Market Maker (AMM) functionality is part of the proposed XLS-30d extension to the XRP Ledger protocol. You can use these functions on test networks for now. Until there is an amendment in a stable release, the details documented on these pages are subject to change.

The AMM object type describes a single Automated Market Maker (AMM) instance.

Example AMM JSON

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{
    "AMMAccount" : "rE54zDvgnghAoPopCgvtiqWNq3dU5y836S",
    "Asset" : {
      "currency" : "XRP"
    },
    "Asset2" : {
      "currency" : "TST",
      "issuer" : "rP9jPyP5kyvFRb6ZiRghAGw5u8SGAmU4bd"
    },
    "AuctionSlot" : {
      "Account" : "rJVUeRqDFNs2xqA7ncVE6ZoAhPUoaJJSQm",
      "AuthAccounts" : [
          {
            "AuthAccount" : {
                "Account" : "rMKXGCbJ5d8LbrqthdG46q3f969MVK2Qeg"
            }
          },
          {
            "AuthAccount" : {
                "Account" : "rBepJuTLFJt3WmtLXYAxSjtBWAeQxVbncv"
            }
          }
      ],
      "DiscountedFee" : 0,
      "Expiration" : 721870180,
      "Price" : {
          "currency" : "039C99CD9AB0B70B32ECDA51EAAE471625608EA2",
          "issuer" : "rE54zDvgnghAoPopCgvtiqWNq3dU5y836S",
          "value" : "0.8696263565463045"
      }
    },
    "Flags" : 0,
    "LPTokenBalance" : {
      "currency" : "039C99CD9AB0B70B32ECDA51EAAE471625608EA2",
      "issuer" : "rE54zDvgnghAoPopCgvtiqWNq3dU5y836S",
      "value" : "71150.53584131501"
    },
    "TradingFee" : 600,
    "VoteSlots" : [
      {
          "VoteEntry" : {
            "Account" : "rJVUeRqDFNs2xqA7ncVE6ZoAhPUoaJJSQm",
            "TradingFee" : 600,
            "VoteWeight" : 100000
          }
      }
    ]
}

AMM Fields

The AMM object has the following fields:

Field JSON Type Internal Type Required? Description
Asset Object STIssue Yes The definition for one of the two assets this AMM holds. In JSON, this is an object with currency and issuer fields.
Asset2 Object STIssue Yes The definition for the other asset this AMM holds. In JSON, this is an object with currency and issuer fields.
AMMAccount String AccountID Yes The address of the special account that holds this AMM's assets.
AuctionSlot Object STObject No Details of the current owner of the auction slot, as an Auction Slot object.
LPTokenBalance Currency Amount Amount Yes The total outstanding balance of liquidity provider tokens from this AMM instance. The holders of these tokens can vote on the AMM's trading fee in proportion to their holdings, or redeem the tokens for a share of the AMM's assets which grows with the trading fees collected.
TradingFee Number UInt16 Yes The percentage fee to be charged for trades against this AMM instance, in units of 1/100,000. The maximum value is 1000, for a 1% fee.
VoteSlots Array STArray No A list of vote objects, representing votes on the pool's trading fee.

Auction Slot Object

The AuctionSlot field contains an object with the following nested fields:

Field JSON Type Internal Type Required? Description
Account String - Address AccountID Yes The current owner of this auction slot.
AuthAccounts Array STArray No A list of at most 4 additional accounts that are authorized to trade at the discounted fee for this AMM instance.
DiscountedFee String UInt32 Yes The trading fee to be charged to the auction owner, in the same format as TradingFee. By default this is 0, meaning that the auction owner can trade at no fee instead of the standard fee for this AMM.
Price Currency Amount Amount Yes The amount the auction owner paid to win this slot, in LP Tokens.
Expiration String UInt32 Yes The time when this slot expires, in seconds since the Ripple Epoch.

VoteEntry Object

The VoteSlots field contains an array of VoteEntry objects with the following fields:

Field JSON Type Internal Type Required? Description
Account String - Address AccountID Yes The account that cast the vote.
TradingFee Number UInt16 Yes The proposed trading fee, in units of 1/100,000; a value of 1 is equivalent to 0.001%. The maximum value is 1000, indicating a 1% fee.
VoteWeight Number UInt32 Yes The weight of the vote, in units of 1/100,000. For example, a value of 1234 means this vote counts as 1.234% of the weighted total vote. The weight is determined by the percentage of this AMM's LP Tokens the account owns. The maximum value is 100000.

AMM Flags

There are currently no flags defined for AMM objects.

AMM ID Format

The ID of an AMM object is the SHA-512Half of the following values, concatenated in order:

  1. The AMM space key ( 0x0041 )
  2. The AccountID of the first asset's issuer.
  3. The 160-bit currency code of the first token.
  4. The AccountID of the second asset's issuer.
  5. The 160-bit currency code of the second token.

For XRP, use all 0's for both the token and the issuer.