The XRP Ledger’s decentralized exchange is getting a significant upgrade proposal. The XRPL Foundation published a draft standard for what it calls “AMM Swappable Curves” on May 26, essentially blueprinting an AMM v2 that bolts StableSwap and Concentrated Liquidity pools onto the existing infrastructure.
What AMM v2 actually changes
The original AMM on XRPL, established through the XLS-30 amendment that went live on March 22, 2024, uses a constant product model. That’s the classic x*y=k formula that Uniswap V1 popularized years ago. Liquidity gets spread evenly across all possible prices, which means most of it sits idle at price points that never get traded.
AMM v2 doesn’t rip that out. The existing constant product pools stay exactly where they are, no migration required.
Instead, the proposal introduces pluggable curve types. Two are specified in the draft: StableSwap and Concentrated Liquidity.
