The activation countdown for the “fixReducedOffersV1” upgrade on XRPL has begun, reaching over 80% consensus among validators. This amendment, part of the XRPL v1.12.0 update, addresses critical issues related to decentralised exchange (DEX) offerings. Users on Ripple v1.11.0 or earlier versions are advised to update within the two-week countdown period.
Among the amendments in XRPL v1.12.0, fixReducedOffersV1 is the only one securing an 80% consensus, aiming to enhance XRPL functionality by minimising obscured order books caused by reduced offers. The update ensures more favourable exchange rates for reduced offers on XRPL DEXs, improving overall system performance.
Updating to the latest XRPL version is crucial for continued participation as a node provider or in specific protocol functions. Without the fixReducedOffersV1 amendment, reduced offers may have unfavourable exchange rates for minimal remaining amounts, posing challenges for decentralised brokerage platforms on XRPL.
Launched in September, XRPL version 1.12.0 introduced notable features like fixReducedOffersV1, along with bug fixes and amendments related to the automated market maker and clawback function. Users needed to upgrade by Sept. 20 to avoid disruptions, and the update was a prerequisite for participating in the voting process for new amendments such as XLS-30.
XRPL has seen significant internal and external enhancements, with the recent completion of a security audit for the Xahau sidechain adding to its positive outlook.
