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add how to find amm payment

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Oliver Eggert
2024-04-19 13:00:52 -07:00
parent fb7847d683
commit 023964e4ce
3 changed files with 15 additions and 9 deletions
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6
docs/concepts/tokens/decentralized-exchange/automated-market-makers.md
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@@ -29,6 +29,12 @@ An AMM holds two different assets: at most one of these can be XRP, and one or b
When users want to trade in the decentralized exchange, their [Offers](offers.md) and [Cross-Currency Payments](../../payment-types/cross-currency-payments.md) can automatically use AMMs to complete the trade. A single transaction might execute by matching Offers, AMMs, or a mix of both, depending on what's cheaper.
{% admonition type="info" name="Note" %}
You can determine if a `Payment` interacted with an AMM by checking for a [`RippleState`](../../../references/protocol/ledger-data/ledger-entry-types/ripplestate.md) ledger entry in the transaction metadata. A flag value of `16777216` indicates AMM liquidity was consumed.
{% /admonition %}
An AMM sets its exchange rate based on the balance of assets in the pool. When you trade against an AMM, the exchange rate adjusts based on how much your trade shifts the balance of assets the AMM holds. As its supply of one asset goes down, the price of that asset goes up; as its supply of an asset goes up, the price of that asset goes down. An AMM gives generally better exchange rates when it has larger overall amounts in its pool. This is because any given trade causes a smaller shift in the balance of the AMM's assets. The more a trade unbalances the AMM's supply of the two assets, the more extreme the exchange rate becomes.
The AMM also charges a percentage trading fee on top of the exchange rate.

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docs/concepts/tokens/fungible-tokens/paths.md
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@@ -9,7 +9,7 @@ labels:
---
# Paths
In the XRP Ledger, paths define a way for [tokens](../index.md) to flow through intermediary steps as part of a payment. Paths enable [cross-currency payments](../../payment-types/cross-currency-payments.md) by connecting sender and receiver through orders in the XRP Ledger's [decentralized exchange](../decentralized-exchange/index.md). Paths also enable complex settlement of offsetting debts.
In the XRP Ledger, paths define a way for [tokens](../index.md) to flow through intermediary steps as part of a payment. Paths enable [cross-currency payments](../../payment-types/cross-currency-payments.md) by connecting sender and receiver through orders and [automated market makers (AMM)](../../../concepts/tokens/decentralized-exchange/automated-market-makers.md) in the XRP Ledger's [decentralized exchange](../decentralized-exchange/index.md). Paths also enable complex settlement of offsetting debts.
A single Payment transaction in the XRP Ledger can use multiple paths, combining liquidity from different sources to deliver the desired amount. Thus, a transaction includes a _path set_, which is a collection of possible paths to take. All paths in a path set must start with the same currency, and must also end with the same currency as each other.
@@ -19,14 +19,14 @@ Since XRP can be sent directly to any address, an [XRP-to-XRP transaction](../..
A path is made of steps that connect the sender to the receiver of the payment. Every step is either:
* Rippling through another address with the same currency
* Trading tokens or XRP using an order book
* Rippling through another address with the same currency.
* Trading tokens or XRP using an order book or AMM.
[Rippling](rippling.md) is the process of exchanging equivalent tokens using the same currency code. In the typical case, rippling through an issuer involves reducing the tokens issued to one party and increasing the tokens issued to another party by an equal amount. The path step specifies which account to ripple through.
[Trading tokens and possibly XRP](../decentralized-exchange/index.md) involves going to an order book and finding the best exchange rate between the assets involved for the amount being sent. The path step specifies which currency to change to, but does not record the state of the Offers in the order book. The canonical order of transactions is not final until a ledger is validated, so you cannot know for certain which Offers a transaction will take, until after the transaction has been validated. (You can make an educated guess, since each transaction takes the best available Offers at the time it executes in the final ledger.) <!-- STYLE_OVERRIDE: will -->
[Trading tokens and possibly XRP](../decentralized-exchange/index.md) involves going to an order book or AMM and finding the best exchange rate between the assets involved for the amount being sent. The path step specifies which currency to change to, but does not record the state of the Offers in the order book. The canonical order of transactions is not final until a ledger is validated, so you cannot know for certain which Offers or AMMs a transaction will take, until after the transaction has been validated. (You can make an educated guess, since each transaction takes the best available exchange rates at the time it executes in the final ledger.) <!-- STYLE_OVERRIDE: will -->
In both types of steps, each intermediate address gains and loses approximately equal value: either a balance ripples from a trust line to another trust line in the same currency, or they exchange currencies according to a previously-placed order. In some cases, the amounts gained and lost may not be exactly equivalent, due to [transfer fees](../transfer-fees.md), trust line quality settings, or rounding.
In both types of steps, each intermediate address gains and loses approximately equal value: either a balance ripples from a trust line to another trust line in the same currency, or they exchange currencies according to a previously-placed order. In some cases, the amounts gained and lost may not be exactly equivalent, due to [transfer fees](../transfer-fees.md), AMM fees, trust line quality settings, or rounding.
[{% inline-svg file="/docs/img/paths-examples.svg" /%}](/docs/img/paths-examples.svg "Diagram of three example paths")
@@ -65,7 +65,7 @@ The default path could be any of the following:
* If the transaction uses only one token (regardless of issuer), then the default path assumes the payment should ripple through the addresses involved. This path only works if those addresses are connected by trust lines.
* If `SendMax` is omitted, or the `issuer` of the `SendMax` is the sender, the default path needs a trust line from the sending `Account` to the `issuer` of the destination `Amount` to work.
* If the `SendMax` and `Amount` have different `issuer` values, and neither are the sender or receiver, the default path is probably not useful because it would need to ripple across a trust line between the two issuers. Ripple (the company) typically discourages issuers from trusting one another directly.
* For cross-currency transactions, the default path uses the order book between the source currency (as specified in the `SendMax` field) and the destination currency (as specified in the `Amount` field).
* For cross-currency transactions, the default path uses the order book or AMM between the source currency (as specified in the `SendMax` field) and the destination currency (as specified in the `Amount` field).
The following diagram enumerates all possible default paths:
@@ -81,8 +81,8 @@ A path set is an array. Each member of the path set is another array that repres
| Field | Value | Description |
|:-----------|:-----------------------|:---------------------------------------|
| `account` | String - Address | _(Optional)_ If present, this path step represents rippling through the specified address. MUST NOT be provided if this step specifies the `currency` or `issuer` fields. |
| `currency` | String - Currency Code | _(Optional)_ If present, this path step represents changing currencies through an order book. The currency specified indicates the new currency. MUST NOT be provided if this step specifies the `account` field. |
| `issuer` | String - Address | _(Optional)_ If present, this path step represents changing currencies and this address defines the issuer of the new currency. If omitted in a step with a non-XRP `currency`, a previous step of the path defines the issuer. If present when `currency` is omitted, indicates a path step that uses an order book between same-named currencies with different issuers. MUST be omitted if the `currency` is XRP. MUST NOT be provided if this step specifies the `account` field. |
| `currency` | String - Currency Code | _(Optional)_ If present, this path step represents changing currencies through an order book or AMM. The currency specified indicates the new currency. MUST NOT be provided if this step specifies the `account` field. |
| `issuer` | String - Address | _(Optional)_ If present, this path step represents changing currencies and this address defines the issuer of the new currency. If omitted in a step with a non-XRP `currency`, a previous step of the path defines the issuer. If present when `currency` is omitted, indicates a path step that uses an order book or AMM between same-named currencies with different issuers. MUST be omitted if the `currency` is XRP. MUST NOT be provided if this step specifies the `account` field. |
| `type` | Integer | **DEPRECATED** _(Optional)_ An indicator of which other fields are present. |
| `type_hex` | String | **DEPRECATED**: _(Optional)_ A hexadecimal representation of the `type` field. |

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docs/references/protocol/transactions/types/payment.md
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@@ -88,7 +88,7 @@ For more information, see [Accounts](../../../../concepts/accounts/index.md#crea
## Paths
If present, the `Paths` field must contain a _path set_ - an array of path arrays. Each individual path represents one way value can flow from the sender to receiver through various intermediary accounts and order books. A single transaction can potentially use multiple paths, for example if the transaction exchanges currency using several different order books to achieve the best rate.
If present, the `Paths` field must contain a _path set_ - an array of path arrays. Each individual path represents one way value can flow from the sender to receiver through various intermediary accounts, order books, and automated market makers. A single transaction can potentially use multiple paths, for example if the transaction exchanges currency using several different order books to achieve the best rate.
You must omit the `Paths` field for direct payments, including: