Move more amendment disclaimers to end of section

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mDuo13
2025-10-06 14:27:46 -07:00
parent 07f4436b45
commit f509c4b185
25 changed files with 82 additions and 108 deletions

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@@ -3,14 +3,12 @@ seo:
title: Automated Market Makers (AMMs)
description: Automated Market Makers (AMMs) are an essential part of cryptocurrency, providing liquidity between asset pairs. Learn more about AMMs and the XRP Ledger.
labels:
- XRP
- Decentralized Exchange
- AMM
- XRP
- Decentralized Exchange
- AMM
---
# Automated Market Makers
{% amendment-disclaimer name="AMM" /%}
Automated Market Makers (AMMs) provide liquidity in the XRP Ledger's decentralized exchange (DEX). Each AMM holds a pool of two assets. You can swap between the two assets at an exchange rate set by a mathematical formula.
![Automated Market Maker](/docs/img/cpt-amm.png)
@@ -25,10 +23,8 @@ LP tokens enable liquidity providers to:
- Vote to change the AMM fee settings, each vote weighted by how many LP tokens the voter holds.
- Bid some of their LP tokens to receive a temporary discount on the AMM trading fees.
<!--
## What is an AMM?
{% amendment-disclaimer name="AMM" /%}
-->
## How the AMM Works

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@@ -100,14 +100,14 @@ This is a consequence of how the network reaches agreement. For the entire peer-
## Permissioned and Hybrid Offers
{% amendment-disclaimer name="PermissionedDEX" /%}
By specifying a valid **permissioned domain ID**, you can place offers into a permissioned DEX instead of using the open DEX. You can only place a _permissioned offer_ if you hold the [credentials](../../decentralized-storage/credentials.md) required by the permissioned domain, and permissioned offers can only match other offers in the same permissioned domain. You can also place a _hybrid offer_ by using a domain ID and the Hybrid flag. Hybrid offers work like permissioned offers except that they can also match offers in the open DEX. Businesses with strict compliance requirements may want to use a permissioned DEX exclusively while traders with more relaxed compliance requirements can use hybrid offers to provide liquidity in more places.
In most ways, permissioned and hybrid offers function like regular offers. They support all the same options, such as Fill-or-Kill, and are subject to the same requirements like the reserve per offer. One difference is that offers in a permissioned DEX can become _invalid_ if the account placing the offer loses access to the permissioned domain, for example because their credentials expired.
For more information, see [Permissioned DEXes](./permissioned-dexes.md).
{% amendment-disclaimer name="PermissionedDEX" /%}
## See Also