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- XRP Ledger regained attention after Mato revived debate on the older DEX structure.
- Mato uses parallel order processing to reduce front-running and order sequencing risks.
- XRP Ledger updates include AMM curves, vaults, lending, and MXNB settlement support.
XRP Ledger reentered the crypto market debate after a Solana DEX project drew attention to older exchange designs. Former Ripple developer Matt Hamilton said XRPL had addressed similar order sequencing concerns years earlier. He pointed to its order book exchange model.
The discussion followed comments from Crypto Goblin about Mato, a Solana-based decentralized exchange project. Mato was presented by founder Thomas Gehrmann at Solana Summit Germany. The project uses a continuous clearing auction to reduce front-running and order sequencing games.
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XRP Ledger Order Book Returns to Focus
Mato’s design processes orders in parallel instead of placing them one at a time. Orders from users can stream across a user-set period before active demand and supply clear at a market price. That price updates as orders enter or leave the system.
The project argues that trading becomes fairer when no party controls sequencing during execution. It also removes priority for takers over other users. That message prompted Hamilton to compare the model with older XRP Ledger architecture.
Hamilton said the issue had been solved on XRPL 15 years ago. He also called XRPL the first decentralized exchange in existence. He added that other blockchains keep returning to problems already handled by earlier networks.
His response placed XRP Ledger’s early trading design back in focus. XRPL launched in 2012 with a built-in order book DEX. The feature allows users to trade XRP and issued tokens directly on the network.
XRPL documentation says its central limit order book does not need automated market makers to process swaps. Trades can use the order book, AMMs, or both, based on available liquidity. Ripple says the XRPL DEX has been operating as one of the earliest decentralized exchanges.
XRPL Developers Push New DEX and Lending Features
The system differs from many later DEX models. XRPL built exchange functions into the ledger rather than relying on external smart contracts. That structure keeps trading tools close to the base protocol and limits reliance on separate exchange contracts.
The design is still changing as developers propose new market tools. The XRPL Foundation recently proposed AMM Swappable Curves for the native automated market maker. The proposal would add StableSwap and concentrated liquidity options.
Other amendments could also expand XRP Ledger’s financial features. XLS-65 and XLS-66 are under voting and would add native vaults and fixed-rate lending. The plan would let users pool assets and fund fixed-term loans without outside smart contracts.
Enterprise-related work has also continued on the network. Ripple and Bitso recently launched the MXNB Mexican peso stablecoin on XRPL. The stablecoin was tied to Ripple’s Payments on DEX infrastructure for regulated settlement.
Hamilton’s comments do not mean Mato and XRPL use the same approach. Mato focuses on a continuous auction model for Solana, while XRPL has long used a native order book. Still, the debate shows how earlier blockchain designs can return to market discussions as new chains test different ways to handle order flow.
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