The XRP Army recently held an X space conversation under the title “What’s happening with XRP?” One of the facilitators with X username Dark Horse asked Ripple’s Chief Technology Officer, David Schwartz, about the status of Ripple Prisma, an API mentioned in court documents for On-Demand Liquidity (ODL).
In response, Ripple CTO explained that, currently, ODL does not utilize decentralized exchanges (DEXs). However, he noted ongoing investigations into incorporating DEX services into ODL, potentially allowing trading against automated market makers (AMMs).
🤯 EPIC DISCOVERY by @DarkhorseDNME4#Ripple proprietary tech powering ODL & Liquidity Hub from internal meeting @joelKatz confirms Major Effort to integrate ODL into #XRPL DEX/AMM
💎#PRISMA💎
48min YT video breaking it down
👉 https://t.co/IGigDpaznj
👇13min Preview Video👇… pic.twitter.com/K6NWu1M4Zk— Mickey_B_Fresh☀️🪝 (@MrFreshTime) September 2, 2023
Schwartz elaborated on Prisma’s capabilities. He highlighted its ability to leverage DEX liquidity and multiple exchange liquidity. According to him, Prisma can break down large transactions into smaller, more manageable ones, optimizing liquidity utilization. This approach may involve spreading out transactions over time, which, although slightly increasing volatility risk, results in lower costs.
While there is a concerted effort to integrate DEX usage into ODL, it has not yet been implemented. Schwartz pointed out that one crucial factor for making this integration practical is the availability of robust stablecoins in major currencies, such as a stable US dollar or Euro coin. He noted that currently, these stablecoins are lacking, but there is hope for their development in the future.
Meanwhile, Schwartz mentioned that Ripple came close to an opportunity to integrate stablecoin on the XRP ledger two and a half years ago. However, according to him, the SEC lawsuit disrupted opportunity. The action ultimately extinguished the headway to integrating stablecoins and DEX usage into ODL.
Nevertheless, the Ripple CTO clarified that Ripple is actively engaged in discussions with banks and larger financial institutions to encourage the launch of premium stablecoins
