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Add specification for a capital-efficient AMM enabling liquidity providers to concentrate capital within specific price ranges. Introduces three new ledger entries (CLAMM, CLAMMTick, CLAMMPosition), seven transactions, and four RPCs. Positions are represented as NFTokens (XLS-20) for secondary market trading. Structured per AMENDMENT_TEMPLATE.md with full subsections for ledger entry ownership, reserves, deletion, invariants, and transaction failure conditions with error codes. Ref: XRPLF#427
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Rename XLS-draft-concentrated-liquidity-amm to XLS-0098-concentrated-liquidity-amm and set xls: 98 in preamble per bot assignment. Ref: XRPLF#427
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@RomThpt the bot doesn't handle PR concurrency well, fixed the numbers for you |
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- Add CLAMMTickBitmap ledger entry (4.1.4): compressed 256-bit bitmap for efficient initialized tick lookup during swaps - Add CLAMMDelete transaction (4.2.8): removes empty pools from ledger, supports multi-call cleanup with tecINCOMPLETE for large directories - Add CLAMMClawback transaction (4.2.9): issuer clawback of tokens from holder CLAMM positions, with tfClawTwoAssets flag support - Update abstract: 3 -> 4 ledger entries, 7 -> 9 transactions - Update index and summary tables
Ledger entries: - Fix type codes: CLAMM 0x008A, CLAMMTick 0x008B, CLAMMPosition 0x008C - Fix TradingFee type: UINT32 -> UINT16 - Rename Liquidity -> LiquidityAmount to match sfLiquidityAmount - Add missing fields: Account (pseudo-account), VoteSlots - Fix LiquidityNet type: INT128 -> UINT128 (two's complement) - Fix PreviousTxnID/Seq optionality: REQUIRED -> OPTIONAL Transactions: - Document Asset/Asset2/FeeTier as alternative to PoolID on all tx - Fix CLAMMWithdraw.LiquidityAmount: REQUIRED -> OPTIONAL - Fix CLAMMVote.TradingFee: OPTIONAL -> REQUIRED - Rename CLAMMSwap fields: AmountIn -> Amount, MinAmountOut -> DeliverMin RPCs: - clamm_info: add account, protocol_fees, frozen, amount/2, vote_slots - clamm_positions: add nftoken_id lookup, owner field, default limit 100 - clamm_ticks: rename tick_lower/upper -> min_tick/max_tick, limit 100 - clamm_quote: fix response fields (fee_amount, final_sqrt_price, input_asset, output_asset, final_tick), remove sqrt_price_limit - Document asset/asset2/fee_tier alternative on all RPCs
RomThpt
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Mar 20, 2026
Implement a Concentrated Liquidity Automated Market Maker for the XRP Ledger, enabling LPs to concentrate capital within specific price ranges for up to 4000x capital efficiency improvement over XLS-30. Ledger entries: - CLAMM (0x008A): pool state with current tick, sqrt price, liquidity - CLAMMTick (0x008B): per-tick liquidity and fee growth data - CLAMMPosition (0x008C): LP position linked to NFToken (XLS-20) - CLAMMTickBitmap (0x008D): compressed bitmap for tick lookup Transactions: - CLAMMCreate (85): create pool with asset pair, fee tier, initial price - CLAMMDeposit (86): add liquidity within a price range, mint NFToken - CLAMMWithdraw (87): remove liquidity, burn NFToken on full withdrawal - CLAMMSwap (88): direct swap through a pool - CLAMMCollectFees (89): collect accumulated fees without removing liquidity - CLAMMVote (90): vote on trading fee parameters - CLAMMBid (91): bid for auction slot (discounted fees, MEV protection) - CLAMMDelete (92): remove empty pools from ledger - CLAMMClawback (93): issuer clawback of tokens from CLAMM positions RPCs: clamm_info, clamm_positions, clamm_ticks, clamm_quote Integration: - Payment engine routing through CLAMM pools (CLAMMLiquidity/CLAMMOffer) - NFToken position transfer with fee settlement - NFTokenBurn blocked for CLAMM positions - ValidCLAMM invariant checker Tests: unit tests, payment routing, tick bitmap, fuzz testing Spec: XRPLF/XRPL-Standards#498
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Summary
CLAMM,CLAMMTick,CLAMMPosition), seven transaction types, and four RPCsStructure
The specification follows the AMENDMENT_TEMPLATE.md format with complete subsections for:
Related Discussion
This Draft XLS formalizes the proposal from Discussion #427.
Category: Amendment | Status: Draft | Requires: XLS-20