This research paper focuses on the testing and evaluation of the proposed XRP Ledger (XRPL)-Automated Market Maker (AMM), designed to address the limitations observed in traditional Ethereum-based Automated Market Makers (AMMs), such as high transaction fees, significant slippage, high impermanent losses, synchronization issues, and low transaction throughput. XRPL-AMM leverages the swift, cost-efficient transaction capabilities of XRPL and its unique design, featuring a Continuous Auction Mechanism (CAM) that encourages arbitrage transactions for more efficient price synchronization with external markets. Our testing and evaluation of the proposed XRPL-AMM compares its performance against established players like Uniswap. Our evaluation results reveal that the XRPL-AMM, leveraging market volatility, outperforms Uniswap in various areas, including slippage and impermanent loss reduction, the pace of price synchronization, and overall operational efficiency. Our research contributes to the growing field of Decentralized Finance (DeFi) by providing comprehensive testing results that underline XRPL-AMM's potential as a more efficient alternative to current AMMs while encouraging further exploration in XRPL-based DeFi ecosystems.

翻译：本研究论文聚焦于对拟议的XRP账本（XRPL）自动做市商（AMM）进行测试与评估。该AMM旨在解决传统基于以太坊的自动做市商（AMMs）所存在的局限性，例如高昂的交易费用、显著的滑点、较高的无常损失、同步问题以及低交易吞吐量。XRPL-AMM利用了XRPL快速且成本效益高的交易能力及其独特设计，并引入了连续拍卖机制（CAM），该机制鼓励套利交易以实现与外部市场更为高效的价格同步。我们对拟议的XRPL-AMM进行了测试和评估，并将其性能与Uniswap等成熟平台进行了比较。评估结果表明，利用市场波动的XRPL-AMM在多个方面优于Uniswap，包括降低滑点和无常损失、加快价格同步速度以及提升整体运营效率。本研究通过提供详尽的测试结果，强调了XRPL-AMM作为当前AMMs更高效替代方案的潜力，同时鼓励在基于XRPL的去中心化金融（DeFi）生态系统中进行进一步探索，为不断发展的去中心化金融领域做出了贡献。