XRPL lending proposal gains votes but remains below threshold

The amendments must retain support from more than 80% of trusted validators for two consecutive weeks to activate on mainnet. If support falls below that level during the period, the countdown restarts once the threshold is met again. At the latest count, LendingProtocol had about 62.9% support and needed seven more votes; SingleAssetVault stood at 65.7%, six votes short. A third proposal, LendingProtocolV1_1, had 22 votes.

In a November 11 statement, XRPL Lending Network said it had voted for both amendments and was testing the technology, building supporting infrastructure and sharing feedback with XRP Ledger developers. The group said it was also working to explain the proposals and encourage community testing. It is preparing a separate $10,000 XRP rewards initiative for creators covering XRPL lending, with further details to come.

The framework would be introduced through amendments XLS-65 and XLS-66. Single Asset Vaults would let users deposit XRP, RLUSD or other supported tokens into shared pools and receive vault shares in return. Loan brokers could use pooled funds to issue fixed-term loans, with repayments and related transactions recorded on the ledger. The proposed loans would be uncollateralized: brokers would assess borrowers’ creditworthiness off-chain and manage lending risks. A first-loss mechanism would let brokers provide funds to absorb an initial portion of potential losses.

LendingProtocolV1_1, introduced in XRPL version 3.4.0, would add closed-ended vaults with subscription, investment and redemption periods. It would also record interest income as borrowers make payments rather than recognize all scheduled interest when a loan is issued. Separately, the XRP Ledger Foundation announced up to $40,000 in awards for educational material about the network and upcoming amendments. Its XRP Ledger Education Month accepts videos, tutorials, articles, explanatory threads, graphics and other submissions, judged on clarity, accuracy, creativity, community relevance and consistency.