XRPL Validators to Vote on Lending Protocol Update — Loans Coming to a Ledger Near You 📜

The XRP Ledger's new LendingProtocolV1_1 amendment is now open for validator voting, RippleX announced on X, marking the next step toward deploying native lending on the XRPL mainnet. LendingProtocolV1_1 introduces closed-ended vaults and cash-basis accounting for XRPL lending, and must activate before the LendingProtocol and SingleAssetVault amendments can proceed.

RippleX developer Shota Natenadze laid out the proposal in a Sept. 30 forum post, identifying three amendments required for the Lending Protocol to go live on the XRP Ledger mainnet. "LendingProtocol is the base lending engine: loan brokers, loan origination, repayment, default handling, and first-loss capital," Natenadze wrote, describing the core component of the lending architecture on XRPL.

The amendment builds on the existing open-ended vault structure by adding closed-ended vaults, which move through subscription, investment and redemption stages on XRP Ledger. RippleX stated that the LendingProtocolV1_1 vote must conclude successfully before the LendingProtocol and SingleAssetVault changes can move forward in the governance process.

The proposal is part of a broader effort by RippleX to expand XRPL's decentralized finance functionality, with lending positioned as one of the headline features of the network's next development phase. Validators are being asked to review the technical details and cast their votes as the protocol moves closer to mainnet activation.