XRP Ledger LendingProtocolV1_1 Opens for Mainnet Validator Voting
The proposals would add single-asset vaults and fixed-term, uncollateralized loans, but no mainnet activation date has been confirmed.
The XRP Ledger is considering protocol changes that would add single-asset vaults and fixed-term, uncollateralized lending to the network, subject to validator approval and without a confirmed mainnet activation date.
The proposed lending stack has two layers. SingleAssetVault would combine one asset from multiple depositors and issue vault shares, while LendingProtocol would use those vaults to fund loans with fixed terms and no on-ledger collateral requirement.
Supported assets may include XRP, trust-line tokens and Multi-Purpose Tokens. The lending protocol would handle loan creation, repayment and related ledger records, while borrower underwriting and risk management would remain with external lenders, brokers or other market participants.
LendingProtocolV1_1 would add closed-ended vaults with subscription, investment and redemption phases. Deposits and withdrawals would be blocked during the investment phase as funds are deployed into loans. Redemption would follow loan maturity and repayment, with interest accounted for on a cash basis.
The XLS-65 specification covers Single Asset Vaults, while XLS-66 covers the Lending Protocol. Current amendment listings use the names SingleAssetVault, LendingProtocol and LendingProtocolV1_1. LendingProtocolV1_1 is listed as open for mainnet voting.
Trusted validators must support an amendment by more than 80% for two weeks before it can activate. If support falls to 80% or below, the waiting period restarts.
The proposals have not been confirmed as active on mainnet, and no current validator-support percentage or activation date has been provided. The next concrete step is validator approval, with LendingProtocolV1_1 currently listed as open for mainnet voting.
