XRP Ledger Fix Could Activate Oct. 23 as Lending Amendments Lag

An XRP Ledger amendment that addresses a token-permission flaw could activate Oct. 23 if validator support stays above the network threshold, while three separate amendments for proposed lending remain short of approval.

The fix, fixCleanup3_4_0, is included in rippled version 3.4.0. Before it activates, an account delegated the PaymentBurn permission could, in some circumstances, create trust-line tokens or Multi-Purpose Tokens during a transaction intended to burn tokens. The amendment also includes other fixes involving vault calculations and loan handling.

PaymentBurn lets one account delegate certain token actions to another. XRPL documentation recommends against granting the permission until the amendment is active.

A software release does not activate an amendment across the network. More than 80% of trusted validators must support an amendment for two consecutive weeks. If support falls to 80% or less during that period, the two-week count restarts.

An Oct. 17 tally showed 19 validators supporting each of LendingProtocol and LendingProtocolV1_1, and 21 supporting SingleAssetVault. The threshold in that tally was 29 of 36 validators, leaving all three amendments short of approval.

The proposed lending system would pool funds in single-asset vaults to support fixed-term, uncollateralized loans on the ledger. Underwriting and borrower risk assessments would happen off-chain. The proposal for lending on the XRP Ledger depends on the three separate amendments; the cleanup fix does not activate the lending system.

No activation date is set for lending while its required amendments remain below threshold. The cleanup amendment could activate Oct. 23 if validator support holds.