XRP Ledger Lending Revision Splits Loan Proposal and Acceptance

A proposed XRP Ledger lending revision would require borrowers to accept pending loan proposals in a separate transaction, changing when loans become active as the system moves through development.

LendingProtocolV1_2 appears in the rippled development branch after LendingProtocolV1_1 and the original LendingProtocol amendment. The newest entry is marked unsupported. Its listing shows work on the protocol, but the change has not been activated on the ledger.

The proposal divides loan creation between two transactions. LoanSet would create a pending loan proposal, and the borrower’s LoanAccept would make it active. Acceptance would therefore follow the initial setup as a distinct step.

The revision concerns the proposed XRP Ledger lending system, which would draw funding from vaults that each hold a single asset. Its loans are designed to have fixed terms and no collateral, with borrower assessments taking place offchain. First-loss capital is intended to absorb defaults.

The original LendingProtocol amendment was included in rippled 3.1.0, released in January 2026. Subsequent software releases changed lending and vault handling further. Shipping the code alone does not switch on a ledger amendment.

Network activation requires support from more than 80% of trusted validators for two consecutive weeks. If support drops to 80% or lower during that period, the count restarts. Earlier voting checks showed the lending amendments below the required level, and no Mainnet activation date has been confirmed.

The lending revision is separate from fixCleanup3_4_0, a cleanup amendment whose approval period could end Oct. 23 if validator support holds. That fix addresses a token-permission flaw and includes changes to vault calculations and loan handling. It would not activate lending, even if it clears its own approval process.

For the proposed two-step loan process to reach Mainnet, LendingProtocolV1_2 must move beyond its unsupported status and complete the network’s amendment approval process.