RippleX announced on September 30 that the LendingProtocolV1_1 amendment is now open for validator voting on the XRP Ledger, marking a concrete step toward bringing native lending capabilitie
RippleX announced on September 30 that the LendingProtocolV1_1 amendment is now open for validator voting on the XRP Ledger, marking a concrete step toward bringing native lending capabilities to the network. The amendment introduces closed-ended vaults and cash-basis accounting for XRPL lending, and it must activate before LendingProtocol and SingleAssetVault can proceed.
The validator vote does not mean native XRPL lending is live yet. RippleX developers have confirmed the lending system depends on three amendments.For lending to become active on XRPL, three amendments must work together: LendingProtocolV1_1, LendingProtocol, and SingleAssetVault. LendingProtocol provides the core lending functions, including loan creation, repayment, and default handling, while SingleAssetVault provides the vault structure.RippleX developer Shota Natenadze explained the proposal in a September 30 forum post, noting that three amendments are required for the Lending Protocol to go live on the XRP Ledger mainnet.
The broader architecture is designed to support fixed-term, uncollateralized loans using pooled funds from Single Asset Vaults, with the protocol relying on off-chain underwriting and risk management rather than automated on-chain collateral liquidation.
In addition to the already existing open-ended vaults, LendingProtocolV1_1 would add closed-ended vaults on the XRP Ledger. The closed-ended version would go through subscription, investment, and redemption stages. On the accounting side, the amendment shifts the mechanism to a strict cash-basis model, where interest is recognized in contract balances only after the borrower completes the actual on-chain payment.This differs from recognizing scheduled future interest before payment is received. RippleX developers described the change as a more conservative accounting model because a vault's reported asset value would reflect money already received rather than expected future payments.
The amendment was included in XRP Ledger server version 3.4.0, released on September 16, which formally introduced LendingProtocolV1_1 to xrpld.
Opening a vote is only the start of the process. A proposed change must receive support from more than 80% of trusted validators and must maintain that level of support for two weeks. If support falls back to 80% or below during that period, the two-week countdown resets. The outcome of the current validator vote will determine whether the XRPL lending rollout can proceed to its next stage.
Sources:XRP Ledger LendingProtocolV1_1 Opens for Validator Voting (UseTheBitcoin)RippleX Puts Major XRPL Lending Upgrade to Vote (U.Today)XRPL Opens New Lending Protocol Amendment for Validator Vote (CryptoTimes)
