RippleX has officially opened validator voting on the LendingProtocolV1_1 amendment, a technical upgrade designed to bring native lending capabilities directly to the XRP Ledger architecture.
The proposal introduces closed-ended vaults with three operational phases: subscription, investment, and settlement. During subscription, participants deposit capital and receive proportional pool shares. The investment phase halts new issuance and deploys accumulated funds into structured loans, while the settlement phase allows depositors to redeem principal and earned yield. By contrast, open vaults permit continuous deposits and withdrawals, but the lending mechanism will rely exclusively on closed vaults with predefined life cycles.
The amendment also shifts loan yield recognition to a strict cash-basis accounting model. Interest is recorded only after borrowers complete onchain payments, rather than booking projected interest at loan origination. This change is intended to prevent inflated balances and align reserves with realized liquidity.
Activation on mainnet requires LendingProtocolV1_1 to be ratified alongside two companion amendments: LendingProtocol, which governs loan management logic, and SingleAssetVault, which provides the foundational vault architecture. The code was introduced in node release xrpld 3.4.0 and subsequent maintenance release xrpld 3.4.1. Validator support must exceed 80% of trusted validators and remain there for two consecutive weeks; if support falls to 80% or below during that period, the activation countdown resets.
Separately, XRPL AI Hub reported nearly eight million transactions through its payment infrastructure, with settlements of 7,306.63 RLUSD and 6,207.40 XRP. However, the central focus remains the lending amendment vote and whether the validator set will maintain the qualified supermajority required to set an official mainnet activation date.
