RippleX has opened validator voting on LendingProtocolV1_1, an amendment that adds closed-ended lending vaults and cash-basis accounting to the XRP Ledger. The amendment must activate alongside two related amendments before any lending market can go live, and validators need sustained support above 80% for two weeks to pass it.
RippleX announced on Sept. 30 that validators can now evaluate and vote on LendingProtocolV1_1, a step toward the XRP Ledger's native lending infrastructure. The amendment was included in XRP Ledger server version 3.4.0, released on Sept. 16, which formally introduced it to the network's server software, xrpld.
Opening the vote is not the same as activating the change. A proposed amendment needs support from more than 80% of trusted validators, and that level of support must hold for two weeks straight. If support drops back to 80% or below during that window, the two-week countdown resets.
Closed-ended vaults join the design
LendingProtocolV1_1 brings two changes to the XRPL's lending architecture: closed-ended lending vaults and cash-basis accounting. It extends two other amendments already proposed for the ledger, LendingProtocol and SingleAssetVault, and RippleX says all three must activate together before lending can function.
Single Asset Vaults pool one type of asset from multiple depositors and make that capital available to another protocol. A vault can hold XRP, a trust line-issued token, or a Multi-Purpose Token. The existing open-ended vault design works like a continuously accessible investment pool, where users deposit capital and receive shares based on the prevailing price per share. LendingProtocolV1_1 adds the ability to create a second, closed-ended type of vault alongside it.
A procedural step, not a launch
Approving LendingProtocolV1_1 on its own would not create a functioning XRPL lending market. Therefore, the changes it carries only take effect once SingleAssetVault and LendingProtocol also activate. The Sept. 30 vote marks a procedural milestone in that sequence, not the arrival of lending on the ledger.
Source: U.Today
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