The XRP Ledger is heading toward an Oct. 23 upgrade that fixes a flaw in a token-burning permission. Its native lending system, however, remains below the approval threshold, so launch dates are uncertain.
The XRP Ledger (XRPL) is preparing to activate fixCleanup3_4_0 at approximately 09:34 UTC on Oct. 23, provided support holds above the required 80% threshold. The amendment secured its supermajority on Oct. 9, which started a mandatory two-week countdown.
By mid-October, approximately 26 to 29 validators out of 32 to 35 supported the change, according to XRPSCAN amendment tracking. If support slips to 80% or lower before activation, the countdown resets, and the amendment must then keep sufficient backing for another uninterrupted two weeks.
A token-burning permission could mint tokens
Perhaps the most interesting correction concerns PermissionDelegationV1_1, a feature activated Oct. 8. It lets account owners give another account limited authority to perform specific actions without surrendering their main account keys. One permission, called Paymentburn, is supposed to let an authorized account destroy certain tokens, but a software flaw could allow tokens to be created instead under specific conditions.
Official XRPL documentation warns operators against granting that permission until the cleanup amendment activates. The update also corrects how vaults calculate withdrawals, tightens the rules for declaring loans overdue and stops certain automated market maker transactions from destroying liquidity tokens without returning assets.
For ordinary XRP holders, the changes should be largely invisible. Node operators, however, need compatible software to keep following network consensus after activation.
Native lending still has no launch date
The cleanup includes several lending-related fixes even though native lending has not received approval. The proposed Lending Protocol would let users pool assets and fund fixed-term loans, while loan brokers would arrange terms and assess creditworthiness outside the blockchain.
Three separate amendments must activate to deliver the complete lending system. As of Oct. 15-17, the two lending amendments reportedly had approximately 17 to 19 supporting validators, or roughly 53%. The required Singleassetvault amendment had around 19 to 21 supporters, and all three remained short of the necessary supermajority.
Oct. 23 could therefore deliver software corrections that make lending infrastructure safer while the lending system itself remains unavailable.
Source: Bitcoin News
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