The XRP Ledger's proposed lending and single-asset vault amendments gained more validator votes but remain short of the support needed for mainnet activation. Separately, the XRP Ledger Foundation and XRPL Lending Network announced reward programs for educational content.
The XRP Ledger's LendingProtocol amendment had secured 22 votes from 35 trusted validators as of November 10, while SingleAssetVault had received 23. Both proposals need at least 29 supporting validators before the network can begin its two-week activation countdown.
That puts lending support at approximately 62.9% and the vault amendment at 65.7%. LendingProtocol needs seven more votes, and SingleAssetVault needs six.
Voting rules and recent progress
For either amendment to go live, more than 80% of trusted validators must support it for two straight weeks. If support drops below that level before the two weeks are up, the process starts over once enough validators vote in favor again.
Voting has moved since October, when LendingProtocol had 19 supporting validators on October 19 and SingleAssetVault had 21. A third amendment, LendingProtocolV1_1, has received 22 votes and changes how lending vaults operate and how interest payments are recorded.
In a November 11 statement, XRPL Lending Network said it was testing the proposed protocol and vaults, developing supporting infrastructure and sharing feedback with XRP Ledger developers. Its validator voted in favor of both amendments, but the group acknowledged that other validators must also back them before the features can run on mainnet.
How native lending would work
The framework combines two amendments, XLS-65 and XLS-66. Under Single Asset Vaults, users could deposit XRP, RLUSD, or other supported tokens into a shared pool and receive vault shares based on their deposit. The Lending Protocol would then let loan brokers use those pooled funds to issue fixed-term loans, with repayment obligations recorded on the ledger.
Unlike lending systems that require borrowers to post collateral, the proposed framework supports uncollateralized loans. Loan brokers would assess borrower creditworthiness outside the blockchain. A first-loss capital mechanism would let brokers provide funds to absorb an initial portion of borrower losses.
Education rewards accompany the vote
On November 10, the XRP Ledger Foundation announced up to $40,000 in awards for educators and content creators under a program called XRP Ledger Education Month. Participants can explain upcoming amendments, including the Lending Protocol, or produce material on XRP, consensus and the network's technology.
XRPL Lending Network then said it was preparing a separate $10,000 rewards pool denominated in XRP for content on lending technology and infrastructure, with further details to come.
Source: crypto.news
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