In Brief:
- XRP Ledger’s XLS-66 Lending Protocol has secured 21 validator approvals, reaching 60% support and requiring eight additional votes for activation.
- The proposed lending framework would enable fixed-term borrowing without cryptocurrency collateral, allowing depositors to earn interest through pooled lending arrangements.
- XLS-65 has secured 65.7% validator support, while LendingProtocolV1_1 holds 21 approvals, leaving both amendments below the required activation threshold.
The XRP Ledger’s proposed lending infrastructure has gained additional validator support, bringing the network closer to introducing native borrowing and lending services. According to XRPL validator Vet, the XLS-66 Lending Protocol amendment secured two additional Yes votes, advancing plans to introduce fixed-term lending on the XRP Ledger.
XLS-66 Lending Protocol Advances Toward Validator Approval
The amendment now holds 21 approvals from 35 trusted validators, representing 60% support, and requires eight additional votes to reach the 80% threshold. Reaching this threshold would initiate the mandatory two-week activation period.
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Meanwhile, a related amendment supporting the lending infrastructure has attracted stronger validator backing, reaching 65.7% approval. The XLS-66 amendment aims to introduce fixed-term lending directly on the XRP Ledger through agreements managed by loan brokers.
Unlike conventional decentralized lending platforms, the proposed framework would support loans without requiring borrowers to provide cryptocurrency collateral. Instead, loan brokers would assess borrowers, establish lending conditions, and manage repayment agreements.
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The system involves three participants, including depositors, loan brokers, and borrowers, each performing specific responsibilities. Depositors would supply digital assets to lending pools, while brokers would evaluate borrowers before approving financing arrangements.
Borrowers would subsequently receive funds and repay their obligations according to established schedules. Significantly, the upgrade could allow financial institutions to deploy capital through blockchain-based lending arrangements while offering depositors potential interest earnings.
XLS-65 Vault Amendment Secures 23 Validator Votes
The lending framework also depends on XLS-65, which would introduce Single Asset Vaults for pooling deposited digital assets. According to validator figures, XLS-65 has secured 23 approvals from 35 validators, representing approximately 65.7% support.
The amendment requires six additional votes to reach the mandatory 80% threshold and begin its two-week activation period. Meanwhile, validators are reviewing LendingProtocolV1_1, which introduces improvements involving closed-ended vaults and updated interest accounting.
LendingProtocolV1_1 currently holds 21 approvals, leaving eight additional votes required for supermajority support. All three amendments remain below the activation threshold, meaning their implementation depends on further validator approvals.
Each proposal must maintain at least 80% support throughout its mandatory two-week activation period before activation can occur. The latest voting figures indicate progress toward introducing native lending services, although the proposed upgrades have not yet secured activation.
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