Ripple’s validator has voted in favor of two XRP Ledger amendments that would add single-asset vaults and a protocol-level lending framework to the network, as broader validator voting continues.
The proposed changes, known as XLS-65 and XLS-66, are designed to let users pool a single asset such as XRP, RLUSD, or another XRPL-issued token, and then use that liquidity to support fixed-term lending. Neither change is active yet, as each amendment still requires separate validator approval before it can be enabled on mainnet.
What the amendments would add
XLS-65 would introduce Single Asset Vaults on the XRP Ledger. Under that model, multiple depositors could contribute one asset type into a shared vault and receive proportional ownership shares in return. Those vaults are intended to act as liquidity sources for other services built on XRPL, including the proposed lending system.
XLS-66 would use liquidity from the vaults to fund fixed-term loans. The design separates off-chain credit checks from on-chain execution: underwriting would happen outside the ledger, while the XRP Ledger would manage loan terms, interest, repayments, servicing, defaults, settlement, and recordkeeping on-chain.
The proposal also includes a first-loss capital mechanism that could absorb initial losses before they reach vault depositors. According to the framework described in the proposal, that structure is meant to make the system more suitable for regulated lenders while preserving on-chain handling of the loan lifecycle.
Audit results and remaining caution
The lending code has undergone additional security review as validators evaluate whether the amendments are ready for mainnet use. Halborn carried out a re-audit and reported no critical or high-risk vulnerabilities.
The audit identified five issues in total: one rated medium risk, two low risk, and two informational. Ripple said those findings were either addressed or acknowledged. Even so, the review does not amount to a guarantee against every possible risk, and validator approval remains the deciding step for activation.
Early development and intended use cases
Developers are already testing possible implementations on XRPL’s Lending DevNet. One of the projects named in connection with the framework is SOIL, a yield protocol that plans to build lending markets and tokenized fixed-income products using the Single Asset Vault and Lending Protocol design.
A demonstration tied to the initiative showed assets being deposited into vaults and represented by tokens. That work remains preparatory, however, because both amendments must pass validator voting independently before the features can go live on the main XRP Ledger.
Broader XRPL upgrade context
The validator vote is taking place alongside the release of XRP Ledger version 3.3.0. That software update includes support for lending-related functionality as well as confidential transfers, transaction batching, sponsored fees, and configurable token features.
Validators still need to upgrade and assess each amendment separately. Evernorth, Ripple’s XRP treasury company, has described the lending framework as a possible route to institutional-grade returns, but the immediate next step is still governance: approval by XRPL validators for both XLS-65 and XLS-66. XRP was trading near $1.02 at the time of writing.
Source: crypto.news