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XRP Ledger Bug Fix Nears Approval as Lending Launch Remains on Hold
The patch closes a token-creation loophole and adjusts loan and vault rules while the lending system remains 10 votes short of approval.
- On Oct. 23, a batch of bug fixes will go live on the XRP Ledger, though the lending system Ripple pitched remains inactive and is 10 votes short of approval.
- Network rule changes require backing from more than 80% of the 35 Validators—29 votes held for two weeks—according to the XRPL Dashboard. The bug-fix package reached this threshold.
- The lending system currently has 19 votes, falling 10 short of the required 29. Neither the lending feature nor the vault change, which has 21 votes, has started a countdown.
- Under the proposed plan, a lender deposits XRP into a vault for a broker to lend out. Borrowers do not post collateral, so the broker's judgment is the only protection against default for lenders.
- Separately, the patch closes a loophole that allowed accounts to create tokens under certain conditions. It also updates how vaults round amounts and how the lending code determines when a loan enters default.
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20 Articles
XRP News: Ripple's Lending Upgrade Is 10 Votes Short. What Happens to XRP if It Passes?
Ripple's XRP Ledger lending system is closing in on the validator votes it needs for approval, but the bigger question is whether passing this milestone would actually move the needle for XRP holders or mostly benefit Ripple itself.
·Lakewood, United States
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