The XRP Ledger is on a path to another major software upgrade as the network looks forward to an upcoming release of its Lending Protocol: XRPL 3.4.0. To further bolster the network’s Decentralized Finance (DeFi) capabilities, Lending Protocol v1.1 will be included in the upcoming release, marking another significant addition to the XRPL ecosystem.
XRP Ledger Lending Amendment Nears Launch
XRPL dUNL validator Vet also has pointed out the upgrade, stating that the new version will enhance “important aspects” of Lending Protocol v1.0. This is in line with the ongoing validator voting process for the current Lending Protocol amendment.This is as the current Lending Protocol amendment proceeds through the Validator voting process.
According to the XRP Ledger amendment tracker, the Lending Protocol amendment is currently open for voting with 31.43% of the tokens cast. The change aims to allow for uncollateralized lending on the blockchain in fixed terms, with pooled funds from a Single Asset Vault.
The system leverages off-chain underwriting and risk management to assess borrowers and support customisable p-to-p loans. It comes under the XLS-66 specification.
The other LendingProtocolV1_1 contract is in “In Development” status. The revision adds enhancements and fixes to the original protocol such as MemoData field added to VaultDelete transaction.
The XRP Ledger Lending protocol will receive v1.1 update in XRPL 3.4.0 next week.
It improves on important aspects of Lending v1.0 and has to come together with v1.1 .
Join us for this X space with Ayo, Jazzi, Vito and Denis!
Lending and single asset vault will see regular… https://t.co/SE4XsZhpF7
— Vet (@Vet_X0) September 10, 2026
Hence, it is a significant release for developers following the XRP Ledger lending ecosystem. But, the current voting percentage doesn’t guarantee activation unless 80% consensus is reached.
The Ripple-backed XRP Ledger Lending Protocol and Single Asset Vault will keep on upgrading, Vet said. Moreover, he described these amendments as a “dynamic feature protocol that gains functionalities over time.”
XRPL 3.4.0 Advances Through Beta
After the XRPL v3.3.0 release, the iconic XRP Ledger 3.4.0 development cycle has already made it to a first-beta milestone. For context, XRPLF has made develop branch 3.4.0-b1 on August 24, following merging of PR #8102.
The bump itself was a version of the software from 3.4.0-b0 to 3.4.0-b1. It did not create a new transaction type, amendment definition, RPC method or ledger rule.
This is noteworthy since 3.4.0-b1 is not a stable public release or proof of a Mainnet activation.
Meanwhile, XRPL Operations is hosting an X Space focused on the Lending Protocol on September 11 at 1 p.m. EST. XRPL Foundation CTO Angell Denis, RippleX executives Ayo Akinyele and Jazzi Cooper, and RippleX engineer Vito Tumas are among the scheduled participants.
With the XRP Ledger Lending Protocol’s transition to next phase of development, the discussion will cover why it matters, what’s new and what it unlocks.
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