What to know:
- XRP Ledger’s May 27 update will target NFT, vault, lending, and domain bugs.
- The amendment fixes NFT offer cleanup, vault limits, and lending records.
- Validators must upgrade before activation to avoid losing network sync.
The XRP Ledger is gearing up to enable the fixCleanup3_1_3 amendment on May 27. The update includes bug fixes in NFTs, vaults, lending, and permissioned domains. Validators need to upgrade before activation on Wednesday; otherwise, they will fall out of sync with the network afterwards.
The amendment will be included in the rippled version 3.1.3. That version was released on May 8. On May 14, the XRP Ledger Foundation announced the upgrade, which was created in collaboration with the RippleX team.
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XRP Ledger Amendment Improves NFT Offer Cleanup
The update has a cleanup fix for NFT offers. Users can create and trade NFTs on the XRP Ledger. Such assets can range from digital collectibles and gaming items to other tokenized content.
An offer is generated in the network when a user sets an NFT for sale. Some offers may expire or not be used. The new fix will clear out expired offers of NFTs rather than leaving them on the ledger.
Permissioned Domains are also dealt with by the amendment. These are restricted zones that allow certain accounts to enter and use certain assets, services, or order books. These also enable making alterations to special settings based on specific rules.
Those limited settings were hit by a bug. If the transaction fails, domain settings may be changed anyway in some instances. The patch ensures that such changes are not made when transactions fail.
XRP Ledger Amendment Targets Vault and Lending Bugs
Another area of the update is vault withdrawals. Vaults are a safe way to store tokens on the XRP Ledger. The receiving account might have a trust line limit when tokens are removed from a vault.
That limit controls how many tokens the account can accept. The bug caused withdrawals to be performed without an appropriate check of the limit. The amendment will make the limit mandatory when withdrawals are made in the vault.
Fixes will also be made to the lending system. The XRP Ledger makes it possible to use decentralized lending features. These platforms enable users to borrow and lend digital assets without the involvement of a traditional bank.
There are a number of records that need to change when a loan defaults or impairs. These are the loan record, the lender record, and the collateral vault record. Some balances may not be up to date in the current issue.
Lending Records Get Key Fix in XRP Ledger Update
The fix aims to sync all related entries when the loan status changes. This should help to maintain lending records. It is also helpful in reducing the chances of having outdated balances on the ledger.
It also clarifies how repayment errors are handled. Now when a user attempts to pay over the allowed maximum on a loan that does not support overpayment, the system shall respond in clear terms. Instead of returning a general invalid flag error, it will return tecNO_PERMISSION.
The modification is designed to make it easier to understand failed repayment attempts. It provides more accurate grounds for the application’s refusal. It also allows the user to understand the reason that the transaction has not passed.
The amendment will come into effect on Wednesday. The node operators and validators are required to update their servers before that time. If an operator does not upgrade, then they may be amendment-blocked and not sync with the network.
A large portion of the network has reportedly already updated. The other operators are yet to migrate to the supported version. The activation will make the following fixes effective on the XRP Ledger.
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