XRP Ledger Prepares for Major v3.4.0 Upgrade with Enhanced Lending Protocol
- The upcoming XRPL version, 3.4.0, will include the Lending Protocol v1.1, enhancing the network’s DeFi capabilities.
- Currently, 31.43% of tokens have voted on the Lending Protocol amendment, which requires an 80% consensus for activation.
- The protocol aims to facilitate uncollateralized lending through a Single Asset Vault using off-chain underwriting and risk management.
- A beta version, 3.4.0-b1, was released recently, although it is not a stable public release.
- An X Space event discussing the Lending Protocol is scheduled for September 11, featuring key RippleX executives.
The XRP Ledger’s transition to version 3.4.0 signifies a pivotal moment in its development, particularly with enhancements to its lending capabilities aimed at improving user experience and functionality in decentralized finance.
With only 31.43% of votes cast so far, reaching the required consensus remains crucial for activating the new Lending Protocol features.(Source)
