XRPL validators open vote on LendingProtocolV1_1 amendment
The XRP Ledger opened validator voting on the LendingProtocolV1_1 amendment. The proposal introduces closed-ended lending vaults and shifts interest recognition to cash-basis accounting: interest is recognized when borrowers pay rather than at loan origination. This vote does not activate lending on mainnet. The amendment requires more than 80% validator support maintained for two weeks, and two additional amendments, LendingProtocol and SingleAssetVault, must also pass.
LendingProtocolV1_1 is open for validator voting.
It introduces closed-ended vaults and cash-basis accounting for XRPL lending, and it must activate before LendingProtocol and SingleAssetVault can proceed.
Validators, read what changes and why it matters as you evaluate the…
— RippleX (@RippleXDev) September 30, 2026
What LendingProtocolV1_1 Changes
LendingProtocolV1_1 extends LendingProtocol and SingleAssetVault. It replaces open-ended vaults with closed-ended vaults that operate in three stages: subscription, investment, and redemption. After the subscription window closes, no new shares are issued during investment or redemption, fixing vault membership before the lending period starts.
The amendment introduces cash-basis accounting: AssetsTotal reflects received interest rather than accrued interest. Loan mechanics remain unchanged. The full lending stack requires three amendments: LendingProtocol as the engine, SingleAssetVault for asset pooling, and LendingProtocolV1_1 for vault structure and accounting.
The protocol targets fixed-term, uncollateralized loans with off-chain underwriting. Brokers supply first-loss capital to cover part of defaults. Credit risk persists. If broker cover falls below the minimum, brokers cannot issue loans or collect fees.
Validator Voting and Launch Conditions
An amendment activates only if more than 80% of trusted validators support it for two weeks. If support drops below the threshold, the timer resets. Validators review status at each flag ledger, typically about 15 minutes apart, and the network tallies a majority every 256th ledger.
Current support levels for LendingProtocolV1_1 were not provided. The open vote indicates the amendment is at the validator-voting stage without confirming proximity to activation. No activation date has been set.
The rollout path requires: LendingProtocolV1_1 maintains the threshold for two weeks, then LendingProtocol and SingleAssetVault gain approval. Any failure or reset delays completion. The materials do not indicate expected usage of the lending protocol.
Validators running older xrpld versions without the amendment code risk becoming amendment blocked. A blocked server cannot validate ledgers, process transactions, join consensus, or vote on future amendments until updated.
Milestones and Market Context
XRPUSDT Chart 4H TradingView
Key milestones: maintain more than 80% validator support for two weeks for LendingProtocolV1_1, then pass LendingProtocol and SingleAssetVault. These conditions enable the lending stack. They do not imply adoption or activity levels.
Design implications: closed-ended vaults define lending timetables; cash-basis accounting aligns reported income with received interest. Both require all three amendments to activate.
Market status: XRP trades at $1.4870, down 0.21% on the day. The token recovered from an August low near $1.00 and currently trades in a $1.26 to $1.65 range. The governance vote has not triggered a breakout. The $1.2611 level is a key support. A daily close above $1.65 would indicate the market is pricing in the lending stack.
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