RippleX Ships xrpld v3.4.0 With New Lending Protocol Amendments
The RippleX team has released xrpld version 3.4.0 for the XRP Ledger, introducing two key amendments to its native lending features.
LendingProtocolV1_1 extends the existing LendingProtocol and SingleAssetVault amendments by adding closed-ended vaults with three phases: subscription, investment, and redemption. This structure determines when assets can be deposited, loans originated, and assets redeemed. Once enabled, new loan brokers can only be created against these closed-ended vaults.
The release also shifts vault accounting to a cash basis, recognizing interest as income only when payments are made, rather than at the moment a loan is originated. This change reduces lending and accounting risks by preventing protocols from overstating earnings before cash arrives.