Crypto
XRP Ledger Brings Native Lending to the Table, But Can It Close the Gap with Solana?
The XRP Ledger is on the verge of introducing native lending capabilities, which could give it a boost in the decentralized finance (DeFi) space.
The upgrade, known as Lending Protocol V1.1, is currently being voted on by XRPL validators and is expected to increase the lending capacity on the ledger significantly.
However, the XRP Ledger still lags behind Solana in terms of DeFi deposits, with Solana's DeFi applications holding around $6.7 billion, compared to $181 million for XRPL.
The leading DeFi application on the XRP Ledger, Doppler Finance, currently holds around $136 million in deposits, which is three times the combined total of all other XRPL DeFi applications.