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XRP Ledger Prepares Major Upgrade with Lending Protocol v1.1

Guavy AI Editorial Team
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XRP RPL
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The XRP Ledger is set to receive a major software upgrade with the upcoming release of XRPL 3.4.0, which will include the Lending Protocol v1.1.

This update aims to bolster the network's Decentralized Finance (DeFi) capabilities and enhance various aspects of the existing Lending Protocol v1.0.

The current Lending Protocol amendment is currently open for voting, with 31.43% of tokens cast in favor of the change, which allows for uncollateralized lending on the blockchain in fixed terms using pooled funds from a Single Asset Vault.

XRPL validator Vet has pointed out that the new version will improve 'important aspects' of Lending Protocol v1.0 and is in line with the ongoing validator voting process.

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