XRP Ledger Releases Version 3.4.0 With Lending Protocol V1.1 Upgrades
The XRP Ledger has released version 3.4.0, which includes upgrades to the Lending Protocol V1.1 and several other features.
LendingProtocolV1_1 is an amendment that modifies Single Asset Vaults and the upcoming Lending Protocol. It incorporates closed-ended vaults with subscription, investment, and redemption windows. Each window defines when funds can enter, support loans, or return to depositors.
According to Ripple documentation, in the subscription phase, depositors can make deposits and withdrawals, but these actions cease once the investment window starts, with assets in the vault lending out. The redemption window follows the end of the investment window, allowing depositors to withdraw their stakes.
The update also includes a new way for newly formed loan brokers to associate with vaults. Once activated, new brokers can only be associated with closed-ended vaults. Existing lending broker-vault association pairs are handled separately to manage existing positions.
XRP Ledger version 3.4.0 is now available, and it includes two amendment packages. However, both proposals do not activate on the mainnet through installation alone.