XRP Ledger Unveils Version 3.4.0 with Enhanced Lending Features

The XRP Ledger has released version 3.4.0, introducing significant changes to its lending protocol and various fixes for network operators.

The update includes LendingProtocolV1_1, which expands Single Asset Vaults through closed-ended vaults and cash-basis accounting. Closed-ended vaults allow users to deposit assets before an investment period begins, while pooled funds can be used to originate loans during this time. After the investment period ends, participants can recover their shares as eligible loans mature.

Cash-basis accounting recognizes interest as income only when borrowers make payments, rather than when loans are originated. This change is part of a broader effort to strengthen the network's infrastructure and expand its lending functionality.

The release also includes fixCleanup3_4_0, which addresses various issues involving vaults, automated market makers, Multi-Purpose Tokens, NFTs, escrow, and permissioned trading. Additionally, online deletion has been optimized to pause when recent ledger history contains gaps, allowing nodes to remain closer to the latest ledger while managing historical data.