XRPL Lends to the Gap: Native Lending and Doppler Finance's $130M Milestone

The XRP Ledger is on the cusp of introducing native lending capabilities, which could revolutionize its decentralized finance (DeFi) ecosystem. This move comes as Doppler Finance, the largest DeFi app on XRPL, has surpassed $130 million in deposits.

However, despite this progress, XRPL's DeFi sector still lags behind Solana's massive $6.7 billion in deposits, a whopping 37 times larger than XRPL's total. The main difference lies in the way these platforms approach lending: Solana's decentralized apps can launch new products without needing network-wide votes, whereas XRPL implements core features through amendments that require validator approval.

Ripple's proposed upgrade, dubbed Lending Protocol V1.1, would embed loan rules directly into the ledger's base code. This would allow all wallets and applications to use a built-in lending feature without developing individual contracts, a significant advantage over Solana's approach.