- A security and maintenance amendment has already won 33 of 35 validator votes.
- The security fix addresses token permissions, AMMs, escrows, and vault operations.
- XRPL lending needs 10 more votes, and vaults need eight to reach the 29-vote threshold.
The XRP Ledger (XRPL) has a major network upgrade coming on November 4, but its proposed built-in lending system remains stalled due to a lack of validator support.
A security and maintenance amendment has already won 33 of 35 validator votes, but the lending protocol still needs 10 more before it can head toward activation. That gap shows XRPL’s technical upgrades are moving faster than its planned DeFi features.
The fixCleanup3_4_0 security update has backed approval from 33 of the 35 main network validators (about 94.3%). It is planned to go live on November 4 at around 14:46 UTC, as long as support holds at this required level.
The update makes several technical fixes covering token permissions, automated market makers (AMMs), escrow transactions, and vault operations. One key fix stops certain accounts with delegated token-burning permissions from using a loophole to mint unauthorized issued tokens. To avoid any confusion, that applies to issued assets and not to creating additional XRP.
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Native Lending Still Needs 10 More Votes
The proposed lending system relies on two key amendments: SingleAssetVault and LendingProtocol.
SingleAssetVault allows users to pool assets into vaults and receive tokenized shares in return, while LendingProtocol provides the infrastructure to issue and manage fixed-term loans.
Current XRPL voting figures show SingleAssetVault has 21 validators backing it, while LendingProtocol and its updated V1_1 version each have 19. With 29 votes needed, the lending proposals are 10 votes short, and the vault amendment needs eight more.
For an XRPL amendment to activate, it needs backing from over 80% of trusted validators for 14 days straight. So, even hitting that threshold wouldn’t make lending available right away.
Most DeFi lending platforms rely on collateral and automatic liquidations, but XRPL’s proposed model works differently, since it uses off-chain credit checks. Loan brokers would evaluate borrowers and could put up first-loss capital to cover early defaults, which opens the door to institutional lending, although it doesn’t eliminate credit risk.
As things stand now, the delay could push back when institutional credit applications become available on XRPL.
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