Ripple X Dev has just released the proposal for the Native Lending Protocol on the XRP Ledger, marking an exciting development for the XRPL. The proposal, created by Aanchal Malhotre and Vito Tumas, aims to enhance the platform’s DeFi capabilities and promote financial inclusivity and transparency within the Ripple ecosystem.
The XRP Ledger Native Lending Protocol allows users to lend and borrow digital assets directly on the XRP Ledger, eliminating the need for intermediaries and empowering users with more control over their finances. The protocol’s modular design ensures flexibility and reusability, accommodating various use cases within the ecosystem.
The proposal introduces three key specifications: XLS-64d for pseudo-Accounts, XLS-65d for a Single Asset Tokenized Pool, and XLS-66d for a native XRP Ledger Lending Protocol. These specifications enable efficient balance tracking, enhance liquidity management, and facilitate asset management and loan agreements.
In addition to these specifications, the Native Lending Protocol offers features such as interest-earning deposits in Lending Pools, management of pools by delegates, off-chain negotiation of loan terms, and fixed-term loans with innovative risk management mechanisms. These features aim to optimize user experience and ensure transparent and efficient financial services.
The proposal has received positive feedback from Ripple’s Chief Technology Officer, Joel Katz. He expressed enthusiasm for the protocol’s potential utility and its role in enabling accessible, efficient, and transparent financial services on the XRPL.
Overall, the Native Lending Protocol proposal represents a significant milestone in revolutionizing the XRPL and creating new financial opportunities. With support from Ripple’s leadership and the developer community, this initiative has the potential to transform the Ripple ecosystem and boost the adoption of the XRP token.