In an interaction on X, RippleX software engineer Mayukha Vadari offers fresh context on why the much-awaited $XRP lending protocol seems to be experiencing a delay.
The XRPL Lending Protocol is built on two complementary components: the Single Asset Vault and the lending protocol, which are defined in XLS-65 and XLS-66, respectively, and remain subject to validator approval.
In an X discussion that touched on onchain finance on the $XRP Ledger, Grape, an XRPL validator, pointed out slow progress on the XLS-65 and XLS-66 amendments, which he said “still seem to be on the naughty list with the dUNLs.” “Votes still have not budged in a very long time,” he added.
There are some fixes many of them are waiting on in fixCleanup3_2_0. Safety comes first 💪
— Mayukha Vadari (@msvadari) June 30, 2026
XLS-65, the “SingleAssetVault” amendment, creates a structure for aggregating assets from multiple depositors and is intended to be used with the on-chain Lending Protocol.
XLS-66, the “Lending Protocol” amendment, enables on-chain, fixed-term, uncollateralized loans using pooled funds from a Single Asset Vault. This implementation relies on off-chain underwriting and risk management to assess the creditworthiness of borrowers but offers configurable, peer-to-peer loans.
The Lending Protocol amendment has only reached a consensus of 20%, with 60% still needed to reach a majority. Meanwhile, the “SingleAssetVault” amendment attracted 22.86% of votes, still far from the required 80% threshold.
This discussion follows the $XRP Ledger Foundation’s announcement of a collaboration with vs1 to build an open-source reference app for permissioned, compliant lending on the $XRP Ledger. The app leverages native primitives: Credentials, Permissioned Domains, Single Asset Vaults, and the Lending Protocol.
‘Fixes underway,’ Ripple engineer says
Ripple engineer Mayukha Vadari hints at a likely reason why voting seems to have stalled on the XLS-65 and XLS-66 amendments. Vadari noted several fixes for both amendments in the upcoming “fixCleanup3_2_0” upgrade, highlighting safety as a priority.
“There are some fixes many of them are waiting on in fixCleanup3_2_0. Safety comes first,” Vadari responded.
The fixCleanup3_2_0 amendment, introduced in XRPL version 3.2.0, bundles bug fixes affecting Single Asset Vaults, the Lending Protocol, the permissioned DEX, Multi-Purpose Tokens, and permissioned domains.
