Why XRP Ledger's Lending Protocol Is Still Waiting: A Ripple Engineer Breaks It Down

The XRP community has been keeping a close eye on two critical amendments to the XRP Ledger — XLS-65 and XLS-66 — which together form the backbone of what could become a transformative on-chain lending ecosystem. However, validator support for these upgrades has remained frustratingly stagnant, prompting questions about what is causing the holdup.

RippleX software engineer Mayukha Vadari stepped into the conversation on X on June 30, 2026, shedding light on why the anticipated lending infrastructure has yet to gain enough traction among validators. Her message was concise but telling: fixes are in the pipeline, and safety is the team's top priority before moving forward.

"There are some fixes many of them are waiting on in fixCleanup3_2_0. Safety comes first," Vadari wrote in response to concerns raised by Grape, an XRPL validator who noted that votes on XLS-65 and XLS-66 had not moved in a considerable amount of time. Grape described both amendments as still sitting on the "naughty list" with the dUNLs, indicating that a meaningful portion of validators have withheld their support.

To understand the significance of these amendments, it helps to know what each one does. XLS-65, known as the SingleAssetVault amendment, introduces a framework that allows assets from multiple depositors to be pooled together into a single vault structure. This component is designed to work in tandem with the on-chain Lending Protocol. XLS-66, the Lending Protocol amendment itself, enables fixed-term, uncollateralized loans drawn from those pooled funds. The system relies on off-chain underwriting and credit assessment mechanisms, while still offering configurable, peer-to-peer loan arrangements.

As of the latest available data, the Lending Protocol amendment has achieved only 20% consensus among validators, well short of the 60% majority required to move forward. The SingleAssetVault amendment fares slightly better at 22.86%, but remains far below the 80% threshold needed for full adoption.

Vadari's comments point to the upcoming fixCleanup3_2_0 upgrade, introduced alongside XRPL version 3.2.0, as a key piece of the puzzle. This amendment bundles a series of bug fixes affecting not only the Single Asset Vaults and Lending Protocol, but also the permissioned DEX, Multi-Purpose Tokens, and permissioned domains. Many validators appear to be waiting for these fixes to be finalized and deployed before committing their votes.

This development comes shortly after the XRP Ledger Foundation announced a collaboration with vs1 aimed at building an open-source reference application for permissioned, compliant lending on the XRPL. The planned app is set to leverage native XRPL primitives, including Credentials, Permissioned Domains, Single Asset Vaults, and the Lending Protocol — making the successful passage of XLS-65 and XLS-66 all the more consequential for the broader ecosystem.

While the delay may frustrate those eager to see on-chain finance capabilities expand on the XRP Ledger, Vadari's explanation offers reassurance that the slower pace is deliberate. The engineering team appears committed to ensuring that foundational infrastructure is rock-solid before asking the validator community to greenlight it. For a protocol handling pooled assets and uncollateralized lending, that cautious approach may ultimately prove to be the right call.