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XRP Ledger Sets New Standard for Lending Giant; Here’s What to Know
The post XRP Ledger Sets New Standard for Lending Giant; Here’s What to Know appeared on BitcoinEthereumNews.com. Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. RippleX developers have unveiled a game-changing proposal that intends to introduce a native lending protocol, codenamed XLS-66d. The new proposal lays the groundwork for deploying a groundbreaking lending protocol directly on XRP Ledger, which is intended to revolutionize how lending takes place on the blockchain. XLS-66d lays the foundation for a robust, decentralized lending protocol native to the #XRPLedger. Highlights include:✅ Simplicity & direct lending✅ Protocol-native approach✅ Modular & flexible design Learn more: https://t.co/UKkcX23Usu — RippleX (@RippleXDev) May 1, 2024 The proposal establishes mechanisms for fixed-term, interest-accruing loans pooled from collective funds that do not require on-chain collateral. This strategy secures the protocol using off-chain underwriting and risk management, as well as a First-Loss Capital protection plan. At its core, the protocol will allow for easy lending, with terms agreed upon directly by the borrower and the lending pool’s delegated manager. Unlike traditional lending protocols in DeFi, which are smart contracts that run on a virtual machine, the XRPL’s Lending Protocol will be integrated directly into the ledger’s consensus layer and protocol. The lending protocol would allow liquidity providers to contribute XRP or other fungible tokens into a lending pool managed by a pool delegate, earning interest. With an eye toward future development, the protocol will be designed to be both upgradeable and adaptable, allowing for a…
The post XRP Ledger Sets New Standard for Lending Giant; Here’s What to Know appeared on BitcoinEthereumNews.com.
Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. RippleX developers have unveiled a game-changing proposal that intends to introduce a native lending protocol, codenamed XLS-66d. The new proposal lays the groundwork for deploying a groundbreaking lending protocol directly on XRP Ledger, which is intended to revolutionize how lending takes place on the blockchain. XLS-66d lays the foundation for a robust, decentralized lending protocol native to the #XRPLedger. Highlights include:✅ Simplicity & direct lending✅ Protocol-native approach✅ Modular & flexible design Learn more: https://t.co/UKkcX23Usu — RippleX (@RippleXDev) May 1, 2024 The proposal establishes mechanisms for fixed-term, interest-accruing loans pooled from collective funds that do not require on-chain collateral. This strategy secures the protocol using off-chain underwriting and risk management, as well as a First-Loss Capital protection plan. At its core, the protocol will allow for easy lending, with terms agreed upon directly by the borrower and the lending pool’s delegated manager. Unlike traditional lending protocols in DeFi, which are smart contracts that run on a virtual machine, the XRPL’s Lending Protocol will be integrated directly into the ledger’s consensus layer and protocol. The lending protocol would allow liquidity providers to contribute XRP or other fungible tokens into a lending pool managed by a pool delegate, earning interest. With an eye toward future development, the protocol will be designed to be both upgradeable and adaptable, allowing for a…
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