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XRP Users to Earn Directly on XRPL as Ripple Looks to Launch Native Lending Protocol
The post XRP Users to Earn Directly on XRPL as Ripple Looks to Launch Native Lending Protocol appeared on BitcoinEthereumNews.com. More avenues for XRP holders to earn on the XRP Ledger (XRPL) are emerging as Ripple recently proposed a native Lending Protocol. On Friday, Aanchal Malhotra, the Head of Research at RippleX, and Ripple’s software engineer Vytautas Vito Tumas jointly proposed an XRPL-native lending protocol under the “XLS – 66d” specification. 1/ Today, devs @aanchalmalhotre and Vito Tumas introduced a proposal for a Native Lending Protocol on the XRP Ledger that would further expand its DeFi capabilities. Let’s break down what this means for the ecosystem ???? — RippleX (@RippleXDev) April 12, 2024 This announcement comes four weeks after The Crypto Basic first disclosed that efforts are underway to introduce an XRPL native lending protocol. Notably, the unveiled proposal seeks to expand the XRPL’s DeFi capabilities, offering users more earning opportunities. It will enable peer-to-peer borrowing and lending of crypto assets without intermediaries. Moreover, this protocol will offer fixed-term loans with pooled funds and pre-set interest rates. While bypassing the need for collateral, it relies on off-chain underwriting and risk management. Notably, liquidity providers deposit XRP or other tokens into a lending pool to earn interest, while borrowers negotiate loan terms with a pool delegate who manages the lending pool. The protocol supports multiple-lender-single-borrower lending pools for fixed-term loans. – Advertisement – Specifications of the XRPL Lending Protocol RippleX developers emphasize flexibility and reusability in the design of this proposed XRPL native Lending Protocol. First, they pointed out that flexibility is ensured by designing the protocol to be upgradeable. Also, reusability is attainable by introducing usable objects across multiple future protocols. The RippleX developers introduced three specifications for the proposed lending protocol to cater to these features: XLS-64d, XLS-65d, and XLS-66d Firstly, the XLS-64d specification enables the association of a single pseudo-account with multiple ledger entries, allowing for tracking balances…
The post XRP Users to Earn Directly on XRPL as Ripple Looks to Launch Native Lending Protocol appeared on BitcoinEthereumNews.com.
More avenues for XRP holders to earn on the XRP Ledger (XRPL) are emerging as Ripple recently proposed a native Lending Protocol. On Friday, Aanchal Malhotra, the Head of Research at RippleX, and Ripple’s software engineer Vytautas Vito Tumas jointly proposed an XRPL-native lending protocol under the “XLS – 66d” specification. 1/ Today, devs @aanchalmalhotre and Vito Tumas introduced a proposal for a Native Lending Protocol on the XRP Ledger that would further expand its DeFi capabilities. Let’s break down what this means for the ecosystem ???? — RippleX (@RippleXDev) April 12, 2024 This announcement comes four weeks after The Crypto Basic first disclosed that efforts are underway to introduce an XRPL native lending protocol. Notably, the unveiled proposal seeks to expand the XRPL’s DeFi capabilities, offering users more earning opportunities. It will enable peer-to-peer borrowing and lending of crypto assets without intermediaries. Moreover, this protocol will offer fixed-term loans with pooled funds and pre-set interest rates. While bypassing the need for collateral, it relies on off-chain underwriting and risk management. Notably, liquidity providers deposit XRP or other tokens into a lending pool to earn interest, while borrowers negotiate loan terms with a pool delegate who manages the lending pool. The protocol supports multiple-lender-single-borrower lending pools for fixed-term loans. – Advertisement – Specifications of the XRPL Lending Protocol RippleX developers emphasize flexibility and reusability in the design of this proposed XRPL native Lending Protocol. First, they pointed out that flexibility is ensured by designing the protocol to be upgradeable. Also, reusability is attainable by introducing usable objects across multiple future protocols. The RippleX developers introduced three specifications for the proposed lending protocol to cater to these features: XLS-64d, XLS-65d, and XLS-66d Firstly, the XLS-64d specification enables the association of a single pseudo-account with multiple ledger entries, allowing for tracking balances…
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