XRP Ledger lending amendment holds 22 of 35 validator votes, seven short of activation

Where the votes stand

The proposed lending system on the XRP Ledger has 22 of 35 trusted validators supporting it, according to a governance snapshot from the independent XRPL Dashboard taken on 12 November. The SingleAssetVault amendment that the lending design depends on has 23 supporting validators.

Amendment documentation requires more than 80% of trusted validators to hold support for two weeks before a proposal activates. On a set of 35 validators that threshold works out to 29 votes, leaving the lending proposals seven short and the vault amendment six short. Neither has entered the two-week countdown.

Progress since October

The counts have moved up. CoinDesk reported on 12 November that on 19 October the lending proposals had 19 supporting validators and the vault amendment had 21.

The dashboard lists LendingProtocol and LendingProtocolV1_1 separately, and the snapshot records both at 22 supporting votes. The two amendments and the vault proposal are counted against the same 35-validator set.

Validator support is not fixed until activation is complete. Counts can rise or fall, and a proposal only starts its countdown once it passes the threshold.

What is still missing

Lending has not activated on the XRP Ledger, and no date for a launch has been set. The gap between 22 votes and a working credit market on the network remains, and the dashboard figures measure validator support rather than usage, liquidity or the terms on which borrowers and lenders would meet.

The next signal is the validator count itself. Seven more votes are needed on the lending proposals before the two-week clock can begin.