XRP Ledger patches lending protocol with follow-up amendment before launch

The XRP Ledger’s native lending feature hasn’t launched yet. It is already getting a patch. Developers have published a second amendment to fix the ledger’s new uncollateralized lending system. The original version is still waiting for validators to approve it. What the new amendment changes The fix is called LendingProtocolV1_1. It arrived with xrpld version 3.4.0, which went out between September 16-17, 2026. The release also bundled a separate package called fixCleanup3_4_0. LendingProtocolV1_1 makes two structural changes to how lending on the ledger works. The first introduces closed-ended vaults for fixed-term loans. Under the update, these vaults move through three distinct phases: subscription, investment and redemption. Lenders commit capital during the subscription window. That money is then deployed into loans during the investment phase, and returned during redemption. The second change is about accounting. Vaults will now operate on a cash basis. Under the revised rules, interest only counts once a borrower actually pays it. It is no longer booked the moment a loan is originated. A crowded queue at the validator gate The update refines two core amendments still pending...