News about lending protocols

XRP Ledger developers are patching the new lending protocol before launch with a follow-up amendment, LendingProtocolV1_1, to fix the original LendingProtocol while it remains in the network's voting queue. The protocol enables on-chain, fixed-term, uncollateralized loans from pooled funds, relying on off-chain underwriting and "first-loss capital" to absorb defaults. The move follows a near-miss, in which a payment-engine bug that could have let an attacker mint counterfeit XRP sat dormant for years before being flagged and fixed. Amendments must earn support from at least 80% of trusted validators over a two-week period before activating.