7 votes to go—can XRP Ledger lending go live?
There are 22 votes in favor now. Activation requires 29 votes, and the threshold must be met for two consecutive weeks. Since mid-October, 3 more validators have voiced their support.
SingleAssetVault, which creates the lending pool, has 23 votes. LendingProtocol and the first amendment each have 22. My take: ordinary users shouldn’t rush to deposit just yet.
Once it goes live, depositors will put XRP or other tokens into vaults, and loan brokers will lend them out for fixed terms. Borrowers won’t need collateral; off-chain underwriting and risk controls will serve as safeguards. No collateral doesn’t mean no risk.
Would you wait until 29 votes are reached for two consecutive weeks, or start learning now about how vaults and off-chain risk controls work? $XRP
There are 22 votes in favor now. Activation requires 29 votes, and the threshold must be met for two consecutive weeks. Since mid-October, 3 more validators have voiced their support.
SingleAssetVault, which creates the lending pool, has 23 votes. LendingProtocol and the first amendment each have 22. My take: ordinary users shouldn’t rush to deposit just yet.
Once it goes live, depositors will put XRP or other tokens into vaults, and loan brokers will lend them out for fixed terms. Borrowers won’t need collateral; off-chain underwriting and risk controls will serve as safeguards. No collateral doesn’t mean no risk.
Would you wait until 29 votes are reached for two consecutive weeks, or start learning now about how vaults and off-chain risk controls work? $XRP
