- Ripple simplifies asset management on the XRP Ledger by updating the Vault and Lending Protocol.
- Meld Gold partners with Ripple to bring tokenized gold and silver assets to the XRP Ledger.
In a tweet, Ripple said, announced The Vault and Lending protocols have been significantly improved, paving the way for more efficient and user-friendly operations on the platform. These changes are part of a larger goal to improve asset management and lending operations on the XRP Ledger (XRPL) ecosystem benefits both developers and users.
New Vault & Lending Protocol updates #XRPL
▶️ XLS-65d – Single Asset Vault (SAV): We simplified the design and now allow Vault to hold assets directly, cutting out two unnecessary transactions for a more efficient experience.
▶️ XLS-66d – Financing Protocol: Updated to adjust…
— RippleX (@RippleXDev) September 30, 2024
Streamlined asset management and financing with the XRP Ledger
According to a statement, the XLS-65d Single Asset Vault (SAV) has been significantly redesigned and its structure has been reduced to increase overall efficiency. The revised design removes the two previously required transactions and allows Vault to store assets directly.
This update aims to make asset management faster and more cost-effective for users by eliminating unnecessary processes that previously hindered the process.
Meanwhile, the XLS-66d lending protocol has been revised to reflect these Vault changes. Previously, users had to go through a number of processes in exchange for depositing assets, but the revised protocol completely eliminates these extra steps.
This streamlined approach significantly reduces the burden on users and enables a more seamless lending experience within the XRPL ecosystem.
One of the main points mentioned by Ripple is its compliance-first strategy. Both the Vault and Lending Protocol improvements aim to simplify and unify Clawback and Freezing requirements.
These changes ensure that the protocol complies with industry regulations while making it easier for users to navigate the platform. By addressing these regulatory concerns head-on, Ripple hopes to increase trust in its ecosystem, especially among institutional users looking for compliant blockchain solutions.
In addition to Ripple’s recent improvements, the XRP Ledger is evolving through collaboration and innovation. According to previous CNF reportMeld Gold has partnered with Ripple to launch tokenized assets representing gold and silver on XRPL.
The initial objective is to introduce two stablecoins backed by these precious metals, which will increase the use cases for the XRP Ledger. This move is a major step forward in integrating real-world assets onto the blockchain, giving consumers a tangible connection to gold and silver while remaining within XRPL’s decentralized infrastructure.
On the other hand, as mentioned earlier, noticedXaman Wallet version 3.0 adds a revenue sharing model to help XRPL developers and improve the entire ecosystem.
The latest upgrade includes several important features, including a threshold-based paradigm, universal transaction signing, and improved accessibility for developers and users. These upgrades are intended to make the XRPL ecosystem more accessible and developer-friendly, fostering innovation and growth.
Meanwhile, at the time of writing, XRP is trading at $0.6014bottom 3.18% Over the past 24 hours. This fall, XRP’s market cap was back below $35 billion.
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