- Ripple simplifies asset management on the XRP ledger with updates to the Vault and Lending protocols.
- Meld Gold is partnering with Ripple to launch tokenized gold and silver assets on the XRP ledger.
In a tweet, Ripple has significant improvements to its Vault and Lending protocols announcedpaving 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 in the XRP Ledger (XRPL) system, benefiting both developers and users.
New Vault & Lending Protocol updates on the #XRPL
▶️ XLS-65d – Single Asset Vault (SAV): We’ve simplified the design so the Vault now holds assets directly, cutting out two unnecessary transactions for a more efficient experience.
▶️ XLS-66d – Lending Protocol: Updated to align…
— RippleX (@RippleXDev) September 30, 2024
Streamlined asset management and lending on the XRP ledger
According to the statement, the XLS-65d Single Asset Vault (SAV) has been significantly redesigned and its structure reduced to increase overall efficiency. The revised design eliminates two previously required transactions, allowing the vault to store assets directly.
This update is intended to make wealth management faster and more cost-effective for users by eliminating unnecessary processes that previously hindered the process.
In the meantime, the XLS-66d lending protocol has been revised to reflect these changes to the Vault. Previously, users had to go through many processes to deposit and redeem assets, but the revised protocol completely eliminates these additional steps.
This streamlined approach minimizes friction for users, resulting in a more seamless lending experience within the XRPL system.
One of the key points Ripple mentioned is its strategy of prioritizing compliance. Both the Vault and Lending protocol improvements aim to simplify and integrate clawback and freezing requirements.
These changes ensure that the protocol complies with industry regulations while making it easier for users to use the platform. By directly addressing these regulatory concerns, Ripple hopes to increase trust in its ecosystem, particularly among institutional users seeking a compliant blockchain solution.
In addition to Ripple’s recent improvements, the XRP Ledger continues to evolve through collaboration and innovation. According to a previous CNF report, Meld Gold has partnered with Ripple to launch tokenized assets representing gold and silver on XRPL.
The initial goal is to introduce two stablecoins backed by these precious metals, which will expand the use cases of 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 the XRPL’s decentralized infrastructure.
On the other hand, as mentioned earlier, Xaman Wallet version 3.0 introduced a revenue sharing model to support XRPL developers and improve the entire ecosystem.
The latest upgrade includes several key features, including a threshold-based paradigm, universal transaction signing, and improved accessibility for developers and users. These upgrades aim to make the XRPL ecosystem more accessible and developer-friendly, encouraging innovation and growth.
At the time of writing, XRP is trading at $0.6014, down 3.18% in the last 24 hours. This decline has brought XRP’s market cap back below $35 billion.
