XRP Ledger developers have published technical documentation describing the LendingProtocolV1_1 amendment, which introduces closed-ended vaults with defined subscription and redemption dates. The proposal adds a VaultKind parameter in the VaultCreate transaction: open-ended vault remains the default, while a second parameter identifies a closed-ended vault with dates controlling when subscriptions close and when redemption begins. These features address institutional lending products that need predictable investment periods and maturity schedules. This is a technical proposal describing vault mechanics, not a live lending product launch; validators and developers are currently evaluating whether the amendment aligns with the rest of the network.
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