The XRP Ledger Foundation released xrpld 3.4.0 on September 16 with LendingProtocolV1_1 code introducing fixed-term vaults and cash-basis accounting. Depositors can lock their assets for a period ranging from 60 seconds to under 30 years, with withdrawal access blocked during the investment phase. Interest is recognized only when borrowers actually pay, addressing issues with earlier whole-life accounting that recognized income before cash arrived. The amendment needs 28 of 35 trusted-validator votes to activate; a September 17 snapshot showed LendingProtocol at 13 votes and SingleAssetVault at 16 votes. Whether the protocol creates lasting XRP demand depends on applications selecting XRP as the asset and borrowers creating recurring demand for XRP-denominated credit.
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