Key facts
- Ripple has voted in favor of the fixCleanup amendment for the XRP Ledger.
- The amendment bundles fixes for Single Asset Vaults, the Lending Protocol, and other components.
- This vote advances the XRP Ledger v3.3.0 upgrade, targeting improved stability and performance.
- The upgrade aims to enhance readiness for institutional and tokenization use cases.
- 8 out of 35 UNL validators currently support the fixCleanup proposal.
Ripple has cast its vote in favor of the fixCleanup amendment, a crucial step toward the activation of XRP Ledger version 3.3.0. This amendment consolidates various bug fixes and protocol cleanups, specifically targeting components such as Single Asset Vaults, the Lending Protocol, Automated Market Makers, the permissioned DEX, Checks, and pseudo-accounts.
The move is expected to enhance the stability and performance of the XRP Ledger, preparing it for increased adoption in institutional and tokenization applications. While 8 out of 35 validators currently support the proposal, it requires an 80% threshold (28 out of 35 votes) for two consecutive weeks to be activated on the mainnet.
This upgrade follows Ripple's recent support for Single Asset Vault and Lending Protocol amendments, which introduce XRP or RLUSD vaults and credit infrastructure to bolster DeFi and tokenization capabilities. Node operators are advised to upgrade to the XRP Ledger 3.3.0 release to avoid potential blocking once the upgrade is activated.
In addition to the fixCleanup amendment, five other proposals are currently in the voting stage: Confidential Transfer, BatchV1_1, DynamicMPT, PermissionDelegationV1_1, and Sponsor. Developers have also highlighted non-feature improvements, including a 10-15% reduction in memory usage and enhanced node performance.
Amidst these developments, the XRP price has seen a nearly 3% increase in the past 24 hours, trading at $1.02. Trading volume has also risen by 16%. Despite a fall in CPI inflation, derivatives markets show significant selling activity, with XRP futures open interest experiencing a slight decline.