Key facts
- The XRP Ledger may soon feature its first native lending application, SOIL.
- SOIL plans to utilize the proposed XLS-65 and XLS-66 amendments for its operations.
- XLS-65 (SingleAssetVault) and XLS-66 are designed to introduce on-chain lending and yield products to the XRP Ledger.
- XLS-66 outlines a model for fixed-term, uncollateralized loans with pooled liquidity.
- XLS-65 focuses on consolidating user deposits into a common vault to provide liquidity.
- A demonstration showed users receiving MBT tokens representing their stake in single-asset vaults.
The XRP Ledger is on the verge of launching its first native lending application, SOIL, which is poised to leverage the proposed XLS-65 and XLS-66 amendments. These upgrades are designed to establish core infrastructure for on-chain lending and yield-generating products directly on the XRP Ledger.
XLS-66 provides a framework for fixed-term, uncollateralized loans utilizing pooled liquidity. Concurrently, XLS-65, known as SingleAssetVault, aims to aggregate deposits from various participants into a unified vault, thereby supplying liquidity to lending markets. The development follows the recent launch of the XRP Ledger's v3.2.0 mainnet upgrade.