Key facts
- The XRP Ledger is nearing the launch of its first native lending application.
- The lending application is named SOIL.
- SOIL will utilize proposed amendments XLS-65 and XLS-66.
- These upgrades aim to introduce on-chain lending to the XRP Ledger.
- The upgrades will also introduce yield products to the XRP Ledger.
- Pooled liquidity will be introduced directly to the XRP Ledger.
- XLS-65 focuses on introducing a lending protocol.
- XLS-66 establishes a framework for pooled liquidity.
The XRP Ledger is poised to introduce its first native lending application, named SOIL, following the implementation of proposed amendments XLS-65 and XLS-66. These upgrades are specifically engineered to enable on-chain lending functionalities, introduce yield products, and facilitate pooled liquidity directly within the XRP Ledger ecosystem. The introduction of SOIL and the underlying amendments signify a substantial expansion of the XRP Ledger's capabilities, moving beyond its traditional use cases. The XLS-65 amendment focuses on introducing a lending protocol, while XLS-66 is set to establish a framework for pooled liquidity. Together, these developments aim to create a more robust and versatile decentralized finance (DeFi) environment on the XRP Ledger, attracting new users and use cases to the platform. This move is expected to enhance the utility of the XRP Ledger and potentially increase its adoption within the broader cryptocurrency market.