Key facts
- Ripple approved the Sponsor amendment (XLS-68) for the XRP Ledger's v3.3.0 upgrade.
- The amendment allows entities to subsidize user transaction fees and reserves.
- XRP price fell over 5% to trade near $1.31 following CPI data.
- 11 UNL validators currently support the XLS-68 proposal, with 28 needed for activation.
Ripple has approved amendments for the XRP Ledger's v3.3.0 upgrade, including the XLS-68 Sponsored Fees and Reserves proposal. This initiative aims to reduce friction for new users by allowing companies and other entities to subsidize transaction costs and reserve requirements. Sponsors can co-sign transactions or pre-fund sponsorships, while users retain control of their accounts and keys. The proposal is seen as a move to boost adoption by banks and institutions. Mainnet activation requires 28 out of 35 UNL validator votes, and currently, 11 validators support the proposal. Other amendments, PermissionDelegationV1_1 and BatchV1_1, were activated in early October.