Ripple CTO Very Excited About New XRPL Lending Protocol Proposal for DeFi Expansion

The proposed lending protocol could help the native decentralized exchange (DEX) to create “a critical pillar in enabling more accessible, efficient, and transparent financial services,” Schwartz is certain.

New XRPL lending proposal

RippleX published a series of tweets to introduce a proposal for a native lending protocol on XRP Ledger, which is intended to improve its capabilities to deal with DeFi.

The new protocol would allow users to lend and borrow assets directly, expanding financial inclusion, boosting transparency without the help of any intermediaries. The protocols main focus would be flexibility and reusability. It would also allow users to tokenize assets.

Users would put fungible tokens (XRP, wBTC, wETH and others) to a lending pool in order to earn interest on that. Loan terms would be agreed on by borrowers and pool delegates off-chain and then would be recorded on-chain too.

Developers would also benefit from this proposal as it would enable them to easily build and integrate lending decentralized applications on XRPL and offer a broad range of use cases.

Ripple CTO comments on Ripples anti-scam video

Earlier this week, Schwartz commented on the video published by the Ripple chief Brad Garlinghouse. This was Ripples response to the multiple scams and fake XRP giveaways promoted on social media over the past years.

Schwartz shared a vague joking take on that video, commenting on the “hair” joke made by Garlinghouse in the video. Aside from that, the CEO stated there are no “XRP airdrops” promoted by scammers and Ripple would never ask users to send it their XRP coins. Besides, Garlinghouse stated that Ripple is “fighting back.”