In a development today, a local lending protocol to be launched in XRPL has come to the fore. Ripple CTO David Schwartz shared his views on the latest proposal for this protocol. By the way, it should be noted that David Schwartz is one of the software engineers who built this ledger. This makes his comment even more interesting.
Ripple CTO excited about lending protocol prospect
David Schwartz published a post to confirm the proposal made by developers Aanchal Malhotra (also head of research at RippleX) and Vito Tumas. In this context, Schwartz opened the proposal to his followers for review and feedback. Ripple CTO said that if this proposal is accepted, it will add a new utility to XRP Ledger.
David Schwartz is confident that the proposed lending protocol can help the local decentralized exchange (DEX) form “a critical pillar in providing more accessible, efficient and transparent financial services.”
New XRPL lending offering
cryptokoin.comAs you follow from , Ripple has introduced a native lending protocol proposal on the XRP Ledger. He published a series of tweets for this. With this offering, Ripple aims to improve its capabilities in dealing with DeFi. The new protocol will increase transparency and expand financial inclusion for users without the help of any intermediaries. This will allow users to lend and borrow assets directly. The main focus of the protocol will be flexibility and reusability. It will also allow users to tokenize assets.
Users will deposit exchangeable tokens (XRP, wBTC, wETH and others) into a lending pool for interest. Loan terms will be agreed off-chain by borrowers and pool delegates. It will then be recorded on-chain. Developers will also benefit from this offering as it will enable them to easily build and integrate decentralized applications lending on XRPL, offering a wide range of use cases.
Ripple CTO comments on Ripple’s anti-fraud video
Earlier this week, Schwartz commented on a video posted by Ripple chief Brad Garlinghouse. This was Ripple’s response to numerous scams promoted on social media in recent years.
Schwartz shared an obscure joke about this video, commenting on the “hair” joke made by Brad Garlinghouse in the video. Besides this, the CEO said that there is no “XRP airdrop” promoted by scammers. He also stated that Ripple will never ask users to send their XRP coins. Additionally, Garlinghouse noted that Ripple was “fighting back.”
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