✓ Official source XRP
XRP Ledger bug-fix bundle slips to Nov. 4 after a two-hour validator dip, while the lending protocol still lacks votes
Summary
A bundle of XRP Ledger fixes called fixCleanup3_4_0 had been due to activate around 09:34 UTC on Oct. 23, but a brief dip in validator support on Oct. 21 reset its two-week countdown, and it is now listed to go live at 14:46 UTC on Nov. 4, CoinDesk reported citing XRPL Dashboard and XRPLWin.
According to the official XRPL.org amendment documentation, the bundle fixes Single Asset Vaults, the Lending Protocol, AMMs, the permissioned DEX, trust lines, NFTs, MPTs, escrow and other features, including more precise vault rounding.
The lending system the patch partly repairs is not live: CoinDesk said the LendingProtocol and vault amendments had 19 and 21 votes against the 29 needed, so lending could not go live before early November even if both reached majority now.
Vote counts differ by data source: CoinDesk cited 29 of 35 trusted validators via the XRPL Dashboard on Oct. 19 and 31 of 35 after the reset, while XRPScan's API on Oct. 19 showed 26 votes against a 25-vote threshold from 32 validators it sees.
Updates
- Update, : Oct. 19: Decrypt reported a second amendment, LendingProtocolV1_1, that revises the lending code before it goes live; XRPScan showed it with 17 votes against a 25-vote threshold Monday.
- Update, : Oct. 22: CoinDesk reported that support for fixCleanup3_4_0 briefly fell to 26 of 35 validators at a 12:54 UTC check on Oct. 21, resetting its two-week clock less than two days before activation; it regained 29 votes by 14:46 UTC and XRPLWin now lists activation for 14:46 UTC on Nov. 4. Support has since risen to 31.
- Update, : Update (Nov. 2): CoinDesk reported the fix, which addresses a flaw that could have let stablecoin partners print new tokens, is on track to activate Wednesday after the earlier dip in validator support restarted its two-week clock. CoinDesk said XRP itself is unaffected.
- Update, : Update (Nov. 5): The fixCleanup3_4_0 amendment activated Wednesday at 14:52 UTC at ledger 108,112,129 after two uninterrupted weeks of validator support, CoinDesk reported, citing XRPLWin. The live fix closes the loophole that could let an account authorized only to burn an issuer's tokens also create new ones under certain conditions; issued assets such as stablecoins were in scope, XRP itself was not, and no public exploitation has been confirmed.
Key facts
- CoinDesk said an amendment needs support from more than 80% of the network’s default trusted validators for two straight weeks, and that with no votes to spare one validator withdrawing would restart the clock.
- CoinDesk said the patch also closes a loophole that could let an account allowed only to burn tokens on an issuer’s behalf create new ones under certain conditions, citing the xrpld 3.4.0 release notes.
- The xrpld 3.4.0 release notes list fixCleanup3_4_0 as a bundle of amendment-gated fixes and tell XRP Ledger server operators to upgrade to 3.4.0 as soon as possible.
- CoinDesk said Ripple’s proposed lending design is uncollateralized: lenders deposit into a vault, a loan broker lends for a fixed term, and the broker decides offchain whether a borrower qualifies.
- Decrypt said developers published a follow-up amendment, LendingProtocolV1_1, to correct issues in the original LendingProtocol code before it takes effect, and that the documentation now lists both amendments as requirements for the lending feature.
- XRPL.org describes LendingProtocolV1_1 as extending LendingProtocol and SingleAssetVault with closed-ended vaults, which have subscription, investment and redemption phases, and cash-basis accounting that books interest only when payments are made; after it is enabled, new loan brokers can be created only against closed-ended vaults.
- XRPScan’s amendment data on Monday afternoon showed LendingProtocolV1_1 and LendingProtocol each with 17 votes and SingleAssetVault with 19, against a 25-vote threshold from 32 validators.
- CoinDesk said validator support is checked roughly every 15 minutes and must hold at every check for 14 days, and that a validator that is offline or restarting at a checkpoint counts the same as a no; neither tracker shows which validators dropped off.
- CoinDesk said the fix now heads into its second countdown with two votes to spare, after having none the first time, and that the lending system it patches still isn't live.
- The XRP Ledger fix for a flaw that could have let stablecoin partners print new tokens is on track for Wednesday; XRP itself is unaffected.
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