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XRP 
RLUSD Vet (@Vet_X0), the verifier on the XRP ledger, recently shared a video from Joel Mun (@9oelM), senior developer relations manager at RippleX, calling it "the best explanation of the XRP ledger loan agreement to date." He added,"Lending and collateral management will become the main pillars of the XRP ledger." The post pointed to one of the network's most significant infrastructure upgrades in years.
What is a single asset pool?
XLS-65 introduces a single asset pool, a native on-chain primitive that aggregates the funds of multiple depositors into a shared pool. Subsequently, the pool provided liquidity for other XRPL agreements, starting with the XLS-66 lending agreement. The pool can hold XRPs, issued tokens, or multi-purpose tokens.
Vet emphasized the importance of the amendment and said it was just the beginning of greater changes. The amendment still requires more than 80% validator support to be activated on the main network. Currently, XLS-65 has about 40% of the consensus vote, and XLS-66 has more than 37%.
The best XRP Ledger Lending protocol explainer so far! Well explained, how it works and what this brings in utility.Lending, borrowing and collective management is going to be a major pillar of the XRP Ledger.https://t.co/kh7A3TAmHX- Vet (@Vet_X0)August 27, 2026
Pool's working principles
Mun clearly explains its mechanism in the video. Depositors deposit assets into the pool and receive the corresponding share. These shares represent their proportion in the total pool. Share value is not fixed. When a pool earns interest through loans, the total pool value increases, while the number of shares remains the same, so the value of each share increases.
Mun gave a specific example: a depositor deposited 100,000 RLUSD. After earning interest in the pool, two-thirds of her share corresponded to 165,000 RLUSD, and eventually returned 110,000 RLUSD, making a profit of 10,000 RLUSD just by providing liquidity.
Access Rights and Activity Requirements
There are two configurations for the pool. Public pools allow anyone to deposit funds. Private pools run behind the licensed domain and are accessible only to authenticated participants. Mun pointed out that this would be very useful for regulated agencies, making the design suitable for institutional participants seeking infrastructure along the compliance chain.
Mun also made it clear that the pool alone would not generate any benefits. Income is activated only if the pooled asset is connected to an agreement that generates income (such as a loan agreement, where funds are lent out with interest). Future XRPL primitives will also adopt the same pool structure.
What's the next step?
Mun ends the video by pointing out that XLS-66 (loan agreement) will be the subject of his next explanation video. The specification covers loan creation, interest accumulation, repayment and default management. XLS-65 and XLS-66 together form a two-tier credit infrastructure designed to run natively on XRP ledgers. Vet believes these will become the main pillars of the XRP ledger.
