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XRP XRPL update: xrpld v3.4.0 released, introducing loan agreement upgrades and multiple fixes
RippleX (the team behind the XRP Ledger reference server software) has released xrpld version 3.4.0. The update introduces two new amendments designed to expand the network's native lending capabilities. This version was officially released on September 17 in the XRPL Foundation's GitHub repository.
According to the release notes, the new version introduces two amendments,LendingProtocolV1_1 and fixCleanup3_4_0, and officially decommises the fixAMMOverflowOffer amendment.
Closed Treasury and Cash Basic Accounting System
The highlight of this update is Lending Protocol V1_1 , which expands on the existing Lending Protocol and SingleAssetVault amendments. This update introduces a "Closed-Ended Vaults" structure, which consists of three clear phases-subscription period, investment period and redemption period, which determine the time window for asset deposits, loan issuance and asset redemption respectively. Once the amendment is activated, new loan brokers can only be created for closed vaults.
In addition, the version also adjusted the accounting treatment of the treasury and shifted to the "Cash-Basis" accounting system. This means that interest is recognized as income only when actual payments are received, rather than being recorded immediately when the loan is issued. This change improves the accuracy of financial reporting.
Bundle fixes and retirement of old amendments
The new version also includes fixCleanup3_4_0，这是一个打包了多项通过修正案门禁的控制修复程序。主要变更包括：
- 信任线限制应用范围扩大：
asfDisallowIncomingTrustline标志现在适用于 OfferCreate。因此，如果没有建立信任线，账户将无法使用报价单接收设置了该标志的发行人发行的代币。 - 权限去中心化交易所（DEX）不变量优化： 已删除域的报价单不再纳入 Permissioned DEX 不变量的检查范围。
- AMMClawback 补丁修复： 修复了在整数舍入向下取整导致金额为零时，静默回收失败的问题。
- 自动创建持仓豁免： 当必须自动创建配对资产持仓时，允许 Clawback 绕过所有者储备检查。
另外，fixAMMOverflowOffer 修正案已被永久退役并合并至协议中。此次工作延续了 XRPL 早期修正案发布的传统，包括 RippleX 于 9 月推出的 Batch V1.1 修正案。
运营商升级指引
版本 3.4.0 还将 xrpld 的 DEB 和 RPM 包迁移至 packages.xrplf.org，并使用 XRPLF 密钥进行签名。XRPL 基金会敦促所有运行 XRP Ledger 服务器的运营商尽快升级，以确保服务的连续性。
与其他 XRPL 更改一样，新修正案不会立即激活。LendingProtocolV1_1 和 fixCleanup3_4_0 仍受网络验证者投票流程的限制。因此，代码现已发布，但实际激活取决于后续的修正案通过流程。
此次发布是 XRPL 持续更新系列中的最新一员。近期，XRPL 还增加了对 Stripe 和 Tempo 的 AI 支付标准的支持。
为何此次借贷升级至关重要
现金基础会计制度的改变影响了金库收入的报告方式：利息仅在借款人实际支付时才会实现，这降低了借贷协议在资金到账前高估收益的风险。封闭式金库通过明确的认购、投资和赎回阶段，为贷方和借方提供了更清晰的资本进出时间框架。
对于更广泛的 XRP Ledger 生态系统而言，此次发布表明，尽管每项更改仍需经过验证者批准，但原生 DeFi 工具的开发仍然是优先事项，且进展活跃。
