1 month ago
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Key Takeaways
- XLS-66 proposes fixed-term, uncollateralized lending using pooled assets on XRPL.
- Single Asset Vaults would hold depositor funds and issue on-ledger ownership shares.
- Loan brokers would assess borrowers and manage credit risk outside the ledger.
- First-loss capital can offset part of a default, subject to the broker’s chosen coverage terms.
- XLS-66 is draft infrastructure, so pool terms and broker disclosures remain the key evidence to watch.
The proposed system starts with a vault and a broker
XLS-66 relies on XLS-65 Single Asset Vaults. A vault aggregates one asset from depositors and issues shares that represent each depositor’s interest in the pool. The asset can be XRP, an issuer-backed IOU or a Multi-Purpose Token.
A loan broker connects the vault to the lending protocol. The broker sets up the pool, originates loans and manages the arrangement throughout its life. The broker also sets key ...
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