Ripple lending protocol vote moves within 7 approvals of activation

Ripple has secured 22 validator votes in favor of launching an XRP Ledger-based lending protocol, leaving it seven votes short of the 29 needed for final approval, CoinDesk reported. Under XRP Ledger rules, a network amendment is activated only if at least 29 of the 35 default validators support it for two consecutive weeks. The lending protocol and its first patch amendment each have 22 votes, while Single Asset Vault, a feature for depositing lending capital, has 23. Both features must meet the approval threshold for the lending protocol to go live. The protocol would allow users to lend deposited tokens such as XRP on an unsecured basis for a set period.