XRP Ledger release prepares further lending changes

The XRP Ledger's server software reached version 3.4.0, introducing changes associated with the LendingProtocolV1_1 and fixCleanup3_4_0 amendments. The release also retires the earlier fixAMMOverflowOffer amendment from the software's active amendment set.

The lending changes include support for closed-ended vaults, with distinct subscription, investment and redemption phases. They also revise interest accounting towards a cash basis, recognising interest when it is paid rather than when a loan originates. These changes refine how the proposed lending infrastructure represents funds and income.

Distribution details change alongside the protocol code, with packages moving to packages.xrplf.org and an updated signing key. Publishing a server release does not activate every included amendment: the network's amendment process still determines when the corresponding ledger behaviour becomes available. Operators therefore need to distinguish software availability from protocol activation.