Ripple former Chief Technology Officer David Schwartz and Flare CEO Hugo Philion have publicly disagreed over how large the lending market on the XRP Ledger could become. Schwartz said the native feature has not yet been built out and that early developers still have significant room to participate. Philion countered that Schwartz may still be underestimating the opportunity in lending and said Flare will move ahead with its own lending logic instead of waiting for a major XRPL upgrade. At the same time, XLS-66, a proposal tied to lending functionality on the XRP Ledger, remains under validator voting. Data cited in the report shows that investors have already used Flare infrastructure to borrow $7.95 million in RLUSD against 10.8 million wrapped XRP as collateral. The item was carried by Techub, citing BeInCrypto.
Ripple former Chief Technology Officer David Schwartz and Flare CEO Hugo Philion are debating the market outlook for lending on the XRP Ledger.
Schwartz said the native feature has not yet been developed and that early builders still have plenty of room to enter. Philion said Schwartz may still be underestimating the potential size of the lending market. He also confirmed that Flare will deploy its own lending logic rather than wait for a major upgrade to XRPL.
XLS-66 remains under validator voting
The XLS-66 proposal for lending functionality on the XRP Ledger is still being voted on by validators.
Collateralized borrowing is already taking place through Flare infrastructure
According to the figures cited in the report, investors have already borrowed $7.95 million in the RLUSD stablecoin through Flare infrastructure, using 10.8 million wrapped XRP as collateral.
The report was attributed to BeInCrypto and summarized by Techub.
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