Vet

Contributing to @XRPLF. XRP Ledger dUNL Validator

[Vet @2Vet_XO]

Not too late to start believing in something.

[Vet @2Vet_XO]

.

[Vet @Vet_X0]

I believe decades will happen in weeks again.

[Vet @Vet_X0]

I believe decades will happen in weeks again.

[Vet @2Vet_XO]

✅

[Vet @Vet_X0]

With 29 Yes votes Permission Delegation is
now also in 2-Week activation on the XRP Ledger! ✅

Big enabler for institutions, get ready to see them come on chain on the XRP Ledger!

What is this feature again?
Permission Delegation is compliance & operations building block 🧵:

- Asset issuers for stablecoins and RWAs need the ability to split roles (delegate) on the issuer account. E.g Compliance Team gets funds freezing role and the operations team can mint assets for customers, and ONLY that.

They can't do anything else (!) while using their own XRP accounts instead of all of them sharing the keys to the main issuer.

Large institutions need this ability.

@rootveg444 explained very well how this looks like for the RLUSD team at Ripple.

- We have also seen @HugoPhilion explain how Wormhole needs this feature so they can get a permission delegation for the RLUSD account to bridge back from ETH to the XRP Ledger, which in turn enables Flare to offer borrowing against your funds on the XRPL.

- Other token issuers might also find it useful, you can delegate certain abilities to a new account and blackhole it after like @msvadari explained to cap asset supply without bricking the account.

Very exciting feature!

[Vet @Vet_X0]

With 29 Yes votes Permission Delegation is
now also in 2-Week activation on the XRP Ledger! ✅

Big enabler for institutions, get ready to see them come on chain on the XRP Ledger!

What is this feature again?
Permission Delegation is compliance & operations building block 🧵:

- Asset issuers for stablecoins and RWAs need the ability to split roles (delegate) on the issuer account. E.g Compliance Team gets funds freezing role and the operations team can mint assets for customers, and ONLY that.

They can't do anything else (!) while using their own XRP accounts instead of all of them sharing the keys to the main issuer.

Large institutions need this ability.

@rootveg444 explained very well how this looks like for the RLUSD team at Ripple.

- We have also seen @HugoPhilion explain how Wormhole needs this feature so they can get a permission delegation for the RLUSD account to bridge back from ETH to the XRP Ledger, which in turn enables Flare to offer borrowing against your funds on the XRPL.

- Other token issuers might also find it useful, you can delegate certain abilities to a new account and blackhole it after like @msvadari explained to cap asset supply without bricking the account.

Very exciting feature!

[Vet @2Vet_XO]

🤫

[Vet @Vet_X0]

🤫

[Vet @Vet_X0]

🤫

[Vet @2Vet_XO]

.

[Vet @Vet_X0]

What's most exciting isn't $1000 price predictions or any price prediction really.

It's the XRP Ledger growing and get adopted in TradFi as we speak. Nothing is being handed to us. This is hard work to make it happen.

Let price be a knock on effect of this hard work that goes into changing the rails of the financial system and revolutionizing money like we have never seen before in history.

[Vet @Vet_X0]

What's most exciting isn't $1000 price predictions or any price prediction really.

It's the XRP Ledger growing and get adopted in TradFi as we speak. Nothing is being handed to us. This is hard work to make it happen.

Let price be a knock on effect of this hard work that goes into changing the rails of the financial system and revolutionizing money like we have never seen before in history.

[Vet @2Vet_XO]

!

[Vet @Vet_X0]

Gained 1 more Yes vote and sitting at 27 Yes votes for Permission Delegation on the XRP Ledger!

It's evident that when we do thorough security work and the feature has in-demand use cases, validators are happy to vote for it.

We get faster amendment voting and predictable amendment activation the better we do the above! Which rewards safer amendments and more popular amendments.

Big thanks to @Katczynski i believe he also liked the summary i just showed to him here:
https://t.co/ezQqfm3LaX 🙂‍↕️

(Yes it will come to https://t.co/MPlHJQotW5)

[Vet @Vet_X0]

Gained 1 more Yes vote and sitting at 27 Yes votes for Permission Delegation on the XRP Ledger!

It's evident that when we do thorough security work and the feature has in-demand use cases, validators are happy to vote for it.

We get faster amendment voting and predictable amendment activation the better we do the above! Which rewards safer amendments and more popular amendments.

Big thanks to @Katczynski i believe he also liked the summary i just showed to him here:
https://t.co/ezQqfm3LaX 🙂‍↕️

(Yes it will come to https://t.co/MPlHJQotW5)

[Vet @2Vet_XO]

.

[Vet @Vet_X0]

Really impressed by the Permission Delegation voting on the XRP Ledger.

Within 10 days it has gotten 15 additional Yes votes and now sits at 26 Yes votes with 3 missing for activation.

1) Very clear use case for managing treasury and issuer accounts.

-Wormhole getting Permission Delegation on the RLUSD issuer account for very specific tasks. Which allows projects like Flare to use Wormhole to provide even more services to XRP holders and they demonstrated success accruing XRP TVL.

- Lauren Berta described the need to have multiple groups within a company like compliance to have limited access to the RLUSD issuer account.

This applies likely to other RWA issuers like Franklin Templeton etc.

2) Stronger security efforts.

- It's a reintroduced amendment that was already up for voting once, now with the new standard in security through Cantina AI audits and reviews.

[Vet @Vet_X0]

Really impressed by the Permission Delegation voting on the XRP Ledger.

Within 10 days it has gotten 15 additional Yes votes and now sits at 26 Yes votes with 3 missing for activation.

1) Very clear use case for managing treasury and issuer accounts.

-Wormhole getting Permission Delegation on the RLUSD issuer account for very specific tasks. Which allows projects like Flare to use Wormhole to provide even more services to XRP holders and they demonstrated success accruing XRP TVL.

- Lauren Berta described the need to have multiple groups within a company like compliance to have limited access to the RLUSD issuer account.

This applies likely to other RWA issuers like Franklin Templeton etc.

2) Stronger security efforts.

- It's a reintroduced amendment that was already up for voting once, now with the new standard in security through Cantina AI audits and reviews.

[Vet @2Vet_XO]

.

[Vet @Vet_X0]

Clearpool, Cicada and Ripple are building institutional credit infrastructure on the XRP Ledger.

I wanted to know how do loans on the XRPL differ with the upcoming XLS-66 and XLS-65 amendment?

Lending comes without smart contracts, how is the security seen by institutions?

Favorite use of off-chain collateral: turning high-quality receivables into liquidity on XRPL.

[Vet @Vet_X0]

Clearpool, Cicada and Ripple are building institutional credit infrastructure on the XRP Ledger.

I wanted to know how do loans on the XRPL differ with the upcoming XLS-66 and XLS-65 amendment?

Lending comes without smart contracts, how is the security seen by institutions?

Favorite use of off-chain collateral: turning high-quality receivables into liquidity on XRPL.

[Vet @2Vet_XO]

❤️

[Vet @Vet_X0]

XRP Ledger Version 3.4.0 is now out! ❤️

Performance and Stability added, as well as 2 amendments.

1) Lending V1.1 is available now, please vote for this amendment when you vote for XLS-66.

2) fix cleanup, a bundled fix amendment to improve and harden many XRPL features.

This one is personally very exciting. The packages for XRPL 3.4.0 are now distributed by the @XRPLF 🤗 For this, operators need to make a few extra commands before updating.
https://t.co/31DZvQWVhk

[Vet @Vet_X0]

XRP Ledger Version 3.4.0 is now out! ❤️

Performance and Stability added, as well as 2 amendments.

1) Lending V1.1 is available now, please vote for this amendment when you vote for XLS-66.

2) fix cleanup, a bundled fix amendment to improve and harden many XRPL features.

This one is personally very exciting. The packages for XRPL 3.4.0 are now distributed by the @XRPLF 🤗 For this, operators need to make a few extra commands before updating.
https://t.co/31DZvQWVhk

[Vet @2Vet_XO]

.

[Vet @Vet_X0]

Formal Verification is used on the XRP Ledger and particularly the Lending Protocol XLS-66.

It's also used in high assurance military systems, air traffic software, flight control systems, nuclear power plants and in all places where you want to sure the worst case is with a high degree of accuracy not possible to happen.

The idea is to use the most precise language that exists in this world - Math - to prove a systems design holds true for ALL inputs.

Not just the ones you tested as a dev.

To actually do this in practice scientists use special programming languages, in our case Lean 4.

Good thread by CommonPrefix why they picked this one to do the job.

[Vet @Vet_X0]

Formal Verification is used on the XRP Ledger and particularly the Lending Protocol XLS-66.

It's also used in high assurance military systems, air traffic software, flight control systems, nuclear power plants and in all places where you want to sure the worst case is with a high degree of accuracy not possible to happen.

The idea is to use the most precise language that exists in this world - Math - to prove a systems design holds true for ALL inputs.

Not just the ones you tested as a dev.

To actually do this in practice scientists use special programming languages, in our case Lean 4.

Good thread by CommonPrefix why they picked this one to do the job.

[Vet @2Vet_XO]

❤️

[Vet @Vet_X0]

Looking forward to deepening the collaboration with XRP community members, builders as well as stakeholders like @xrpl_commons and @Ripple to make the XRP Ledger an even better place to be ❤️

Job is definitely not finished.