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XLS-65/66: Two-step loan creation (LendingProtocolV1_2) #570

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b78eaed
adds LoanSet split specificaton
Tapanito Jun 24, 2026
ca03c5c
refactor: replace tfLoanSetAccept flag with LoanAccept transaction
Tapanito Jun 30, 2026
637347d
Merge remote-tracking branch 'origin/master' into tapanito/loan-set-s…
Tapanito Sep 7, 2026
c6fac4c
docs(XLS-66): complete two-step loan StartDate and cash-basis reserve
Tapanito Sep 7, 2026
9ad78b0
docs(XLS-66): fix the LoanManage unimpair cross-reference anchor
Tapanito Sep 7, 2026
6b1fbda
style(XLS-66): apply prettier to the two-step loan spec
Tapanito Sep 7, 2026
ef4fac4
docs: address loan split review feedback
Tapanito Sep 8, 2026
d8eea25
Merge origin/master into tapanito/loan-set-split
Tapanito Sep 8, 2026
daa770c
Merge origin/master into tapanito/loan-set-split
Tapanito Sep 8, 2026
5474ce9
Move two-step loan creation into LendingProtocolV1_2 patches
Tapanito Oct 1, 2026
721155b
State the cash-basis dependency of two-step loan creation
Tapanito Oct 1, 2026
260ee21
Exclude AssetsReserved from the LossUnrealized bound
Tapanito Oct 1, 2026
8990074
Merge remote-tracking branch 'origin/master' into HEAD
Tapanito Oct 13, 2026
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47 changes: 26 additions & 21 deletions XLS-0065-single-asset-vault/README.md
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Original file line number Diff line number Diff line change
Expand Up @@ -8,7 +8,7 @@
category: Amendment
requires: [XLS-33](../XLS-0033-multi-purpose-tokens/README.md)
created: 2024-04-12
updated: 2026-04-27
updated: 2026-09-08
</pre>

# Single Asset Vault
Expand Down Expand Up @@ -87,26 +87,27 @@ The key of the `Vault` object is the result of [`SHA512-Half`](https://xrpl.org/

A vault has the following fields:

| Field Name | Constant | Required | JSON Type | Internal Type | Default Value | Description |
| ------------------- | :------: | :------: | :----------------: | :-----------: | :-----------: | :----------------------------------------------------------------------------------------------------------------------------------------------------- |
| `LedgerEntryType` | No | Yes | `string` | `UINT16` | `0x0084` | Ledger object type. |
| `LedgerIndex` | No | Yes | `string` | `UINT16` | `N/A` | Ledger object identifier. |
| `Flags` | Yes | Yes | `string` | `UINT32` | 0 | Ledger object flags. |
| `PreviousTxnID` | No | Yes | `string` | `HASH256` | `N/A` | Identifies the transaction ID that most recently modified this object. |
| `PreviousTxnLgrSeq` | No | Yes | `number` | `UINT32` | `N/A` | The sequence of the ledger that contains the transaction that most recently modified this object. |
| `Sequence` | No | Yes | `number` | `UINT32` | `N/A` | The transaction sequence number that created the vault. |
| `OwnerNode` | No | Yes | `number` | `UINT64` | `N/A` | Identifies the page where this item is referenced in the owner's directory. |
| `Owner` | No | Yes | `string` | `AccountID` | `N/A` | The account address of the Vault Owner. |
| `Account` | No | Yes | `string` | `AccountID` | `N/A` | The address of the Vaults _pseudo-account_. |
| `Data` | Yes | No | `string` | `BLOB` | None | Arbitrary metadata about the Vault. Limited to 256 bytes. |
| `Asset` | No | Yes | `string or object` | `ISSUE` | `N/A` | The asset of the vault. The vault supports `XRP`, `IOU` and `MPT`. |
| `AssetsTotal` | No | Yes | `number` | `NUMBER` | 0 | The total value of the vault. |
| `AssetsAvailable` | No | Yes | `number` | `NUMBER` | 0 | The asset amount that is available in the vault. |
| `LossUnrealized` | No | Yes | `number` | `NUMBER` | 0 | The potential loss amount that is not yet realized expressed as the vaults asset. |
| `AssetsMaximum` | Yes | No | `number` | `NUMBER` | 0 | The maximum asset amount that can be held in the vault. Zero value `0` indicates there is no cap. |
| `ShareMPTID` | No | Yes | `number` | `UINT192` | 0 | The identifier of the share MPTokenIssuance object. |
| `WithdrawalPolicy` | No | Yes | `string` | `UINT8` | `N/A` | Indicates the withdrawal strategy used by the Vault. |
| `Scale` | No | Yes | `number` | `UINT8` | 6 | The `Scale` specifies the power of 10 ($10^{\text{scale}}$) to multiply an asset's value by when converting it into an integer-based number of shares. |
| Field Name | Constant | Required | JSON Type | Internal Type | Default Value | Amendment | Description |
| ------------------- | :------: | :------: | :----------------: | :-----------: | :-----------: | :-------------------- | :----------------------------------------------------------------------------------------------------------------------------------------------------- |
| `LedgerEntryType` | Yes | Yes | `string` | `UINT16` | `0x0084` | | Ledger object type. |
| `LedgerIndex` | Yes | Yes | `string` | `HASH256` | `N/A` | | Ledger object identifier. |
| `Flags` | No | Yes | `number` | `UINT32` | 0 | | Ledger object flags. |
| `PreviousTxnID` | No | Yes | `string` | `HASH256` | `N/A` | | Identifies the transaction ID that most recently modified this object. |
| `PreviousTxnLgrSeq` | No | Yes | `number` | `UINT32` | `N/A` | | The sequence of the ledger that contains the transaction that most recently modified this object. |
| `Sequence` | No | Yes | `number` | `UINT32` | `N/A` | | The transaction sequence number that created the vault. |
| `OwnerNode` | No | Yes | `number` | `UINT64` | `N/A` | | Identifies the page where this item is referenced in the owner's directory. |
| `Owner` | No | Yes | `string` | `AccountID` | `N/A` | | The account address of the Vault Owner. |
| `Account` | No | Yes | `string` | `AccountID` | `N/A` | | The address of the Vaults _pseudo-account_. |
| `Data` | Yes | No | `string` | `BLOB` | None | | Arbitrary metadata about the Vault. Limited to 256 bytes. |
| `Asset` | No | Yes | `string or object` | `ISSUE` | `N/A` | | The asset of the vault. The vault supports `XRP`, `IOU` and `MPT`. |
| `AssetsTotal` | No | Yes | `number` | `NUMBER` | 0 | | The total value of the vault. |
| `AssetsAvailable` | No | Yes | `number` | `NUMBER` | 0 | | The asset amount that is available in the vault. |
| `LossUnrealized` | No | Yes | `number` | `NUMBER` | 0 | | The potential loss amount that is not yet realized expressed as the vaults asset. |
| `AssetsReserved` | No | Yes | `number` | `NUMBER` | 0 | `LendingProtocolV1_1` | The total amount of assets reserved for pending Loans that have not yet been accepted. |
| `AssetsMaximum` | Yes | No | `number` | `NUMBER` | 0 | | The maximum asset amount that can be held in the vault. Zero value `0` indicates there is no cap. |
| `ShareMPTID` | No | Yes | `number` | `UINT192` | 0 | | The identifier of the share MPTokenIssuance object. |
| `WithdrawalPolicy` | No | Yes | `string` | `UINT8` | `N/A` | | Indicates the withdrawal strategy used by the Vault. |
| `Scale` | No | Yes | `number` | `UINT8` | 6 | | The `Scale` specifies the power of 10 ($10^{\text{scale}}$) to multiply an asset's value by when converting it into an integer-based number of shares. |

##### 3.1.2.1 Flags

Expand Down Expand Up @@ -771,6 +772,7 @@ This RPC retrieves the Vault ledger entry and the IDs associated with it.
| `vault.Asset.currency` | Yes | `string` | Currency code of the asset stored in the vault. |
| `vault.Asset.issuer` | No | `string` | Issuer address of the asset. |
| `vault.AssetsAvailable` | Yes | `string` | Amount of assets currently available for withdrawal. |
| `vault.AssetsReserved` | No | `string` | Total amount of assets reserved for pending Loans that have not yet been accepted. Introduced by the `LendingProtocolV1_1` amendment. |
| `vault.AssetsTotal` | Yes | `string` | Total amount of assets in the vault. |
| `vault.Flags` | No | `number` | Bit-field flags associated with the vault. |
| `vault.LedgerEntryType` | Yes | `string` | Ledger entry type, always "Vault". |
Expand Down Expand Up @@ -823,6 +825,7 @@ Vault holding an `IOU`:
"issuer" : "r9cZ5oHbdL4Z9Maj6TdnfAos35nVzYuNds"
},
"AssetsAvailable" : "100",
"AssetsReserved" : "0",
"AssetsTotal" : "100",
"Flags" : 0,
"LedgerEntryType" : "Vault",
Expand Down Expand Up @@ -875,6 +878,7 @@ Vault holding an `MPT`:
},
"AssetsTotal": 1000000,
"AssetsAvailable": 800000,
"AssetsReserved": 0,
"LossUnrealized": 200000,
"AssetsMaximum": 0,
"Share": {
Expand Down Expand Up @@ -902,6 +906,7 @@ Vault holding `XRP`:
"currency": "XRP"
},
"AssetsAvailable": "0",
"AssetsReserved": "0",
"AssetsTotal": "0",
"Flags": 0,
"LedgerEntryType": "Vault",
Expand Down
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