David Schwartz, who is the Chief Technology Officer (CTO) of Ripple, mentioned that he approves of the proposal for a lending protocol on Ripple ledger (XRPL). David, said that the lending protocol would bring more utility to Ripple Ledger.
Aanchal Malhotra, was the developer who initiated this lending proposal. Aanchal is the Head of Research at RippleX. David Schwart on the one hand, believes that this proposal would advance the native decentralized exchange (DEX) - making it more transparent and efficient.
This proposal was made via some tweets by RippleX. The main goal of this lending protocol is to improve Ripple Ledger's ability to take care of Decentralized Finance (DeFi), by making it possible for users to directly lend assets. By directly lending assets, there will be no need for intermediaries.
And the terms and conditions for loans would need to be accepted by those borrowing the loans, and an off-chain pool delegates. The loans will however be set down on-chain. Developers will be able to take advantage of this lending protocol to integrate lending decentralized apps on Ripple, thereby increasing the use cases.
This approval by the chief I believe certainly will push the token to a greater height I so much believe
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