‘Just 1 Vote Away’: XRP Amendment Might Unlock Trillions in Institutional Capital

The amendment for Permissioned Domains is ticking down to an activation timer. According to Grape, an XRPL validator, the permissioned domains amendment is just one vote away, having secured 79.41% support, according to xrpscan data. The amendment has seen 27 validators voting in support and 7 against out of 34 UNL validators.

Grape highlighted that with the permissioned domains nearing majority, XRP Ledger is just one vote away from unlocking trillions in institutional capital. “We are literally one validator vote away, time to get this done,” he wrote.

An amendment must gain the majority, or 80% support, in order to trigger an activation timer, implying that the permissioned domain is just 0.59% away from this threshold. Once reached, it must hold above the 80% support for two weeks for it to be activated on the mainnet.

Permissioned Domains

Permissioned Domains is regarded as a game changer for XRP Ledger as it brings institutional grade controls to the public network, without sacrificing the trade-offs of a private chain.

The Permissioned Domains amendment is an enabling feature, 

as it will ultimately enable the permissioned DEX, which sets the stage for financial institutions to engage in permissioned flows on the XRPL.

The Permissioned DEX will enable permissioned trading flows, and the upcoming Lending Protocol may apply Permissioned Domains for controlled lending and borrowing flows.

Permissioned DEX is anticipated to act as a magnet for payment-related institutional flows. Institutional use cases include stablecoin and fiat FX swaps, contractor /payroll payouts, cross-border B2B payments and corporate Treasury.

XRP Community Day date announced

According to RippleX, XRP Community Day is scheduled to return on Feb. 11. The global event is set to be held across three regional X Spaces, so anyone can join live. The date for the APAC region is Feb. 12.

In February, the XRP Australia event is scheduled for Feb. 27, and it will delve into crucial discussions on XRPL advancements, DeFi growth, regulatory clarity, AMMs and the APAC.