XRP Ledger set to fix flaw that could let stablecoin partners print new tokens

The update, known as fixCleanup3_4_0, addresses a critical permission flaw. An account authorized only to destroy an issuer’s tokens could, under certain conditions, create new ones. This separation of duties is essential for stablecoin issuers, such as a company that destroys tokens when customers exchange them for dollars. The fix enforces that the payments service needs separate permission to issue more tokens.

The XRP Ledger’s official documentation currently warns developers against granting token-burning permission until this correction takes effect. The problem concerns tokens issued on the ledger, including stablecoins, but XRP’s own supply is unaffected by this permission bug.

Delayed activation

Changes to transaction rules require more than 80% support from validators for two uninterrupted weeks. With 35 validators tracked by XRPL Dashboard, that means 29 must consistently back the change. The fix was originally expected on Oct. 23, but support fell to 26 on Oct. 21 and recovered about two hours later, restarting the countdown and delaying activation by nearly two weeks.

The earliest activation window is now around 14:46 UTC on Nov. 4, provided support holds. The actual switch follows a network voting checkpoint.

Additional corrections

The update also corrects calculations used when issuers recover tokens from trading pools and when users deposit or withdraw from vaults that pool assets. Another correction prevents a loan from being marked late or in default before its due date has passed.

These lending repairs will arrive ahead of the lending service itself. Its main amendment has 19 votes, while the vault system it depends on has 21. Both need 29 votes to begin their own two-week countdowns. Reaching that threshold on Wednesday would put lending’s earliest possible activation on Nov. 18.