Ecosystem Update - February 2024
Alex Stoicescu
Mar 18, 2024
4 min.
Greetings, Request Network community!
Welcome to the Request Network ecosystem update for February 2024.
The Ecosystem Update focuses on protocol usage and our vision to build an ecosystem of decentralized apps for payment requests. Here, you will find our ecosystem updates, major news and announcements, and anything else that interests the community.
The current ecosystem built around the Request Network protocol includes the following builders: Huma Finance (lending and borrowing), Joba Network and TalentLayer (future-of-work platforms), BSOS (supply chain financing), Copra Finance (lending and borrowing), FLock (machine-learning credit scoring) and Request Finance (invoicing and payroll). If you’re interested in what we are building together with the previously mentioned companies and want to share your vision with us, don’t hesitate to apply to our grants program.
Tech update
Started deployment on Base
In February, we deployed our smart contracts on Base chain but have not yet deployed the payments subgraph. The full deployment should be available in March. Follow our socials for the official announcement.
Infrastructure implementation update
The Request Network blockchain engineers have spent the last few months migrating the Request Node Gateways from one hosting solution to another. In February, we finalized the implementation. Along the way, we simplified the deployment process to make it easier for our ecosystem builders to run their own Request Nodes. We’re currently testing the new deployments and will update the documentation and rollout soon, tentatively scheduled for April.
Highlights from February
ETHDenver 2024
The Request Network team was present for one of the biggest web3 conferences in the industry, ETHDenver, with Alex Stoicescu, Alexandru Popescu, Francisco Pinto, and Neil Duffy on the ground.
This was a great opportunity for the (almost) entire team to get together in one place, discuss 2024 plans, and attend some of ETHDenver's over 400 side events to generate more leads. Moreover, we met with our latest grant recipient, TalentLayer, represented by co-founder Kirsten Pomales.
Last but not least, we were invited to participate in a panel discussion on the first day of the conference alongside FWB, Coinbase, and SporkDAO. The panel’s topic was building products for real humans, and the full recording can be accessed here.
Hacken partnership
We have partnered with Hacken, a leading blockchain security auditor, to nurture our ecosystem builders, often small companies at the beginning of their journey. Our builders can now access discounted services such as smart contract audits, dApp audits, bug bounty programs, tokenomics design and more.
Backdrop.so program
In February we joined forces with Backdrop, who are hosting a 4-week (free) program where hundreds of builders build on the frontiers of web3 tech. The submission period ended in late February, and we’ve counted around 23 projects interested in incorporating Request Network’s infrastructure. More news to come in March!
New career opportunities
Request Network is looking for an experienced web3 business developer to help us grow our ecosystem, onboard new builders, and explore new concepts together with the current team.
Read more about who we’re looking for and the requirements here.
REQ token burn
We performed a token burn worth $1262, with 11,351 REQ tokens sent to the burn address.
This brings the total number of tokens burned to 346,595, according to the Req.Network dashboard.
Protocol usage in February
Request Network transactions (i.e., creation, approvals, and/or rejections of invoices) are illustrated in the above visual.
New record, again! February 2024 has seen an even bigger number of batched transactions on Request Network than the previous record-breaking month: 13382! The number of individual transactions was 19475. The latest projections indicated that we will pass over 20000 individual transactions in March, which would be an amazing milestone for our protocol.
Note: a batched transaction can contain multiple individual transactions (such as in the case of a company’s payroll process). The token burn occurs once per batch transaction.
ABOUT REQUEST NETWORK
The Request Network Foundation’s mission is to re-invent accounting and finance by creating a decentralized network of interoperable apps that promotes transparency and real-time reporting.
We inspire and educate developers, partners, and authorities to use Request Network and build an open-source, seamless, and interoperable.
We’re building a network that connects businesses worldwide, giving them ways to do business at the speed of the internet.
Be a part of tomorrow’s financial revolution!
Website | Blog | Twitter | Linkedin | Discord | Github
