Ecosystem Update - January 2024
Alex Stoicescu
Feb 15, 2024
4 min.
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
Infrastructure work
The Request Network blockchain engineers have spent the last few months working on the code and implementation required to host a Request Network gateway. This will help builders and anyone wishing to decentralize Request Network further and offer redundancy.
Documentation to follow, but, in short, the above can be run via a simple docker-compose or our preferred method, a docker swarm/service framework with UI. Expect more infrastructure-related news soon!
Highlights from January
TalentLayer grant
The latest Request Network grant, worth $43k, goes to TalentLayer, a company building the global network layer for work. Their business case for breaking down silos strongly resonated with our values, opening the door for a collaborative endeavor to integrate our robust invoicing infrastructure into the TalentLayer SDK.
An open-source protocol and API for connecting all sorts of marketplaces, TalentLayer aims to even out supply and demand and increase the number of successful matches. The first platform to incorporate both the TalentLayer and the Request Network tech stacks is BuilderPlace. This white-label marketplace helps software projects grow their ecosystem of open-source contributors through bounties. These bounties are shared across a network of platforms (network effects are very important for both our teams), helping reach more contributors with said opportunities. BuilderPlace leverages TalentLayer for user identification, reputation, and payments and Request Network for invoicing and receipt management.
The TalentLayer story began in the summer of 2022 when an all-technical team with a stellar track record got together and started building a new open-source project based on their previous experiences as freelancers. Meet and connect with the founders - Kirsten, Romain, and Quentin. Find out more about the TalentLayer SDK & API by browsing their documentation.
New career opportunities
Request Network is looking for a web3 full-stack developer to help us grow our ecosystem of financial products & services, onboard new builders, and add new capabilities to the protocol.
Read more about who we’re looking for and the requirements here.
REQ token burn
We performed a token burn worth $1374, with 17,000 REQ tokens sent to the burn address.
This burn brings the total number of tokens burned to 335,244, according to the Req.Network dashboard.
Protocol usage in January
Request Network transactions (i.e., creation, approvals, and/or rejections of invoices) are illustrated in the above visual.
New record! January 2024 has seen a whopping 12683 batched transactions on Request Network. The number of individual transactions was 16429. Thanks to our ecosystem builders, we have blown past our historical expectations for the past month and are on track to reach even higher numbers next month.
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!
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