Ecosystem Update - January 2025
Alex Stoicescu
Feb 14, 2025
4 min.
Greetings, Request Network community!
Welcome to the Request Network ecosystem update for January 2025.
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), intrXn (payments and invoicing) 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
Request Network API
In January, we developed the Request Network API. It provides an interface for managing payment requests within your application. It simplifies creating, tracking, and paying requests. This includes generating requests with specific details, securely facilitating payments through blockchain transactions, and providing real-time notifications via webhooks to keep your application synchronized with payment statuses.
At its core, the Request Network API empowers you to:
Create Requests: Define payment requests with essential information such as payee, payer (optional), amount, and currency details.
Facilitate Payments: Guide users through the payment process, leveraging blockchain transactions for secure and transparent value transfer.
Deliver Webhook Notifications: Receive instant updates on payment status changes, enabling your application to react dynamically to completed transactions.
The following diagram illustrates the typical flow for creating and paying requests using the Request Network API:
Request Network Token List
The Request Network Token List is a curated list of tokens supported by Request Network products. It follows a standardized format and includes essential information about each token, such as its ID, address, symbol, name, decimals, and chain ID.
Anyone can propose a new token to be added to the token list by submitting a pull request to the request-token-list repository in Github.
In-memory Request Documentation
We wrote documentation for In-memory Requests. In-memory requests allow for the creation and management of requests without immediately persisting them to storage. This enables faster payment workflows and deferred persistence.
Key benefits:
Faster payment flow: In-memory requests are helpful when payment is the priority, such as in e-commerce cases. In this scenario, the request is a receipt rather than an invoice.
Deferred Persistence: With in-memory requests, a request can be created on the front end with a user's signature and passed on to the backend for persistence.
Request Invoicing: Payment Links and Single Invoice Page
We added Payment Links and the Single Invoice Page to Request Invoicing.
You can copy the payment link by clicking the Share icon at the top of the Invoice View on the Invoice Dashboard.
Example Payment Link: https://invoicing.request.network/invoice/0195d94d9455b34cd5eb66bf9521c493c3151db0a1699124213ae8872039a22c2b
This particular invoice is unencrypted so that everyone can view it, but it should be noted that the Single Invoice page also supports encrypted requests so that the contents of the request can only be viewed by authorized parties, typically only the payee and payer.
Highlights from January
Two new ecosystem builders: Allora and Hyprsqrl
Two new cutting-edge platforms are integrating Request Network to enhance payments and bring financial automation to everyone looking to improve their processes. Both platforms are in beta and looking for testers, so here’s your chance to get involved early!
Allora Finance is an all-in-one business management tool for freelancers, startups, and Web3 businesses. It offers automated time tracking, project management, and crypto invoicing with on-chain accounting. Request Network powers its decentralized payments for smoother financial operations.
Hyprsqrl is an AI-powered financial automation platform that acts as your personal CFO. It monitors invoices, detects financial actions in messages and emails, and seamlessly automates crypto payments. With Request Network, Hyprsqrl ensures reliable and auditable invoicing for Web3 businesses, professionals, and anyone else in between.
Want to be an early tester? Visit each platform’s website and sign up with your email address for beta access right now!
BUIDL Europe in Lisbon
In January 2025, the Portuguese part of our team attended the inaugural BUIDL Europe conference in Lisbon, held on January 9-10 at the Red Cross Portugal venue. This two-day technical event focused on fostering collaboration among builders and founders in the blockchain space. Notable speakers included Diogo Monica, Co-Founder of Anchorage Digital, and Nuno Loureiro, Lead Designer of ethereum.org.
Protocol usage in January
The above visual illustrates Request Network transactions (e.g., invoice creation, approval, and/or rejection).
Momentum continues for Request Network! January maintained December’s rebound, with strong transaction volume. With beta integrations rolling out and new builders joining, expect an even bigger impact in the coming months!
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 financial ecosystem.
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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