Ecosystem Update - November 2023
Alex Stoicescu
Dec 20, 2023
4 min.
Greetings, Request Network community!
Welcome to the Request Network ecosystem update for November 2023.
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 (future-of-work hiring platform), 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
AddStakeholder Web Component
We have exciting news for builders in our ecosystem who want to access requests that were created in Request Finance. This could be useful for risk assessment and credit scoring, or for an end-user to view their requests on a different platform.
The add-stakeholder web component allows builders to quickly integrate the Request Finance Add Stakeholder widget into their applications.
The Request Finance Add Stakeholder widget provides a dialog box for end-users to grant third-party access to one of their encrypted payment requests created via Request Finance.
Then, under the hood, Request Finance calls request.addStakeholders() to add the third party as a stakeholder to the encrypted payment request.
Deployed to zkSync Era and CORE
Thanks to efforts by the Request Finance team, Request Network now supports payments on zkSync Era and CORE chains!
On zkSync Era we deployed the following payment smart contracts:
On CORE we deployed the following payment smart contracts:
We deployed the payments-subgraph:
zkSync Era: https://api.studio.thegraph.com/query/35843/request-payment-zksyncera/version/latest
CORE: https://thegraph.coredao.org/subgraphs/name/request-payments-core
We are still working on updating the Request Network SDK to fully support these new chains and will let everyone know as soon as it’s done. You can see all the chains that Request Network currently supports at Supported Chains.
New Subgraph Deployments to the Arbitrum-based Decentralized Network
Another development for which we wish to thank our ecosystem builders at Request Finance – we have added five new deployments and migrated two existing deployments of our payments subgraph to TheGraph Arbitrum-based decentralized network.
Added Chains
Those chains were deployed on TheGraph decentralized network:
matic
arbitrum-one
avalanche
fantom
celo
Modified Chains
Those chains were migrated from the (now deprecated) Ethereum-based decentralized network to the newer Arbitrum-based decentralized network (see the Arbitrum announcement):
gnosis
mainnet (ethereum)
November Highlights
Devconnect Istanbul
November brought one of the most popular Ethereum-focused events of the year, Devconnect. Last year’s edition took place in Amsterdam, while for 2023, the web3 community flocked to Istanbul, a city bursting with culture and opportunities.
The Request Network team was represented by Francisco Pinto, Alexandru Popescu, and Alex Stoicescu. From a metrics perspective, this decentralized conference was a success: over 60 leads (grant leads, partnerships, referrals) were generated, over a dozen side events were attended, and two thought leadership opportunities were seized.
The W3DC: Dreamworld event had Francisco on a panel called Building Web3 Products for Real Humans, in which he pitched in on the real-world usage of Request Network, alongside industry leaders representatives such as Consensys, Superfluid, Yearn, and UXly.
The Decentralized Scaling Summit presented itself as an opportunity to deliver a presentation regarding financial reputation – what it is, how to build it, and what it enables. You can watch the recording here.
Strategy and Q&A Discord presentation
The Request Network community was invited to send their questions through a form so the team could host a Q&A session on the Discord server. We evaluated the opportunity and decided to also present the strategy for 2024 – what areas of the protocol we’ll focus on and what we plan to do to grow the ecosystem we’re building. Over a dozen questions were answered, and if you’re curious about what they were, check out the recording here.
REQ token burn
We performed a token burn worth $1850, with 20,658 REQ tokens sent to the burn address. This brings the total number of tokens burned to 318,244, according to the Req.Network dashboard.
Protocol usage in November
Request Network transactions (i.e., creation, approvals, and/or rejections of invoices) are illustrated in the above visual.
November 2023 has seen 9675 batched transactions on Request Network. The number of individual transactions was 17267. 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. Come and be a part of tomorrow’s financial revolution!
