Request Ecosystem Update April 2022

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Hey Request community,

The Request Network ecosystem update for April 2022 is here, complementary to the ‘Request Finance in numbers’.

Request Network 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 update, major news and announcements, network usage and community events.

On the other hand, ‘Request Finance in numbers’ focuses on reviewing the Request Finance application’s usage metrics, an example being the cumulative value of crypto payments made through the app. Request Finance is the first successful app/company of the Request Network ecosystem used to generate, track and pay invoices, serving more than +1900 companies, DAOs, freelancers, and web3 native projects such as The Sandbox, Aave, and The Graph.

Major News and Announcements

REQ on WhiteBit & Bitpanda

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REQ has been listed on whiteBIT in April, and you can now trade REQ on the $REQ/$USDT & $REQ/$BTC pairs.

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REQ has also been listed on the normal Bitpanda App. There are no classic trading pairs and users can directly buy REQ with their preferred payment method.

REQ is available for trade also on Coinbase, Binance, Crypto.com, Bancor, Uniswap. Check out the full list on where to get REQ here.

Request joins CryptoUK Community

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Request joined CryptoUK in April to bring more guidance on invoicing for cryptocurrencies, as the British government announces that the UK wants to recognize stablecoins as a valid form of payment. CryptoUK is the UK’s self-regulatory trade association representing the cryptoasset sector. As the industry leader for crypto invoicing, we intend to work together and bring our thought leadership to further their mission to help educate regulators about the cryptoasset industry.

Merch Store

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You can now shop for a wide range of Request merchandise from anywhere in the world. From clothing, accessories, water bottles, you will now be proud to showcase to the world your support and early adoption of Request. Even your dogs are in fashion with the Request bandana, and can join in the fun.

(All orders, complaints, returns, shipping, etc are handled independently by the 3rd party website and partner)

Network Usage – New ATH in April 2022

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The above chart illustrates the number of transactions with Request Network smart contracts (i.e creation of invoices, approvals, rejections) and April saw a monthly increase of 65%, and reached an all time high with 9,552 transactions. On the other hand, the total number of REQ wallets grew to 40,369, representing an increase of 0.2% from March 2022.

Also worth mentioning is the amount of adoption that Request Finance is bringing onto the blockchain. The app has registered cumulative payments of $200m, of which $8.3m in crypto invoices were paid last month in April alone (small decrease of 7% from previous month)

Check out the app here, if you’re interested in having an all-in-one platform to generate, track and pay crypto invoices.

Community events

Twitter Spaces

In April, we continued with our Twitter Spaces session where we discussed;

(i) DeFi for Institutions with Cronos Chain and Qredo

(ii) Stablecoins Adoption with Maker DAO and Frax Finance

The aim of these sessions for the Request Foundation is to have more people understand and embrace Web3, and build an educated community.

Speaking about DeFi for Institutions, Ken Timsit pointed out that before touching pension firms or more risk averse types of investors, when brands like Nike, Adidas and other fashion brands start issuing NFTs and generate revenue in crypto, they will need to invest that crypto and not convert it to cash right away. So adoption for institutions will also come through NFTs, gaming and not solely financial actors investing in cryptocurrencies.

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The topic for the next session on Twitter Spaces will be on ‘DAO Accounting’, to be held on 5th May at 5pm GMT, with guest speakers from Cryptio, Utopia Labs & Polywrap.

About Request Network

The Request 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 the Request Network and build an ecosystem of financial applications together that is open source, seamless and interoperable.

We’re building a network that connects businesses around the world, giving them ways to make business at the speed of the internet.

Website | Blog | Twitter | Linkedin | Discord | Github

 

🖖
Umar
Community at Request