Request Ecosystem Update August 2022
Hey Request community,
Welcome to the Request Network ecosystem update for August 2022.
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.
Request Finance is the first successful app/company of the Request Network ecosystem used to generate, track and pay invoices, serving more than +2,300 companies, DAOs, freelancers, and web3 native projects such as The Sandbox, Aave, and The Graph.
For a glance at how integrating with the protocol looks like, check out ‘Request Finance in numbers’, which focuses on reviewing the Request Finance application’s usage metrics, an example being the cumulative value of crypto payments made through the app.
Request Grants Program
Request Fund Investment Program was discontinued in July 2022 after a brief spell, with the overarching reason being that the submissions had little to no scope of integrating Request Network. After due deliberation, we decided to tweak our approach to onboard new builders, and instead opted for a Grants Program.
The program intends to benefit Request and its ecosystem, & encourage community members to work on projects related to developing the Request protocol. The key distinction here is that all submissions integrate the protocol, the bottom layer that defines and handles the data of a payment request.
All submissions will be vetted to determine whether the protocol’s usage is optimized, and the size of the grant will be determined based on deliverables.
The 2 types of grants are;
1. Technical Grants – Contribute to engineering projects based on the protocol or library or to protocol enhancements. This applies to both public grant programs where people apply or builders reach out when we have use cases. For technical grants, apply here.
2. Community Grants – Help the community to promote the use cases of Request Network as an interoperable payment requests solution & raise awareness around the protocol through usage, or communication materials (examples are articles, educational videos). For community grants, apply here.
The different verticals available for grants are;
- Protocol development
- Applications & Integrations
- Developer tooling
- Community (marketing, educational)
To help stimulate the community with the opportunities available within the protocol, we shall be launching builder campaigns in the upcoming weeks, with each campaign based on a specific use case.
Major News and Announcements
Are you interested in building an open, inclusive and interoperable financial future?
A Full Stack developer role, with a back end focus, has opened up for the protocol. If you’re passionate about blockchain, DeFi and want to be part of a global team that places a high emphasis on diversity and inclusion, this role might be right for you.
Network Usage – August 2022
The above chart illustrates the number of transactions with Request Network smart contracts (i.e creation of invoices, approvals, rejections) and August saw a monthly increase of 27%, totalling 9,538 transactions. The monthly activity for August is encouraging following the brief slump in the past months, and is a testament that crypto adoption is strong despite the bear market sentiment. On the other hand, the total number of REQ wallets grew to 41,177.
Also worth mentioning is the amount of adoption that Request Finance is bringing onto the blockchain. The app has registered cumulative payments of $228m, of which $8.23m in crypto invoices were paid last month in August alone (6% increase 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.
AMA with Request Team
On 22nd September, the Request team will conduct an AMA session with the community on Discord. This will be an opportunity for everyone to receive instant clarifications on any topics of their choice pertaining to Request Finance and to Request Network (However please do refrain from asking questions pertaining to the price of the REQ token).
The format of the AMA will shortly be announced.
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.
Community at Request