Announcing Request Network Connector
- Launch of Request Network Connector, an initiative to connect siloed financial systems under web3 principles
- Series of campaigns promoting use cases of Request Network protocol
- Use cases on invoice factoring, on-chain credit reputation, DAO tools, e-commerce, and more
- Allocated a budget of $750k for builders and content creators
- Projects offered instant access to Request Network ecosystem
Web3 allows us to create a financial system that is inclusive and has a lower barrier to entry than the existing one.
While traditional finance operates in silos and favors a capitalistic approach, the open system of DeFi promotes an interconnected network of participants.
At Request, we strongly believe that DeFi will outpace, replace and out-innovate the incumbent players and platforms in the coming years.
There is lots of work to be done to make real time accounting and finance an everyday reality for businesses. But an unstoppable wave is building and swelling.
That’s why today, we’re thrilled to announce the launch of Request Network Connector, an initiative to connect the siloed financial system together. The objective will be to showcase use cases of the protocol and allow high potential projects to incorporate decentralized payment flows.
Achieving interoperability one use case at a time
So far, the main builder on the protocol is Request Finance, an application that allows web3 businesses manage their crypto invoicing, payroll and expenses.
Built on top of the Ethereum blockchain, Request Network is the core layer that allows for automatic payment detection and reconciliation. Through financial services around invoicing, payroll and expenses, Request Finance represents only 1 application, and so far, limited potential of the capabilities of the protocol.
To achieve our mission in the coming months, Request Network will set out to promote the most attractive use cases of the protocol and showcase financial services under the principles of immutability, composability and real time accounting.
Some of the financial services and applications will include invoice factoring, on-chain credit reputation, DAO tools, e-commerce, payments processor and many more.
Request Network Connector is a series of campaigns set to tackle one financial service or application at a time, whereby each campaign takes place over a period of 2 months.
Next, let’s go through how campaigns over the next months will work.
How does Request Network Connector Work?
The approach to rolling a campaign is trifold. We start by elaborating the technical feasibility of a financial service and application with the protocol, next we identify possible projects based on product usefulness and ecosystem impact and finally push our marketing efforts to showcase the use case to the web3 ecosystem at large.
To this end, our grants program will run simultaneously alongside the campaigns whereby projects working on campaign use cases will be eligible to apply for project grants. (Note: A campaign on a specific use case does not restrict application from other builders working on different ideas for the protocol)
The foundation has budgeted an amount of $750k, payable in REQ tokens over the upcoming months, to be allocated to the community of builders and content creators. An amount of $600k has been estimated for project grants for projects integrating the protocol. The remaining $150k will be allocated to our community for such tasks on upgrading the protocol and other content creators showcasing the capabilities of the protocol.
To celebrate each campaign use case within our ecosystem, we shall also be running community contests to enable anyone to use their knowledge and opinions of DeFi to win REQ tokens. Stay tuned on our Discord.
By building on the protocol, projects also get access and visibility to the Request ecosystem consisting of DeFi, metaverse, exchanges, web3 startups. Further we offer the possibility to connect your project to renowned angel investors and VCs in the web3 space.
Connect your project to real time finance with Request
We’re very excited to be unveiling our first campaign with our community , and have your project take part in the inclusive real time finance era. Let’s join our collective forces and connect the siloed financial system together.
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