Request Ecosystem Update April 2023
Greetings, Request Network community!
Welcome to the Request Network ecosystem update for April 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, network usage, and anything else that is of interest to the community.
Request Finance is the first successful application built on the Request Network protocol to generate, track and pay invoices, serving more than 2,000 companies, DAOs, freelancers, and web3 native projects such as The Sandbox, Aave, and The Graph. If you’re interested in integrating Request Finance, then check out their monthly update ‘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.
Grants Program Refresh
We’re excited to let everyone know that the Request Network grants program has gone through a detailed refresh and we’re now eager more than ever to onboard new partners to our ecosystem. The core team has spent some time to better understand and define what kind of value we can bring to the table, as well as what the potential builders can benefit from by working with us. We’ve also updated the grants application process so that it is more transparent, easier to understand, and allows for our small team to meet separately with potential builders, thus opening up more opportunities.
TL;DR We have defined new profiles for potential grantees. Grant application process updated to be more agile: 3 meetings, 2 forms, 1 (potential) grant.
For a more in-depth look at the grants program refresh, please go to the dedicated blog post.
Documentation Revamp In Progress
Keen observers may have noticed that the page order in the Request Network Documentation changed slightly this past month. This is the first step towards a larger revamp of the documentation aimed at providing a better developer experience. Don’t hesitate to reach out to us if you’ve found something in the docs that needs updating or if you have a suggestion.
Major News and Announcements
Encode x Gnosis x Request Network hackathon
If you’re a builder looking to make a difference in this industry, we’ve got a challenge for you as a partner in an ongoing hackathon hosted by Encode Club and Gnosis Chain.
You’ll have the unique opportunity to unleash your creativity and showcase your skills by integrating the Request Network protocol with Gnosis’ cutting-edge solutions for a grand prize of $3000. The challenge we propose is…drumroll… Best payment application built with Request Network! For the sake of clarity: a payment app allows a user to pay for assets, goods, or services using Request Network. This means the user creates a Request, and then immediately pays it. The Request then serves as a receipt.
Before you start reading our documentation we strongly suggest to watch the recording of the workshop that David, our blockchain engineer, hosted recently: Introduction to Building on Request Network.
Don’t miss out on this fantastic chance and apply now!
Network Usage in April 2023
Request network transactions (i.e., creation, approvals, and/or rejections of invoices) are illustrated in the above chart.
Notably, this April ended with a total of 7499 transactions and exhibited a decline of 32% in the value of network transactions compared to the previous month. Nevertheless, our comprehensive internal analysis suggests that this reduction primarily stems from minor payment delays that would typically occur in April. Consequently, we expect the data for May to reflect this spillover effect and align more closely with our anticipated levels.
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 the Request Network and build an ecosystem of financial applications together that is open source, seamless and interoperable ecosystem of financial applications.
We’re building a network that connects businesses around the world, giving them ways to do business at the speed of the internet.