Request Network, a cryptocurrency financial platform, recently unveiled its plans to fund new projects by allocating $30 million to a dedicated fund.
The fund will be supported over the next five years using the platform’s native Request token along with Ether.
The announcement by Request Fund explained what it dubbed as a “non-exhaustive” list of projects that will be aimed towards expanding Request Network’s functionalities and use cases. It was further elaborated that each project could either be developed by someone from the Request team or by anyone belonging to the network ecosystem called Request Hub.
According to the basic program guidelines, anyone from the Request Hub who develops one of the outlined projects will be eligible for grants by the Request Network.
The network is offering $20,000 to $100,000 for the completion of each project, with the amount being released on completing “pre-defined milestones.”
The complete list of projects is available on the announcement page, and it will keep getting updated over time. For now, some of the core projects that are being sought by the network include but are not limited to, mobile and conventional usage invoicing apps, payment processing plugins, crowdfunding apps, and tax payment functionalities.
The company has a questionnaire for interested applicants, who will then be contacted if the network wants to discuss their application further.
If you are interested but are not a part of the network’s Request Hub, then you may initiate the process by clicking here. If you are already a member of Request Hub, then you can apply for the Request Fund by clicking here.
What is request network?
Request Network is a decentralized payment platform that aims to increase the usage of cryptocurrency transactions by allowing individuals and organizations to create invoices and payment requests.
These invoices and payment requests can then be used to receive micropayments or to receive payments for business operations in cryptocurrency. The network’s objective is to simplify the process of sending and receiving cryptocurrency transactions to let these digital currencies gain mainstream attention and momentum.
The company, Request Network, does not require the payment “sender” to be cryptocurrency savvy. The invoices that are created by the network can be used just like usual online payment methods. The payment senders can, therefore, use their credit cards or preferable payment methods using any global currency, and the receiver on the Request Network obtains the payment in cryptocurrency.
The network also aims to serve as a crowdfunding platform where the payments will be processed using the same secure distributed ledger technology (DLT) to ensure transparency of the process.
To simplify the description of this platform, you may think of it as the PayPal of the cryptocurrency industry with added support, functionality and security of decentralized technology.
After launching its native platform token in late 2017, the project is currently in the process of active development and deployment. Its official communication channels are also active and post frequent updates on the project’s progress.