The launch of Wave 7 of XRPL Grants is here, inviting all innovators and builders within the XRP Ledger (XRPL) community to seize this opportunity to build on rock solid foundations. The latest Wave of the XRPL Grants program comes with an exciting call for proposals for projects that revolve around two dynamic themes: Decentralized Exchange (DEX) and Financial Inclusion.
Applications are open from August 31 - October 1, 2023, 11:59pm Pacific Time at xrplgrants.org.
As we embark on Wave 7 of XRPL Grants, we want to ensure that applicants utilize the tangible support on offer to build with confidence. XRPL Grants offers an important opportunity for innovators to shape the future of decentralized finance. With over a decade of proven performance and resolute community backing, we’re inviting applicants to build on rock solid foundations. Read on to learn about the details and opportunities that Wave 7 holds, and how you can be a part of this exciting journey.
Wave 7 revolves around two transformative themes that align with the XRPL’s potential to reshape the financial landscape:
Decentralized Exchange (DEX)
Immerse yourself in the world of decentralized exchanges or DEXs, innovatively crafted on the XRPL. These exchanges facilitate direct, peer-to-peer trading, obliterating the need for intermediaries or centralized control to manage fund transfers and custody.
Prospective DEXs on the XRPL will take trading to new heights, seamlessly matching buy and sell orders with continuous efficiency. This approach not only extends accessibility to a wide array of digital assets but also empowers individuals with unprecedented control over their investments. The transparent and trustless nature of DEXs holds the promise of slashing costs and barriers, democratizing financial services, and fostering extensive participation in decentralized finance (DeFi).
The XRPL, with its high scalability and rapid transaction speeds, is primed for constructing a responsive and agile DEX. Furthermore, its distinctive consensus mechanism and canonical transaction order minimize risks related to front-running and MEV attacks.
The envisaged proposal of an automated market maker (AMM) protocol introduces substantial potential for amplifying the reach of a DEX on the XRPL. Trades on the XRPL will be automatically allocated through the existing central limit order book (CLOB) or the AMM, based on the most favorable pricing, effectively marrying the strengths of both technologies. XRPL Grants seeks projects that elevate the user experience for DEX traders and liquidity providers while addressing existing gaps within the XRPL DeFi ecosystem.
DEX Use Cases:
- DEX liquidity management tools
- Trading portfolio management apps
- Continuous Auction mechanism tool
- Governance tools
- Yield platforms and aggregators
- Cross-chain DEX aggregators
- Cross-chain Liquidity Pool Aggregators/Platforms
- Real world asset (RWA) inclusive DeFi apps
- DeFi/Trading integrated wallets
- Financial applications using core XRPL capabilities
- Token screening/due diligence platforms
- Liquidity pool fee calculators
- Slippage Optimization Tool
- Data and Indexing
- Price Discovery
Financial inclusion stands on the premise that every individual worldwide should have access to affordable, fundamental financial services. Astonishingly, about 1.4 billion adults remain unbanked globally. Devoid of essential services such as savings accounts, insurance, swift payments, loans, and credit. In developing economies a mere 71% of adults possess accounts, and women often find themselves excluded from these transformative financial systems.
Furthermore, nearly 1 billion adults grapple with limited access to vital financial services offered by global financial institutions. The costs associated with these services are frequently exorbitant, which has been particularly evident in remittances, loans, and SME cross-border payments. This hampers not just individual growth but also impedes the economic prospects of businesses, communities, and regions.
Despite these challenges, strides have been made towards broadening financial inclusion in recent years, with the surge in digital financial services and applications playing a pivotal role.
XRPL Grants beckons projects that act as catalysts for the acceleration of financial inclusion through Web3 innovations, like decentralized finance (DeFi). These endeavours aim to transcend conventional financial systems, break boundaries and extend economic participation, opportunity, and resilience to billions of underbanked and unbanked individuals.
Financial Inclusion Use Cases
- Decentralized Finance (DeFi)
- Regenerative Finance (ReFi)
- Asset management and digital wallets for underbanked users
- Reducing costs of remittances
- Increasing access to credit for underbanked users
- Humanitarian aid delivery and management
- Bond and other financial asset tokenization
- Climate resilience
The XRP Ledger offers unparalleled advantages for both DEX and Financial Inclusion projects. With native features such as DEX functionality, trustlines, escrow, and its remarkable transaction speed and energy efficiency, the XRPL is the perfect playground for groundbreaking ideas.
Applicants can anticipate a multi-stage review process that ensures careful evaluation and selection of projects that align with the spirit of XRPL Grants:
|Review Phase 1||OCT 2023||Application and technical screenings to ensure the project meets general eligibility requirements in the spirit of the XRPL Grants program.|
|Review Phase 2||NOV 2023||In-depth review by the XRPL Grants Judging Committee to determine finalists.|
|Finalist Interviews||NOV 2023||Finalists will engage in 30-minute interviews with members of the XRPL Grants Team and Judging Committee.|
|Awardee Selection||DEC 2023 - JAN 2024||Awarded projects will be notified and publicly announced.|
For those eager to find out more about the XRPL Grants and the opportunities it presents, two live information sessions are available on Zoom:
- Financial Inclusion Focused Info Session: Tuesday, September 5, 1pm PT (20:00 UTC) (Registration Link)
- Decentralized Exchange (DEX) Focused Info Session: Wednesday, September 6, 8am PT (15:00 UTC) (Registration link)
If you’re enthusiastic about building innovative solutions that align with the DEX and Financial Inclusion themes, the invitation is open for you to take part in Wave 7 of XRPL Grants. Your ideas could drive transformative change within the XRPL community and beyond. Stay tuned for updates and details about the application opening in late August 2023.
For more information and updates, visit xrplgrants.org and keep an eye out for the official call for proposals. The XRPL Grants program is dedicated to supporting innovation, diversity, and excellence - your project could be the next game-changer on the XRPL!
Join this exciting journey and shape the future of finance on the XRP Ledger.