Ripple Makes an Open Call for Web3 Projects Built on XRPL

Ripple has made a big announcement for developers that are building innovative Web3 financial projects on the XRPL. According to the details, the applications for XRPL Grants (Wave 6) are now open through June 18, 2023.

This upcoming wave is focused on accepting project proposals that utilize web3 technology for financial purposes on the XRP Ledger (XRPL). The application submission window is scheduled to be open from April 25th until June 18th, 2023, at 11:59 p.m. Pacific Time.

The application review process consists of several stages, and applicants can anticipate receiving notification of their project status within 6–8 weeks of submitting their application. This notification will include information regarding whether or not their application has been selected to advance to the next stage of the review process.

In the open call, the Ripple team also mentioned some of the key Features of XRPL. The XRP Ledger (XRPL) has the capacity to process up to 1,500 transactions per second and complete transactions within 3-5 seconds, all while consuming minimal energy resources. Having processed over 2.1 billion transactions since 2012 without experiencing any failures or security breaches, XRPL is equipped to handle large-scale use cases,

Additionally, the XRPL team mentioned that the grant program is looking for projects that address financial inequities and provide innovative use cases for the XRP ledger. Some of the projects that they mentioned could receive funding, including financial equity, regenerative finance, data and indexing, payments, e-commerce, tokenization, developer tools, oracles, insurance, etc.

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