Ripple developers are flush thanks to an XRP grant. Covered: Ripple Extends Grant Program Ripples Goals For Developers Wells Fargo, Ripple, and SWIFT? Ripple Extends Grant Program By Advocating 1B XRP Today, Ripple announced that they will be committing 1 billion XRP in an extension to their XRPL grants program. ??Today, @Ripple is committing 1B […] The post Ripple Is Giving A Massive Amount Of XRP To Developers appeared first on CryptosRus.

Ripple Is Giving A Massive Amount Of XRP To Developers

Ripple developers are flush thanks to an XRP grant.

Covered:

  • Ripple Extends Grant Program
  • Ripples Goals For Developers
  • Wells Fargo, Ripple, and SWIFT?

Ripple Extends Grant Program By Advocating 1B XRP

Today, Ripple announced that they will be committing 1 billion XRP in an extension to their XRPL grants program.

The XRPL grants program is targeted at developers who aim to support open-source ecosystem development on the XRP ledger. Currently, applications for their Wave 3 grant programs are being accepted, and their announcement today adds to the grant pool for this wave and future waves of funding.

It’s interesting to note that at XRP’s current price, the grant extension is worth an astonishing $792 million. Although they plan to award these funds over the next 10-20 years, I doubt they will supply developers even 10 % of the available XRP this funding round. However, it shows that Ripple is committed to continuing to bring on top tier developers to their project. So far, over the past two waves of this funding program, Ripple has awarded a total of $6 million to over 50 projects.

Recommended: Big Development in the Ripple (XRP) Case

Ripples Goals For Developers

The original Wave 3 grant program was vague, with the official them being “Contributing to Open Source”. But with the announcement of this extension, Ripple has some more specific goals in mind for future developers:

  • Accelerator program: A multi-month bootcamp that will provide projects on the XRPL with business and financial support, training, and mentorship.
  • Decentralized finance (DeFi): A program to support DeFi projects on the XRPL.
  • Diversity & Inclusion (D&I): A fund to work with university partners to build a pipeline of diverse applicants, as well as partnerships with organizations and affiliation groups supporting underrepresented communities in software development.
  • Sustainability: A program to address challenges related to sustainability, e.g. ESG, NFTs, carbon credits tokenization.
  • Expanded judging committee: Growing the panel of XRPL Grants program judges ??to ensure diverse viewpoints and expertise when evaluating projects

The most notable on the above list is their inspiration to support DeFi projects. Ripple recognizes that they are behind the curve in the DeFi department, and they are looking to change that by allocating XRP for grant funding.

Wells Fargo, Ripple, and SWIFT?

Although Ripple has been involved in an ongoing lawsuit, they are still managing to move their project forward outside of the US. Specifically, Ripple’s remittance technology (where foreigners can send XRP back to their home country) has been quite popular over the past few years because of its lower costs and instantaneous transfers when compared to traditional payment methods. It’s been kind of a big deal. A good example of how important Ripple has been to remittance is that it’s estimated that 10% remittance from the United States to Mexico is currently done with XRP.

Recently, Ripple’s partner Clearing House announced that they were developing ideas with Wells Fargo to develop a SWIFT alternative. It’s speculated that Ripple could be involved:

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