Open call for Web3 Financial Projects Built on the XRPL
Tags: xrpl, web3, blockchain, financeapp
Published: 2023-04-25 15:37:03

Exciting news for developers looking to create innovative web3 financial projects – the [XRPL Grants Program](http://xrplgrants.org) is launching an open call for applications for Wave 6! The focus for this wave is on projects that leverage web3 for financial use cases on the XRP Ledger (XRPL). Applications will be accepted from **April 25 - June 25, 2023 at 11:59pm Pacific Time**.

The XRPL is an ideal platform for building out new financial use cases. It is an open-source, energy-efficient, and decentralized blockchain powered by a global developer community with capabilities around tokenization, settlement, and liquidity to enable a broad array of decentralized app use cases. 

Native features to the XRPL, including [decentralized exchange (DEX)](https://dev.to/ripplexdev/xrpl-amm-network-available-for-testing-and-development-426i), trustlines, and escrow —coupled with its highly performant, low-cost architecture—provide a unique differentiation for financial use cases by delivering security, reliability, and efficiency right out of the gate. The XRPL also allows for the incorporation of [NFTs and Fungible assets for real-world asset tokenization](https://dev.to/ripplexdev/xrp-ledger-nfts-are-here-9jb). Additionally, developers can directly access XRPL functionality without needing to learn, build, and maintain complex smart contracts.

The XRPL can handle up to 1,500 transactions per second, and settles transactions in just 3-5 seconds with minimal energy costs. It supports large scale use cases, processing 2.1B+ transactions without failure or security breach since 2012. This makes it an excellent choice for developers who want to build with confidence on proven technology. 

The XRPL Grants program is looking for projects that address financial inequities, streamline traditional financial processes, and provide innovative new use cases for the XRP Ledger. The projects funded will include a combination of applications and services, tools, and middleware. Types of projects that may be funded in Wave 6 include, but are not limited to:

- Financial Equity / Inclusion
- Regenerative Finance (ReFi)
- Decentralized Finance (DeFi) - Lending & Borrowing, DEX/AMM interfaces and integrations, Asset management
- Data & Indexing
- Payments 
- E-commerce
- Merchant Tooling and Integration
- Tokenization - Regulatory Compliant Real World Assets (RWA)
- Decentralized Compliance & Security
- Interoperability - Token bridging, Cross-chain messaging, implement blockchain interoperability protocol/technology with another blockchain
- Developer Tools 
- Oracles
- Insurance 

Additionally, in Wave 6, XRPL Grants will consider applications from any innovative software development projects that are leveraging the XRP Ledger. View previously funded projects [here](https://xrplgrants.org/grantees). 

**Application Review & Awarding Process**
There are multiple stages of review; applicants can expect to be notified of their project status within 6-8 weeks after their submission, and whether or not their application will be moving forward to the next stage.

- **Review Stage 1: June/July 2023:** Application and technical screenings to ensure the project meets general eligibility requirements in the spirit of the XRPL Grants program.
- **Review Stage 2: August 2023**: In-depth review by the XRPL Grants Judging Committee to determine finalists.
- **Finalist Interviews: August 2023**: 30-minute interview with members of the XRPL Grants Team and Judging Committee.
- **Awarding: Sept 2023**: Awarded projects will be notified and publicly announced.

**Info Sessions**
We invite anyone interested in learning more about XRPL Grants to attend a live information session:

- **Zoom Info Session**: Wednesday, May 10, 8am PT ([Register to Attend](https://ripple.zoom.us/webinar/register/5016757846219/WN_j9Q2gLTKRfWk5O_3u_lTHA))
- **Zoom Info Session**: Wednesday, May 24, 4pm PT ([Register to Attend](https://ripple.zoom.us/webinar/register/4516757848246/WN_sAKnVGP8QUOqx_QxX2N1LA))

**Apply Now**
Apply to Wave 6 at [xrplgrants.org](https://xrplgrants.org/).

Have additional questions? Check out the FAQ page and join the [XRPL Developers Discord](https://discord.gg/sfX3ERAMjH)!