A windfall for developers – Developers wishing to enrich the XRP ecosystem with new projects will be able to benefit from a subsidy program which started in 2021, and which has just been financially reinforced by Ripple.
1 billion XRP to develop the Ripple ecosystem
Ripple plans to distribute one billion XRP in developer grantsas an extension of the XRPL Grants program launched in 2021. This grant serves as an incentive for the development of projects open source built on the XRP ledger.
Technical innovation remains one of the main growth drivers for Ripple, which has strengthened its presence in the Asia-Pacific region thanks to RippleNet, its remittance technology based on the XRP ledger. RippleNet has partnered with hundreds of banks to build its own payment network.
This new grant will be rolled out over the next decade. The first two waves of this financial support will be dedicated to non-fungible tokens (NFTs) and “federated sidechains”. The third wave will focus on integrating open-source projects on the XRP ledger.
Ripple continues to develop its XRP-based cross-border transfer solution, but its legal issues, with a lawsuit against the US SEC still pending, are not slowing it down from a technical standpoint.
Ripple intends at all costs to achieve its ambitions in the field of cross-border transfers. The Clearing House, Ripple’s partner company, would thus be in talks with the financial giant Wells Fargo, in order to develop an alternative to SWIFT.
Developer grants are a classic tool in the cryptosphere to develop a project. From 2017, Zcash (ZEC) had offered $80,000 to the actors who would help in the development of its ecosystem. 5 years later, the amounts have changed a lot, but the practices remain the same.
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