While the SEC is offending more and more people within the crypto industry, Ripple wants to bring XRP to open source projects after opening the doors for NFTs and federation sidechains.
Ripple has announced that it will commit 1 billion XRP to the third wave of the XRPL Grants program launched in 2021.
The fund aims to accelerate the development and new use cases of XRP Ledger (XRPL) and has so far funded more than 50 open source projects built on XRP Ledger for a total of $ 6 million. I am.
The first two waves of the XRPL Grants program focus on projects related to NFTs and Federated Sidechains, respectively, and the third wave now seeks projects focused on open source contributions.
As the SEC vs. Ripple proceedings prolong, this announcement revisits the argument in favor of the XRP utility that Judge Torres mentioned as early as March 2021.
Expert findings may help courts determine whether XRP is secure, but the SEC focuses primarily on marketing and sales approaches rather than the nature of digital assets themselves. increase.
Through the XRPL Grants program, Ripple provides financial, technical, and business support for implementing several new developer programs as part of the fund.
One billion XRP will be paid to developers over the next 10 to 20 years, allowing developers to build and extend apps from proof-of-concept to new businesses with XRP Ledger.
XRPL Grants are designed to accelerate, train, teach and expand projects developed by the XRPL community and feature specific funding focused on sustainability, diversity, DeFi, and accelerators. is.
• Accelerator Program: A multi-month boot camp that provides business and financial support, training, and mentorship for XRPL projects.
• Decentralized Finance (DeFi): A program that supports DeFi projects with XRPL.
• Diversity & Inclusion (D & I): Partnerships with institutions and affiliated groups that work with university partners to build a pipeline of diverse applicants and support undervalued communities in software development.
• Sustainability: A program to address sustainability-related challenges such as ESG NFTs and carbon credit tokenization.
• Expand Judging Committee: Expand the panel of XRPL Grant Program Jury to ensure diverse perspectives and expertise when evaluating projects.
Monica Long, GM of Ripple’s Ripple X, said: With this new extension, we are committed to long-term participation and support in the developer community.
As the community grows and the infrastructure and app ecosystem matures, we are also excited about the opportunities for RippleNet customers to benefit from the services of the community and vice versa. “
