TL;DR
- Ripple has awarded $1.3 million through XRPL Grants to 22 projects across Web3 sectors like GameFi, DeFi, and NFTs, with recipients selected by a global expert panel.
- Key projects include EVM Finance, DeXfi, and ChatXRP, with funding ranging from under $10,000 to over $100,000, supporting Ripple’s global expansion.
- In other news, Ripple is advancing in its SEC lawsuit, and XRP experiences significant whale activity, along with its relisting on the CEX.io exchange.
Ripple’s developer arm has unveiled the recipients of XRPL Grants Wave 6 and is granting $1.3 million to support 22 projects from 13 countries leveraging XRP Ledger (XRPL).
The recipients showcased a lineup of groundbreaking projects spanning various sectors within the Web3 realm, including GameFi, DeFi, NFTs, developer tooling, and more. Each project was reviewed by a global panel of judges with vast expertise in these areas.
According to the announcement, the next wave of applications will reopen in 2024.
This investment in new projects aligns with XRPL’s strategy to enhance its future potential. Similarly, Xahau, the first XRPL’s smart contract layer, is on the horizon with ongoing upgrades, so the sidechain will likely benefit the XRPL ecosystem as the next wave of projects joins in.
The Most Important Projects in XRPL
Among the notable recipients were DeFi solutions working towards making Web3 and DeFi more accessible in terms of user experience and simplicity. Among these is EVM Finance, a unified interface for DeFi, essentially a hub for asset management, trading, transactions, and NFT launches.
Another awardee, DeXfi, positioned itself as another DeFi one-stop-shop on the XRPL, providing users with similar options and features. Meanwhile, Chris Winkler, the brain behind DeXfi, secured funding of $50,000 to propel the project forward.
ChatXRP stood out as the sole recipient in the AI space, receiving an award of $75,000. Functioning as a stress-free gateway to Web 3.0 services, ChatXRP simplifies XRPL interactions through its user-friendly interface.
In the education sector, EpicTask was recognized, while sustainability-focused projects EUA Carbon Token and Meta-Carbon also made the list of awardees. These projects highlight XRPL’s commitment to fostering innovation across various domains.
The financial support ranges from microgrant funding for seven projects in the lowest tier —below $10,000— to substantial funding exceeding $100,000 for six projects. Moreover, 55% of the awardees are based outside of the US. This aligns with Ripple’s decision to expand overseas as the company’s executive considers other jurisdictions more crypto-friendly.
Important Ripple and XRP Developments
Ripple is currently progressing in its SEC lawsuit by winning significant partial court victories. Meanwhile, XRP has witnessed considerable whale activity as XRP whales moved dozens of millions last week. Moreover, XR¨has been relisted in a major cryptocurrency exchange, CEX.io, becoming the latest firm to do so.