Request

What is Request?

The Request Network functions as a protocol designed to store payment requests, addressing a fundamental issue within blockchain transactions—the lack of context surrounding the reasons for these transactions. Beyond resolving this central challenge, its objectives include dismantling financial data silos, empowering individuals to own their financial data, and facilitating unprecedented use cases.

The Request Protocol serves as a repository for the information essential for businesses to conduct their financial operations on the blockchain while upholding standards of compliance and privacy. By validating financial activities on the blockchain, companies gain access to distinctive opportunities such as acquiring income-backed services like loans, insurance, or fundraising. Additionally, this approach sets the stage for automated auditing, triple-entry accounting, and automatic tax reporting.

Users securely share payment requests through a standardized, immutable storage medium. This mechanism fosters a global cooperative financial system wherein individuals and organizations exercise complete control over their financial data and decision-making processes.

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Recent Video Interview

Main points of the interview:

• Journey from CFO at 22 to founding Request Finance, specializing in blockchain-based payment solutions.
• Request processed over $500 million in crypto payments in 2023.
• Request aimed to streamline cross-border transactions while ensuring transparency and security.
• The importance of resilience, customer-centricity, and leveraging industry insights to drive innovation in fintech.

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Request's Features

Request offers a wide range of benefits:

• Ownership: Develop Web3 solutions that prioritize default financial data ownership and offer selective sharing options for your users.
• Compliance: Ensure regulatory adherence by immutably inscribing transaction contextual data on the blockchain.
• Traceability: Facilitate the creation of products that support sourcing and provide proof of origination for intermediary steps.
• Reconciliation: Efficiently streamline the resolution of payment requests versus payment settlements through automated processes.
• Network: Take advantage of an ecosystem of financial builders, eliminating the need to build everything from scratch.
• Disruption: Lead the way in pioneering unprecedented Web3 innovations such as triple-entry accounting, income-backed lending, and automated tax reporting.

Use Cases

The first use case of Request is for invoice, including services such as Mobile Invoicing, Streamed (gradual) invoice payments, Recurring/automatic payments for expenses or invoices, Import invoices, Export invoices... Request offers secure, fast, and easy invoice issuance. Users can opt for either public or private invoices, and the system allows for seamless access to proofs and receipts associated with paid or unpaid invoices. Additionally, users have the flexibility to selectively share their financial data with third parties, such as for risk assessment, lending, insurance, etc. Moreover, the protocol provides access to data from payment services on Request Network, depending on the end user's preferences.

Secondly, Request Network protocol offers straightforward payments within and beyond the network. Users gain access to infrastructure supporting payment-associated invoices and have the ability to selectively share financial information for purposes like tax reporting, reputation management, risk assessment, lending, and more. The protocol ensures the immutability of records by storing them on the blockchain. Additional services you can offer: Escrow, , Web3 Chat Integration, On-ramp - Off-ramp, Cash-on-Delivery...

The Request Network protocol provides access to authentic data from actual users documented within the network, creating uses for income-backed lending. It taps into a blue ocean market, leveraging emerging opportunities in the web3 space for these types of loans. The protocol incorporates a mechanism to actively mitigate default risks in real-time, utilizing near real-time data for enhanced risk management.

Request Team Background and Partners

The individuals behind Request are Christophe Lassuyt and Etienne Tatur. Currently serving as the primary community manager at Request, Christophe Lassuyt brings valuable experience as a Ycombinator Alumni and has been an entrepreneur in the crypto and web3 sectors for over eight years. Etienne Tatur holds the role of Chief Technical Officer at Request. With a background that includes participation in Ycombinator Winter 2017, he has been actively involved in creating projects within the web3 industry since 2014.

Current partners of Request are Uptech, RareSkills, and 42 Kuala Lumpur Education Group. Beyond these, many famous crypto projects use products that were built on the Request network, namely Maker, Aave, The Graph, Near, Gnosis, and The Sandbox.

Request Project Development

In a notable development, Request Finance expresses gratitude to the ecosystem builders for their contribution to the addition of five new deployments and the migration of two existing deployments of the payments subgraph to TheGraph Arbitrum-based decentralized network.

The added chains on TheGraph decentralized network include Matic, Arbitrum-One, Avalanche, Fantom, and Celo. Concurrently, certain chains were migrated from the now deprecated Ethereum-based decentralized network to the more recent Arbitrum-based decentralized network, as detailed in the Arbitrum announcement. These modified chains encompass Gnosis and Mainnet (Ethereum).

Request Price Analysis

As of November 24 2024 Request has a marketcap of $86M. This is {{percentagefromath}} from its all time high of $1.059. In terms of its tokenomics, there's a total supply of 1B with 77% currently outstanding. Keep in mind Request has a fully diluted value of $112M which many investors might interpret as overvalued.

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.