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Celebrating Wave 6 Awardees of the XRPL Grants Program
November 17, 2023
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We’re thrilled to share the awardees of XRPL Grants Wave 6, focusing on groundbreaking Web3 financial projects on the XRP Ledger (XRPL).

The response to the Wave 6 call for applications was remarkable, with 129 submissions from all over the world. After a comprehensive review process, we’re proud to support a total of 22 outstanding projects from 13 countries, resulting in a total funding amount of $1.3 million.

Each project was reviewed through a comprehensive judging process, and assessed by technical experts as well a global panel of judges from across academia, Web3, DeFi, Sustainability and other areas of expertise.

These awardees cover 14 distinct financial use cases, demonstrating the diverse applications of the XRP Ledger in the realm of decentralized finance, while 8 awardees mark an array of different innovative efforts that sees projects focusing on Developer Tooling, NFTs, Education, GameFi and Sustainability.

Learn more about the specific use case below and explore the full roster of Wave 6 awardees on the XRPL Grants website.

Interested in applying for funding for XRPL Grants? The next wave of applications will open in 2024! Subscribe for the newsletter to receive the latest updates at xrplgrants.org.

DeFi Projects

DeXfi - The DeFi one-stop-shop
The ultimate DeFi one-stop-shop on the XRPL! Seamlessly trade, swap, provide liquidity on a single platform. DeXfi is led by an individual developer, Chris Winkler, who is based in Austria. He has received $50,000 in funding to help support the important progress has made so far. Learn about the project via their website.

EVM.Finance
EVM.Finance solves the issue of fragmentation, providing a single hub for balances, transactions, DeFi interfaces with token metrics, and provides a terminal to support orders into the XRPL and access all information needed for investors and traders.

The team is based in the US and are led by Alexander Barry, John Barry, Maks Zhakun. Find out more about the innovative open source project through Github.

FLUIDEFI InstiLink
By providing a user-friendly suite of tools, InstiLink bridges the gap between traditional institutions and the world of blockchain. The team are based in Canada and are led by Louis Sirico, Lisa Loud, Fabian Kroll.

They have received $100,000 in funding as they aim to move forward with their efforts toward institutional adoption. Learn more about the exciting project via their website.

REDIMI - XRP Passport
XRP Passport aims to build a decentralized digital identity solution that empowers individuals to control their own identities while streamlining identity verification processes for decentralized finance (DeFi) applications & services.

There is a broad team based in Germany that consists of: Pierre Taner Kirisci, Zohaib Shahzad, Asad Khalid, Aleks Boskovski, Nadine Kamal, Abdul Samad. The project has received $100,000 in funding and you can learn more about their aims to build a decentralized digital identity on the project website.

VNX Stablecoins on the XRPL
VNX Commodities is Europe's first regulated tokenization platform and stablecoin issuer. The project is headed up by Wazen Shbair, Eugene Gavrilov who are based in Luxembourg. The project has received $100,000 in funding and you can learn more about the progress made via the project website.

Wolfram XRPL Exchange Data Infrastructure
Wolfram Blockchain Labs’ (WBL) provides real-time data aggregation services from a wide range of CEXs and DEXs.

The broader team is based in the US and consists of: Steph Macurdy, Gabriela Guerra, Jon Woodard, Maksym Kotov, Daniel Suarez, Johan Veerman, Karla Santana, Piero Sanchez, Alec Macher. The project has received $50,000 in funding and you can learn more about the team’s progress on the project website.

AI Projects

ChatXRP
ChatXRP transforms XRPL interaction, providing seamless access to Web3 services through a simple interface. Lead team member Chris Kuehl, based in the US, saw his project receive $75,000 in support. You can learn more about the project via their X account.

Education

EpicTask
The EpicTask Web3 platform combines a financial education learning environment with a seamless and efficient payment system.

The is led by Randy Nolden and based in the US. They have received $10,000 for their important efforts to educate the broader community. Learn about the project via their website.

Sustainability

EUA Carbon Token
Tokenized EU Carbon Allowances that allow retail investors to participate in the huge EU regulatory carbon markets. XRPL will provide the underlying stability mechanisms to create a token and allow it to track the real-world price of carbon.

The team, who are based in the UK is led by Gulliver Smithers, David McKie and Thomas Barker. They have received $50,000 in funding and you can lean more about their aims via their website.

Meta-Carbon
Meta Carbon's emissions tokenization tools allow companies to measure their carbon footprint and immutably store it online allowing for comparison over time as to how it is performing against its commitments to decarbonize.

The team is based in the US and is led by Tom Herman, Mark David, Andy Steward. They have received $150,000 in funding to help realize their ambitious goals.

Developer Tooling Projects

Indicator Success Rate (ISR)
ISR is a RESTful API platform equipped with integrated XRPL wallets and XUMM authentication. It offers an array of cryptocurrency trading indicators, delivering invaluable insights to traders to augment their trading strategies.

The team is led by Mario Stumpo, Gilles Chemla, Ilaria Morelli who are based in Poland. They have received $10,000 in funding and you can learn more about their efforts on their website.

Quidli - Integration of the XRPL & CRP
Quidli is a social middle layer between web3 assets and Web 2.0 collaboration apps for users to build token reward flows directly into the apps they use to digitally collaborate, starting with Discord and Slack.

The team is led by Luke Vignal, Guillaume Figielski, Justin Ahn and is based in France. They have received $10,000 in funding and you can learn more about their efforts via the project website.

Social Impact

MedLedger
MedLedger, aims to create a groundbreaking platform that merges Fast Healthcare Interoperability Resources (FHIR) standards with the XRP Ledger's (XRPL) secure and efficient blockchain technology.

The project is headed by an individual developer, Tushar Pardhe, from India. Tushar has received a $10,000 grant as he continues his work. Learn about his open source project on Github.

Tugela
Tugela is the AI-powered talent liquidity pool connecting African freelancers to the global economy. Leveraging XRP Ledger (XRPL) technology and the Interledger Protocol (ILP), Tugela enables frictionless cross-border payments, a store of value, and a gig matching engine built with Generative AI.

The team is based in Ghana and consists of Jeremy Banning, Sally-Anne Amakye, Kwame Frimpong Darkwa, Frederick Ankamah, Thokozani Mabena, Maya Diana Danquah. The team has received $50,000 in funding and you can learn more about the open source project on their website.

GameFi & NFT Projects

Ap0cene Phygital NFTs
Ap0cene Phygital NFTs allow you to create Web3 enabled garments and accessories for the future of phygital fashion e-commerce.

The team consisting of Sam Walker, Ariel Arakas, Andrew Fenlon, Ryan Beck are based in the US and received $75,000 in funding. The project is indeed open source and you can learn a great deal more about it on Github.

XRPL AI Signals by Liisa
Liisa helps NFT investors by analyzing the multifaceted landscape of NFT projects, considering both quantitative and qualitative factors like on-chain transactions, social activity, and NFT utilities.

The team is based in Portugal and consists of: Bernardo Silva, Paulo Peixoto, Kerim Tümkaya, Alexandre Collignon, Guilherme Leitão. The project has received $25,000 in funding and you can learn more about the team’s progress on the project website.

Nexus - Unity Toolkit
Nexus is an open-source toolkit that connects the Unity Game Engine and the XRP Ledger. By providing seamless XRPL wallet logins, real-time NFT generation, NFToken reconstitution, and advanced in-game transaction systems, Nexus empowers developers to create immersive gaming experiences with integrated blockchain technology.

The team is based in the US and led by Lawrence Plante, Jake Burkhalter, Kyle LeMaster, Derek Blasko. The project has received $150,000 in funding and you can learn more about the open source project on Github.

The Shillverse
The Shillverse is a Play2Mint NFT game on the XRPL. It provides a mix of classic idle and passive gameplay features, and has a Unity game in development.

The project is led by an individual developer, Steve Dodd, who is based in Australia. Steve’s project has so far received $10,000 in funding and you can learn about his progress on the project website.

XRPL4GD
An open source XRPL plugin that will extend the capabilities of the Godot engine. Game developers will be empowered to easily integrate core XRPL features into their games across a selection of different wallets.

The team is led by Jackson Sardello, Hudson Craft, Andrew Laitinen and is based in the US. They have received $50,000 in funding and you can learn more about the open source project via Github.

UniversalNFT.dev
The team describes the project as ‘one universal XRPL NFT format to rule them all.’ Automatic read-only translation from any popular existing NFT format/standard into Universal NFT.

The project is led by Jacob Pretorius who is based in the UK. The project has received $50,000 in funding and you can learn more about what it is building via the project website.

Zerpmon
Zerpmon is an engaging creature collecting game that leverages XRPL-based NFTs and tokens to enrich gameplay, ownership, and rewards for players.

The team is based in Australia and is led by Shen Morincome, Daniel Byers, Chris Lindmark, Steven Huling, Abdul Moin Khan. The grant sees the project pick up $25,000 in funding and you can learn about their progress on the project website.

Other

XRP for Salesforce
XRP for Salesforce is an open source data mapping layer from the XRPL to Salesforce. In addition to the open source Salesforce project, it includes relevant configuration of related Webhooks and any relevant JavaScript code to support the integration between XRPL and XRP for Salesforce.

Based in the US, the team is led by Zoe Braiterman, Alex Hochberger, Patryk Ustymczuk, Michal Bedliński. The project has received $100,000 in funding as they aim to transform the landscape of E-commerce. Find out more about the project and team on their website.

Diverse Innovators

Among the projects we see a diverse range of leaders and innovators with four of the funded projects led by women or non-binary individuals. This highlights a commitment to fostering inclusivity, and diverse perspectives within the XRPL ecosystem.

The financial backing provided includes microgrant funding for seven projects in the lowest tier ($10,000 or below) and substantial funding exceeding $100,000 for six projects. Notably, 55% of the awardees are based outside of the US, emphasizing the global reach and impact of the XRPL community.

These awardee statistics underscore the XRPL Grants Program’s dedication to supporting projects that address financial inequities, streamline traditional financial processes, and introduce innovative use cases for the XRP Ledger.

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Musk Turns On Starlink to Save Iranians from Regime’s Internet Crackdown

Elon Musk, the world’s richest man and a visionary behind SpaceX, has flipped the switch on Starlink, delivering internet to Iranians amid a brutal regime crackdown.

This move comes on the heels of Israeli strikes targeting Iran’s nuclear facilities, as the Islamic Republic cuts off online access.

The former Department of Government Efficiency chief activated Starlink satellite internet service for Iranians on Saturday following the Islamic Republic's decision to impose nationwide internet restrictions.

As the Jerusalem Post reports, that the Islamic Republic’s Communications Ministry announced the move, stating, "In view of the special conditions of the country, temporary restrictions have been imposed on the country’s internet."

This action followed a series of Israeli attacks on Iranian targets.

Starlink, a SpaceX-developed satellite constellation, provides high-speed internet to regions with limited connectivity, such as remote areas or conflict zones.

Elizabeth MacDonald, a Fox News contributor, highlighted its impact, noting, "Elon Musk turning on Starlink for Iran in 2022 was a game changer. Starlink connects directly to SpaceX satellites, bypassing Iran’s ground infrastructure. That means even during government-imposed shutdowns or censorship, users can still get online, and reportedly more than 100,000 inside Iran are doing that."

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MacDonald also mentioned ongoing tests of "direct-to-cell" capabilities, which could allow smartphone connections without a dish, potentially expanding access and supporting free expression and protest coordination.

Musk confirmed the activation, noting on Saturday, "The beams are on."

This follows the regime’s internet shutdowns, which were triggered by Israeli military actions.

Adding to the tension, Israeli Prime Minister Benjamin Netanyahu addressed the Iranian people on Friday, urging resistance against the regime.

"Israel's fight is not against the Iranian people. Our fight is against the murderous Islamic regime that oppresses and impoverishes you,” he said.

Meanwhile, Reza Pahlavi, the exiled son of Iran’s last monarch, called on military and security forces to abandon the regime, accusing Supreme Leader Ayatollah Ali Khamenei in a Persian-language social media post of forcing Iranians into an unwanted war.

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In the wake of hurricanes and earthquakes, Starlink has provided critical internet access to affected communities, enabling emergency communications and coordination.

Similarly, during the Ukraine-Russia conflict, Musk activated Starlink to support Ukrainian forces and civilians, ensuring they could maintain contact and access vital information under dire circumstances.

The genius entrepreneur, is throwing a lifeline to the oppressed in Iran, and the libs can’t stand it.

Conservative talk show host Mark Levin praised Musk’s action, reposting a message stating that Starlink would "reconnect the Iranian people with the internet and put the final nail in the coffin of the Iranian regime."

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GENIUS Act lets State banks conduct some business nationwide. Regulators object

The Senate passed the GENIUS Act for stablecoins last week, but significant work remains before it becomes law. The House has a different bill, the STABLE Act, with notable differences that must be reconciled. State banking regulators have raised strong objections to a provision in the GENIUS Act that would allow state banks to operate nationwide without authorization from host states or a federal regulator.

The controversial clause permits a state bank with a regulated stablecoin subsidiary to provide money transmitter and custodial services in any other state. While host states can impose consumer protection laws, they cannot require the usual authorization and oversight typically needed for out-of-state banking operations.

The Conference of State Bank Supervisors welcomed some changes in the GENIUS Act but remains adamantly opposed to this particular provision. In a statement, CSBS said:

“Critical changes must be made during House consideration of the legislation to prevent unintended consequences and further mitigate financial stability risks. CSBS remains concerned with the dramatic and unsupported expansion of the authority of uninsured banks to conduct money transmission or custody activities nationwide without the approval or oversight of host state supervisors (Sec. 16(d)).”

The National Conference of State Legislatures expressed similar concerns in early June, stating:

“We urge you to oppose Section 16(d) and support state authority to regulate financial services in a manner that reflects local conditions, priorities and risk tolerances. Preserving the dual banking system and respecting state autonomy is essential to the safety, soundness and diversity of our nation’s financial sector.”

Evolution of nationwide authorization

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Originally, the provision applied only to special bank charters like Wyoming’s Special Purpose Depository Institutions or Connecticut’s Innovation Banks. Examples include crypto-focused Custodia Bank and crypto exchange Kraken in Wyoming, plus traditional finance player Fnality US in Connecticut. Recently the scope was expanded to cover most state chartered banks with stablecoin subsidiaries, possibly due to concerns about competitive advantages.

Simultaneously, the clause was substantially tightened. The initial version allowed state chartered banks to provide money transmission and custody services nationwide for any type of asset, which would include cryptocurrencies. Now these activities can only be conducted by the stablecoin subsidiary, and while Section 16(d) doesn’t explicitly limit services to stablecoins, the GENIUS Act currently restricts issuers to stablecoin related activities.

However, the House STABLE Act takes a more permissive approach, allowing regulators to decide which non-stablecoin activities are permitted. If the House version prevails in reconciliation, it could result in a significant expansion of allowed nationwide banking activities beyond stablecoins.

Is it that bad?

As originally drafted, the clause seemed overly permissive.

The amended clause makes sense for stablecoin issuers. They want to have a single regulator and be able to provide the stablecoin services throughout the United States. But it also leans into the perception outside of crypto that this is just another form of regulatory arbitrage.

The controversy over Section 16(d) reflects concerns about creating a regulatory gap that allows banks to operate interstate without the oversight typically required from either federal or state authorities. As the two Congressional chambers work toward reconciliation, lawmakers must decide whether stablecoin legislation should include provisions that effectively reduce traditional banking oversight requirements.

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If you find value in my content, consider showing your support via:

💳 PayPal: 
1) Simply scan the QR code below 📲
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Dubai regulator VARA classifies RWA issuance as licensed activity
Virtual Asset Regulatory Authority (VARA) leads global regulatory framework - makes RWA issuance licensed activity in Dubai.

Real-world assets (RWAs) issuance is now licensed activity in Dubai.

~ Actual law.
~ Not a legal gray zone.
~ Not a whitepaper fantasy.

RWA issuance and listing on secondary markets is defined under binding crypto regulation.

It’s execution by Dubai.

Irina Heaver explained:

“RWA issuance is no longer theoretical. It’s now a regulatory reality.”

VARA defined:

- RWAs are classified as Asset-Referenced Virtual Assets (ARVAs)

- Secondary market trading is permitted under VARA license

- Issuers need capital, audits, and legal disclosures

- Regulated broker-dealers and exchanges can now onboard and trade them

This closes the gap that killed STOs in 2018.

No more tokenization without venues.
No more assets without liquidity.

UAE is doing what Switzerland, Singapore, and Europe still haven’t:

Creating enforceable frameworks for RWA tokenization that actually work.

Matthew White, CEO of VARA, said it perfectly:

“Tokenization will redefine global finance in 2025.”

He’s not exaggerating.

$500B+ market predicted next year.

And the UAE just gave it legal rails.

~Real estate.
~Private credit.
~Shariah-compliant products.

Everything is in play.

This is how you turn hype into infrastructure.

What Dubai is doing now is 3 years ahead of everyone else.

Founders, investors, ecosystem builders:

You want to build real-world assets onchain.

Don’t waste another year waiting for clarity.

Come to Dubai.

It’s already here.

 

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🙏 Donations Accepted 🙏

If you find value in my content, consider showing your support via:

💳 PayPal: 
1) Simply scan the QR code below 📲
2) or visit https://www.paypal.me/thedinarian

🔗 Crypto – Support via Coinbase Wallet to: [email protected]

Or Buy me a coffee: https://buymeacoffee.com/thedinarian

Your generosity keeps this mission alive, for all! Namasté 🙏 Crypto Michael ⚡  The Dinarian

 

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