Ripple Commits One Billion XRP To Accelerate XRPL Development

According to U.Today, Ripple has pledged one billion XRP in March 2022 to expedite the development and introduction of new use cases on the XRP Ledger (XRPL). This fund is an extension of the XRPL Grants program and is aimed at furthering Ripple's shared vision with the developer community. Since its establishment in 2021, the XRPL Grants Program has sparked creativity and technological innovation, funding over 140 projects in 28 countries. These projects span a variety of sectors, including sustainability, financial solutions, digital identity platforms, and game-fi. Each grant, which can reach up to $200,000, has provided not only financial support but also a vote of confidence to the recipients. Ripple celebrates the innovation and projects driven by the XRP Ledger community, as developers and entrepreneurs worldwide continually push the boundaries of what is possible. Ripple's key community and developer growth initiatives, such as the XRPL Grants Program, XRPL Accelerator, and XRPL Hackathons, continue to provide resources and support to projects that bring utility, traction, and meaningful activity to XRPL. Ripple has announced that additional updates to these programs are forthcoming, aimed at providing more clarity and transparency around the funding criteria. This will ensure that applicants understand what to expect during the process and who to contact with questions. Other forms of community support include the XRPL Commons Aquarium Residency and the Creator Fund, which have served as catalysts for new projects and partnerships. The XRPL Accelerator program, launched in June 2023, is designed to help entrepreneurs build on XRPL and scale their initiatives into successful businesses. In 2024, the XRPL Accelerator program will offer two tracks: The Launch Program for early-stage projects and the Scale Program for startups that already have significant traction and market validation. The next cohort of the Scale Program is set to begin in August 2024, with applications opening soon. The next XRPL Hackathon, in collaboration with EasyA Labs, will take place on June 9 in Amsterdam, leading up to the 2024 XRP Ledger APEX. A second XRPL hackathon will be held on June 28 and 30, in collaboration with SwissHacks.