The XRP community celebrates the establishment of a new source of sponsorship within the developer community, enhancing their support for XRP-centric initiatives.
XRP’s price has taken a significant hit recently, with its cumulative seven-day performance now sitting at a negative growth of 9%. Amid this bearish trend, prominent pro-XRP lawyer Bill Morgan took to the X platform to share a significant update poised to impact the value of XRP substantially.
In particular, Morgan expressed excitement as he revealed that “Wave Of Innovation,” a non-profit organization and the organizer of the upcoming 2024 XRP Gold Coast conference, has decided to become a new source of grants for XRP Ledger (XRPL) developers.
Development on the XRPL has a big role to play in the adoption of #XRP and increase in its value. It is exciting to know that @wave_of_innov a not for profit company and organiser of the 2024 XRP Gold Coast conference has allowed me the honour of publicly announcing that it /1
— bill morgan (@Belisarius2020) October 11, 2023
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New Grants Source for XRPL Devs
Details of the announcement suggest that Wave Of Innovation will serve as a fresh source of sponsorship for developers working on XRPL. The lawyer stated that the endowment offer has become live from Wednesday, October 11.
Meanwhile, Morgan clarified that Wave Of Innovation operates independently and has no affiliation with the RippleX development team or the San Francisco payment firm Ripple.
Additionally, he noted that the selection process for grant recipients will be impartial. Specifically, the process will be based on Wave Of Innovation’s predetermined objective criteria.
Moreover, the pro-XRP lawyer disclosed that the criteria will become public before the 2024 XRP Gold Coast Conference scheduled for March next year.
In an added boon to the XRPL developer community, Morgan mentioned that even developers working on XRPL side chains will be eligible to receive these grants. He encouraged developers to seize the opportunity by expressing their interest in Wave Of Innovation.
Expectedly, this development has sparked excitement in the XRP community as it creates a robust avenue to invigorate development efforts on the XRPL and further promote the adoption of XRP.
Crypto Eri, a notable influencer in the XRP community, enthusiastically weighed in on the announcement. She reaffirmed the independence of the grant sponsor, noting that selecting recipients will remain uninfluenced by any external factors.
🎉 From today 👉there is a new source of 💵 GRANTS TO DEVELOPERS on the #XRPL! The not-for-profit #XRP Gold Coast 🌊 @wave_of_innov, with no connection to @RippleXDev or @Ripple, will not be constrained by anything other than its own objective criteria.🥰
(More TBA)👇short🧵 https://t.co/xiIokGaahi
— 🌸Crypto Eri 🪝Carpe Diem (@sentosumosaba) October 11, 2023
Emphatically, Wave Of Innovation joins Ripple and others, supporting developers in the XRP ecosystem. Recall that Ripple offered $100,000 to an XRPL-based decentralized exchange from its grant program a few months ago.
Ultimately, this new grant source is expected to inject new energy into the XRP ecosystem as it sets the stage for exciting advancements in XRPL, potentially propelling the appeal of XRP in the market.
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