Who can apply for XRPL Grants and XRPL Accelerator Programs?
Submitting an application requires you to be at least 18 years of age and not a citizen of, or located in, a country or territory on an OFAC Sanctions List.
To benefit meaningfully from the program, you should at least have a Minimum Viable Product (MVP) that can capture sufficient market demand. Ideally, you're part of a technical founding team, have developed a strong product, and demonstrate entrepreneurial drive.
Employees at Ripple are not eligible to apply for the XRPL Grants Program.
Where can I learn more about the XRP Ledger?
For more information and a broad range of resources, incl. reference docs, visit XRPL.org. The XRP Ledger is always online and entirely public. Anyone can access it directly from a web browser; find a number of source code examples and tutorials here. We also recommend the free Intro to the XRPL and Code with the XRPL courses. A great way to engage with the XRPL community is joining the Discord channel.
There are many ways to interact with the XRP Ledger, incl. client libraries (SDKs) in JavaScript, Python, and Java. There are also APIs available over HTTP (JSON-RPC) and WebSockets. Previous XRPL experience is highly encouraged when joining the accelerator. An understanding of the ledger and the technical ability to execute your project by the core team are critical elements in our assessment.
Do I have to have a company in order to receive funding?
For Grants Programs: We consider applications submitted by small teams, pre-incorporation, or individuals, as well as companies.
For Accelerator Programs: We will, on a case-by-case basis, consider applications submitted by small teams pre-incorporation. However, potential venture funding after concluding the Accelerator program is only accessible to incorporated entities and not individuals.
Can I reapply if a previous application was unsuccessful?
Yes, we strongly encourage you to do so. If you reapply, please emphasize the progress you accomplished since having submitted your previous, unsuccessful application.
Is venture funding/funding for equity part of the XRPL Accelerator program?
Not by default. We understand each startup has a unique growth path, need for funding, and commercial potential. When concluding the program, early-stage investors, incl. Ripple, assess each startup individually for a fair valuation based on funding requirements. Finishing the program does not guarantee an investment offer. If an investment offer is extended to your team, it is up to you whether or not to accept the term sheet/conditions; joining the program entails in no way any commitment to give away equity.
Startups can join the program irrespective of when/how/if they plan to raise funds. Your fundraising objectives play no role in evaluating your application; we evaluate based on product, team, traction, and scalability.
Based on what criteria are Accelerator applications evaluated?
We accept teams that are building on XRPL and have at least an MVP or a roadmap to launch one. Further, evaluations will be based on whether your team has strong technical foundations and is devoted to the project. Your team should have a strong hypothesis on its market validation and there should be sufficient market opportunity.
In evaluating your application, we take a balanced, holistic approach, and blend quantitative with qualitative factors. If you're unsure about the readiness of your startup for the accelerator, please feel free to get in touch, or submit your application regardless as you may always reapply.
Based on what criteria are Grants applications evaluated?
The XRP Grants program seeks to fund software development projects and ventures leveraging the XRP Ledger (XRPL).
The judging panel includes renowned subject matter experts in blockchain business development and business: CTOs, product managers, VCs and investors, and XRPL Community members, including past awardees. The judging committee can be viewed here (subject to change).
When evaluating applications, judges take a detailed and holistic look at the project to determine whether it has:
- A strong founding team with technical experience to execute the project
- A viable business use case that solves a problem or need in the industry
- A product with strong market opportunity
- Alignment with the capabilities of the XRPL
- Sustainability - does the team have a plan for how this project will be maintained long-term?
Additionally, the XRPL Grants program reserves the right to decline any project. The XRPL Grants program team encourages program teams to encourage a positive environment and be supportive of other projects within the XRPL ecosystem. Reports of harassment, doxing, etc., that target other members of the community, members of the program team, or Judges will not be tolerated under any circumstances. All projects and teams are expected to adhere to the XRPL Grants Terms of Service and the XRPL Developers Contributor Code of Conduct. If the XRPL Grants program determines that you have violated these terms, especially in an egregious manner, your application to the program will not be accepted.
Projects are scored on a Technical Assessment Rubric and a Business Assessment Rubric based on the following criteria:
Technical Assessment: To determine the team's technical strength and ability to build, execute and maintain the project.
- Technical Team Strength: Does the team have the relevant technical skills and experience to build, execute, and maintain the project?
- Technical Design and XRPL Alignment: Does the project's overall system design, architecture, technical approach, and alignment with the XRPL's capabilities and integration requirements?
- Code Walkthrough and Review Quality: - The project shared original coding work (code may be a mix of original work with forked or open source components) that is generally readable and runnable - The project provided documentation with basic information about the project's features and instructions for running the code - The team has demonstrated coding best practices, such as basic security considerations and authentication handling
- Product Roadmap and Milestones: The roadmap is realistic, and well-thought-out, and demonstrates an understanding of necessary steps, resources, and timelines necessary to complete the project, and the XRPL integration prioritized as an early milestone
Business Assessment:
- Team Strength: the project has a strong founding team with the ability to execute the proposed roadmap
- Project Roadmap and Milestones: the team provides a clear, step-by-step roadmap and milestones for executing the project
- Market Opportunity: The project fills a needed market gap, and the team demonstrates an understanding of the competitive landscape
- Project Traction: the project has demonstrated growth in terms of user adoption, or revenue growth
- Financial Project Sustainability: the project team has demonstrated that they have a sustainable financial plan for long-term viability
- XRPL Utility and Onchain Activity Use Case Alignment: the project supports growth for the XRPL ecosystem, and has the potential to drive incremental on-chain transactions, and/or provide key infrastructure and/or developer tooling for the XRPL ecosystem
- Commitment to the XRPL: the team is committed to building/integrating with the XRPL in the long-term
What information will I need to provide in my Accelerator application?
We ask you to provide details about your product, traction, and organization, including a pitch deck. Please submit your GitHub repo and ensure it's accessible to us for faster reviewing.
Application components to share include, but are not limited to:
- Project Prototype
- Proof of Project Code (ex. Github Repository)
- 2-min Project Demo
- A detailed description of your project
- Product and development Roadmap
- Timeline of 3 to 12 Months
- Plan for Financial Growth/Sustainability
- Clear XRPL Use-case reasoning and integration plan
- At least one experienced software developer on the core project team
Can I apply to the Accelerator if my team has previously been part of other XRPL funding programs?
Yes, we strongly encourage recipients of other XRPL funding programs to apply for the Accelerator program. Whether your team benefited from other XRPL funding programs before will have no impact on how we evaluate your application; all we look at is your product, team, traction, and scalability.
What is the average processing time for Accelerator applications?
We aim to conclude pre-screenings on a rolling basis and within 2-3 weeks of submission.
Can I apply for an Accelerator cohort outside of the region my team is based in?
Yes. We do, however, strongly encourage you to apply for a cohort that best suits your business interests and team setup. Mentor availability and curriculum delivery align with the timezone of the program location. Part of the program content is tailored to the respective region.
Each cohort features an on-site demo week at the end of the program; we strongly encourage each participating team to make use of this opportunity. We aim to align the on-site demo week with a global blockchain conference in the respective location.
Is being on-site a requirement for participating in the Accelerator program?
No, the default format of the program is hybrid and predominantly virtual. You are welcome to join us on-site at all times, but if you're unable to travel, you can still access all benefits the program offers.
Each cohort features an on-site demo week at the end of the program; we strongly encourage each participating team to make use of this opportunity. We aim to align the on-site demo week with a global blockchain conference in the respective location.
Who runs the operations of XRPL Grants and XRPL Accelerator?
The XRPL Grants and XRPL Accelerator programs are offered by Ripple Labs Inc. ("Ripple") and its subsidiaries and affiliated companies.
Does participating in the XRPL Grants or XRPL Accelerator programming mean my organization becomes directly affiliated with Ripple?
No, solely participating in the program does not by default make you an affiliate of Ripple and its subsidiaries and affiliated companies. The terms for participating do not alter the terms or conditions of any other agreement you may have with Ripple.
If selected for program participation, please reference the marketing materials and guidance provided by the funding program team.
What is the range of award amounts?
Awards range between $10,000 and $200,000 per project in non-dilutive grant funding based on attaining funding milestones.
There are two milestone types:
- Product & integration milestones (~30% of the award)
- Growth-based milestones (~70% of the grant) for hitting on-chain metrics on the XRP Ledger or other key growth metrics
Is there a grant award associated with the accelerator program?
Program grants range between $50,000 USD - $200,000 USD and will be allocated according to development and adoption-based milestones. These will be discussed with the Ripple team after your acceptance to the program.
What time commitment should my team expect from participating in the Accelerator program?
This primarily depends on your individual goals and what your team aims to get out of the program. Pre-scheduled, fixed program elements will not exceed three hours per week, but you are strongly encouraged to engage with mentors, experts, and other program content as much as possible.
Where can I find the terms & conditions for the XRPL Grants and XRPL Accelerator program?
Terms & conditions can be viewed here. Grantees are expected to adhere to the Contributor Covenant Code of Conduct, and to support making the XRPL community welcoming and harassment-free.
Do I need to have prior experience building on XRP Ledger to apply for funding?
Previous XRPL experience is not required, but highly encouraged. If you are new to blockchain and the XRPL we recommend you review the resources available on the Learning Platform and/or review the documentation at XRPL.org.
What are the tax implications of receiving funding?
Often, this funding is treated as taxable income, but recipients are responsible for determining the tax implications of receiving an award based in their respective countries' tax laws and compliance requirements. You should factor in and include the estimated taxes in your submitted budget document.
Can I apply with more than one project?
No. We will only consider a single project per organization/team/project lead. We recommend putting effort into submitting your strongest proposal, instead of submitting multiple proposals.
Are there restrictions on what I can apply awarded funds toward?
We are looking to support technical project development and related expenses. Projects requesting funding for general infrastructure (including validators) and overhead may not be funded. Your budget may include salaries, legal fees, external audits, etc.. You are responsible for figuring out tax rates and any estimated conversion and including them in your budget estimations. (See below FAQ for additional information on Tax Implications.)
Can I apply for a reinvestment/follow-on grant?
While the opportunity for additional funding from either the Grants or Accelerator is a possibility, it is not a guarantee. If you are a previous awardee and interested in applying for follow-on funding, please contact the funding program team to discuss.
Do I have to receive a grant in order to build on the XRP Ledger?
No, XRP Ledger is an open source, public, permissionless and decentralized blockchain that anyone can develop on. We encourage you to build and develop your project using the technical resources on XRPL.org and in the wider XRP community. The XRP Ledger Developers Discord is also a great place to connect and engage with others in the XRPL community. If you are new to the XRPL, the Learning Platform is a great place to start and learn the basics of crypto, blockchain and coding on the XRPL.
How should I determine what size of an award to apply for?
The award amount you request should be determined by the scope of work that you wish to complete using your grant. Your application must contain milestones/scope of work and a budget breakdown detailing how you intend to spend any awarded funds.
Is sharing a Github repository required?
It is not required, but it is preferred that teams share an active Github repository with project code for review. To be consider for funding we are looking to assess that your project has at least a proof of concept.
The Github repo, does not have to be public, but please ensure that it is can be shareable with application reviewers at least temporarily, in order to make the review process smooth and as fast as possible a list of handles to share your Github repo with is included on the application form.
If your project does not have a Github, you may share the technical design of your project, including system design diagrams and narrative (An example can be found here).