Unleashing the Power of AI on the XRP Ledger

XRPL Grants, a program dedicated to fostering innovation on the XRP Ledger, is thrilled to announce the launch of a brand new funding track specifically designed for Artificial Intelligence (AI) projects utilizing technologies such as large language models (LLMs) and other applications of generative AI (GenAI) technology for building on the XRP Ledger. This groundbreaking initiative aims to empower developers and entrepreneurs to explore the exciting potential of AI within the XRP Ledger ecosystem.

The XRPL Grants Program funds software development projects and ventures that leverage the open source XRP Ledger and help grow the community. Funding opportunities range from $10,000 - $200,000 for project timelines up to one year in duration.

Unlocking New Possibilities with AI

The XRPL Grants AI Fund offers a unique opportunity for developers and entrepreneurs to explore a wide range of AI applications within the XRP Ledger landscape.

In addition to the global rolling application and Brazil Fund, this AI Fund seeks to fuel the development of next-generation solutions that leverage the power of AI on the XRP Ledger.

The XRPL Grants AI Fund Application opens on a rolling basis beginning on September 24, 2024, with a live Info Session and Q&A hosted on October 2, 2024 at 11am PT.

Some potential areas of focus could include:

• AI-Driven optimization: exploration of AI algorithms to optimize XRP Ledger consensus mechanisms, transaction processing, or network topology for improved performance and scalability.
• Predictive analytics: development of AI models to forecast network congestion, security threats, or market trends based on XRP Ledger data.
• Anomaly detection: utilization of AI to identify unusual transaction patterns or network behavior that may indicate fraudulent activity or system anomalies.
• AI-Powered risk assessment: creation of AI models to evaluate creditworthiness, collateralization, and market risks for DeFi applications.
• Algorithmic trading: development of AI-driven trading strategies optimized for the XRP Ledger ecosystem.
• AI personalized financial services: exploration of AI-powered tools for delivering tailored financial products and services to XRP Ledger users.

XRPL Grants has previously supported AI projects on the XRP Ledger including:

• AnChain.AI offers AI-powered intelligence enhancing blockchain security, risk, and compliance strategies. Anchain.ai has been funded for two projects through XRPL Grants: CISO™(Compliance Investigation Security Operation) integration for the XRP Ledger and BEI API which provides an AI/ML (machine learning) based risk engine via API, allowing developers to integrate best-practice risk management and suspicious activity reporting into their XRP Ledger projects.
• ChatXRP transforms XRP Ledger interactions, providing seamless access to web3 services through a simple interface. Integrated with the XRP Ledger and third party applications, this AI-powered chat app utilizes the ledger and extended APIs for real-time data.

How Do I Get Started?

Visit the XRPL Grants website to learn more about the application process, explore the previous projects we’ve funded, and get inspired by previous grant recipients. Don't miss this opportunity to be a part of the future of AI and blockchain! We can't wait to see your groundbreaking ideas come to life.

Am I qualified to apply for XRPL Grants?

To apply and receive funding from XRPL Grants, all members of the team must meet basic eligibility requirements. The complete list of eligibility details and project terms are available for review at: https://xrplgrants.org/terms.

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

All projects should be able to provide/prove the following in their application:

• Proof of Concept or MVP
• Proof of Code and/or Code Architecture and a technical integration plan with the XRPL ( i.e GitHub Repository and/or system design diagram)
• 2-min Project Demo
• Product Roadmap & Milestones for up to 12 months
• Plan for Monetization / Financial Sustainability
• Project Traction & Growth Metrics

In addition to the general application materials for Rolling Applications. AI applicants will be asked to submit documentation and materials related to their AI Model. AI Specific materials/documentation may include:

• AI Model System Diagrams
• Testing and Validation Methods
• Monitoring and Maintenance Plan
• Security and Privacy Plan

Have questions?

Sign up for the upcoming XRPL Builder Office Hours, or check the XRPL.org Events page for both local and fully remote events.

Are you interested in learning more about the XRPL and getting involved in the community?

Explore the XRPL Developers Discord, the XRP Ledger Learning Portal, and the extensive documentation available on XRPL.org. You can also participate in XRPL Community Events and Hackathons to engage with like-minded individuals and stay abreast of the latest developments in the XRP Ledger ecosystem.