Request

Overview

Request (REQ) is a decentralized payment protocol built on Ethereum that enables anyone to request payments and receive money in a secure way. The project aims to replace traditional payment systems with a decentralized network that removes intermediaries and creates a standardized way to conduct payments across currencies and networks.

Purpose and Utility

The primary purpose of REQ is to serve as the native token for the Request Network, where it is used for:

1. Payment facilitation between parties
2. Network fee payments
3. Governance participation
4. Incentivizing network participants

Business Model Analysis

Request Network's business model focuses on providing payment solutions for businesses and individuals. The platform enables invoicing, payment processing, and expense management in both cryptocurrencies and traditional currencies. This aligns with halal principles as it facilitates legitimate trade and commerce without involving interest-based mechanisms.

Real-World Adoption

Request has secured partnerships with various organizations and is being actively used for business payments and invoicing. Notable integrations include partnerships with Maker DAO and Aave for payment solutions. The network processes real business transactions, demonstrating genuine utility beyond speculative trading.

Development Activity

The project maintains active development with regular updates to its protocol and applications. The team consistently releases new features and improvements, indicating a legitimate focus on building useful technology rather than just token promotion.

Token Distribution

The token distribution shows a balanced allocation with vesting periods for team members and early investors. While a significant portion was allocated to the team and early supporters, these tokens were subject to long-term vesting schedules, indicating a commitment to long-term development rather than short-term profit.