What is Request (REQ)?

Deep Dive

1. Purpose & Value Proposition

The Request Network aims to streamline global payments and accounting. It solves the problem of relying on costly intermediaries—like banks or payment processors—for invoicing and cross-border transfers. Users can define payment amounts, recipient addresses, and terms to create a secure invoice, which is then shared for settlement. Every step is documented on-chain, providing a transparent, immutable record for easy accounting and compliance with global trade laws (CoinMarketCap).

2. Technology & Architecture

The protocol is built on Ethereum, utilizing its security and smart contract capabilities. Requests are stored on an immutable digital ledger, which acts as proof for all auditing purposes. The REQ token itself is an ERC-20 standard token, ensuring compatibility with the broader Ethereum ecosystem, including wallets and decentralized exchanges.

3. Tokenomics & Utility

The REQ token has a fixed initial supply of 1 billion. It powers the network through several key mechanisms: it acts as an anti-spam measure by requiring small fees to create requests, enables holders to participate in governance decisions, can be staked, and provides fee discounts for services. A deflationary burn mechanism permanently removes a portion of tokens from circulation with transactions, as evidenced by monthly burn events (Request Network).

Conclusion

Fundamentally, Request Network is a decentralized infrastructure layer for business payments and auditing, with its REQ token serving as the economic and governance backbone. How will its focus on B2B payments and automated auditing compete as blockchain adoption in traditional finance grows?