Request Price REQ

Request is a decentralized network built on Ethereum that enables secure and transparent invoicing, accounting, and payments between businesses and individuals.

Key takeaways

• Request is an open-source protocol for creating, sharing, and paying invoices directly on the blockchain, eliminating intermediaries.
• It operates as an ERC-20 utility token on the Ethereum network, with a portion of transaction fees used to buy back and burn REQ tokens.
• The platform automates accounting and compliance by generating immutable, auditable records of all financial transactions.
• Its core value lies in streamlining B2B and freelance payments, reducing costs, and preventing fraud through cryptographic proof.
• REQ tokens are used to pay for services on the network and benefit from a deflationary mechanism through token burns.

What is Request? Key Specifications & Tokenomics

Request is a decentralized application (dApp) protocol designed to revolutionize how invoices and payments are handled by leveraging blockchain technology for trust and automation.

Who created Request (REQ)?

The Request Network was founded by Christophe Lassuyt and Etienne Tatur. The project emerged from a successful initial coin offering (ICO) in late 2017. The core team, backed by Request Foundation, consists of developers and entrepreneurs focused on building decentralized financial infrastructure. Their vision was to create a universal protocol for payment requests that could integrate seamlessly into existing business workflows, replacing traditional systems like PayPal or bank transfers with a more efficient, transparent, and global blockchain-based alternative.

How does Request (REQ) work?

The Request Network functions as a layer on top of Ethereum. Users can create a "Request" – essentially a smart contract-based invoice that specifies payment terms between a payer and a payee.

• Invoice Creation: A user generates a payment request invoice directly on the blockchain. This invoice is cryptographically signed and contains all relevant details like amount, currency (crypto or fiat), due date, and terms.
• Immutable Record: Once created, the request becomes an immutable record on the Ethereum blockchain, providing a single source of truth for both parties and for audit purposes.
• Payment & Fulfillment: The payer can fulfill the request by sending the required payment in cryptocurrency. The network supports payments in various tokens.
• Fee Burning: A small fee is taken from each transaction conducted on the network. A portion of this fee is used to automatically buy REQ tokens from the open market and burn them, reducing the total supply over time.

What makes Request (REQ) unique and valuable?

Request's primary innovation is applying blockchain's trustless and transparent nature to the mundane but critical world of invoicing and B2B payments.

• Decentralized Invoicing: It removes reliance on centralized payment processors, reducing fees and eliminating single points of failure or censorship.
• Automated Accounting: Every transaction is recorded on-chain, allowing for real-time, automated accounting and audit trails. This significantly reduces administrative overhead and errors.
• Deflationary Tokenomics: The REQ token burn mechanism creates a deflationary pressure on its supply, aiming to increase token scarcity as network usage grows.
• Cross-Border Efficiency: It simplifies international payments and invoicing by using cryptocurrencies, bypassing slow bank transfers and high currency conversion fees.
• Fraud Prevention: The immutable nature of blockchain records makes it nearly impossible to alter or dispute invoices after creation, reducing payment fraud.

What is Request (REQ) used for?

The REQ token is the utility and governance fuel for the Request Network ecosystem.

• Network Access Fee: REQ is used to pay for services on the network, such as creating advanced invoices or accessing premium features.
• Governance: Token holders can participate in governance votes to decide on the future development and parameters of the Request protocol.
• Value Accrual: Users and investors hold REQ to benefit from its deflationary model, where increased network activity leads to more tokens being burned.
• Staking (Potential): Future iterations of the protocol may introduce staking mechanisms to further secure the network or offer rewards.

How Is the Request (REQ) ecosystem developing?

The Request ecosystem focuses on integration and partnership to drive adoption.

• API and SDKs: The team provides robust tools for developers to integrate Request's invoicing and payment capabilities into their own applications, e-commerce platforms, and accounting software.
• Partnerships: Request has formed partnerships with accounting software companies and other blockchain projects to embed its technology into existing business tools.
• Grant Program: The Request Foundation runs a grant program to fund projects that build on top of or integrate with the Request protocol, expanding its use cases.
• Focus on DeFi and DAOs: There is a growing emphasis on serving decentralized autonomous organizations (DAOs) and the broader DeFi sector, where transparent and automated treasury management is crucial.

How to mine Request (REQ)?

REQ is not a mineable cryptocurrency. It is an ERC-20 utility token issued on the Ethereum blockchain. All REQ tokens were created during its genesis event and initial distribution. New tokens are not generated through mining. The only supply change mechanism is the deflationary burn, which permanently removes tokens from circulation.

How to keep your REQ Coin safe?

As an ERC-20 token, REQ should be stored in secure Ethereum-compatible wallets.

• Hardware Wallets (Cold Storage): For long-term holding of significant amounts, use a hardware wallet like Ledger or Trezor. These devices store your private keys offline, providing the highest security against online threats.
• Software Wallets (Hot Wallets): For more frequent access or smaller amounts, reputable mobile or desktop wallets like MetaMask, Trust Wallet, or Coinbase Wallet are suitable. Ensure you keep your recovery phrase (seed phrase) secure and never share it.
• Exchange Wallets: While convenient for trading, leaving large amounts of REQ on an exchange is not recommended for long-term security. Use exchange wallets only for active trading purposes.

How to buy REQ Coin?

REQ is a cryptocurrency listed on several exchanges. For higher liquidity and a secure trading experience, it is recommended to use a major platform like BTCC.

1. Register a BTCC Account: Sign up using your email or mobile number and complete the KYC verification to unlock more features and benefits of the platform.
2. Deposit Funds: Deposit fiat currency (via bank transfer, card, or third-party payment) or transfer USDT from an external wallet into your BTCC account. You can follow this guide on how to buy USDT.
3. Start Trading: Go to the trading page and search for the spot trading pair REQ/USDT or the perpetual contract REQUSDT.
4. Place an Order: Enter the amount of REQ you wish to purchase and submit the order. For contract trading, you can also choose to go short (sell) and adjust the leverage multiplier according to your strategy and risk tolerance.
5. Confirm Your Purchase: For spot purchases, check your personal account to see if the coins have arrived. For contract trades, check the trading page to see if your order was filled successfully.