After the announcement of #Breakout2024 in February, numerous projects have applied for the Radix Booster Grants to develop their ideas within the Radix Ecosystem. Since the initial announcement, over 100 applications have been submitted, with more than 20 teams enrolled in the Radix Booster grants.
If you’d like to apply for a Radix Booster Grant, applications are still open as well as other tracks. Check out the various grant tracks available as part of the $10M Ecosystem Fund.
The first three teams to secure the MVP Booster grant are Root Finance, Selfi Social and NFT Wars. Each of these teams has been awarded $5,000 in XRD following the release of their projects on Stokenet. More updates will follow to announce the remainder of the MVP Booster Grant winners once they launch on Stokenet.
Let’s explore each project in more detail.
Selfi Social – Web3 Social Media
Selfi Social is a Chrome extension that integrates directly within the X (Twitter) user interface. This allows users to interact with the Radix Network and Ecosystem seamlessly through their X (Twitter) feed. The project aims to revolutionize the current Web2 social media experience by integrating Web3 capabilities, empowering creators and users seeking active opportunities on social media.
Selfi Social enables users to discover and interact with known cashtags, making it easy to buy tokens, add liquidity (LP), and stake (if available). Powered by XRD Domains, it provides real social Web3 identities and financial personas. Users can also see what tokens other XRD Domain users are interested in and have profited from the most.
Key Features of Selfi Social
dApp Integrations: Through the use of open and shared standards, Selfi provides metadata standards for developers to implement and leverage Selfi Social to its full potential (Selfi Social Metadata Standards)
Social DeFi
Swapping by Discovering Cashtags: Users can discover cashtags (e.g., $XRD) directly in their Twitter feed and initiate token swaps. This feature simplifies the process of buying and selling tokens, allowing users to engage in transactions without leaving X (Twitter). It provides a convenient way for traders and investors to act on market insights and social signals in real-time.
Adding Liquidity (LP) to Discovered Cashtags: Selfi Social enables users to add liquidity to discovered cashtags directly from their Twitter feed. By providing liquidity. This feature makes it easy for users to participate in liquidity mining and other DeFi activities.
Staking to Discovered Cashtags: Users can stake their tokens to discovered cashtags, supporting the network and earning staking rewards. This feature integrates staking functionalities for tokens that support it. Selfi social also allows a user to swap and stake as one action.
Social DeFi Interactions
Domain insights: With display names of X (Twitter) being an XRD Domain, a user will be able to learn more and get insights about that user’s interaction on the network. Users will be able to discover new tokens, new NFTs and new dApps.
Staking on an XRD Domain Assigned Delegation Namelet: Selfi Social provides the option to stake tokens on an XRD Domain assigned delegation namelet. This feature allows users to delegate their stake to a specific namelet, which is a Radix validator address. Leveraging unique capabilities of XRD Domains, this allows increased visibility of validators on the network.
XRD Domains Website Namelet Integration: The integration of XRD Domains website namelets allows users to associate their Web3 identities with an attached Web2 website of their choice. This feature enables users to resonate with a linktree style profile view.
Tipping XRD Domain Users from Tweet Replies/Comments: Users can tip XRD Domain users directly from tweet replies and comments. This feature extends the tipping functionality to interactions within the X (Twitter) platform, enabling users to reward valuable contributions and insights shared in discussions.
On-Chain Reward Polls: Selfi Social incorporates on-chain reward polls, allowing users to participate in governance and decision-making processes. By voting on various proposals and initiatives, users can influence the development and direction of their respective token communities or general project directions. Poll creators get unique insights into voters’ decisions and the ability to reward participation. Participation can finally be rewarded simply for voting on an option.
For more information on Selfi Social, check out their X (Twitter), Telegram and Website.
Root Finance – Lending & Borrowing
Root Finance is a decentralized lending and borrowing platform where lenders and borrowers interact within an overcollateralized market environment. This non-custodial liquidity protocol allows users to participate as either depositors or borrowers.
Depositors earn passive income by providing liquidity, while borrowers can obtain funds in an overcollateralized manner. The platform supports multiple assets, including xWBTC and xETH. Root Finance has been in the ideation phase for over a year, with the team dedicated to building a user-centric lending and borrowing platform.
Key Features of Root Finance
RootBoard: The RootBoard comprehensively lists all the assets that users can lend and borrow, providing summaries of all relevant information regarding your positions.
Health Bar: The Health Bar tool helps you monitor how much of your borrowing power you have used and how close you are to the liquidation threshold, ensuring you stay informed about your risk levels.
Market Section: The market section allows users to analyze the demand and supply of assets by examining the available liquidity, helping you understand market dynamics at any given moment.
Diverse Asset Interaction: Root Finance offers a wide variety of assets for users to interact with, enabling them to enhance their strategic allocations.
Interest Rate Model: Root Finance features a specific interest rate model designed to keep rates sustainable for users while moderating risks. The interest rate mechanism is fine-tuned to balance liquidity risk and maximize utilization. When capital is plentiful, low interest rates promote lending activities. When capital is limited, elevated interest rates stimulate debt repayments and incentivize additional capital deposits.
Asset-Specific Parameters:Each asset on Root Finance has specific parameters based on its volatility and market capitalization. This approach aims to stabilize interest rates and incentivize users to set their strategies effectively.
For more information on Root Finance, check out their X (Twitter), Telegram and Website.
NFT Wars – Web3 Gaming
NFTWars is an innovative, hero-centric idle mobile RPG that aims to create an immersive gaming experience by integrating the Radix NFT Ecosystem with engaging gameplay.
Players can dive into a world where their NFTs become heroes, embarking on campaigns, battling other players’ NFT teams, and collecting activity points for future rewards like NFTs and tokens.
Game Modes
Campaign Mode: Players progress through the game’s storyline, exploring five different areas, each containing four challenging dungeons. This mode is perfect for leveling up your NFT heroes and improving their capabilities. Every NFT collection is unique, featuring distinctive abilities that allow you to strategically create your lineup.
Arena Mode: In arena mode, players choose their three best heroes and battle with teams of other players. Win battles to move up in different leagues, face bigger challenges, and earn bigger rewards. Only the best players can reach the top of the ladder, the prestigious Platinum division.
Future Plans Future plans for NFTWars include a browser version of the game and customizable NFT gear for every hero. To maintain player interest and excitement, the game will feature a variety of events, tournaments, and new content releases, with themed seasons scheduled regularly—a well-established industry standard that has kept games like Fortnite and League of Legends popular for over a decade.
For more information on NFTWars, check out their X (Twitter), and Website.
What’s Next?
Further announcements will provide detailed information about all the projects still in the pipeline.
Applications to the Radix Booster Grants are still open as well as other tracks; builders in the Radix Ecosystem are encouraged to explore the various grant tracks available as part of the recent $10M Ecosystem Fund announcement.
