Monthly Wins: Project Ignition, Booster Grants, and Exciting Ecosystem Developments! | The Radix Blog | Radix DLT
February was another packed month for Radix and its ecosystem. Koinly, the Crypto tax platform, integrated Radix into its offering, along with two new experienced board members being added to the Radix Foundation, and the announcement of Project Ignition, the $10,000,000 liquidity incentives program set to boost liquidity within the Radix DeFi ecosystem.
Additionally, there were a number of successes for projects building within the ecosystem, from CaviarNine, Trove, DefiPlaza, and XRD.Domains.
Here’s an overview of the advancements made over the past month 👇
Latest Updates
Project Ignition Liquidity Incentives: Project Ignition is a $10M liquidity initiative for the Radix Network designed to enhance liquidity for USDC, USDT, wBTC, and ETH. Project Ignition matches each dollar Liquidity Providers provide with an equal amount of XRD, effectively doubling the liquidity provided. LPs receive up to 20% of the provided value upfront in XRD and can claim trading fees while receiving protection from impermanent loss. Project Ignition will launch on March 14th; it’s important to start the process of KYC verification and asset bridging as soon as possible.
Radix Ecosystem Fund: Developers and entrepreneurs in the Radix ecosystem will now have the opportunity to receive support from a newly launched 25M XRD ‘Ecosystem Fund.’ This fund is designed to capitalize on 2023’s successes and aims to empower, champion, and accelerate the growth of the Radix builders’ community.
Radix Booster Grants: As part of the 25M XRD ($1M+) Ecosystem Fund, developers and entrepreneurs can now apply for Booster Grants and receive up to $15,000 in XRD to support the development of their dApp on the Radix network.
Additional Updates
Koinly Integrates Radix: Koinly is an industry-leading cryptocurrency tax calculator trusted by over 1 Million users in 20+ countries. It has integrated 750+ exchanges, blockchains, wallets, and over 23,000 individual cryptocurrencies, making tracking your transactions and calculating your taxes easy. With their new Radix integration, Koinly makes your tax returns as smooth and efficient as possible.
Radix Foundation Board Update: The Radix Foundation announced the appointment of two experienced individuals as Non-Executive Directors: Lindsey Lim – former Sr. Director at Circle and Lord Godfrey Cromwell.
Milestone Rewards: The Milestone Rewards, recently announced as part of the Radix Ecosystem Fund, are now officially live, with this initial set of rewards being offered to the first dApps who reached $1M Total Value Locked (TVL) on the Babylon Mainnet, the first rewards have been given to CaviarNine, Ociswap, DefiPlaza and Weft Finance.
Trove 1M XRD Volume: Trove surpassed 1,000,000 XRD in Trading Volume and has recently launched its V2 with a revamped design, more verified collections, and bug fixes. The team is working on releasing Trove Auctions – an exciting new way to engage in single or multi-asset bidding wars.
DefiPlaza Hits $2M TVL: The DefiPlaza platform recently reached a TVL milestone of $2M across Radix and Ethereum, with $1.5M contributed by Radix alone.
SRWA Accepted Into Katapult Accelerator: The soon-to-launch project SRWA has been accepted into the Katapult acceleration program. This initiative is run by the Innovation Fund and the World Bank in collaboration with the Republic of Serbia and the European Union.
CaviarNine Milestone and New Liquidity Pools: $1M flowed through the CaviarNine platform in a single 24-hour period in February. Plus, the team has launched new liquidity pools as part of their incentives program; this includes xWBTC/XRD, xETH/XR, XRD/xUSDC, and XRD/xUSDT.
XRD.Domains Launch: XRD Domains launched on February 29th with Radix Founder Dan Hughes as the ribbon cutter! Once live, Radix’s average daily transaction volume more than doubled. 2217 domain NFTs have been minted so far and the auction hype is ongoing with a current highest bid of 13,471 XRD on 00.xrd.
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