Project Ignition: Your Step-by-Step Guide Through RocketX to Radix | The Radix Blog | Radix DLT
Project Ignition, Radix’s $10M liquidity incentives program, will go live on March 14th. Project Ignition is a key liquidity campaign with the goal of onboarding more wrapped USDC, USDT, wBTC, and ETH liquidity into the Radix DeFi ecosystem.
With Project Ignition, liquidity providers (LPs) receive up to 20% of the provided value instantly in XRD, have the value of assets they provide matched with XRD, generate trading fees from the liquidity they provide, access any DEX incentives, and also benefit from significant impermanent loss protection.
To participate in Project Ignition, LPs need xBTC, xETH, xUSDC, or xUSDT to participate. While you can bridge this directly via Instabridge, you can also purchase wrapped assets via Radix DEXs.
One way you can access the Radix DeFi ecosystem is via RocketX, which seamlessly enables you to exchange Ethereum, Bitcoin, Solana, and many other cryptocurrencies for Radix (XRD). By doing so, you can participate in Project Ignition and secure up to 20% of the provided liquidity in Radix (XRD) in a completely decentralized way, offering you a simple entry into Project Ignition.
Get ready to claim your Project Ignition Rewards with RocketX
RocketX has 20,000+ tokens and 100+ blockchains that you can swap between, meaning that you can swap almost any asset you hold into XRD and claim liquidity rewards in a completely permissionless way.
RocketX has even been hailed as one of the fastest ways to perform a cross-chain swap, making swapping assets into Radix for Project Ignition a breeze.
Here’s how you do it:
Step One: Connect your Wallet
Connect your wallet that holds the asset you’re swapping into XRD. For example, if you’re swapping ETH from the Arbitrum network, you’ll have to connect your MetaMask wallet.
Step Two: Choose your Asset and Amount
You need to go to the RocketX swap tool and select an asset to swap to Radix; for this example, we’ll stick to ETH on the Arbitrum network. Select the amount you’d like to swap into XRD and then add your Radix account address where it says Recipient Address. You can get your address from the Radix Dashboard or within the Wallet.
Step Three: Bridging Into Radix
It might take RocketX up to an hour to swap your ETH into XRD, but once you’ve got your XRD in your Radix Wallet, head to either Ociswap, CaviarNine, or DefiPlaza, and then use that XRD to swap into xUSDC, xUSDT, xwBTC, or xETH.
Step Four: Provide Liquidity via DEXs participating in Project Ignition
Project Ignition will go live on March 14th. To receive wrapped assets xUSDC, xUSDT, xwBTC, or xETH, you can directly purchase them on one of the participating Radix DEX’s Ociswap, CaviarNine, and DefiPlaza.
Once you supply liquidity to the participating liquidity pools, you’ll instantly receive your XRD bonus of up to 20% of the value of the liquidity you provide.
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