- Project Ignition campaign sees TVL more than double in March
- Radix Wallet v1.5 rolled out across iOS and Android
- Radix can 'meet demands of global finance for next 100 years,' report says
Radix, a full-stack solution for Web3 and DeFi, has seen the total value locked within its ecosystem surpass a record-breaking $50 million for the first time.
As the crypto markets enjoy a strong start to 2024, Radix's massive TVL surge has been driven by Project Ignition, a $10 million campaign to enhance liquidity for USDC, USDT, ETH and wBTC. Figures from DeFiLlama show the total value locked in this Layer 1 smart contract platform rallied from $23 million to $51 million over the course of March — a rise of 121% — helping Radix jump to 52nd in the respected data source's rankings. Radix also boasts a vibrant ecosystem full of dApps driving the platform forward — from naming services to NFT collections, memecoins to metaverses, and dashboards to DeFi services. XRD Domains, Ociswap, DefiPlaza, CaviarNine, HUG and Early are just some of the amazing projects on offer, and are highlighted through a community-run website.
All of this comes after exciting new features were unveiled with the launch of Radix Wallet v1.5 — making the experience on iOS and Android more secure and user friendly than ever before. A comprehensive list of recent transactions is available that can be filtered based on deposits and withdrawals, in addition to transfers and staking activity. This follows a successful integration with the leading crypto tax software providers Koinly and Blockpit, which provide dedicated support for digital asset investors in the US, UK and across Europe.
RDX Works CEO, Piers Ridyard said:
"2024 is already shaping up to be an incredibly exciting year for Radix. The rapidly growing ecosystem of powerful, secure, and intuitive dApps are quickly becoming established names and gathering buzz across the crypto market. While there are so many significant milestones to celebrate after a busy March, everyone's attention should now be focused on the brilliant applications and initiatives set to launch in the coming months as part of the Radix Ecosystem fund and #Breakout2024."
A taster of what's to come was unveiled in Breakout 2024, a flagship presentation from Radix that's already commanded over 1.8 million views on YouTube. The video began by recapping the ambitious project's achievements to date — which include creating true scalability for blockchains, delivering a 10x speed-to-market improvement for smart contract developers, and building a safe, fast and intuitive wallet to make Web3 simple for consumers and not terrifying.
Aggressive campaigns to boost liquidity and user onboarding were announced, alongside multimillion-dollar funds for the ecosystem and plans to welcome institutional capital. And if that wasn't enough, Radix's infrastructure will also be at the heart of an attempt to break the world record for throughput on decentralized networks. The overall goal is simple: to help consumers who may have never heard of Radix to start using this platform with confidence in minutes.
Tackling DeFi's challenges
Radix's efforts to date have led to glowing reports from the likes of CoinBureau, which praised the project for "addressing the critical challenges of DeFi." The education platform's review concluded that the many innovations on offer through this blockchain — including the Scrypto programming language and Cerberus consensus algorithm — mean Radix is "poised to meet the demands of global finance for the next 100 years and beyond."
Elsewhere, a recent CryptoEQ report compared the user and developer experience on Radix with three other major smart contract platforms. Researchers concluded that Ethereum suffers from a first mover disadvantage, Solana has usability concerns and Aptos has limitations. But when it came to Radix, they wrote: "Radix's full suite of UX improvements stands it in a strong position to onboard the next wave of non-crypto natives to Web3."
As part of efforts to encourage newcomers and existing users to put the new functionality within Radix's ecosystem through its paces, popular Scrypto challenges have made a return — this time focusing on the world of yield derivatives. A prize of up to $15,000 in XRD, alongside exclusive NFTs, are on offer for imaginative developers who create a Pendle-like dApp within the Radix network. Lucky winners will also be given a fast-track ticket to the Booster Grants program, which gives budding entrepreneurs the funding they need to bring their projects to life on Radix.
Significant announcements about Radix's progress are being made with every passing day on social media, driven by a desire to change the narrative. While many crypto enthusiasts have been left bombarding their favorite projects with questions such as "wen token," "wen launch" or "wen marketing" — only to be given a vague answer of "soon" — Radix's answer is simple: now.
RDX Works CMO Adam Simmons added:
"One of the biggest strengths of Radix is the passionate community at the beating heart of this exhilarating journey. To ensure both new and existing Radvocates are kept up to speed, there are regular events on X Spaces, YouTube, and more to keep everyone up to date on the progress made so far, as well as what's in the pipeline. As Piers announced in the #Breakout2024 presentation, the successful Babylon upgrade means Radix is hitting the big red marketing button to rapidly accelerate both user and developer onboarding. Radix has a world-class track record of delivering results and pushing the boundaries of what's possible in DeFi, and it’s just getting started."
About Radix
Radix is the only full-stack, Layer 1 smart contract platform that offers a radically better experience both for users and developers. With Radix, users can confidently use Web3 and DeFi to manage their assets and identities. For developers, Scrypto and Radix Engine provide a powerful and secure asset-oriented programming paradigm that allows builders to intuitively go from idea to production-ready dApps that their users will love.
For more information, please visit radixecosystem.com.