25 million XRD tokens available for distribution to dapp builders
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.
The Radix Ecosystem consists of over 30 dapps currently live on the Babylon Mainnet, with more projects steadily being released in the coming months.
Radix is a Layer-1 DLT (Decentralized Ledger Technology) that aims to radically improve the Web3 and DeFi experience for users and developers through its highly optimized stack of custom technologies, which tightly integrates wallet, programming language, execution environment, and consensus algorithm.
What to expect from the Radix Booster Grant
The Radix Booster Grants will consist of two individual grants that developers and entrepreneurs can apply for:
- The MVP Booster – $5,000 in XRD: for those who are building an MVP on Radix Stokenet (test net).
- The Launch Booster – $10,000 in XRD: for those who have already built an MVP and are ready to launch on Babylon Mainnet.
With applications now open, each team can apply for grants and receive up to $15,000 in XRD. It’s important to note that Grants are distributed based on your project reaching a milestone. The scope of the milestone and its deadline are defined during the application process and vary across projects.
In addition, developers can expect to receive:
- Networking opportunities with grants alumni and the Radix community
- Access to partner offers such as AWS credits and Hacken audits
- Exclusive dapp features via the “Runs on Radix” campaign
- Co-marketing opportunities
Developers who are still early in developing their project can apply for the MVP Booster. They will need to build an MVP on Radix Stokenet, which is their testnet. The MVP Booster gives developers $5,000 in XRD.
Those who have already developed a product can apply for the Launch Booster. They must launch their dapp on Radix mainnet to receive $10,000 in XRD.
You can’t apply for both tracks at the same time. However, teams can apply and complete the MVP Booster grant and then apply for a Launch Booster grant.
Radix is just getting started
Radix launched its mainnet on 28 September 2023, and since then, the ecosystem has grown considerably. Right now, TVL currently sits at just over $25 million, according to DeFiLlama.
Moreover, the network has processed close to half a million transactions, with an average of 5,000 daily.
Since the Babylon Mainnet upgrade was completed, Radix has announced a variety of integrations and partnerships with other Web3 and DeFi leaders, including:
- Supra: offering its “push” and “pull” oracle services to deliver precise and reliable price data for more than 100 of the most popular crypto asset pairs.
- Keyrock: a leading digital-asset market maker, who has announced that they will inject $10+ million in liquidity into the Radix ecosystem by integrating the Radix network into its market-making technology stack.
- Grove: a pioneer of decentralized RPC infrastructure. This makes it easy for developers to build using Radix Core API via the Grove RPC endpoints. This boosts the Radix ecosystem by simplifying how developers connect to the Radix Network, reducing complexity for developers, and making it easier and more cost-effective to build on Radix.
- Arculus: This integration will bring two exciting benefits to the Radix community: a highly convenient way of adding hardware-based security to the Radix Wallet’s coming multi-factor authentication (MFA) account control and an expansion of the reach of the XRD token with a new multi-network mobile wallet app option from Arculus.
- Koinly: a cryptocurrency tax platform that will allow Radix users to easily file their tax reports, a common burden for most Web3 and DeFi users.
With the newly established Booster Grants, Radix wants to bring more top-tier developers into their ecosystem. Currently, there are 30 projects live on Radix, and with the help of this fund, combined with their radically different approach to DeFi, this number is set to increase.
Radix clearly stands at the forefront of DeFi, driven by the core belief that the future of finance should not be centralized. With the commitment to advance DeFi, Radix will ignite the next DeFi Summer.
