Support and supercharge founders to build dapps and power the next wave of Web3 on Radix
Radix has announced an expansion of their growth initiative, making $10 million in XRD available for growth of the Radix ecosystem. As part of the bold Breakout2024 vision for massive ecosystem growth, developers, builders and founders can now apply for grants, rewards and incentives.
Last year the Radix team launched their first grants program, rewarding building with over half a million dollars. In February they announced 25 million XRD, or $1 million, in funding to nurture developers and help them find success with their dapps. But now they are taking the Radix journey to the next level with the Radix Foundry program.
Funding up to $250,000
As part of the Breakout 2024 vision for ecosystem growth, the Radix Ecosystem Fund has expanded their efforts with the Radix Foundry program. This program will incubate dapps in high potential categories, which can bring growth in users, TVL and on-chain activity to the Radix ecosystem.
Projects participating in the Radix Foundry program can receive marketing, business and technical support from RDX Works, while in addition receive up to $250,000 in funding. The support categories for the program are the following:
- Lending and borrowing money markets
- Real world assets (RWA)
- Yield derivatives
- NFT pro trading
- Launchpads
- Stablecoins and collateralized debt positions (CDP)
- Liquid staking and restaking
Expanding Booster Grants to $160,000
While introducing the Radix Foundry program, Radix is also expanding existing efforts. Through Booster Grants developers can now get 10 times more funding, growing from $15,000 to a maximum of $160,000 to help teams launch from idea to a seed stage startup. The Booster Grants cover 4 consecutive stages, allowing each team to receive each grant once and receive a total of $160,000 in funding. Additionally, development teams will be able to apply for additional funding to cover some of the costs for security and code audits.
The 4 Booster Grants
- MVP Booster – $5,000 in XRD
This is for those who build their first MVP or their dapp on Radix Stokenet (testnet) or as a beta version on Radix mainnet. - Launch Booster – now $15,000 in XRD
Once the MVP has been tested and the MVP Booster has been claimed, teams can apply to the Launch Booster to make sure their project can launch on the Radix Babylon mainnet. - Refine Booster – up to $50,000 in XRD
Teams can apply to a Refine Booster Grant to improve their dapps, gain traction and get ready for further growth. The track is optional, and teams can also apply directly for a Growth Booster Grant if they are ready. - Growth Booster – up to $140,000 in XRD
The Growth Booster Grant aims to support teams to reach their seed stage. Teams applying for this grant will pitch to the RDX Works Ecosystem investment team. They need to present a strong plan to reach their growth goal both in terms of product development, business and marketing. They also need to include a detailed budget to support their grant request.
Rewarding accomplishments
Radix wants to celebrate the success of projects in the Radix ecosystem, which has been a priority since the Babylon mainnet upgrade. Aside from the Radix Foundry program and the 4 Booster Grants, they also want to support teams with their accomplishments. Milestone Rewards are part of the initial Ecosystem Fund announced in February. They will now also expand these by adding a new reward for projects who successfully manage to raise funds.
- Milestone Rewards – A list of milestones to reach in order to get rewards will be published every quarter on the Radix Blog. Projects will have the opportunity to work towards those milestones and get one or several of the quarterly Milestone Rewards.
- Fundraising Rewards – Projects building on Radix who raise funds will receive a reward of up to 10% of the amount they raised paid in XRD tokens. These Fundraising Rewards have a cap of $50,000 per project
Continuous Developer Support
Aside from the grants, Radix wants to nurture an ecosystem where developers get rewarded for positive engagement and contributions. For this they have introduced various rewards and tooling grants.
Developers can for example receive incentives for DeFi ideas, or being an active member in the community. Radix has defined 3 types of rewards for developers:
- $200 in XRD for submitting an outstanding asset-oriented DeFi blueprint
- $1,500 in XRD for impressing the CTO
- $500 in XRD to celebrate community leaders
You can learn more about these developer incentives on the official website.
In addition, builders can get funding to build tools for developers or other ecosystem projects. Think about SDK or frameworks. Learn more and submit your proposal via the Ecosystem Fund Form.
But things all start with community, and Radix knows that. Community members who actively attract new projects will be able to get rewarded as well. Applicants to any of the Radix grants can now mention they were referred by someone, and the referrer can win $500 in XRD for any grant-receiving team they referred.
Closing words
The Radix ecosystem is getting itself up for growth, and they have $10 million available to welcome new projects and reward developers. Apply now for any of the grants through the application form, and the Ecosystem Investment team will reach out to find the right grant or reward program for your project.
