How to Get Started with DeFi on Radix Mainnet

how get started radix defi babylon mainnet
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Radix mainnet live on 29 September, opening the Radix ecosystem up with user-friendly services

With the Babylon update, Radix has launched its mainnet, and with this milestone the platform now offers a whole set of tools to make the DeFi ecosystem more accessible. Instead of having DeFi operate through the software built on top of blockchain, Radix embraces liquidity pools and other financial services directly built-in. 

Babylon levels up the entire Radix ecosystem with Scrypto smart contracts, while digital assets such as tokens, NFTs and liquidity tokens are native features. This means that there’s no software development required to recognize these, as the network itself recognizes the metadata and purpose of each asset. 

With Babylon hitting mainnet on 29 September, the Radix ecosystem is now positioned to welcome a broader audience that’s looking for accessible and understandable DeFi services.

Getting started using DeFi on Radix

With the launch of Babylon, the Radix mainnet now supports smart contracts. That means dapps can launch and thrive in this DeFi oriented ecosystem. Before you start using dapps, do the following: 

1 – Download Radix Mobile Wallet

You definitely need to download the Radix Wallet for iOS and Android. This wallet can hold all your tokens and NFTs on the Radix blockchain. Moreover, it’s an easy way to connect to dapps, while users can manage different accounts. The Radix Wallet uses various new features from the Radix mainnet, giving users more security and confidence with their transactions.

2 – Install Radix Wallet Connector browser extension

Alongside the mobile wallet, there’s also the Radix Connector browser extension. This piece of software for your desktop browser allows users to easily connect their Radix Wallet to a dapp on a desktop. It creates a peer-to-peer connection between the dapp and the user’s wallet. That means there’s no Infura or other middleman in between, enhancing security and privacy. 

3 – Start using dapps

After you’ve installed Radix Wallet and the Connector, it’s time to put things to the test. The first dapp live on Radix is the Gumball Club, a playground experience introducing various Web3 mechanics.

Radix Dashboard: For advanced users

Those who want to get a bit more from their experience using Radix, should take a look at the Radix Dashboard. This tool serves two purposes. Firstly it’s the Radix Network explorer, while it also serves as a dashboard to stake and claim XRD rewards from validators. 

The block explorer for the Radix Network allows users to search, track and access any transactional information on the public ledger. While the validator dashboard allows users to support validators, stake and unstake XRD, and claim XRD from validators for your support.

Radix for developers

Radix offers a nice framework for dapp developers to create decentralized applications, or dapps. With the launch of Babylon on the Radix mainnet, there are two tools available that will enhance the ease of development. 

Developer Console (visit)

The Developer Console provides a simple UI to deploy packages to the network. In addition it can send raw transaction manifests through the Radix Wallet during testing without having to construct a web frontend. Lastly, it provides a tool to allow developers to configure ‘dapp definitions’ that provide an on-ledger description of a dapp and a verified listing of all of the components, resources, and websites that are part of that dapp. Additional developer tools are planned to be added to the Developer Console in the future.

Dapp Sandbox (visit)

The second developer tool in this list, is the Dapp Sandbox. This tool makes it easy for a developer to experiment with the kinds of requests that a dapp frontend can make to the Radix Wallet. Developers can then see the results in the wallet and the format of responses. This includes requesting Persona logins, lists of accounts, and also personal data. It’s a testing environment tailored for the Radix ecosystem. 

Closing words

The release of Babylon is a major step forward for the Radix community. It enhances the user experience, while making development easier. On DappRadar we have a variety of additional resources for Web3 users looking for more information about Radix. 

Learn more about Radix

Disclaimer — This is a sponsored article. DappRadar aims to provide accurate information, but readers should always do their own research before taking action. Articles by DappRadar can not be considered as investment advice.

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