Radix, a “full-stack” Layer 1 network, has been busy building the foundation needed for the next generation of DeFi to thrive.
In the past six months, following the introduction of smart contract capabilities with the Radix Babylon Mainnet Upgrade, the Layer 1 protocol has significantly expanded its total value locked (TVL).
The flagship initiative of Radix’s #Breakout2024 campaign, Project Ignition, boosted Radix’s TVL by 76% within just two weeks of going live. This influx included $10+ million worth of core-wrapped assets into the ecosystem. With a stable TVL level now achieved, the next phase of #Breakout2024 focuses on mass user onboarding and increasing on-chain activity. This goal is set to be realized through their latest initiative, Token Trek.
Token Trek, developed by dmany, is a Web3 community engagement platform designed to attract more users and stimulate on-chain activity. Over $120,000 in rewards are available for exploring the ecosystem and completing Web3 quests.
Momentum on Radix
Token Trek follows the recent launch of Project Ignition in March 2024. Ignition was the first major event as part of the #Breakout2024 campaign, and saw $10+ million in liquidity injected into the Radix ecosystem. Project Ignition aimed to increase the amount of TVL of major cryptocurrencies such as USD Coin (USDC), Tether (USDT), wBTC, and Ether (ETH) in the Radix ecosystem.
Within two weeks, Project Ignition resulted in a 76% increase in Radix total value locked (TVL) and a significant increase in on-chain activity on Radix.
Radix increased its total value locked by 76% in two weeks. Source: Radix
Alongside Ignition and Token Trek, Radix is fostering new integrations as part of #Breakout2024, including LayerZero and Maya Protocol — a cross-chain liquidity and swap protocol that utilizes an innovative cross-chain liquidity mechanism.
The Maya community voted to integrate Radix, with over 95 percent of participants saying yes, demonstrating the excitement about the growth that a Radix integration will bring. This integration will allow for a permissionless flow of assets between Ethereum, Thorchain, Kujira, Arbitrum, Bitcoin, and the Radix network boosting the growth of TVL and users.
Getting started with Token Trek
If you’re new to Radix, Token Trek offers a gateway into its rapidly growing ecosystem. Several projects, like CaviarNine—the leading DEX on Radix—offer their own incentive programs, with liquidity providers potentially earning over $500,000 in $CAVIAR monthly.
Visit the Token Trek page and choose your first quest. As you hit XP milestones, users can claim their $XRD rewards. With more than 20 Radix ecosystem projects participating, you’ll have a firsthand look at the platform’s groundbreaking features, including the Radix Wallet, known for its sleek user interface and robust security measures.
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