Radix, the full-stack layer-1 smart contract platform, tightly integrates wallet, programming language, execution environment and consensus algorithm to provide a radically better Web3 and DeFi experience.
The world of Web3 has been buzzing over the last few months as Bitcoin has successfully reclaimed its all-time highs (ATHs), with altcoins following not far behind. Many are reporting that this could be the beginning of the 2024 crypto bull market, something completely unfamiliar to speculators as Bitcoin has never reclaimed an ATH prior to its upcoming halving.
But, while this market cycle has been different, one thing has remained the same — navigating the Web3 and DeFi ecosystem is still too complex, plagued by hacks and exploits, resulting in a user and developer experience that has left many scarred. Whether their alienation came from blind-signing their assets away to a scammer or a developer's project being exploited due to the complexity of developing in Solidity — a smart contract language — there is a solution, and it's called the Radix Tech Stack.
Overcoming poor user experience in Web3
The Radix Wallet revolutionizes DeFi transactions with its user-friendly design. Thanks to the Radix Transaction Manifest, it offers a clear preview of actions before approval. Designed with a mobile-first approach, it ensures easy and secure smart contract interactions across devices.
Radix Connect enhances desktop decentralized application (DApp) usage, while Radix Personas empowers users to manage their Web3 identities securely. This wallet is at the forefront of simplifying and securing the crypto user experience.
Radix Wallet has now seen over 20,000 downloads across iOS and Android and has a strong development roadmap, with new features and improvements being shipped regularly.
For Radix, it's not just about ensuring a better user experience; many of the issues with Web3 and DeFi today are spawned from a poor developer experience. Many hacks and exploits can be associated with a Web3 developer having to use coding languages that are far too complex making it easier for exploitable mistakes in the code of their DApps.
To solve this issue, Radix developed Radix Engine and Scrypto. The Radix Engine, a cutting-edge alternative to the Ethereum Virtual Machine (EVM), together with Scrypto, an innovative programming language, marks a significant leap forward in the DeFi and Web3 spaces.
Unlike traditional smart contract platforms, where assets are treated as secondary elements, leading to complex and unsafe interactions, Scrypto allows for asset-oriented programming. By drastically reducing the amount of code needed to build applications and making asset interaction intuitive, Radix sets a new standard for secure, efficient, and innovative DApp development, poised to catalyze a new wave of developer adoption and DApp innovation.
#Breakout2024
On March 5, 2024, Radix announced #Breakout2024, releasing a video teasing partnerships, massive liquidity growth, a multimillion-dollar user onboarding campaign, a world record throughput attempt and many more plans for the year ahead.
Piers Ridyard, CEO of RDX Works, gave clues to breakout DApps joining the network, institutional capital flowing through the Radix DeFi ecosystem, more tier-one exchange listings and, most importantly, a focus on trustless bridging to open up the Radix Network to capital flows from competing chains.
DeFi liquidity with Project Ignition
It's all exciting stuff. The team further conveyed the importance of onboarding more liquidity to Radix with Project Ignition, which went live on March 14 and saw over $7 million of liquidity added to Radix decentralized exchanges (DEXs) in 5 hours.
Project Ignition, a liquidity incentives campaign worth more than $10 million, is designed to bring more liquidity in the form of USD Coin (USDC), Tether (USDT), Ether (ETH) and Wrapped Bitcoin (WBTC) onto the network. This will ultimately improve the opportunities for participants in the Radix DeFi ecosystem and the scale at which strategies can be executed.
Project Ignition also provides significant protection from impermanent loss. If a liquidity provider provides a crypto that outperforms XRD, that liquidity provider is guaranteed up to 4x protection for asset outperformance. That means Ociswap users can generate around 9% yield on your wBTC/XRD liquidity position, plus 23% in SPLASH token, and reclaim any impermanent loss in XRD tokens.
Following Ignition going live, the first perpetual DEX announced its arrival to the Radix ecosystem. The Perpetual DEX called Surge is a collaboration between leading Radix DEX CaviarNine, venture capitalist firm Keyrock and Oracle service Supra. Surge will launch with 100 tradable pairs and will leverage the full Radix technology stack to provide an industry-leading, secure, seamless and streamlined trading experience alongside an intuitive yet powerful liquidity provision system.
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