DeFi
Coingape: #Breakout2024: The rise of Radix
Web3 and DeFi need an upgrade, and Radix, a layer 1 network that offers an innovative experience for users and developers, believes it can provide just that. After launching smart contract capability in late 2023, Radix has seen remarkable growth. But it’s now moving into high gear with the launch of #Breakout2024, which is expected to make 2024 Radix’s flagship year.
The first phase saw TVL grow significantly after over $10 million was injected into the ecosystem. The next phase now focuses on expanding the Radix user base and on-chain activity.
Presentation Token Trekbuilt by dmany, designed to onboard the next wave of Radix DeFi users and to increase engagement within the Radix ecosystem, participants will be invited to complete Web3 quests exploring the Radix ecosystem and in return, they will be able to claim a share. over $120,000 in rewards.
Continued growth on Radix
Token Trek continues the momentum created by Project ignition, which marked the start of the #Breakout2024 campaign. Ignition boosted Radix TVL by injecting over $10 million worth of core assets such as xUSDC, xUSDT, xwBTC, and xETH into the Radix ecosystem.
This initiative quickly resulted in a 76% increase in Radix TVL within two weeks of launch, as well as a notable increase in on-chain activity, signaling strong engagement and adoption within the Radix ecosystem.
Strategic partnerships and integrations
Token Trek and Project Ignition are not the only goal; Radix is also looking to consolidate partnerships and integrations as part of its #Breakout2024 plans. Key partnerships such as LayerZero and Maya Protocol, a cross-chain liquidity and swap protocol, are already in the works. In fact, the Maya integration was put to a vote, with 95% of the Maya community voting in favor of integrating with Radix. The Maya protocol enables seamless flow of assets between Ethereum, Thorchain, Kujira, Arbitrum, Bitcoin and Radix, which is expected to significantly boost TVL and user growth.
Start your journey with Token Trek
Developed by social infrastructure startup dmany, Token Trek will help increase user numbers and on-chain activity by encouraging interaction within the Radix ecosystem.
The way it works is that dApps can add their own on-chain quests, and rewards are given to those who actively contribute to the growth of the ecosystem by completing the Web3 quests.
With over 20 Radix dApps to explore and over $120,000 ready to claim, Token Trek offers a fun and inclusive way to join a growing ecosystem.