Radix, the “full-stack” Layer 1 network, has prepared for a significant surge in the DeFi sector. Since upgrading its network with smart contract capabilities via the Radix Babylon Mainnet Upgrade six months ago, Radix has witnessed a substantial increase in its total value locked (TVL), setting the stage for an impactful year in 2024.
The latest initiative as part of the #Breakout2024 campaign, Token Trek, built by dmany, has set the goal of increasing user engagement and on-chain activity on Radix, offering over $120,000 in rewards for users who complete Web3 quests.
Token Trek is built upon the momentum of, Project Ignition, which launched in March 2024. This event marked the beginning of the #Breakout2024 campaign and introduced a $10+ million liquidity boost to the Radix ecosystem. Targeting major cryptocurrencies like USD Coin (USDC), Tether (USDT), wBTC, and Ether (ETH), the initiative aimed to substantially grow Radix’s TVL. Impressively, within just two weeks, Project Ignition amplified Radix’s TVL by 76%, along with a notable increase in on-chain activities.
In addition to Ignition and Token Trek, Radix is pushing forward with new integrations including LayerZero and the Maya Protocol—a cross-chain liquidity and swap protocol celebrated for its novel approach to cross-chain liquidity. With over 95% of the Maya community voting in favor of integrating with Radix, there is evident enthusiasm for the growth prospects this collaboration introduces. This integration is set to facilitate a seamless transfer of assets across various blockchains including Ethereum, Thorchain, Kujira, Arbitrum, and Bitcoin, further augmenting TVL and user engagement across the Radix network.
For newcomers, Token Trek provides an excellent entry point into Radix’s rapidly expanding ecosystem. Noteworthy projects such as CaviarNine, Radix’s leading DEX, are offering their own incentives, with liquidity providers potentially earning upwards of $500,000 in $CAVIAR each month.
To get involved, participants are encouraged to visit the Token Trek website, select their first quest, and start achieving XP milestones to earn their XRD rewards.
With participation from over 20 Radix ecosystem projects, users will gain direct exposure to the platform’s innovative features, such as the Radix Wallet, noted for its sleek interface and strong security protocols.
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