The post #Breakout2024 – The Year of Radix appeared on BitcoinEthereumNews.com.

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), positioning itself for a major breakout year in 2024. With TVL metrics now stable, the focus has shifted to the next phase; expanding the Radix user base and increasing on-chain activity. As part of the #Breakout2024 plans, which were announced in March and include major marketing campaigns, Radix has introduced Token Trek.  Token Trek, built by dmany, is a new community rewards program, launched with over $120,000 in rewards that any Web3 user can earn a share of by exploring the Radix Ecosystem. Designed to stimulate on-chain activity, Token Trek allows users to earn XP which can then be exchanged for  $XRD, and ecosystem tokens by completing a range of tasks utilizing the rapidly growing number of dApps already live on Radix as well as for participating in those project communities. 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 incentives 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,…

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Filed under: News - @ May 23, 2024 8:14 pm