Radix, a decentralized finance entity that focuses on Web3 development, has announced a new and exclusive project called the “Radix Foundry Program.” This program aims to support the incubation of decentralized applications (dApps) in high-potential categories to promote growth in on-chain activity and users. The company made the announcement on its official X account.
Introducing the Radix Foundry Program
This program supports the development of dApps in high-potential categories to drive significant growth in users and on-chain activity within the Radix ecosystem. Teams can receive up to $250k in funding to bring their vision to life. [image]
Radix Releases the Radix Foundry Program, Incubating dApps to Elevate On-Chain Activity
In addition to the announcement on X, Radix also published a blog post providing more details about the project. It highlighted the significant total value locked (TVL) collected by various entities within 9 months after the Babylon upgrade. These entities include decentralized exchanges like DeFi Plaza, Ociswap, and money markets like WEFT, which have amassed a TVL of over $30M.
Furthermore, decentralized apps such as XRD Domains, Trove, and ShardSpace offer a superior Web3 experience, while meme tokens like Hug and Early have attracted more users to the Radix ecosystem. Taking these successes into account, Radix is now introducing the Radix Foundry to further incubate dApps in high-potential categories. The company emphasizes that this project aims to drive substantial user growth, on-chain activity, and TVL.
According to the platform, the projects participating in this new endeavor will receive technical, business, and marketing support. RDX Works, along with providing support, will also offer funding of up to $250k to the participants.
The New Project Aims to Meet User Requirements
When discussing the high-potential categories for dApps, Radix identified four main user objectives. Firstly, crypto consumers primarily want to store and send value to others globally. The second objective is to have access to liquid markets for token trading. Additionally, users also seek opportunities to earn profits on their capital. Lastly, users want to engage in these activities for entertainment purposes. To meet these demands, the Radix Foundry invites proposals from projects in various categories, including liquid staking and restaking, stablecoins, collateralized debt positions, launchpad, NFT professional trading, yield derivatives, real-world assets, and borrowing and lending money markets.
