Radix, a decentralized finance entity dedicated to Web3 development, has unveiled an exciting new project known as the Radix Foundry Program. This initiative aims to nurture decentralized applications in promising sectors to boost on-chain activity and attract more users. The company made the official announcement on their X account.
The Radix Foundry Program is designed to support dApps in high-potential categories, driving growth in users and on-chain activity within the Radix ecosystem. Teams have the opportunity to receive funding of up to $250k to bring their innovative ideas to life.
In a recent blog post, Radix highlighted the success of various entities within the ecosystem following the Babylon upgrade, with decentralized exchanges like DeFi Plaza and Ociswap, as well as money markets like WEFT, collectively amassing a total value locked (TVL) of over $30M. Additionally, popular dApps such as XRD Domains, Trove, and ShardSpace have enhanced the Web3 experience, while meme tokens like Hug and Early have attracted more users to Radix.
In light of these achievements, Radix is introducing the Radix Foundry Program to further support and incubate dApps in promising categories. The initiative aims to drive user growth, on-chain activity, and TVL, providing technical, business, and marketing support to participating projects. In addition, RDX Works will offer funding of up to $250k to selected participants.
The focus of the Radix Foundry Program is to meet the needs of users within the crypto space. These include the ability to hold and transfer value globally, access to liquid markets for token trading, opportunities to earn profits on capital, and entertainment value. The program is open to proposals from projects in various categories such as liquid staking, stablecoins, NFT trading, yield derivatives, real-world assets, and borrowing and lending money markets.