The asset-oriented blockchain Radix is looking to grow its ecosystem with the establishment of its official Radix Grant Program. It’s accepting applications now from any developer’s who’re serious about building projects on its infrastructure.
Radix is a unique asset-oriented smart contract platform purpose-built for DeFi that aims to tackle the most pressing problems in the wider DeFi space. Its design is based on sharding and allows it to scale in a linear fashion without breaking atomic composability, allowing it to meet the needs of an unlimited number of DeFi apps while ensuring they can all interoperate with one another with no limitations.
Crucially, Radix also helps to beef up smart contract security. Rather than use traditional Turing smart contracts, it has come up with a radically different architecture that’s based on finite state machine components developers can piece together, akin to Lego bricks, to create decentralized applications with complex functionality.
To encourage people to build on Radix, it also offers a unique, on-ledger royalty system where developers can charge fees for each time someone uses a component they contribute to its catalog.
While Radix positions itself as being the perfect platform for DeFi, it says its grants program is open to anyone who’s considering building a DEX, lending dApp, stablecoin, oracle, aggregator, yield farming, bridge, NFT or GameFi project on its blockchain.
The Radix Grants Program offers quite a few incentives and is really more of an accelerator course, with chosen projects entitled to receive $30,000 worth of XRD tokens, a bi-weekly one-on-one with a Radix mentor, regular masterclasses with the RDX Works leadership team, where they’ll learn about key project building aspects such as product development, community building, customer interviews and tokenomics. In addition, RDX Works will provide guidance on issues such as cybersecurity, compliance and incorporating a company, and help with user testing. Each of the chosen projects will be promoted to the wider Radix community via its official social media channels, and there will be an in-person bootcamp for devs that will be held in Europe sometime between Feb. 6 and Feb. 17.
RDX Works said it’s looking to choose five projects for phase one of the Radix Grants Program, which will begin in February and run for 12 weeks. It’s also planning to launch a second program in the second quarter.
RDX Works Chief Executive Piers Ridyard said the Radix team has seen all manner of expensive and self-centered mistakes made by other ecosystem-focused initiatives, and stressed that his team has learned from them. “Like everything else at Radix, we have intentionally designed the Radix Grants Program to equip serious Web3 developers with the tools they need to be successful,” he said.
To apply for the Radix Grant Program, developers are required to have either a minimum viable product, or a working plan on how they will quickly deliver one. Other requirements include being able to demonstrate their ability in community building, and a willingness to undergo KYC checks and incorporate a company.