Get ready for the future of DeFi! The RDX Works team is headed to Consensus 2023, the premier event in the industry, and they're bringing five incredible projects built on the Radix network with them. From April 26th to April 28th, the teams will showcase the power of the Radix full stack, thriving ecosystem, and highly anticipated Babylon launch.
Consensus is where the best and brightest minds in the industry come together to discuss the future of Web3. And with RDX Works and the Radix Grants Program participant projects in attendance, you can expect the Consensus audience to come away with newfound revelations on the advantages of building dApps in an asset-oriented way; and how the Radix Wallet - unique among wallets - activates the Web3 user experience required for mass adoption.
With the recent launch of RCnet and Babylon just around the corner, it’s time that the Radix ecosystem gets the attention it richly deserves.
Radix Grants Cohort 1 At Consensus
Since the launch of the Radix Grants Program back in December 2022, it’s been fantastic to see how much progress has been made by the participants, ready to showcase their products at Web3’s most prestigious event.
If you’re unfamiliar with the participant projects, we’ve conducted plenty of Twitter Spaces and covered each project and its founding team; these articles can be found on our blog; here’s a quick rundown:
CaviarLabs
CaviarSwap is a centralized exchange that operates on the Radix network, but it has plans to transition to a decentralized exchange once smart contracts go live on the Babylon Mainnet. CaviarSwap aims to provide a safe and efficient swapping experience and bring a suite of professional products to Web3 users, builders, and entrepreneurs.
The team behind CaviarSwap aims to build a pool-styled DEX that is clean, fast, and capital-efficient for users. They are building their DEX on Radix rather than the Ethereum network to achieve this goal, citing Radix's speed, simplicity, affordability, safety, and scalability as key factors.
The unique selling point of CaviarSwap is its ability to provide single-pool liquidity, making it more capital-efficient for users to earn yield compared to competitor DEXs like Uniswap.
Foton
Foton is a game-changing NFT marketplace that seeks to simplify the world of NFTs and make it accessible and user-friendly for creators and traders. The platform combines the familiarity of OpenSea for trading, the seamless community-building experience similar to Discord, the ease of Shopify for store-building, and the vastness of Amazon for tokenized digital assets.
Foton aims to provide a new set of cutting-edge tools designed to help creators monetize their digital creations and grow their projects. By eliminating complex crypto jargon, Foton seeks to create a platform that is both intuitive and easy to use for creators and traders alike.
One of the standout features of Foton is its store-building capabilities. Like the Shopify model, Foton allows creators to build their own stores, giving them more control and creativity to build their brand and promote individuality.
Hermes Protocol
The world of decentralized technology is rapidly evolving, and businesses and Web3 users are seeking more efficient and secure ways to communicate and stay informed. Hermes Protocol, built on the Radix network, aims to bridge this gap by connecting businesses directly to their Web3 users while maintaining a high level of privacy and anonymity.
Hermes Protocol addresses the communication challenges of Web3 by providing real-time notifications on important on-ledger events, such as new Governance Polls, NFT sales, Validator changes, and more. This innovative approach protects users from financial losses and saves valuable time that would otherwise be spent scouring multiple websites for updates.
Moreover, Hermes Protocol enhances privacy and anonymity in the Web3 space by enabling dApps to send newsletters without requiring users to share their email addresses. This allows users to stay informed without compromising their personal information.
Ociswap
Ociswap is a user-friendly centralized, soon-to-be decentralized exchange that aims to provide a fast, smooth, and inexpensive trading experience. The platform features a potent combination of concentrated and protocol-owned liquidity, delivering a capital-efficient protocol that mitigates the occurrence of impermanent loss.
One of the key features of Ociswap is its concentrated liquidity, which allows for advanced liquidity-providing and rebalancing strategies, allowing skilled users to make the most out of their liquidity. At the same time, the platform supports active liquidity management, offering casual users multiple easy-to-understand strategies. This strikes a balance between casual and advanced users, making concentrated liquidity more accessible to everyone. Additionally, supporting single-sided liquidity lowers the entry barrier for casual users, as they only need one token to provide liquidity instead of a pair.
To avoid liquidity mining mercenarism, where liquidity providers jump from one opportunity to the next, Ociswap employs protocol-owned liquidity to incentivize and keep liquidity on the platform. Every listed project can easily deploy a protocol-owned liquidity component, allowing them to sustainably incentivize liquidity for their token by buying back liquidity at a discount. Protocol-owned liquidity also mitigates the occurrence of impermanent loss, as the liquidity and impermanent loss are owned by the protocol.
XRD Domains
The Radix Name Service (RNS) is a decentralized domain name system built on the Radix public network. Like the traditional Domain Name System (DNS) and Ethereum Name Service (ENS), RNS converts human-readable names into network addresses, making it easier for users to interact with the Radix network.
The RNS allows users to register a unique human-readable name (such as "myname.rns") as their address on the Radix network. This makes it easier for users to send and receive tokens, as they can use a simple name instead of a long and complex address. The RNS also enables users to associate other information with their names, such as social media links, email addresses, and other metadata.
Like the ENS, the RNS is built on a decentralized network of nodes that handle domain name registrations and resolution. This system is secured by the Radix consensus mechanism, ensuring a fair and transparent system for all users.
Overall, the Radix Name Service is an important tool for making the Radix network more accessible and user-friendly. By providing a simple and human-readable naming system, the RNS makes it easier for users to interact with the Radix network, opening up new possibilities for decentralized applications and services.
It’s time for Consensus!
From showcasing the upcoming Babylon network launch to highlighting the rapidly growing Radix ecosystem, the teams are ready to impress attendees with their commitment to delivering a radically better experience for developers, users, and entrepreneurs.
Join us in Austin, Texas, from April 26th to April 28th for a chance to experience the future of DeFi firsthand. You can find the RDX Works team and the 5 projects at booth 605.