After years of requests from over 40,000 Radix community members, Radix DLT today announced their plan to issue an ERC20 token in September 2020.
Radix – based out of London, UK – is building a decentralised finance (DeFi) protocol designed to provide frictionless access, liquidity and programmability of any asset in the world. Friction in our current global financial system costs stakeholders $71 billion annually. The rapid rise of DeFi offers an alternative to the status quo via its innovative and adaptable framework.
ERC20 tokens are one of the most significant and commonly issued tokens on the Ethereum blockchain. Radix is a Proof of Stake network and issuing an ERC20 token will facilitate building of a properly fully distributed staking network ahead of the launch of the Radix mainnet. This is intended to increase the security and decentralization of the Radix mainnet. The release of this token is designed to allow Radix to quickly integrate their new protocol into existing infrastructures such as exchanges and wallets prior to the mainnet launch.
Radix has partnered with Copper.co to provide enhanced security and institutional grade custody for any holder of Radix ERC20 token.
Copper is a world leading custodianship company which designed and developed the award-winning infrastructure which enables institutions to acquire, store, and trade digital assets in a manner that satisfies global token holder and regulatory standards. Its multi-signature safeguarding application allows institutions to have complete certainty that their assets are not at risk of theft, whether it be from hackers or bad players in the industry. Copper is also one of the few digital asset custody solutions to be insured against crime, including theft of fiat or digital assets — with a comprehensive policy brokered by Aon in London.
Copper will give Radix customers peace of mind. Their ‘Walled-Garden’ safeguard solution provides users with secure access to trading on the top 15 exchanges via a single view of the whole portfolio. Additionally, their inter-exchange custody seeks to eliminate the risk of internal fraud. This is done via APIs which are supported by multikey storage – a major reason why Radix partnered with them.
Here is what Radix CEO Piers Ridyard had to say:
“We are thrilled to be announcing our ERC 20 token and partnership with Copper for our custodian needs. We chose Copper because they combine highly secure, insured custodianship of digital assets – and share our vision to enable decentralized finance for everyone. Copper will be a valuable partner in conducting our ERC20 issuance to our expanding community, and can additionally provide professional-grade options for ongoing storage and crypto exchange trading. Further, we see many opportunities for us to continue to work with Copper in the future to bridge the gap from traditional finance to DeFi on Radix for users and companies.”
He finished by saying “The ERC20 token will help ensure that the Radix public network will be a truly decentralised finance platform that belongs to the community”.
Additionally, Dimitry Tokarev of Copper had to say:
“ The Radix token will enhance the DeFi space by adding liquidity and improving access. We are proud to be part of the process as an infrastructure provider. Our secure custody model will support the Radix team and their customers from token generation, through deployment, and safe storage thereafter. Copper’s Walled Garden will enable Radix’s institutional clients to trade quickly and securely between all of the leading digital asset exchanges. We look forward to building a safer, faster, and more secure DeFi space with Radix.”
The future of Radix looks promising. They listened to their community members and delivered. Because of their partnership with Copper, you can be sure you are in safe hands when they roll out the ERC20 token in the fall.
Founded in 2018 by Dmitry Tokarev, Copper Technologies provides a gateway into the crypto asset space for institutional investors, offering custody, trading, prime brokerage and more for over 100 digital assets with security, speed and control for its clients at the core.
It is committed to providing a flexible solution for institutional investors that can adapt to the changing crypto asset space, while enabling far greater transparency and control for asset managers.
Copper’s fully integrated products are unique in the crypto asset space. Other crypto custodians will often charge for withdrawals, lack clarity in trading locations, or offer poor security, and will usually offer a limited suite of services. Copper is different. Underpinned by multi-award-winning custody, Copper has built a comprehensive and secure suite of the tools and services required to safely acquire, trade, and store cryptocurrencies.
One of Copper’s best known products is its ‘Walled Garden’ infrastructure. The ‘Walled Garden’ is a custody architecture that provides secure inter-exchange transfers, giving institutional investors the ability to trade digital assets, easily and at a low cost.
Find out more at www.copper.co
Radix DLT is building a decentralised finance protocol that provides frictionless access, liquidity and programmability of any asset in the world. In a major technology milestone last year, the Radix team overcame the key issue of DeFi scalability by reaching over 1m transactions per second with their technology, a throughput over 5x higher than the NASDAQ at its peak. The team is now focused on refining its protocol in anticipation of its main net launch.