Piers Ridyard, CEO – Radix DLT
The big news of this report is that the final Radix token unlock is now complete. The decision to unlock the remaining (e)XRD tokens was taken due to the very high level of staking across a wide range of decentralized validator nodes, the success of the Olympia launch, excitement in the upcoming Alexandria release, and the strong community majority favoring unlocking the tokens.
Doing this final unlock now is one of the most effective ways to accelerate the distribution of stake, decentralization, and network adoption. It also means the Radix economics are now far easier to understand for both new and existing token holders as it is simply:
- 9.6Bn circulating supply (as the stable coin reserve is indefinitely locked)
- 12Bn total supply, with no more unlocks remaining.
- 24Bn maximum supply, which will take a minimum of 40 years to reach with the 300m annual XRD network emissions for staking.
- XRD will continue to be locked up in both staking on the network (currently over 1.5Bn XRD is staked) and locked in the Radix DeFi ecosystem as it develops.
- All transaction fees on Radix are paid in XRD, which are burnt. Over 15,000 XRD has already been burnt since the network went live on July 28th
Having completed the final unlock, Radix is continuing to solidify its position as a top-tier layer-1 protocol. Now, let’s check in with the team leads for updates!
Strategy & Marketing
Adam Simmons, Head of Strategy - Radix DLT
The last two weeks have continued to show high levels of engagement across the community, as well as social media channels. The marketing campaigns we have been running are working well, and with the help of all the Radvocates, more and more people are becoming aware of Radix.
- Since the final token unlock was completed, there has been over $65m of daily volume of eXRD and XRD.
- Across all our social channels, Radix followers are up over 10% in the last 14 days. We now have over 79k followers on Twitter, and should hit 6 figures in the near future!
- A big part of this is continued growth on the Radix Twitter account, which has generated 35 million impressions in the last 14 days, with an average of 374 likes per day.
- Radix DLT founder Dan Hughes has been working hard over the last few weeks and demonstrated a truly decentralized Twitter dApp deployed to his long-term research network, Cassandra. This will shortly be available on our YouTube.
- More influencers are looking at Radix, including The Cryptomist, Wagmisaurus, CryptoTony_ Bitcointrapper, CryptoNagato, and friend of Radix CryptoBirb. If you see people talking about Radix be sure to show them some love!
- 10,000 XRD is up for grabs in our latest meme competition! Remember to like and retweet your favorites!
Russell Harvey, CTO & Matthew Hine, Head of Product - Radix DLT
We’ve been steadily plugging away at features and updates for our services, as well as done a deep dive on how the JSON RPC API behaves after gathering community feedback. Please keep the suggestions coming, as even though we don’t respond to everyone, we do watch those channels closely!
On the Alexandria front, we’re full speed ahead with Scrypto development and tuning up our developer community strategy. Internal testing of early builds has us ahead of schedule, and we’re looking forward to sharing what we’re working on in the months ahead.
- A new Explorer release has gone out, which includes new staking hints as well as some behind-the-scenes improvements.
- New Wallet which permits targeting of Stokenet or an arbitrary node is now in testing, and is coming very soon!
- Lots of performance tuning for archive nodes, more news to come here.
- Improved Instapass’ ability to recognize documents from a few countries which people were consistently having difficulty with.
- Instabridge will allow upgrading of your AML tier beyond tier 2 no later than September 17th.
Media & Community
- Crypto Birb: Our friend Crypto Birb gave his followers an update on the full unlock which has reached 72.6k impressions on Twitter, with 7.8k views! See here. Since July 13th, Crypto Birb’s Radix-related tweets have seen 414,752 impressions which is equivalent to approximately 6.9k impressions per day!
- Reddit: The Radix community has been spreading the full unlock news on different channels and Reddit is only one of them. We have seen great posts on several top subreddits and reached up to 1k upvotes, 99% upvotes and 63 comments! Here is the post on CryptoMoonShots subreddit with over 776k members - don’t forget to upvote and comment!
- Turkey: The Turkish community has seen new-comers with the full unlocking news and they have started to go down the Radix’s rabbit hole immediately! The Radix Turkish family has added 305 new members to its community within two weeks! Our friend Kripto Emre shared the latest news about the full unlock reaching 37k views so far!
- Indonesia: The number of subscribers of the Indonesian Announcement channel has increased by 70.3%! Community members have also started sharing their opinions on Radix technology, recently a user called @qlause shared an article called “Cerberus: a blockchain killer (RadixDLT)“ on Medium.
- China: The Radix community is running a viral campaign around the token unlock in China. The first 200 people who spread the Radix Token Unlock in at least 5 different Chinese groups will be rewarded with a total prize pool of 5000 XRD.
- Gleam: The last gleam campaign has seen 2311 unique participants. Thanks to everyone who participated, enjoy your prizes! If you fancy a giveaway of $500, hop onto the next giveaway campaign here!
*Updates provided by members of the Radix community. It may contain inaccuracies.