The Radix network has a lot planned for 2024. The future of Web3 and DeFi will be built on the world’s first “Digital Asset Engine”. Some innovative dApps are already live and now the next big step is coming with Project Ignition.
This is one $10 million liquidity initiative, which aims to improve liquidity for USDC, USDT, wBTC and ETH. Liquidity providers who would like to participate in the project can look forward to extensive added value.
The 3 most important advantages for liquidity providers
- For every dollar provided by the liquidity provider, the same amount of Radix token (XRD) is made available. This effectively doubles liquidity.
- As a further incentive, liquidity providers receive immediate cashback for the assets they provide. Payment is made in XRD amounting to up to 20 percent of the deposit. The exact amount depends on how long you provide the liquidity, although the lock-up period can be between nine and twelve months.
- Last but not least, liquidity providers can look forward to comprehensive protection. They are significantly insured against temporary losses of the XRD tokens because they only contribute their liquidity in wBTC, ETH, USDT and USDC. If the asset provided outperforms the RADIX token, the liquidity provider also receives a value guarantee for up to four times outperformance.
Join now and benefit
Project Ignition will start on March 14th and will be integrated into the leading Radix DEXs Ociswap, CaviarNine and DefiPlaza. That’s why now is the optimal time for users to join Radix in the $10 million project.
Participation is possible in the following 5 steps:
- First, the “Radix Wallet and Connector” extension is required. Download this to your device and install the software.
- An Instabridge account is required to exchange eXRD for XRD and send ETH, WBTC, USDC and USDT to the Radix network. All assets issued by Instabridge are denoted on the Radix network with an “X” at the beginning (e.g. xETH).
- Liquidity providers also require the KYC service Instapass. There they can verify their identity and link to the Instabridge account to transfer the assets. Sign in with Metamask.
- After successfully linking, you can exchange tokens between your own Ethereum wallet and the Radix wallet via Instabridge.
- With the assets in your Radix wallet, you could now connect to your preferred dApp to provide liquidity to Project Ignition’s pools.
With Project Ignition, users will have an attractive opportunity from March 14, 2024 Bringing liquidity into the rapidly growing Radix network and enjoy financial benefits.
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