London, England, 14th March, 2023
The only smart contract platform built for mainstream Web3, Radix, has announced that more than 50 projects are actively developing applications and tools for the Radix Public Network ahead of the launch of smart contracts. The launch of the Radix mainnet upgrade, Babylon, is scheduled for Q2 2023 and will see these projects go live. No project in the history of the industry has seen such a promising start to the ecosystem before there’s even a public network available.
The Radix mainnet upgrade will introduce smart contract capability, allowing developers to create powerful decentralized applications enhanced by programmable logic. Its deployment will be the biggest upgrade to the Radix network to date, marking the start of an era defined by DeFi innovation and driven by a wave of consumer-friendly dApps.
“The Radix Babylon upgrade is the start of a new era for DeFi where both builders and users can confidently and intuitively engage with Web3.” said RDX Works CSO, Adam Simmons “With over one hundred projects preparing to go live, Radix Engine and Scrypto are already proving to be powerful catalysts for rapid ecosystem growth.”
The 50 projects that have begun development on Radix in preparation for the Babylon mainnet cover the full range of DeFi services. They are developing primitives for trading, saving, lending, borrowing, gaming, NFTs, wallets and much more. DEX trading will come courtesy of Ociswap, CaviarSwap, and AlphaDEX, some of which already process impressive trading volume – competing with the top 5 DEXes on popular networks like Cardano and Near. Aggregators will be provided by Astrolescent and DSOR.
Some notable projects deploying on Babylon, like DeFi Plaza, have already released successful dApps on other L1 and L2 networks. This gives them deep experience of deploying cross-chain, growing a user base, and developing incentivization methods that will drive a sustainable economy, aided by robust tokenomic design.
Other projects confirmed to be building on Radix include Foton, which is a modular NFT marketplace that aggregates individual E-Commerce stores for Web3 digital assets like Amazon and Shopify into one, and Hermes Protocol, which connects businesses directly to their Web3 users while achieving a crypto-aligned level of privacy. Combined, the 100 projects building on Babylon will form a complete ecosystem that will provide Radix users with the tools they need for entertainment, learning, and financial independence.
The Babylon mainnet upgrade will harness Radix’s scalable network and asset-oriented technology to power an array of sophisticated, secure DeFi and web3 applications.
Radix is building Web3 the way it should be. The Radix ledger offers a full-stack for DeFi that can securely scale without breaking atomic composability. If you know what that means, you know it’s a big deal.
Backed by 10 years of research, testing, and focused development, Radix has a global community of thousands and a network value of around $500 million. To learn more, visit www.radixdlt.com.