RADIX WikiRADIX Wiki

Introduction

Project Ignition was a liquidity program on Radix that paired a liquidity provider's wrapped bitcoin, ether or dollar stablecoins with an equal value of $XRD, so that the provider supplied only one side of a DEX pool. Radix Tokens (Jersey) granted $10m worth of $XRD to fund the matching side. The Radix blog announced it on 8 February 2024 and it went live on 14 March 2024 through three Radix DEXs: Ociswap, CaviarNine and DefiPlaza.

The aim, in the program's details document, was to bootstrap liquidity for popular assets on Radix, reward the people who provided it, and protect them against impermanent loss, the shortfall a liquidity provider takes when the prices of the two assets in a pool move apart. The launch post expected the $10m to become $20m of pool liquidity once fully claimed.

How did Project Ignition work?

A provider deposited a wrapped asset and chose a lock-up between 9 and 12 months; the program added the same dollar value of $XRD and placed both in a Project Ignition pool on the chosen DEX. The details document walks through the steps:

  1. Acquire a wrapped asset: xUSDC, xUSDT, xwBTC or xETH, issued one-to-one by Instabridge after identity verification through Instapass, or bought with $XRD on one of the three DEXs (announcement).
  2. Open the Project Ignition link on Ociswap, CaviarNine or DefiPlaza, pick a compatible pool and a lock-up length.
  3. Sign the transaction the DEX builds. The program matches the deposit with $XRD and adds both to the pool.
  4. Receive an up-front, unlocked payment in $XRD and an Ignition LP Claim token, which redeems the position at the end of the lock-up.

The up-front payment ran from 12.5% of the deposit's market value for a 9-month lock to 20% for 12 months. In the document's example, $5,000 of xwBTC locked for 12 months earned $1,000 of $XRD at once and a claim token for the xwBTC, or its equivalent value, plus the trading fees earned on the xwBTC side of the pool. The program was first-come, first-served.

What protection did providers get?

Because the provider supplied only the non-$XRD side, the announcement described them as fully protected from impermanent loss when $XRD outperformed the deposited asset. When the deposited asset outperformed $XRD, the program guaranteed its value up to a 4x relative move and offered sliding protection beyond that.

The details document put that in its own example's prices: with $XRD flat for a year, bitcoin would have to rise from $45k to over $180k before a provider who locked xwBTC could not withdraw its current market value, and to $675k before they would withdraw less than half of it. The document notes that these figures leave out discounts for illiquidity and slippage on $XRD, and that its scenarios are illustrations rather than projections.

How do holders claim Ignition positions now?

A position opened on launch day with a 9- to 12-month lock-up reached its end date between December 2024 and March 2025, and each position is redeemed with its Ignition LP Claim token. On 30 October 2026 a holder of two "Ignition LP: Caviarnine" receipts asked on RadixTalk how to claim positions they describe as force-closed in March 2026. CaviarNine announced in August 2026 that it was winding down, and the holder reports that its interface offers no Ignition claim; their question is whether a transaction manifest can claim directly from the Ignition component that holds the assets. The topic had no answer when this page was written.

HydrateLast updated 2h agov1.0.01 revision
CiteRADIX Wiki. "Project Ignition." November 2, 2026. https://radix.wiki/contents/history/project-ignition