--- title: "Project Ignition" url: "https://radix.wiki/contents/history/project-ignition" updated: 2026-11-02 license: CC-BY-4.0 license_url: "https://creativecommons.org/licenses/by/4.0/" version: "1.0.0" --- # Project Ignition | Project Ignition | | | --- | --- | | Type | Liquidity incentive program | | Funded by | [Radix Tokens (Jersey)](/ecosystem/radix-foundation), [$10m grant in $XRD](https://www.radixdlt.com/blog/rtjl-token-holdings-update) | | Announced | [8 February 2024](https://www.radixdlt.com/blog/project-ignition-10m-liquidity-incentive-program-for-wrapped-assets-on-radix) | | Live | [14 March 2024](https://www.radixdlt.com/blog/project-ignition-is-now-live) | | Assets | xUSDC, xUSDT, xwBTC, xETH ([Instabridge](/ecosystem/instabridge)-wrapped) | | DEXs | [Ociswap](/ecosystem/ociswap), [CaviarNine](/ecosystem/caviarnine), [DefiPlaza](/ecosystem/defiplaza) | | Lock-up | 9 to 12 months | ## 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)](/ecosystem/radix-foundation) [granted $10m worth of $XRD](https://www.radixdlt.com/blog/rtjl-token-holdings-update) to fund the matching side. The [Radix blog announced it on 8 February 2024](https://www.radixdlt.com/blog/project-ignition-10m-liquidity-incentive-program-for-wrapped-assets-on-radix) and it [went live on 14 March 2024](https://www.radixdlt.com/blog/project-ignition-is-now-live) through three Radix DEXs: [Ociswap](/ecosystem/ociswap), [CaviarNine](/ecosystem/caviarnine) and [DefiPlaza](/ecosystem/defiplaza). The aim, in the [program's details document](https://www.radixdlt.com/project-ignition-details), 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](https://www.radixdlt.com/blog/project-ignition-is-now-live) 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](https://www.radixdlt.com/project-ignition-details) walks through the steps: 1. Acquire a wrapped asset: xUSDC, xUSDT, xwBTC or xETH, issued one-to-one by [Instabridge](/ecosystem/instabridge) after identity verification through Instapass, or bought with $XRD on one of the three DEXs ([announcement](https://www.radixdlt.com/blog/project-ignition-10m-liquidity-incentive-program-for-wrapped-assets-on-radix)). 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](https://www.radixdlt.com/blog/project-ignition-10m-liquidity-incentive-program-for-wrapped-assets-on-radix) 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](https://www.radixdlt.com/project-ignition-details) 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](https://radixtalk.com/t/2343) how to claim positions they describe as force-closed in March 2026. CaviarNine [announced in August 2026 that it was winding down](/ecosystem/caviarnine), 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. ## External Links - [Project Ignition: $10M+ Liquidity Incentive Program for Wrapped Assets on Radix – Radix Blog, 8 February 2024](https://www.radixdlt.com/blog/project-ignition-10m-liquidity-incentive-program-for-wrapped-assets-on-radix) - [Project Ignition is Now Live – Radix Blog, 14 March 2024](https://www.radixdlt.com/blog/project-ignition-is-now-live) - [Project Ignition Details (PDF) – Radix Publishing](https://www.radixdlt.com/project-ignition-details) - [RTJL Token Holdings Update – Radix Blog](https://www.radixdlt.com/blog/rtjl-token-holdings-update) - [How to claim force-closed Ignition positions (CaviarNine / DefiPlaza)? – RadixTalk](https://radixtalk.com/t/2343)