The Radix Booster Grants program is a funding initiative designed to support and accelerate the development of decentralized applications (dApps) within the Radix ecosystem. Launched as part of the broader 250M $XRD ($10M+) Ecosystem Fund, this program aims to foster innovation and growth in the Radix network by providing financial support to developers and entrepreneurs.
- Background
- Purpose and Goals of the Grant Program
- Grant Structure
- 3.1 MVP Booster ($5,000)
- 3.2 Launch Booster ($15,000)
- 3.3 Refine Booster (up to $50,000)
- 3.4 Growth Booster (up to $140,000)
- Additional Support
- Application Process
- Eligibility Criteria
- Application Steps
- Review and Selection Process
- Funded Projects
- Impact and Outcomes
- Key Metrics and Achievements
- Ecosystem Growth Statistics
- Challenges and Future Developments
- Lessons Learned
- Planned Improvements
The Radix Booster Grants offer up to $160,000 in $XRD tokens to eligible projects, distributed across four consecutive tracks: MVP Booster, Launch Booster, Refine Booster, and Growth Booster. Each track is designed to support projects at different stages of development, from initial concept to market growth.
Key features of the program include:
- Financial support ranging from $5,000 to $140,000 per track.
- Networking opportunities with grant alumni and the Radix community.
- Co-marketing opportunities.
- Access to partner offers such as AWS credits and Hacken audits.
- Exclusive dApp features via the "Runs on Radix" campaign.
The Radix Booster Grants have supported a diverse range of projects, including decentralized exchanges, NFT marketplaces, gaming platforms, and infrastructure services. These grants play a crucial role in expanding the Radix ecosystem and driving adoption of the Radix network's unique technologies.
Background
Purpose and Goals of the Grant Program
The Radix Booster Grants program was established as part of a broader initiative to support and empower ambitious founders in building decentralized applications that will power the next wave of Web3 on Radix. The primary objectives of the program include:
- Accelerating ecosystem growth: By providing financial support to promising projects, the program aims to catalyze the development of a diverse range of dApps on the Radix network.
- Fostering innovation: The grants encourage developers to leverage Radix's unique technological features to create novel solutions in areas such as DeFi, NFTs, gaming, and infrastructure services.
- Attracting talent: By offering substantial funding and support, the program seeks to attract skilled developers and entrepreneurs to the Radix ecosystem.
- Improving user experience: Many of the funded projects focus on creating user-friendly interfaces and tools, aiming to make Web3 technologies more accessible to mainstream users.
- Enhancing ecosystem infrastructure: Some grants are allocated to projects developing essential tools and services that other dApps can build upon, strengthening the overall Radix ecosystem.
- Promoting community-driven development: The program encourages projects to actively seek community feedback and collaborate with other ecosystem participants.
By supporting projects at various stages of development, from concept to market growth, the Radix Booster Grants program plays a crucial role in realizing Radix's vision of a more accessible, efficient, and secure decentralized future.
Grant Structure
The Radix Booster Grants program is structured into four consecutive tracks, each designed to support projects at different stages of development. Teams can receive each grant once, with a total funding of up to $160,000 available per project across all tracks.
3.1 MVP Booster ($5,000)
The MVP Booster is the initial grant track, aimed at projects in their earliest stages of development. Key features include:
- Funding amount: $5,000 in $XRD
- Purpose: To support the development of a Minimum Viable Product (MVP)
- Eligibility: Open to projects building their first MVP either on Radix Stokenet (testnet) or as a beta version on Radix mainnet
- Goal: To help projects validate their concept and prepare for the next stage of development
3.2 Launch Booster ($15,000)
The Launch Booster is the second track, designed to support projects ready to deploy on the Radix mainnet. Key features include:
- Funding amount: $15,000 in $XRD
- Purpose: To facilitate the launch of the product on Babylon mainnet
- Eligibility: Projects that have completed their MVP and are ready for mainnet deployment
- Goal: To assist projects in transitioning from testing to live operations on the Radix network
3.3 Refine Booster (up to $50,000)
The Refine Booster is an optional track for projects seeking to improve their existing dApp. Key features include:
- Funding amount: Up to $50,000 in $XRD
- Purpose: To support improvements in the dApp and increase traction
- Eligibility: Projects that have launched on mainnet and are looking to enhance their product
- Goal: To help projects refine their offering and prepare for significant growth
3.4 Growth Booster (up to $140,000)
The Growth Booster is the final and largest grant track, aimed at supporting projects to reach their seed stage. Key features include:
- Funding amount: Up to $140,000 in $XRD
- Purpose: To support projects in achieving significant growth and reaching seed stage
- Eligibility: Projects that demonstrate strong potential for growth and have a clear plan for achieving it
- Application process: Includes pitching to the RDX Works Ecosystem investment team
- Requirements: Teams need to present a comprehensive plan for product development, business strategy, and marketing, along with a detailed budget
Additional Support
In addition to the main grant tracks, the program offers:
- Audit Grants: Additional funding to cover some of the costs of code audits
- Milestone rewards: Rewards for achieving specific milestones
- Fundraising rewards: Up to 10% of raised funds (capped at $50k) for projects that successfully raise external funding
This structured approach allows the Radix Booster Grants program to support projects throughout their development lifecycle, from initial concept to market growth and beyond.
Application Process
The Radix Booster Grants program has a structured application process designed to identify and support promising projects within the Radix ecosystem. This section outlines the eligibility criteria, application steps, and review process.
Eligibility Criteria
To be eligible for a Radix Booster Grant, applicants must meet the following criteria:
- Building a dApp on Radix: The project must be developed for the Radix network.
- Stage-appropriate: Applicants should apply for the grant track that matches their project's current development stage.
- Geographic restrictions: While the program is open to projects globally, some countries may be restricted. Applicants are advised to check the list of restricted countries.
- KYC/KYB compliance: All individuals and teams must pass Know Your Customer (KYC) or Know Your Business (KYB) checks to receive the grant.
Application Steps
The application process typically follows these steps:
- Initial Application:
- Fill out the application form, which takes about 30-60 minutes to complete.
- Include a brief 1-minute video introducing the team.
- Interview:
- If the initial application is approved, applicants are invited to a 10-minute interview call to discuss their project in more detail.
- Project Scope and Agreement:
- Work with the Radix team to define the project scope and set deadlines.
- Agree on the specific milestones that need to be achieved to claim the grant.
- KYC/KYB Process:
- Complete the necessary Know Your Customer or Know Your Business checks.
- Grant Claiming:
- Upon reaching the agreed milestones or deadline, submit a claim for the grant.
- The Radix ecosystem team will review and test the dApp to ensure the grant scope has been fulfilled.
- Payment and Promotion:
- Once approved, the grant payment process begins.
- The Radix team also initiates promotional activities for the project.
Review and Selection Process
The review and selection process involves the following:
- Continuous Review: Applications are reviewed on an ongoing basis.
- Evaluation Criteria: Projects are assessed based on their potential impact on the Radix ecosystem, innovation, team capability, and alignment with Radix's technological advantages.
- Feedback Loop: If a project is not selected, applicants are encouraged to refine their project and apply again when ready.
- Milestone-based Disbursement: Grants are distributed based on achieving agreed-upon milestones, ensuring accountability and progress.
The application process is designed to be thorough yet flexible, allowing for adjustments if projects face unexpected challenges or delays. The Radix team maintains open communication with applicants throughout the process to provide support and guidance.
Funded Projects
The Radix Booster Grants program has supported a diverse range of projects, contributing to the growth and development of the Radix ecosystem. These projects span various categories including DeFi, NFTs, gaming, and infrastructure. Below is a list of some of the key projects that have received funding:
Project Name | Category | Grant Amount | Key Features |
CaviarNine | DeFi | $15,000 | - Concentrated liquidity pools
- Decentralized order book
- Liquid staking pool
- Swap Widget |
Ociswap | DeFi | $15,000 | - Concentrated liquidity
- SPLASH 2.0 program
- Dynamic fee settings |
Weft Finance | DeFi | $15,000 | - Decentralized lending and borrowing
- 'Wefties' NFTs for loans
- Flexible collateral ratios |
DefiPlaza | DeFi | $15,000 | - Multi-token trading platform
- Single-sided liquidity provision
- CALM model for impermanent loss |
Fibonacci Finance | DeFi | $15,000 | - Financial risk services
- Custom risk engine designs
- On-chain liquidity management |
RadLand | NFT/Gaming | $15,000 | - NFT marketplace
- Bulk minting capabilities
- Support for Olympia network NFTs |
Impahla | NFT/Gaming | $15,000 | - NFT creation and management
- IPFS integration
- Market analytics |
InfiniteLabs | NFT/Gaming | $15,000 | - 3D game with NFT integration
- Multiple game modes
- In-game NFT marketplace |
XRD Domains | Infrastructure | $15,000 | - Domain management
- Namelets for record management
- Genus domains |
RadixCharts | Infrastructure | $15,000 | - Network analytics
- Real-time data on various metrics
- Ecosystem performance comparison |
ShardSpace | Infrastructure | $15,000 | - User interface for dApp interaction
- Portfolio management tools
- Explorer pages for network data |
Trove | Other | $15,000 | - Peer-to-peer trading tool
- Open Swap feature
- Complex asset combination support |
Gable | Other | $15,000 | - Income generation with LSU tokens
- Flash Loans
- Automated concentrated liquidity |
RadLock | Other | $15,000 | - Project asset-locking solution
- Liquidity locking
- Team vesting for token distribution |
Backeum | Other | $15,000 | - Content creator monetization
- NFT rewards for supporters
- Cryptocurrency integration |
Root Finance | DeFi | $5,000 (MVP Booster) | - Decentralized lending and borrowing
- Multi-asset support
- Health Bar tool |
Selfi Social | Social Media | $5,000 (MVP Booster) | - Chrome extension for X (Twitter)
- Web3 integration in social media
- Social DeFi interactions |
NFT Wars | NFT/Gaming | $5,000 (MVP Booster) | - Hero-centric idle mobile RPG
- NFT integration in gameplay
- Multiple game modes |
Impact and Outcomes
The Radix Booster Grants program has played a significant role in fostering the growth and development of the Radix ecosystem. This section highlights key metrics, achievements, and ecosystem growth statistics that demonstrate the program's impact.
Key Metrics and Achievements
- Grant Distribution:
- Over half a million USD distributed to builders in the Radix community since the launch of the first grants program in February 2023.
- Allocation of $170k in Booster Grants to various projects.
- Distribution of $90k in Milestone Rewards to encourage project progress.
- Over $20k in developer incentives, including Scrypto challenges.
- Project Diversity:
- Support for projects across various categories, including DeFi, NFTs, gaming, and infrastructure services.
- Funding provided to over 20 teams enrolled in the Radix Booster grants program.
- Developer Engagement:
- More than 100 applications received for the Radix Booster Grants.
- Increasing participation in developer incentives and Scrypto challenges.
Ecosystem Growth Statistics
- Total Value Locked (TVL):
- CaviarNine reported over $4 million in TVL as of November 2023.
- Ociswap contributed to pushing Radix into the top 100 by TVL on DeFi Llama, with over $2 million in TVL.
- User Adoption:
- Weft Finance reported over 300 active users, with more than 20 million $XRD staked through the platform.
- Trove facilitated over 200 swap offers and attracted more than 400 unique users.
- NFT Ecosystem Growth:
- Trove reported the swapping of over 90 NFTs within its platform.
- Impahla attracted 77 creators and 48 collections in its first two days of operation.
- Infrastructure Development:
- XRD Domains reported over 500 domains minted by Stokenet testers in the first week of their testnet going live.
- ShardSpace aimed to attract 500 unique users per month by the end of 2023, with plans to double this to 1000 by Q1 2024.
- DeFi Innovation:
- Gable Finance facilitated the borrowing of 1 million $XRD, showcasing the platform's capability in handling significant transaction volumes.
- DefiPlaza set a target of amassing at least 10 million USD in liquidity, a goal they had already surpassed on Ethereum.
These metrics and achievements demonstrate the significant impact of the Radix Booster Grants program on the growth and diversification of the Radix ecosystem. The program has not only provided financial support but has also catalyzed innovation, user adoption, and the development of critical infrastructure within the Radix network.
Challenges and Future Developments
The Radix Booster Grants program, while successful in many aspects, has faced challenges and identified areas for improvement. This section outlines some of the lessons learned and planned developments for the future of the program.
Lessons Learned
- Diverse Project Needs:
- The program has recognized that different projects require varying levels of support at different stages of development.
- This realization led to the creation of multiple grant tracks (MVP, Launch, Refine, and Growth) to better cater to projects at various stages.
- Importance of Community Feedback:
- Projects like Impahla demonstrated the value of incorporating community feedback early in the development process.
- This has emphasized the need for grant recipients to engage closely with the Radix community throughout their development journey.
- Balancing Innovation and Practicality:
- The program has learned to balance support for highly innovative projects with those addressing immediate ecosystem needs.
- This balance is crucial for both pushing technological boundaries and building a robust, usable ecosystem.
- Regulatory Considerations:
- As the crypto landscape evolves, there's an increasing need for projects to consider regulatory compliance.
- The program has recognized the importance of supporting projects in navigating these regulatory challenges.
Planned Improvements
- Expanded Funding Tracks:
- The program is considering introducing new funding tracks to address specific ecosystem needs, such as infrastructure development or interoperability solutions.
- Enhanced Mentorship:
- Plans are underway to provide more comprehensive mentorship to grant recipients, leveraging the expertise of successful projects within the ecosystem.
- Collaboration Initiatives:
- The program aims to foster more collaboration between grant recipients, potentially through joint hackathons or collaborative project opportunities.
- Streamlined Application Process:
- Based on feedback, there are plans to further streamline the application and review process to reduce turnaround times and provide quicker feedback to applicants.
- Focused Ecosystem Development:
- The program is identifying key areas within the ecosystem that require development, such as lending platforms, real-world asset tokenization, and advanced NFT functionalities.
- Future grant rounds may prioritize projects addressing these specific needs.
- Increased Support for Post-Launch Growth:
- Recognizing that many projects face challenges after initial launch, the program is exploring ways to provide continued support for marketing, user acquisition, and scaling.
- Integration with Radix Foundry:
- The Radix Foundry program, which offers up to $250,000 in funding for high-potential projects, is being more closely integrated with the Booster Grants program to provide a clear growth path for successful projects.
- Community Governance:
- There are discussions about introducing elements of community governance in the grant selection process, allowing the Radix community to have a say in which projects receive funding.
These planned improvements aim to enhance the effectiveness of the Radix Booster Grants program, ensuring it continues to drive innovation and growth within the Radix ecosystem while adapting to the evolving needs of projects and the broader crypto landscape.