felix_xrd Haseeb
$HIT
Addix is a community-led meme coin project built on the Radix blockchain platform. The project was conceived during a period of low sentiment and price in the Radix ecosystem, with the intention of giving back to the community and creating a fun addition to the platform. Addix's native token, $HIT, was created to serve as a means for "Radix Addicts" to "get their fix" within the ecosystem.
- Introduction
- History
- Project Overview
- Technology
- 4.1 $HIT Token
- 4.2 Rug-Proof Smart Contracts
- 4.3 Validator Node
- Tokenomics
- Features and Services
- 6.1 Rug-Proof Staking
- 6.2 Validator Node Rewards
- Team and Collaborations
- Core Team:
- Key Collaborators:
- Other collaborations:
- Community Involvement:
- Community Initiatives
- 8.1 HIT SQUAD
- 8.2 Community-Driven Development
- 8.3 Open-Source Contributions
- 8.4 Community Engagement Events
- 8.5 Validator Node Participation
- 8.6 Promotion and Fun Initiatives
- Future Plans and Roadmap
- 9.1 Continued Development of Rug-Proof Mechanisms
- 9.2 Enhanced Liquidity Strategies
- 9.3 Expansion of Validator Node Operations
- 9.4 Community Growth Initiatives
- 9.5 Ecosystem Contributions
- 9.6 Token Utility Expansion
- 9.7 Governance Implementation
Introduction
The project was founded by Felix_xrd, a long-term Radix supporter who discovered the platform through Dan Hughes' Tempo whitepaper on the Bitcointalk forum. Addix aims to differentiate itself from other meme coins by implementing novel features such as Rug-Proof smart contracts and focusing on community engagement and development within the Radix ecosystem.
Unlike many speculative cryptocurrency projects, Addix emphasizes that $HIT is not designed as a tool for speculationbut rather as a fun and engaging way for community members to interact with the Radix ecosystem. The project's core values include transparency, community involvement, and contributing to the broader development of the Radix platform.
As of 2024, Addix has implemented several key features, including a Rug-Proof staking mechanism, partnerships with other Radix projects like FOMO, and ongoing community initiatives such as the HIT SQUAD. The project continues to evolve, with plans for further development and integration within the Radix ecosystem.
History
Addix was founded by Felix_xrd, a long-term Radix supporter and enthusiast. Felix's journey with Radix began when he discovered the Tempo whitepaper written by Dan Hughes on the Bitcointalk forum. This discovery led Felix to become a dedicated Radix supporter, often referred to as a "Radix Maxi."
The project was conceived during a period of low sentiment and price in the Radix ecosystem, commonly referred to as an "ATL" (All-Time Low). The founders recognized that despite market conditions, there was a core group of supporters who remained committed to the Radix vision and community. This observation inspired the creation of Addix as a way to engage and reward these dedicated community members.
Key milestones in Addix's history include:
- Launch of the $HIT token: The project's native token was created with a total supply of 1,000,000,000,000 (1,000 B) tokens.
- Initial Liquidity Provision: On March 24, 2024, Addix provided initial liquidity exclusively through Ociswap, a decision made to avoid the risks associated with distributed liquidity at the early stages of the project.
- Collaboration with DogeCube: On March 26, 2024, Addix donated 12.7 B HIT to the DogeCube Basket Index, marking an early collaboration within the Radix ecosystem.
- Implementation of Rug-Proof Staking: In April 2024, Addix successfully tested and implemented its novel Rug-Proof staking mechanism, locking 127.5 B HIT tokens in a smart contract for future staking rewards.
- Tokenomics Revision: In May 2024, following community feedback, Addix revised its tokenomics, reducing founder allocations and dedicating more tokens to validator rewards.
- Partnership with FOMO: On June 9, 2024, Addix announced a partnership with FOMO to run a Radix Network Validator Node, further integrating the project into the Radix ecosystem.
- Validator Node Success: As of July 31, 2024, the ADDIX-FOMO Validator Node entered the Top 100 validators on the Radix network, marking a significant achievement for the project.
Throughout its history, Addix has demonstrated a commitment to community feedback, transparent operations, and contributing to the broader Radix ecosystem. The project continues to evolve, with ongoing initiatives aimed at enhancing user engagement and adding value to the Radix platform.
Project Overview
Addix is a community-led meme coin project built on the Radix blockchain platform. The project's name, "Addix," is a playful reference to the notion that supporters are "addicted" to the Radix vision, community, and the prospect of solving the blockchain trilemma.
The primary goals of Addix include:
- Giving back to the Radix community: Addix aims to reward and engage community members who have made significant contributions to the Radix ecosystem.
- Adding fun and engagement: As a meme coin, Addix is designed to be a fun addition to the Radix ecosystem, encouraging community interaction and engagement.
- Promoting transparency and trust: Through innovations like the Rug-Proof smart contracts, Addix aims to set new standards for transparency and trustworthiness in the cryptocurrency space.
- Contributing to the Radix ecosystem: Addix actively collaborates with other projects and contributes to the development of the Radix platform.
The project's philosophy is rooted in the belief that community-driven initiatives can play a significant role in the growth and adoption of blockchain technology. Addix emphasizes that while it is a meme coin, it is not designed as a tool for speculation. Instead, it focuses on creating value through community engagement, innovative features, and ecosystem contributions.
Addix operates with a strong emphasis on community feedback and involvement. This is evident in their willingness to revise tokenomics based on community input and their ongoing search for community members to join the HIT SQUAD.
The project leverages various aspects of the Radix platform, including its native token creation capabilities, smart contract functionality, and validator node system. By doing so, Addix not only benefits from the Radix infrastructure but also contributes to its ecosystem by demonstrating practical applications of these features.
As with all cryptocurrency projects, Addix comes with risks, and the project explicitly disclaims that nothing in their documentation should be considered financial advice. They encourage potential investors to conduct thorough research and exercise caution, reminding users that "it's just a $HIT Coin."
Despite its playful nature, Addix aims to be a serious contributor to the Radix ecosystem, blending humor with genuine utility and community value. The project continues to evolve, with ongoing development and new initiatives aimed at enhancing its role within the Radix community.
Technology
4.1 $HIT Token
The $HIT token is the native cryptocurrency of the Addix project. Key features of the token include:
- Total supply: 1,000,000,000,000 (1,000 B) tokens.
- Resource Address: resource_rdx1t4v2jke9xkcrqra9sf3lzgpxwdr590npkt03vufty4pwuu205q03az
- No further minting or burning capabilities.
The token is designed to facilitate interactions within the Addix ecosystem, including staking and participation in community initiatives.
4.2 Rug-Proof Smart Contracts
A key technological innovation of Addix is its Rug-Proof smart contract for staking. This contract was developed by forking and modifying Astrolescent's Staking Contract, originally written by Timan.
Key features of the Rug-Proof contract include:
- Locking of staking rewards in a contract that the founder cannot access.
- Trustless distribution of rewards according to a predefined schedule.
- Open-source code, encouraging transparency and adoption by other projects.
The technical implementation involves:
- Use of a OneResourcePool for user stakes.
- A Vault for future rewards.
- Restricted access to the deposit_rewards function.
4.3 Validator Node
Addix operates a Radix Network Validator Node in partnership with FOMO. The node's specifications include:
- Hosting: IONOS cloud server.
- Security: Firewall management, unlimited traffic, Wildcard SSL certificate.
- Data center compliance: ISO-27001.
- Hardware specifications:
- CPU: Intel® Xeon® E3-1230 v6 4 cores x 3.5 GHz (3.9 GHz Turbo Boost).
- RAM: 32 GB DDR4 ECC.
- Storage: 480 GB SSD (2 × 480 GB SSD) Software RAID 1.
The validator node operates with specific parameters:
- 100% fee.
- 15% of Addix tokens (150 B) allocated for node delegator airdrops over four years.
- 2/3 of generated XRD used for Addix buybacks.
- 1/3 of generated XRD used for FOMO buybacks.
This technology stack demonstrates Addix's commitment to security, transparency, and active participation in the Radix network's consensus mechanism. By leveraging Radix's infrastructure and adding novel features like the Rug-Proof contract, Addix aims to provide a secure and engaging platform for its community while contributing to the broader Radix ecosystem.
Tokenomics
The tokenomics of Addix have undergone revisions based on community feedback, demonstrating the project's commitment to transparency and community-driven decision-making.
Total Supply: 1,000,000,000,000 (1,000 B) $HIT tokens.
Initial Token Distribution (April 2024):
Revised Token Distribution (May 2024):
The revision in May 2024 was made in response to community feedback, particularly regarding the reserve allocation. Key changes included:
- Reducing founder and co-founder shares from 5% each to 2.5% each.
- Allocating the former reserve to validator rewards.
- Splitting the founder allocation between founder and co-founder.
Liquidity Provisions:
- Initial liquidity was provided exclusively through Ociswap on March 24, 2024.
- A donation of 12.7 B HIT was made to the DogeCube Basket Index on March 26, 2024.
- On May 27, 2024, 50 B HIT was added to a single-sided Liquidity Pool on DefiPlaza to increase liquidity provision.
Liquidity Strategies:
- The project has experimented with OciSwap "Splash as a Service" for liquidity pool rewards.
- Plans to use RadLock for locking liquidity provider (LP) receipts once available.
- Considering pulling out initial Founder LP provision on OciSwap and locking the remaining LP Receipt.
- Intending to add substantial liquidity to DefiPlaza's single-sided Liquidity Pools and subsequently lock these LP Receipts.
Founder Allocations:
- Reduced from 5% each for Founder and Co-Founder to 2.5% each.
- Plans to lock these allocations using RadLock once it becomes available.
- Considering time-lock (e.g., 4 years) or value-lock (e.g., when Addix market cap reaches $100m) mechanisms.
These tokenomics demonstrate Addix's commitment to fair distribution, community involvement, and long-term sustainability. The project's willingness to adjust its token allocation based on community feedback highlights its adaptability and focus on community-driven development within the Radix ecosystem.
Features and Services
6.1 Rug-Proof Staking
One of Addix's key innovations is its Rug-Proof staking mechanism, which was implemented in April 2024. This feature aims to provide a trustless and transparent way for token holders to stake their $HIT tokens and earn rewards.
Key aspects of the Rug-Proof staking include:
- 12.75% of the total $HIT supply (127.5 B tokens) locked in a Rug-Proof smart contract.
- Rewards distributed according to a predefined schedule.
- Trustless distribution of rewards, preventing the founder from accessing the locked tokens.
The staking mechanism works similarly to Radix's native staking system, using a concept of Liquid Staked Units (LSUs). When users stake $HIT, they receive StHIT tokens, which represent their stake in the pool. As rewards accumulate, the value of StHIT relative to $HIT increases, allowing stakers to benefit from their participation.
Staking rewards are distributed according to the following annual schedule:
- Year 1: 5%
- Year 2: 2.5%
- Year 3: 1.25%
- Year 4: 1.25%
- Years 5-8: Decreasing percentages from 0.75% to 0.625%
6.2 Validator Node Rewards
Addix operates a Radix Network Validator Node in partnership with FOMO, which entered the Top 100 validators on July 31, 2024. This node plays a crucial role in the Radix network's consensus mechanism and provides an additional avenue for community participation and rewards.
Key features of the Validator Node rewards include:
- 15% of the total $HIT supply (150 B tokens) allocated for validator rewards.
- Rewards locked in a Rug-Proof smart contract.
- Emission schedule starting from July 26, 2024.
The validator node operates with the following parameters:
- 100% fee.
- 2/3 of generated XRD used for Addix buybacks.
- 1/3 of generated XRD used for FOMO buybacks.
- Additional FOMO token airdrops for delegators upon successful entry into the top 100 validators.
The validator rewards emission schedule for the first year is as follows:
- Months 1-3: 20 B
- Months 4-6: 15 B
- Months 7-9: 12.5 B
- Months 10-12: 12.5 B
This dual reward system of Rug-Proof staking and validator node participation provides multiple ways for the Addix community to engage with the project and earn rewards. Both mechanisms are designed with transparency and community trust in mind, aligning with Addix's overall mission of contributing positively to the Radix ecosystem.
Team and Collaborations
The Addix project is built on a foundation of collaboration and community involvement, with a core team and various partnerships contributing to its development and growth within the Radix ecosystem.
Core Team:
- Founder: Felix
- Known as Felix_xrd.
- Long-term Radix supporter and enthusiast.
- Discovered Radix through Dan Hughes' Tempo whitepaper on the Bitcointalk forum.
- Described as a "Radix Maxi" due to his strong belief in the platform.
- Co-Founder: Haseeb
- Experienced developer with a passion for coding.
- Previously contributed to the Dexter project within the Radix ecosystem.
- Brings technical expertise to the Addix project.
Key Collaborators:
- Validator Partner: Team FOMO
- Led by FOMO Jim
- Collaborated on Staking and Airdrop Component
- Joint operation of the ADDIX-FOMO Validator Node
- Technical Collaborator: Don Marco
- Contributed to the development of the Rug-Proof smart contract
- Forked and modified Astrolescent's Staking Contract for Addix's use
- Art Collaborator: Endry Didier
- Contributes to the visual aspects of the Addix project
- Marketing Collaborator: Team $NOW
- Assists with marketing strategies for Addix
Other collaborations:
- Bot builders
- Radix Degens
- Helpful Coders
The Addix team emphasizes the importance of decentralization in their approach to collaboration. They bring in collaborators and consult advisors for specialized input as needed, reflecting their commitment to leveraging diverse expertise within the community.
Community Involvement:
Addix actively seeks community participation in various aspects of the project:
- HIT SQUAD: An initiative to recruit 1-2 outstanding community members as ambassadors, with the potential to join the team.
- Ongoing search for collaborators in different areas of expertise.
The project's collaborative approach extends beyond its own boundaries, with a stated goal of contributing to the Radix ecosystem and community as a whole. This is evident in their partnerships, open-source contributions, and active participation in the Radix validator network.
By fostering these collaborations and maintaining an open approach to community involvement, Addix aims to position itself as an integral part of the Radix ecosystem while promoting the growth and adoption of the platform as a whole.
Community Initiatives
Addix places a strong emphasis on community engagement and involvement, recognizing the importance of a vibrant and active user base in the success of a decentralized project. Several key initiatives highlight Addix's commitment to fostering a strong community:
8.1 HIT SQUAD
The HIT SQUAD is a prominent community-focused initiative by Addix. Its main features include:
- Recruiting 1-2 outstanding community members as ambassadors.
- Potential for ambassadors to join the Addix team.
- Focus on highly engaged and active individuals.
- Emphasis on contributing to HIT's long-term success.
This initiative demonstrates Addix's commitment to identifying and nurturing talent within its community, potentially creating a pipeline for future team members and project leaders.
8.2 Community-Driven Development
Addix has shown a willingness to adapt based on community feedback, as evidenced by:
- Revision of tokenomics in May 2024 following community discussions.
- Reduction of founder allocations from 5% to 2.5% each for founder and co-founder.
- Introduction of a 15% allocation for validator rewards.
These changes highlight Addix's responsiveness to community input and its commitment to transparent, community-driven development.
8.3 Open-Source Contributions
Addix contributes to the broader Radix ecosystem through open-source development:
- Rug-Proof smart contract made available for other projects to adopt.
- Collaboration on various community projects, including work with Team FOMO on staking and airdrop components.
8.4 Community Engagement Events
While specific details are not provided in the documentation, it's common for cryptocurrency projects like Addix to organize various community engagement events. These might include:
- AMAs (Ask Me Anything) sessions with team members.
- Community contests and giveaways.
- Educational webinars about the Radix ecosystem and Addix's role within it.
8.5 Validator Node Participation
The ADDIX-FOMO Validator Node serves as a community engagement tool by:
- Allowing community members to delegate their XRD to the node.
- Providing rewards to delegators, including both $HIT and FOMO token airdrops.
- Engaging the community in the broader Radix ecosystem through active participation in network validation.
8.6 Promotion and Fun Initiatives
Addix has allocated 5% of its total token supply (50 B $HIT) for promotion and fun activities. While specific details are not provided, this allocation suggests a commitment to:
- Organizing giveaways.
- Encouraging meme creation.
- Fostering community discussions.
- Other engagement activities that align with Addix's identity as a meme coin.
These community initiatives reflect Addix's understanding of the importance of an engaged and active community in the success of a decentralized project. By fostering open communication, encouraging participation, and providing opportunities for community members to contribute meaningfully to the project, Addix aims to build a strong, loyal user base within the Radix ecosystem.
Future Plans and Roadmap
While Addix does not provide a formal, detailed roadmap in the available documentation, several future plans and ongoing initiatives can be inferred from the project's communications and current activities:
9.1 Continued Development of Rug-Proof Mechanisms
Addix has demonstrated a commitment to developing Rug-Proof smart contracts and intends to continue this work:
- Potential expansion of Rug-Proof concepts to other aspects of the project.
- Encouraging adoption of Rug-Proof contracts by other projects in the Radix ecosystem.
9.2 Enhanced Liquidity Strategies
The project has outlined plans to improve its liquidity provision:
- Utilization of RadLock for securing liquidity once it becomes available.
- Consideration of pulling out initial Founder LP provision on OciSwap and locking the remaining LP Receipt.
- Plans to add substantial liquidity to DefiPlaza's single-sided Liquidity Pools and subsequently lock these LP Receipts.
9.3 Expansion of Validator Node Operations
Following the success of entering the Top 100 validators on July 31, 2024, Addix may look to:
- Increase the node's ranking within the validator set.
- Explore additional partnerships or node operations to further decentralize the Radix network.
9.4 Community Growth Initiatives
Addix has shown a strong focus on community engagement and may expand these efforts:
- Continued recruitment for the HIT SQUAD.
- Development of new community-driven initiatives and governance models.
- Expansion of promotional and fun activities using the allocated 5% of tokens.
9.5 Ecosystem Contributions
As part of its commitment to the Radix ecosystem, Addix may:
- Continue to collaborate with other projects in the Radix space.
- Develop new tools or services that benefit the broader Radix community.
- Participate in ecosystem-wide initiatives to promote Radix adoption.
9.6 Token Utility Expansion
While specific plans are not detailed, it's common for cryptocurrency projects to continually explore new use cases for their tokens. Addix may look to:
- Develop new features or services that utilize the $HIT token.
- Explore partnerships that could increase the utility of $HIT within and potentially beyond the Radix ecosystem.
9.7 Governance Implementation
As the project matures, Addix may consider implementing more formal governance structures:
- Potential introduction of a DAO (Decentralized Autonomous Organization) for community-driven decision-making.
- Development of voting mechanisms using $HIT or StHIT tokens.
It's important to note that as a "living document," Addix's plans and roadmap are subject to change based on community feedback, market conditions, and developments within the Radix ecosystem. The project emphasizes adaptability and community involvement in its decision-making processes, suggesting that future plans will likely evolve with input from the Addix community.