In an exhilarating turn of events, Radix celebrates a monumental milestone as its ecosystem shatters records with a total value locked (TVL) exceeding an unprecedented $50 million for the first time.

Driven by the ambitious Project Ignition campaign, a $10 million initiative aimed at bolstering liquidity for assets like USDC, USDT, ETH, and wBTC, Radix's TVL witnessed an astounding surge, more than doubling from $23 million to $51 million within March alone. This surge catapulted Radix to the 52nd position on DeFiLlama's rankings, validating its robust growth and traction in the crypto sphere. The platform boasts a vibrant ecosystem teeming with diverse dApps, ranging from naming services to NFT collections and from memecoins to metaverses, all contributing to its upward trajectory.

The surge in TVL arrives on the heels of the rollout of Radix Wallet v1.5, a comprehensive upgrade now available on both iOS and Android platforms. The latest version enhances security and user experience, offering a detailed transaction history that can be filtered based on deposits, withdrawals, transfers, and staking activities. Additionally, Radix's integration with leading crypto tax software providers like Koinly and Blockpit ensures dedicated support for digital asset investors across the US, UK, and Europe.

Piers Ridyard, CEO of RDX Works, remarked:

"2024 promises to be a year of unparalleled excitement for Radix. Our rapidly expanding ecosystem of robust, secure, and user-friendly dApps is swiftly gaining recognition and momentum across the crypto market. Amidst numerous significant milestones achieved in a bustling March, the focus now shifts to the exciting applications and initiatives set to launch in the coming months as part of the Radix Ecosystem fund and #Breakout2024."

The Breakout 2024 presentation, a flagship event from Radix, has garnered over 1.8 million views on YouTube, providing a glimpse into the project's ambitious plans. Notable announcements include aggressive liquidity and user onboarding campaigns, multimillion-dollar ecosystem funds, and plans to attract institutional capital. Moreover, Radix's infrastructure is poised to attempt breaking the world record for throughput on decentralized networks, ultimately aiming to make Radix accessible to consumers worldwide within minutes.

Addressing the critical challenges of DeFi, Radix has received glowing endorsements from platforms like CoinBureau, which lauded the project for its innovative approach. With features such as the Scrypto programming language and Cerberus consensus algorithm, Radix is positioned to meet the demands of global finance for the next century and beyond.

Adam Simmons, CMO of RDX Works, added:

"Radix's strength lies in its passionate community, the driving force behind this exhilarating journey. To keep both new and existing advocates informed, regular events on X Spaces, YouTube, and more provide updates on the project's progress and upcoming initiatives. With the Babylon upgrade paving the way, Radix is embarking on an aggressive marketing campaign to accelerate user and developer onboarding, reinforcing its reputation as a frontrunner in DeFi innovation."

About Radix:

Radix stands as the sole full-stack, Layer 1 smart contract platform offering a significantly improved experience for both users and developers alike. With Radix, users can confidently navigate Web3 and DeFi to manage their assets and identities. For developers, Scrypto and Radix Engine provide a robust and secure asset-oriented programming paradigm, enabling seamless development of production-ready dApps that users will adore.