The Milestone Rewards, recently announced as part of the Radix Ecosystem Fund, are now officially live, with this initial set of rewards being offered to the first dApps who reached $1M Total Value Locked (TVL) on the Babylon Mainnet. TVL is a key metric in decentralized finance (DeFi) which assesses the health, security, and adoption of a Layer 1 protocol and its ecosystem. 

The first Milestone Rewards are attributed to:

• CaviarNine, the leading decentralized exchange on Radix, offers a smart trade aggregator, concentrated liquidity, LSU pool, and more!
• Ociswap, another leading decentralized exchange, focused on providing a comprehensive and user-friendly DeFi experience.
• DefiPlaza, Built on top of Radix and Ethereum, DefiPlaza is an innovative DEX that is designed to reduce the risk of Impermanent Loss.
• Weft Finance, a lending and borrowing application on Radix.

Each team receives a $10,000 reward paid in XRD. Milestone Rewards are distributed to dApps for outstanding achievements in the Radix ecosystem. Teams are encouraged to keep the RDX Works team informed of their progress by submitting updates through the Ecosystem Success Form. 

Are you developing a project on Radix and looking for funding opportunities to boost your progress? Apply now for the Radix Booster Grants, another key initiative of the $25M Ecosystem Fund, and receive up to $15,000 in XRD to support the development of your dApp on the Radix network.