The first milestone rewards were announced in February 2024. These rewards celebrated the first dApps reaching $1M Total Value Locked (TVL) on the Babylon Mainnet. Total Value Locked now sits at $40M at the time of writing, with Project Ignition boosting TVL to $53M at its peak just a few weeks ago. 

With TVL on the upward trajectory, it's time to take a closer look at other on-chain metrics; this time, celebrations will be in order for those boasting high on-chain volumes. The Radix network recently surpassed 1M transactions on the Babylon Mainnet, thanks to the growing number of teams building on Radix. 

This milestone reward will be distributed based on a three-tier system. 

Tier 1: This tier celebrates growing dApps and tools that have achieved at least 1M XRD in total volume. Credits go to:

• XRD Domains, which saw the Radix network transactions increase by 40% following their launch.
• Trove, which reached 1M XRD volume in January.
• Early, which introduced a bot for trading their coin and recently surpassed 1M XRD in total volume.
• DeFiPlaza, a DEX employing the CALM algorithm to minimize impermanent loss, currently boasts a cumulative volume of $1.75M.
• Weft Finance, which is the top lending dApp on Radix at the moment.
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Each team receives $5,000 in XRD. Congratulations to all!

Tier 2: Ociswap deserves a round of applause for surpassing $30M in volume since the Babylon update. The team will be rewarded with $10,000 in XRD.

Tier 3: A special mention to CaviarNine, currently the leading dApp on Radix, for crossing the $50M volume mark post-Babylon. The team is awarded $15,000 in XRD. Congratulations!

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.