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After a 30 year period of almost uninterrupted growth and prosperity, the world is facing war and economic uncertainty. The global markets, that once seemed so interconnected, are breaking in ways that we did not expect - with supply chain failure causing ripple effects that are touching all of us.
Yet, in that environment Radix is still growing.
With inflation running rampant, and trust in institutions such as governments and banks at an all time low, this should be the time for DeFi and crypto to shine. DeFi represents a promise to fix what was broken with the old world, give people somewhere safer to keep their money and build a new promised land of trustless, transparent finance.
Instead we got 3AC, Terra Luna, and Celsius. We got Ponzi economics and get rich quick schemes. Copy cats created noise and hype that meant the slower thinking innovation got lost and the red flashing lights were ignored from saner heads.
Yet in the depth of the bear market, Radix is still growing.
This is because, despite the wall to wall crap that crypto has brought, there is still the core of what made crypto great in the first place - the opportunity to reshape the global financial landscape for the better.
The last bull cycle promised that journey was going to be easy; here’s the hard truth - it’s not. The era of a new dApp getting billions of dollars under management by one developer in a few months is gone. Instead all of us, the builders, the true believers, are going to start demanding that what is built is actually better than what came before.
We need to build for the user, not just for the technology.
So how is Radix bringing about that change? That too has been a long and hard journey. A journey that started with looking honestly at what the actual challenge was: how do you build a system that a $400T global financial system can build on top of?
The answer is - it starts and ends with the people it serves.
After many, many iterations, deep research and development, and hundreds and hundreds of user feedback sessions and focus groups we are starting to see a picture emerging - one that has resulted in Scrypto, in Cerberus, in the Radix Engine, as well as strategically important services like Instapass and Instabridge.
We call everything together the “Full Stack for DeFi” - it isn’t just one thing; it isn’t just one widget that is better than Solana, or Avalanche, or Cosmos or Sui - we have re-thought everything to work together. We aren’t a one liner, we are a full punch. And the punch is this - we are building something that the world can trust its financial future on. It isn’t a fast journey, but it is the right one.
As a result, Radix isn’t just better, it is radically different from all the things that have come before.
That approach is already bearing fruit - transaction volume on the Radix ledger is already up 7x, and this is before smart contracts are live. There has been a 52% increase in the number of wallets with a balance of over 2k since the start of the year, and growth in total wallets has gone from 11.6k to over 81.3k, all the way through a bear market.
Babylon, the first point that it is possible to launch a dApp on Radix, is coming next year. Babylon Alphanet just launched and it concretely shows that the Radix Full Stack for DeFi, capable of making DeFi appealing to the mass market, is a reality, not hype.
The recent listing of native XRD by top exchanges, including LBank, WhiteBit and BitMart (and KuCoin and HitBTC imminent) is strong validation that the market is recognizing the importance of what is coming.
Now we are turning our attention to Babylon Betanet in December and the December 8th Rad Fi 2022 event, where we will help even more people understand the unique Radix vision and solution for the future of Decentralized Finance.
We want to help people live the lives they imagine are possible and we see a DeFi network capable of supporting the entire global economy as the way to help them do that.