Radix believes that Decentralized Finance has the potential to change the world. However, there are quite a few problems with DeFi. This is where Radix comes in. Radix’s consensus algorithm is designed specifically with DeFi in mind.
Radix runs on the consensus algorithm Cerberus. It provides the groundwork for the delivery of a public network through linear scalability. Linear scalability means a public ledger can seamlessly scale, enabling it to scale up to thousands of nodes and billions of users. Once ready, this can solve network congestion issues faced by others like Ethereum.
The early and broad spread of token distribution is significant. It ensures sufficient decentralization of the public network. It also gives people on the network incentives as quickly as possible from the moment of instantiation.
The sale of E-Radix tokens intends to promote the distribution of Stake. It also hopes to ensure a high level of decentralization prior to the release of the Radix mainnet.
ERC20 tokens are among the most commonly issued token types. They can also facilitate faster integration into the existing DeFi ecosystem like exchanges and wallets. This can assist distributed stake building.
E-Radix Token Sale
There has been considerable interest amongst people to purchase Radix tokens. To make things simple, Radix created a simple token portal through which allocations can be claimed on a first-to-send funds basis.
The Radix token sale will go live on the 8th of October, 2020, at 18:00 UTC. The sale will continue to run until all tokens are sold out, or until the 10th of November, 2020, at 18:00 UTC.
A maximum of 642 million E-Radix tokens will be available to purchase, priced at $0.039 per token. Token allocations will be reserved on a first-to-send funds basis. All purchases are subject to a minimum purchase size of $5000 and a maximum purchase size of $2,000,000. The purchase must be made in USDC or ETH.
People who wish to buy the E-Radix tokens should get their ALM/KYC cleared with Altcoinomy, which is the regulated AML/KYC provider. The AML/KYC checks will need proof of ID, residential proof, and source of funds. The details will be verified over a video call.
Users who wish to send funds to purchase E-Radix tokens can do so only through the Radix token portal. The funds must also be sent from a personal wallet. If you send funds from an exchange wallet, you may not be able to access your E-Radix.
You can find the complete details of the Radix token sale here.
E-Radix token unlocking
To achieve a balance between the supply and demand of E-Radix tokens, the number of tokens unlocked will depend on the token market price. Only the tokens that have been unlocked will be available for staking and other purposes.
The unlocking mechanism will start on the 17th of November, 2020 and will continue on the Radix ledger once it has been instantiated.
Radix plans to create initial liquidity for the E-Radix tokens by launching it into the Ethereum DeFi ecosystem. This will enable the Radix community to provide liquidity directly. It will also give them opportunities to build holdings while also supporting the token. Launching on the Ethereum DeFi ecosystem will also help Radix gain awareness in the DeFi ecosystem.
An allocation of tokens has been reserved. This will incentivize liquidity provisions that are essential for the distribution of Radix tokens. These incentives are critical for the long-term goals of Radix and Radix token holders.
The Radix platform hopes to achieve a broad distribution of its token. This is essential so that a sufficient decentralization can take place. The token sale hopes to achieve a degree of decentralization before the release of the Radix mainnet. Upon the instantiation of the Radix Ledger, the E-Radix token can be exchanged for Radix tokens. The funds received from the token sale will be used in technology, marketing, and special projects.