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About e-Radix
Key Points
- Radix is a layer 1 smart contract platform aiming to decentralize the $400 trillion global financial system.
- e-Radix (EXRD) is the wrapped representation of XRD on Ethereum, with a 1:1 exchange rate.
- eXRD was instantiated in November 2020 as an ERC20 token.
- eXRD will never expire, and its price is expected to be kept at parity with XRD by arbitrageurs.
- Radix founders: Dan Hughes (founder) and Piers Ridyard (CEO).
- Key milestones: Cerberus consensus algorithm (2020), Radix Tokens (Jersey)
About e-Radix
At the forefront of innovation, e-Radix is a pioneering force in the realm of cryptocurrency and blockchain technology, dedicated to fostering a decentralized future.
Introducing Radix: A Revolutionary DeFi Ecosystem
Radix is a pioneering layer 1 smart contract platform that originated from a profound question: how to decentralize the colossal $400 trillion global financial system, and subsequently, worked backwards to achieve this ambitious objective.
Following an extensive nine-year research and development odyssey, Radix is on the cusp of revolutionizing the DeFi landscape with its groundbreaking innovations: Scrypto, an intuitive, asset-oriented programming language; Radix Engine, the world’s inaugural programmable “DeFi Engine”; and Cerberus, a pioneering consensus algorithm that seamlessly integrates atomic composability with linear scalability.
Introducing e-Radix (EXRD): A Revolutionary Cryptocurrency
The E-RADIX token serves as the wrapped embodiment of XRD on the Ethereum network, denoted by the ticker symbol eXRD.
eXRD functions as a perpetual bridge between the Radix and Ethereum networks, facilitating seamless interactions between the two. Notably, it can be exchanged on a 1:1 basis with XRD, either through Instabridge or via traditional exchanges.
eXRD was inaugurated in November 2020 on the Ethereum network, manifesting as an ERC20 token, governed by the smart contract address: 0x6468e79A80C0eaB0F9A2B574c8d5bC374Af59414.
eXRD boasts perpetual validity, ensuring that there will never be a deadline for exchanging eXRD for XRD.
Given the 1:1 exchangeability of eXRD and XRD, arbitrageurs would likely strive to maintain price parity between the two tokens.
The Visionary Founders Behind Radix
Dan Hughes, a UK-based innovator, stumbled upon Bitcoin in 2012. Leveraging his expertise in telecommunications technology development, he envisioned the profound impact that blockchain technology could have on global finance and beyond. Following a year of meticulous research, he launched eMunie (later rebranded as Radix) on Bitcointalk in May 2013.
Over the ensuing five years, Dan dedicated himself to tackling the most pressing issue of the time: scalability. He conceived and experimented with numerous consensus architectures, including Blocktrees, Directed Acyclic Graphs (DAGs), Channelled Asynchronous State Trees (CAST), Tempo, and Cerberus, in a relentless pursuit of innovation.
In 2017, Piers Ridyard assumed the role of CEO, and the project underwent a transformation, adopting the new moniker Radix. This pivotal moment was accompanied by a successful fundraising effort, with notable investors Taavet Hinrikus, co-founder of TransferWise, and LocalGlobe, a prominent European venture capital firm, providing crucial support.
The groundbreaking achievement of Cerberus in 2020 marked a significant milestone with the creation of the world’s inaugural cross-shard, atomically composable consensus protocol, thereby unlocking the potential for limitless linear scalability.
In 2020, a significant milestone was reached with the establishment of Radix Tokens (Jersey) Limited, a Jersey-based entity situated in the Channel Islands, responsible for issuing XRD and overseeing the Radix Foundation treasury. At the helm of RTJL is CEO Andrew Jarrett.
In July 2021, the inaugural iteration of the Radix Public Network, dubbed “Olympia”, officially launched, marking a significant milestone.
In a groundbreaking move, the revolutionary DeFi development language, Scrypto, was unveiled in early access form in December 2021, poised to reshape the landscape of decentralized finance.
Radix’s “Babylon” release, slated to debut in the first half of 2023, marks a significant milestone as it brings production-ready smart contracts written in Scrypto onto the mainnet.
Unveiling the Unparalleled Radix: A Trailblazer in the Cryptoverse
Radix stands out across every tier of its technological architecture, offering:
A pioneering, asset-centric programming language, Scrypto, is poised to revolutionize the Web3 and DeFi development landscape by elevating tokens to a native, first-class citizen within the language, thereby dramatically enhancing the developer experience.
A pioneering virtual machine, Radix Engine (dubbed the world’s inaugural “DeFi Engine”), poised to revolutionize decentralized finance (DeFi) in a manner akin to how game engines transformed the landscape of game development.
A pioneering consensus algorithm, Cerberus, innovatively “interweaves” consensus across a vast, decentralized “shardspace”. By virtue of every transaction being inherently cross-shard and atomic, Cerberus achieves a distinctive synergy of atomic composability and linear scalability.
Objective
In a similar vein to wBTC, which enables the representation of Bitcoin within Ethereum’s DeFi ecosystem, eXRD facilitates the representation of Radix’s XRD token, thereby allowing its seamless integration into Ethereum’s DeFi ecosystem.
eXRD was introduced prior to XRD as a strategic measure to facilitate the widespread distribution of tokens before the commencement of staking, a pivotal component of Radix’s Delegated Proof of Stake system. This proactive approach effectively contributed to the further decentralization of the Radix Public Network.
Supply and Allocation Dynamics
Each eXRD is fully collateralized on a 1:1 basis by an XRD, securely held in trust with a reputable third-party custodian, courtesy of the Instabridge service.
As a wrapped iteration of XRD, eXRD boasts a maximum potential supply identical to that of XRD, given that this figure represents the maximum number of XRD units that can be converted into eXRD form.
The total supply of eXRD is dynamic, fluctuating as users continually unwrap eXRD tokens to redeem XRD and conversely, wrap XRD to create eXRD.