AMA with Radix
• Introduction with Radix
Celeb | Decentralized Club:
1. Before we begin can you tell us a bit about yourself and your position on radix team
Piers from Radix:
Sure
I am Piers Ridyard, CEO of Radix
I got started in crypto back in mid 2015 when I started mining on the genesis block of Ethereum
From there I started my first crypto company, which I took through YCombinator and then exited to become CEO of Radix.
The Radix project started in 2013, with Dan, the founder. By comparison to him, I'm a crypto newbie!±
Celeb | Decentralized Club:
You should have a big bag if $eth
Piers from Radix:
haha, naw, I sold it too early
$12 per Eth
Learnt my lesson the hard way. Always Hodl. Always.
😆😆
Celeb | Decentralized Club:
2. What was the reason Radix was founded and did the mission change over time?
Piers from Radix:
Ha, interesting question
Radix was founded to give anyone, anywhere friction free access to the digital economy. This was created before we really understood the mechanism by which access to the digital economy would be given and what the main type of product that would be built and sold for the user on top of these networks would be.
In 2019 we started to become a lot more focused on what the actual problem that we were solving for the world were.
We realised that finance was the thing that was going to be most fundamentally disrupted by crypto. This was before DeFi was even a word we were talking about as an industry. But it was starting to become clearer that permissionless financial applications were going to become massively powerful on top of public ledgers.
It was at this point that we started to focus in on the specific use case of finance. And started to build the tools that would make it possible to compete with global finance using public decentralised ledgers.
By the start of 2020, we had re-worked our technology stack to specifically focus on decentralised finance, and then the DeFi summer came and we were blown away by the pace of innovation that resulted
Celeb | Decentralized Club:
Good
3. Can you capture the essence of Radix for us?
Imagine Radix being a young man looking to attract potential partners.
What is he looking for? What is his type in this stage of his life? Users, developers, community member, investors, traders, holders, ...
What would his opening line be?
Piers from Radix:
Hahaha
Radix is a prophet building a following.
He understands what is wrong with the world, and can see a way to change it if we all believe and work together.
To the developer:
Hi, my name is Radix, how would you like a world where you can build DeFi apps without having to worry about getting hacked, that don't cost a stupid amount of money to deploy, and that rewards to through developer royalties for any useful innovations you bring to the space?
To the user:
Hi, my name is Radix, how would you like a world where you have complete control over your money? How would you like a world that money to be able to access the best possible investments? How would you a world without paperwork, and your financial universe could be accessed at the single click of a button?
To the community member:
Hi, my name is Radix, come be part of the next global technology revolution. It is happening now and the opportunities are as big as your imagination can make them.
Celeb | Decentralized Club:
4. Are there any other players that Radix has to compete with?
How does Radix stand out from them as the more desired partner?
Piers from Radix:
Sure. We compete with everyone else trying to become the home of DeFi. We will win because Radix is the only decentralized network where developers will be able to build quickly without the constant threat of exploits and hacks, where every improvement will get rewarded, and where scale will never be a bottleneck.
Celeb | Decentralized Club:
5. If Radix is chosen, what token of appreciation would he give?
In other words, can you tell us more about the role of the Radix token?
Piers from Radix:
Hahaha, oh dear me
Celeb | Decentralized Club:
😂😂
Piers from Radix:
The Radix token is pretty straight forwards. It is a fixed supply token, with a maximum emission of 24Bn XRD.
300m XRD will be emitted every year for staking rewards, and anyone who stakes gets a share.
All fees on the network are burnt, either for creating components and using DeFi or just for doing simple transactions.
The initial supply of the network is 12Bn XRD.
• Community ask questions from Twitter :
Q1.
Celeb | Decentralized Club:
tell us more about olympia mainnet launch on june 30 what is the ultimate target of your project?
Piers from Radix:
Mainnet goes live on the 30th of June. This is called our Olympia release, and it will be also when our staking rewards go live, as well as transaction fee burn.
Celeb | Decentralized Club:
Fees generated are being burnt
Piers from Radix:
Yep
Ultimate target is to become the underpinning technology for the decentralised future of finance that will be the result of DeFi eating the world of finance by consistently delivering better financial products and experiences to consumers globally.
This is a 10 year journey, but it starts this year with the release of our mainnet this month.
Q2.
Celeb | Decentralized Club:
Radix runs a dual token ecosystem, consisting of eRDX and RDX. Could you graciously give reasons for the dual token model? What are their possible utilities for eRDX and RDX and the value proposition/addition within your project ecosystem?
Piers from Radix:
Interesting question
It isn't a dual token, it is XRD either on mainnet or on Ethereum
You can think of eXRD as wrapped XRD on Ethereum
A bit like wBTC is wrapped Bitcoin on Ethereum
We built it to be a simple bridge between the Ethereum ecosystem and our own
Celeb | Decentralized Club:
Oh yeah i get it
Q3.
How would Radix play a role for the betterment of the crypto space and jave you done something regarding this?
Piers from Radix:
Haha - indeed we have!
Celeb | Decentralized Club:
Lols
Piers from Radix:
We founded the GoodFi initative
Our mission is to get 100m users to put $1 into DeFi by 2025.
Our members include Aave, Sushiswap, Avalanche, Chainlink, mStable, IDEX and another 20+ members, including other leading projects in DeFi.
We are building the resources to make it as easy as possible for new users to get into DeFi
This starts with our website: www.goodfi.com which will be expanding significantly over the next couple of months.
Celeb | Decentralized Club:
https://bit.ly/3voMFDY
• Quiz Segment :
Question 1 :
Celeb | Decentralized Club:
What is the Radix solution to build more quickly?
Cengizhan Tekin:
Ans. Radix Engine
Question 2 :
Celeb | Decentralized Club:
What is the Radix solution to build more securely?
あさと もし:
Ans. The building block hub
Question 3 :
Celeb | Decentralized Club:
What is the Radix solution to reward every contribution to the ecosystem?
Apocan:
Ans. Developer Royalties