- Radix Rewards and Hyperlane reported major growth in the first week since launch.
- Total value locked (TVL) on Radix nearly doubled, nearing the $10 million milestone.
- Decentralized exchange (DEX) trading volume rose by over 50% week-on-week.
- Season 1 Radix Rewards now includes perpetual trading on the Surge decentralized exchange.
- Trading volumes on Surge will earn users double reward points starting September 15.
Radix and Hyperlane have seen significant activity during their first week live. According to official data, total value locked on Radix is approaching $10 million, while DEX trading and on-chain transactions showed marked increases. The surge in usage is linked to the recent start of Radix Rewards and the launch of Hyperlane.
Within a week, reported figures indicate the amount of assets locked on Radix almost doubled. Decentralized exchange volume increased by more than 50% compared to the previous week. On-chain transactions multiplied two to three times daily, and the volume of XRD tokens burned in fees also more than doubled.
Radix is close to reaching the $10 million TVL milestone. Hitting this target will trigger an extra allocation of 10 million XRD tokens for the current Radix Rewards pool. A new feature for Season 1 Radix Rewards allows perpetual trading on Surge, a decentralized platform where traders can take long or short positions against cryptocurrencies. Surge enables trading with up to 50-times leverage and supports various order types, such as market, limit, and stop-limit orders.
According to the official announcement, users can earn Radix Rewards points across all trading pairs on Surge, including BTC, ETH, SOL, XRD, and others. Starting September 15 at 00:00 UTC, the program will double point rewards for trading activity on both DEXs and Surge for the following week, boosting opportunities for participants to climb the rewards leaderboard.
Adding Surge to the Radix Rewards program aims to expand participation in the platform by rewarding many types of DeFi activity. Season 1 is one of the largest incentive events in decentralized finance, offering up to one billion XRD in rewards based on user activity across trading, lending, and liquidity positions.
Stakeholders can find more information or sign up to participate at incentives.radixdlt.com.
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