Radix raises £9.8m in Series A follow on funding through a public token sale to support decentralized finance development.
The public token sale drew participation from 652 contributors across 67 countries.
Radix develops a layer one protocol specifically built to support and scale decentralized finance applications. The platform introduces a secure and composable environment designed to resolve congestion and security issues in the sector.
Radix has raised £9.8m in a Series A follow on investment, corresponding to $12.7m raised through a public token sale. The funding round drew participation from 652 contributors across 67 countries. The capital will support the growth, decentralization, and development of its decentralized finance platform ahead of the mainnet launch planned for 2021.
The public token sale ran from October 8 to October 22, 2020, featuring strict compliance checks and a minimum purchase threshold. Tokens are scheduled for distribution starting in November, alongside additional community liquidity rewards planned for participants on Uniswap.
From the founder
"Distributing Radix tokens widely helps us achieve our goal to incentivize participants and ensure sufficient decentralization of the public network,"
Piers Ridyard
CEO at Radix
Categories
About the company
Radix
Radix develops the first layer one protocol built specifically for decentralized finance.