Radix Tokens (Jersey), the issuer of the asset-oriented smart contract platform Radix, has raised $10 million in a private funding round led by DWF Labs. The investment gives Radix a $400 million valuation and arrives just in time for the launch of its Babylon mainnet, which will introduce smart contract capability to the platform for the first time.
DWF Labs, a global leader in market making and multi-stage web3 investment, led the funding round, with undisclosed blockchain VCs and angel investors also participating. The investment is a boost for Radix as it seeks to build out its high-throughput DeFi ecosystem.
The Radix platform currently hosts over 50 projects, including dApps for trading, saving, lending, borrowing, gaming, NFTs, and wallets. It is also running a grants program that provides funding and mentorship to six selected teams.
Radix’s Babylon mainnet launch has received support from DWF Labs, with the firm’s managing partner, Andrei Grachev, expressing excitement about the platform’s potential in the asset-oriented smart contract space. Radix Director Andy Jarrett also welcomed the support, calling it “fantastic.”
Backed by ten years of research and development, Radix has a global community of thousands and a network value of over $400 million. Its platform offers a full-stack for web3 without breaking atomic composability. DWF Labs, which trades almost 2,000 pairs with a daily volume that places it among the top five ranking entities trading on the world’s top 40 exchanges, seeks to invest in and support the founders who want to build the future of web3.
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This article was republished from azcoinnews.com