ChainCatcher news, Radix decentralized finance (DeFi) platform developer RDX Works has laid off 15% of its workforce to reduce costs. The company's CEO Piers Ridyard confirmed in a statement made on August 29 in the company's official Telegram group that the layoffs are part of a "refocus" and a "more comprehensive transformation" that needs to take place.Piers Ridyard stated, "One of those is cost-cutting. As part of the cost-cutting measures, we at RDX Works have made the difficult decision to reduce our total workforce by approximately 15%, and this decision has been completed today."It is reported that the Radix network officially launched its mainnet in July 2023, providing development tools to build and run decentralized applications (DApps) and financial services on the blockchain.

ChainCatcher news, RDX Holdings and Radix Foundation jointly announced the establishment of the Radix Donation Fund. The fund has 150 million XRD, aimed at supporting long-term ecosystem growth while providing financial support to entities involved in the development and growth of the Radix platform and ecosystem.The creation and selection process of the donation fund was initiated in the first quarter of this year, with shortlisted management institutions managing over 1 billion dollars in digital assets and having significant trading volume on centralized exchanges. They will provide support for the exchange adoption of Radix from an institutional perspective.The goal of this donation fund is to create a sustainable token generation source for the ongoing development of the Radix ecosystem. This will reduce reliance on using treasury tokens to fund activities and runway. The donation fund will also help drive external investment or co-investment into the Radix ecosystem.

ChainCatcher news, according to CoinDesk, Radix has launched a mobile Web3 gamified onboarding platform called RadQuest, aimed at enabling anyone to start using Web3 and DeFi on Radix. The team stated that RadQuest was developed in collaboration with ustwo, the digital product studio behind the mobile game Monument Valley.It is reported that by completing a series of onboarding tasks, users will be able to earn tokenized rewards, which can be combined into collectible 'RadMorph' NFTs.

ChainCatcher news, Layer 1 blockchain network Radix announced on its official blog that the Ignition project has been launched, which will provide $10 million in liquidity incentives, aimed at increasing liquidity for the Radix DeFi ecosystem. It is reported that supported platforms include CaviarNine, DeFiPlaza, and Ociswap.

ChainCatcher news, Layer1 public chain Radix announced a partnership with the interoperability protocol LayerZero, planning to integrate LayerZero with the Radix Babylon public network to encourage cross-chain communication and asset transfers to the Radix ecosystem. It is reported that the Web3 interoperability integration between Radix and LayerZero will be launched in the second half of 2023. (source link)

ChainCatcher news, Layer1 public chain Radix announced the completion of a $10 million financing round, fully invested by DWF Labs, with a post-investment valuation reaching $400 million. Radix CEO Piers Ridyard stated that DWF has already provided $8 million in funding, with the remaining $2 million to be provided in the near future.It is reported that Radix has its own consensus system and execution environment, expected to launch its mainnet named Babylon in the second quarter of this year. (source link)