Radix, the DeFi-focused smart contract platform with a rapidly growing developer community, has announced that its testnet named Babylon Alphanet is now live.
Radix’s native token XRD has also been listed on multiple major crypto exchanges, the platform revealed on Thursday via a press release shared with Invezz.
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Babylon Alphanet testnet goes live
Babylon Alphanet is Radix’s latest release following Alexandria, which launched in 2021 and introduced the asset-oriented programming language Scrypto.
As a full-stack solution for the decentralised finance ecosystem, Radix has designed Babylon Alphanet to test a new asset-oriented transaction model, introduce changes to how wallets interact and largely help bootstrap the Radix DeFi ecosystem for when the mainnet launches.
Alphanet will therefore allow the Radix’s 3000+ developer community to test new DeFi technologies and refine their dApps before an eventual rollout on the Babylon mainnent that’s expected to go live later this year.
Radix wants to bring the next phase of DeFi to the users, with new capabilities that improve on the current ecosystem’s that Piers Ridyard, CEO of RDX Works calls “demo DeFi.” He said of Radix’s Alphanet testnet:
“With the launch of Alphanet, developers and the rest of the world can see that there’s a path to 100x DeFi coming. Even through a bear market, our momentum is growing.”
Radix plans to launch Babylon Betanet in Q4, offering stable APIs, Scrypto dApps and third-party integrations. The rollout will then be followed by the Radix Public Network mainnet expected in the first half of 2023.
Major crypto exchanges list XRD
In addition to the testnet launch, Radix also announced that its native token XRD has now been listed on several major crypto exchanges, including Bitmart, WhiteBIT, and LBank.
KuCoin and HitBTC are also set to list the token, according to details the Radix team provided on Thursday.
The milestone, which follows the DeFi network’s 7x growth in transaction volume in 2022, signals the growing demand for XRD across the ecosystem, Andy Jarrett, CEO of Radix Tokens Jersey, Limited said in a statement.
“We spent the last 8 years building and refining a complete DeFi stack to support a $400 trillion economy, so it’s rewarding to see so many in the crypto community experience the Radix Revelation and join the movement.”
Listing on major exchanges opens up the XRD token to a larger trading market, with access to token pairs such as XRD/BTC and XRD/USDT now available.
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