Full-stack DeFi project Radix has announced plans to create an endowment of 1.50 billion XRD (worth $37 million) and will select an institution with more than $1 billion of cryptocurrency on its balance sheet to manage the fund, with selected partners using regulated cryptocurrency custodian Copper Custody to hold XRD assets and Twinstake to provide staking infrastructure where tokens can be deployed and staked as part of an overall strategy.
The endowment's goal is to create a sustainable source of token income for the continued growth of the Radix ecosystem, reducing reliance on the use of treasury tokens. The endowment will also help drive external investment or entry into the Radix ecosystem.
Radix plans to create $37 million XRD endowment
2024-08-24 05:44:16
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