Exploring Radix: Enter Caviar’s DeFi world

May 15, 2023

In conclusion

Thrilled to cite Grant's masterful analysis in this article; truly one of the best breakdowns of a relatively complex protocol (Radix) that you could possibly come across. 

Why’s this worth mentioning, you may ask? 

The guys at CaviarNine have chosen to build DeFi applications on Radix, a Layer 1 network. And Grant’s relevant to this because this piece on Radix is a good place to start to get better acquainted with the Radix ecosystem. 

Not only is Caviar an exquisite moniker for a cutting-edge software development company, but it is also the first of many projects that qualified for the Radix grant, and the first from a number of six projects that we will be looking into in our “Exploring Radix” series. 

Caviar Nine

Caviar’s team of 8 individuals are based across Thailand, Singapore, and Australia with Oliver-Scott Simons and Chris Colman leading the band as co-founders. 

The team is focused on building a unique combination of financial products on the Radix blockchain leveraging the high throughput and rapid finality of the Radix network thanks to its novel Cerberus consensus mechanism. Again, you probably should consider reading Grant’s article first. 

As Radix gets closer to Babylon, Caviar is gearing up for Mainnet launch,  however, the team has released prototype centralized versions of some of the products that’ll make up the Caviar ecosystem, accessible to everyone but those in the US due to regulatory concerns. 

Curious as to what’s in Caviar’s suite? We highlight them below: 

Caviar’s suite of protocols 

Caviar’s keen on building, in their own terms, “premier” financial products for Radix users. Some of these products are: 

Caviar Swap — a DEX where users can provide liquidity to enable swaps using a single token as well as multi-transactions execution in a single request. Fees from caviar swap currently accrue to $FLOOP Stakers.

See centralized prototype: https://caviarswap.io 

Caviar DEX aggregator (DSOR) — a decentralized order smart router offering the best liquidity-efficient options for DEX users.  

See centralized prototype: https://dsor.io 

Caviar's suite of products will eventually include investable indices, optimised dexes, structured products and more in their future roadmap. 

The Floop token 

The existing Floop token on Radix's mainnet has a total supply of 1,000 tokens. Mainnet Floop holders are assured a discount on transaction fees when using CaviarSwap. Those who choose to stake their Floop tokens will receive a portion (20%) of the fees generated on CaviarSwap, as well as a share of fees from Caviar's other product offerings. More information on the future of Babylon Floop will be made available in the upcoming months.

Closing thoughts

The Caviar team is highly competent and prepared to contribute significantly to the expansion of the Radix ecosystem. It's worth monitoring their progress, and we at Blocmates will be doing exactly that. 

You can explore further down the rabbit hole by interacting with the prototype version of the products at the moment or look up the docs for CaviarSwap and DSOR.  Feel free to follow the team on Twitter and join the community

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