What is the XRD token?

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What is the XRD token?

RADIX token (XRD) on the Radix network

The RADIX token is the native token of the Radix Public Network, with ticker XRD.

XRD saw its genesis in July 2021 as part of the genesis of the Radix Public Network.

Purpose

There are two primary uses of XRD:

Staking

XRD is a fundamental part of Radix’s Delegated Proof of Stake (DPoS) system, which uses XRD to secure the Radix Public Network against a type of attack known as a Sybil attack.

In the Radix DPoS system established as part of the Olympia release in July 2021, XRD token holders vote on which validator nodes they would like to participate in consensus by delegating tokens to them, this is known as “staking”. These “stakers” are incentivized to do so by earning network emission rewards. The top 100 validator nodes with the most delegated stake are chosen by the Radix Protocol as its validator set.

This limit of 100 validators is expected to be removed, allowing for an unlimited number of validators, as part of the Radix Xi’an release.

Transaction fees

XRD is also used to pay transaction fees on the Radix Public Network. Transaction fees are primarily intended as a means of preventing spam transactions across the network. 

100% of all transaction fees are burnt, i.e. the tokens used to pay the fee are destroyed by the Radix Protocol.

You can read more on transaction fees, such as how much different transactions cost, here: How do transaction fees work on Radix? Are they burned?

Other

In addition to the primary uses, as the base currency of the Radix Public Network, XRD could also be used by any dApp within the Radix DeFi ecosystem. For example, as collateral in a lending protocol, or as an intermediary facilitating exchange between other tokens. 

Supply & Allocation

Like Bitcoin, with its maximum supply of 21m BTC, XRD has a maximum supply of 24Bn XRD tokens:

  • 12Bn was allocated at the genesis of the Radix Public Network. 9.6Bn of these tokens are fully unlocked and circulating; and 2.4Bn are indefinitely locked in the stable coin reserve.
  • 12Bn XRD is being minted by the Radix Protocol as network emission over an approximately 40 year period (300m XRD per year) to serve as an incentive to stakers and validators in securing the network. Network emissions started with the genesis of the Radix Public Network in July 2021.

Circulating supply

Total supply

Maximum supply

9.6Bn XRD + network emissions to date


(The 2.4Bn Stable Coin Reserve is locked and not included in circulating supply)

12Bn XRD + network emissions to date

24Bn XRD after approximately 40 years


For a full breakdown of the allocation of XRD tokens, please see: How was the XRD token allocated?

eXRD

eXRD is a wrapped token that represents XRD on the Ethereum network. For more information on eXRD, please visit: What is the eXRD token?

Further Reading: