DeFi
Radiant Capital Shakes Up the DeFi Pantheon on BNB Chain, Arbitrum
Radiant Capital has taken its place among the top DeFi protocols on both EVM-compatible blockchains.
Top 5 Radiant on BNB Channel, #2 on Arbitrum
Emerging omni-chain money market Radiant Capital soars to No. 1 Decentralized Finance (DeFi) protocols since V2 launch on Arbitrum and expanding towards BNB Channel in March.
The protocol reached its all-time high in total value locked (TVL), approaching $650 million, with approximately $415 million on Arbitrum and $230 million on BNB Chain, making it the second-ranked protocol on Arbitrum and the fifth-ranked protocol on BNB Chain by TVL.
Radiant is number 2 on Arbitrum by TVL. Source: Llama Challenge
For Radiant’s multi-chain expansion plans, everything is going well.
As BSC News As previously reported, Radiant launched its V2 product on Arbitrum and expanded it to BNB Chain a few days later. Built on Layer Zero, Radiant aims to allow users to deposit assets from any major blockchain, borrow assets across chains, and withdraw funds to any major blockchain.
Radiant received another major boost right after its expansion on the BNB chain, securing a coveted listing on the world’s largest cryptocurrency exchange, Binance. Upon the listing announcement, the price of $RDNT increased by 30%.
The token pulled back after that peak, but in the past few days it has been rising rapidly and is currently just 10% off the all-time high reached on March 20, according to CoinMarketCap.
What is Radiant Capital:
Radiant aims to be the first omnichain money market, allowing users to deposit any major asset on any major chain and borrow a variety of supported assets across multiple chains.
Lenders who provide liquidity to Radiant will earn passive income from their deposit assets. Borrowers can make withdrawals against collateralized funds to obtain liquidity (working capital) without selling assets or closing positions.
Radiant’s cross-chain interoperability is layer zero, leveraging Stargate’s stable router interface. Lenders who wish to retrieve their collateral can specify which chain to withdraw funds to and the percentage to send to each chain.