DeFi on Arbitrum, BNB Chain

Aspiring omnichain money market Radiant Capital is now live on BNB Chain.

The expansion by the Arbitrum-native lending platform is another link in the cross-chain Decentralized Finance (DeFi) ecosystem that is emerging on the two Ethereum Virtual Machine (EVM)-compatible networks.

As BSC News reported previously, Radiant recently launched its v2 product on Arbitrum. Built on Layer Zero, Radiant intends to allow users to deposit assets from any major blockchain, borrow assets across multiple chains, and withdraw funds to any major blockchain.

According to DefiLlama, Radiant has the second-largest Total Value Locked (TVL) on Arbitrum, with nearly $334 million. That puts it above Uniswap and only behind GMX.

Radiant’s Arbitrum TVL would put it in fourth place on BNB Chain, behind PancakeSwap, Venus and Alpaca Finance.

On launch, Radiant has just over $28 million in TVL on BNB Chain, according to DefiLlama.

In a Twitter thread accompanying the announcement of its expansion, Radiant cited BNB Chain’s growth and overall size in terms of users and TVL.

“In short: @BNBCHAIN is dominating DeFi onboarding[.] And Radiant v2's BNB integration means it's one step closer to the ultimate vision: Become DeFi's premiere, cross-chain lending market,” Radiant tweeted.

Radiant’s announcement comes one day after stableswap Wombat Exchange announced it would be expanding from BNB Chain to Arbitrum on April 5, bringing with it the WOM Wars competition among yield-boosting protocols Wombex Finance, Magpie XYZ and Quoll Finance.

Other DeFi protocols that are live on both BNB Chain and Arbitrum include Uniswap, Trader Joe, ApeSwap, ApolloX and Dopex.

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What is Radiant Capital:

Radiant intends 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 Radiant with liquidity will earn a passive income from their deposit assets. Borrowers can withdraw against collateralized funds to obtain liquidity (working capital) without selling assets or closing positions.

Radiant's cross-chain interoperability is built on Layer Zero, taking advantage of Stargate's stable router interface. Lenders who want to reclaim their collateral can specify which chain to withdraw funds from and what percentage to send to each chain.

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Learn more about Radiant Capital:

Website | Twitter | Discord

Chingari Goes Crosschain

Chingari, the on-chain social app, announced its integration with Wormhole to enable cross-chain expansion to the Aptos network.

“This partnership seeks to enable Gari Network with an easy and efficient way to migrate assets from Solana to Aptos, paving way for a smooth bridging operation,” The Gari Network team stated.

Last month, Gari Network announced its plans to go multi-chain, enabling the Chingari app to launch on the Aptos blockchain in the second quarter. But what the recent integration will bring for Gari Network:

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Benefits of Wormhole Integration

According to Gari Network, users can access different blockchain networks from a single wallet with the recent integration. By integrating cross-chain interoperability, Chingari looks to expand its user base to the Aptos community and offer more innovative features.

Further, core contributors to Gari Network can use Wormhole to transfer emissions to Aptos' Gari wallet when it becomes available. With the Chingari app, new users can use the Aptos-backed Gari wallet seamlessly without needing to migrate.

Furthermore, the protocol believes that the integration can significantly improve performance by offloading some transactional load to other networks.

Having over 5 million daily active users and 2.2 million GARI wallet holders, Chingari has become an increasingly popular platform for entertainment and social interaction. 

Gari Network (GARI) is trading at $0.05153, up 1.07% in 24 hours.

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What is Chingari:

Chingari is a video-sharing mobile app. In these videos, users can add visual effects, lip-sync, dance, or voice-over movie scenes and comic dialogues. The Company’s vision is to be the best of its short video-sharing platform for its users. A hot new stage for flaming talent to show the world who you are by capturing flawless videos and sharing them in seconds. Express yourself, Create amazing videos, and connect with the content you love! We are a growing family that values diversity by doing the right thing with precision, pace, and passion for reaching the Fast Moving Needs of Modern Bharat.

Website | Twitter | Blog 

Ready for ETH Unstaking?

The biggest on-chain event of the year finally has a firm date. The Shanghai + Capella (Shapella) upgrade to the Ethereum mainnet will take place around 10:30 p.m. UTC on Wed., April 12.

Ethereum core developer Tim Beiko said in a Twitter thread that Shapella bug bounties are being doubled until April 5. Additionally he included a link to the Shapella Watch Party on YouTube.

According to an announcement from the Ethereum Foundation Blog, the update’s March rollout to the Goerli testnet has gone smoothly, and developers quickly reached a consensus on the timing of the mainnet upgrade.

“This upgrade follows The Merge and enables validators to withdraw their stake from the Beacon Chain back to the execution layer. It also introduces new functionality to both the execution and consensus layer,” according to the blog.

The immediate knock-on effect of the anticipated Shapella upgrade has been to create new demand for Ether liquid staking projects. The thinking is that the new ability to unstake $ETH will attract more users to stake their $ETH – and, instead of just staking directly, to use a liquid staking protocol that enables them, effectively, to “double-dip” in yield farms and Decentralized Finance (DeFi) platforms.

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What is Ethereum:

Ethereum is an open-source, distributed computing platform based on blockchain technology that can execute smart contracts - that is, the terms written in the contract will be executed transparently, automatically when the previous conditions are satisfied, and no one can interfere. At the same time, Ethereum also allows developers to build decentralized applications (DApps) and decentralized autonomous organizations (DAO).

Find more about Ethereum here:

Website | Twitter | Documentation | Whitepaper | Reddit | Discord | Youtube | GitHub | Ethereum Foundation Blog |

More Trouble for SafeMoon

There’s been another incident with the SafeMoon project, which announced that its SFM/BNB Liquidity Pool had been “compromised.” On-chain data indicates the amount drained approached $9 million.

SafeMoon CEO John Karony tweeted that only the SFM/BNB LP was affected, and the project’s exchange platform is “safe” along with the wallet.

This isn’t the first time SafeMoon has been in the negative spotlight. In April 2022, YouTuber Coffeezilla published two videos looking into the project’s troubles, some of which predated Karony’s tenure.

In regard to the current incident, blockchain security firm PeckShield tweeted that the code that was exploited – a “public burn bug” – was introduced by the official SafeMoon deployer.

“The upgrade, with the exploited public burn bug, was initiated by the official SafeMoon: Deployer. (Admin key leak?),” PeckShield said.

Data from BscScan indicates that the exploiter’s wallet transferred the funds to a second wallet, which sent a message to the SafeMoon deployer, saying “Hey relax, we are accidently frontrun an attack against you, we would like to return the fund, setup secure communication channel , lets talk”.

Upon news breaking about the incident, the SFM token’s value dropped by about 30%, according to CoinGecko, though it has since regained some of that loss.

Become a Local Business Ambassador on Pi Network 

Becoming a local business ambassador is the second ecosystem program unveiled by Pi Network on Pi Day 2023. Like the ecosystem ambassador program, Pioneers can contribute to the network’s development. 

The local business ambassador program is for stores, shops, and small businesses that accept Pi payments. Already, numerous stores have started receiving Pi payments for goods and services, and Pi Network has recognized its importance in contributing to a solid infrastructure in the Decentralized Finance (DeFi) space. 

“Local businesses are an important component to the Pi ecosystem and will make great contributions to building substance and utilities for the network,” Pi Network’s announcement read. “Local businesses are also where the grassroots power of the Pi community can be unleashed to have great potential and impact—something rarely seen in other networks.”

Pi Network created the program to onboard Pioneers, contributing to Pi’s development by bringing local businesses into the Pi ecosystem through Pi payment integration. However, while it promotes the network’s awareness, there may be some challenges. 

To solve these challenges, such as location, accountability, and many more, Pi Network opened community proposals for Pioneers to submit their ideas on encouraging users to integrate Pi payments into their local businesses. 

“If you are knowledgeable about local businesses or enthusiastic about this direction of ecosystem building, submit your ideas via the Pi support portal. Stay tuned for more updates on this program,” Pi Network wrote. 

Open the Pi Day announcement HERE to submit your ideas about the initiative. 

What is Pi Network:

Pi Network is a novel cryptocurrency and developer platform allowing mobile users to mine Pi coins without draining the battery. Pi’s blockchain secures economic transactions via a mobile meritocracy system and a full Web 3.0 experience where community developers can build decentralized applications (Dapps) for millions of users.

Where to find Pi Network:

Website | Twitter | LinkedIn | Facebook | Instagram |

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