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Radiant Capital Set to Launch V2 on Arbitrum with New Tokenomics and Cross-Chain Capabilities
March 13, 2023
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With improvements in tokenomics, cross-chain capabilities, and LayerZero OFT implementation, Radiant aims to become the highest fee-generating protocol in DeFi with the launch of V2.
Radiant Addressing V1 Issues With V2
Decentralized Finance protocol on Arbitrum, Radiant Capital unveils more details on the upcoming V2 expected to launch this week.
Radiant Capital will introduce V2 to address some of the issues from V1. Among these are unsustainable initial emissions, insufficient runway, a low incentive to provide on-chain liquidity to the protocol, and fixed unlock times.
In order to address these issues, Radiant V2 intends to implement improvements in tokenomics, utility, new cross-chain capabilities, multiple new EVM chain launches, and LayerZero Omnifungible Token (OFT) implementation. The team also wants to focus on the accumulation of fair value for the DAO, aiming to become the highest fee-generating protocol in DeFi.
As of Migration Day, RDNT emissions will programmatically be enabled for V2 pools and disabled for V1 pools and the SushiSwap LP "Pool 2" stake pool.
The launch of LayerZero's Omnifungible Token (OFT) will require users to migrate their RDNT V1 tokens to the RDNT V2 OFT, based on the ERC-20 standard. The protocol has a custom Migration Wizard that will guide users through the entire process.
The wizard can guide you to claim rewards, unwind RDNT/ETH Sushi LP positions, move V1 deposits to the V2 lending pool contracts, and finally migrate your RDNT token to OFT, 1:1.
There are certain guidelines Radiant has outlined to move RDNT to V3, regardless of whether you hold RDNT in your wallet, on a centralized exchange, on a decentralized exchange, or whether you have pending or vesting RDNT. You can find them here.
Worth noting users who wish to receive RDNT emissions must maintain an average of 5% of their total deposits in locked Dynamic Liquidity.
Taking Security Seriously
Radiant did V2 audits with Peckshield and Zokyo with no unresolved critical or high issues. Additionally, BlockSec was engaged to perform white hat hacking without any outstanding issues.
According to Radiant, a team of experts will monitor and instantly respond to smart contract events with OpenZeppelin Defender. Moreover, circuit breakers and automated actions are set up to respond in seconds to potential attacks.
Radiant Capital ($RDNT) is trading at $0.2935, up 34.52% in 24 hours.
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, with v1 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.
Learn more about Radiant Capital:
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Related News
Binance VIP Traders Informed of $4B Settlement Back in September
December 1, 2023
The exclusive gathering took place at a luxurious Singapore night club in September, where attendees engaged with Binance executives and probed about the potential settlement.
Binance reportedly hosted an exclusive dinner for its most significant market makers in September. The gathering, held at a prestigious Singapore nightclub, was an intimate setting where select VIP traders gained insights into the impending $4 billion settlement with the U.S. Department of Justice, according to a recent report from Bloomberg.
The private dinner, organized for Binance's top traders, unfolded in the upscale 1880 members-only club. Attendees, consisting of market makers and traders, engaged in discussions with Binance executives about the company's legal challenges. The conversations revolved around the potential $4 billion fine, leaving attendees convinced that Binance could afford and would settle such a substantial amount.
Attendees' Perspectives
Reports suggest that attendees, after breaking into smaller groups, sought clarification on Binance's legal troubles. They left the dinner with a heightened expectation of the $4 billion settlement, emphasizing the significant financial impact it would have on the exchange.
Former CEO Changpeng Zhao was notably absent from the gathering, with the then-head of regional markets, Richard Teng, representing the company.
In response to the reports, a Binance spokesperson disputed certain aspects of the event's depiction while refraining from specifying the inaccuracies, as per The Block. This discrepancy in accounts raises questions about the transparency surrounding Binance's legal challenges and its communication with stakeholders.
Implications of the Settlement
Binance’s $4 billion settlement with U.S. authorities, including the Department of Justice, Department of the Treasury, and the Commodity Futures Trading Commission, marked one of the largest corporate settlements in U.S. history.
The resolution concluded a criminal investigation into allegations of money laundering and sanctions violations, settling many of Binance's legal troubles in the U.S. However, Binance.US and Changpeng Zhao still face a lawsuit filed by the U.S. Securities and Exchange Commission.
Disclaimer: This is a paid Ask Me Anything (AMA), BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement AMA for $2000 Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the AMA.
Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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