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Radiant: A groundbreaking attempt in the full-chain coin market and V2 version upgrade
Radiant: A New Attempt to Create a Full-Chain Currency Market
Radiant (RDNT) is a currency market project launched in July 2022, originally operating on the Arbitrum network. Its goal is to become a lending platform that spans multiple blockchains, a feature that sets it apart from traditional single-chain lending protocols.
Advantages of Full-Chain Lending
The core advantage of Radiant lies in its full-chain lending functionality. Users can deposit assets on one chain and then borrow on other supported chains without the need for manual cross-chain asset transfers. This design greatly simplifies user operations and enhances asset utilization.
For example, users can deposit ETH or other tokens on Arbitrum, and then directly borrow BNB on BSC, or borrow SOL on Solana, or even borrow ETH on the Ethereum mainnet. This cross-chain lending model breaks the isolation of various chains in traditional lending protocols, providing users with more flexible asset management options.
Currently, most lending protocols deploy independent versions on different chains, leading to fragmented liquidity. Radiant aims to address this issue by integrating liquidity across different chains. Considering that the Ethereum mainnet still accounts for about 60% of the total locked value (TVL), while lending activities on other chains are relatively independent, Radiant's multi-chain strategy could present significant market opportunities.
From a technical perspective, Radiant utilizes LayerZero's Omnichain technology to achieve its cross-chain functionality, providing a technical foundation for building a full-chain lending market.
RDNT V2: Optimized Incentive Mechanism
The Radiant project plans to launch the RDNT V2 version, aimed at improving its token economic model and user incentive mechanisms. The main updates include:
Introduce the concept of Dynamic Liquidity Provisioning (dLP), requiring users to provide at least 5% liquidity to earn RDNT token rewards.
Upgrade the RDNT coin to the LayerZero Omnichain Fungible format to support a more seamless cross-chain experience.
Extend the token vesting period to 90 days and implement a linear exit penalty mechanism to make the penalties fairer and more reasonable.
Adjust the protocol fee distribution ratio to increase the revenue share for RDNT holders while reserving a portion of funds for the DAO.
These changes are designed to encourage long-term holding and participation, while enhancing the overall stability and sustainability of the protocol.
Current Market Performance
As of the latest data, Radiant's lending market size has reached approximately $438 million. The protocol has cumulatively allocated $5.62 million in fee revenue to RDNT stakers. According to DeFiLlama, Radiant's deposit TVL is around $126 million, and the total TVL including lending, staking, and Pool2 is close to $470 million.
These data indicate that Radiant has already occupied an important position in the Arbitrum ecosystem. If its full-chain lending strategy is successfully implemented, it is expected to further expand its market share.
Risk Considerations
Despite Radiant's strong growth potential, investors still need to carefully assess the potential risks. In addition to the challenges that Radiant itself may face, its reliance on LayerZero technology is also a factor to consider. If LayerZero encounters issues, it may impact Radiant's operations.
In the DeFi space, risk management has always been an important topic. Investors should have a comprehensive understanding of the associated risks when participating in Radiant or any other DeFi project and make informed decisions based on their own risk tolerance.