Radiant Capital (RDNT)
An Omnichain Money Market Protocol Built on LayerZero.Radiant Capital is a cross-chain borrowing and lending protocol built on LayerZero.
RDNT is the native token of the project, and is used in the following functions:
- Governance: Token holders have the ability to create proposals and discuss protocol improvements within the Radiant discussion platform as well as create and vote in on-chain proposals.
- Activate Protocol Fees and Emissions: Radiant’s Dynamic Liquidity Providers (dLP) are able to:
- Share platform fees captured in blue-chip assets such as Bitcoin, Ethereum, BNB, and stablecoins through borrowing interest, flash loans, and liquidations.
- Receive incentivized RDNT emissions for lending and borrowing activity on the Radiant Protocol.
Radiant Capital offers a cross-chain borrowing and lending protocol with an innovative implementation called Dynamic Liquidity Provisioning (dLP). Here are some technical details and products:
- Cross-chain interoperability: Radiant's protocol functions atop LayerZero, leveraging Stargate's stable router interface for seamless cross-chain transactions. This enables users to deposit any major asset on BNB Chain or Arbitrum and instantly borrow any major asset across LayerZero supported blockchains.
- Decentralized Bounty System: Radiant Protocol users ensure that liquidity requirements for all users are met through a highly decentralized “bounty system,” which incentivizes directing emissions to the correct users and rewards long-term liquidity providers
Radiant Capital has received no outside investment to date. The DAO bootstrapped the project, and the token was fair-launched on Arbitrum in July 2022 via Sushiswap.
As of March 30th, 2023, the total and maximum supply of RDNT is 1,000,000,000 and the circulating supply upon listing will be 217,696,083 (21.77% of the total token supply).
Key metrics (as at March 30th 2023)
| Ticker | RDNT |
|---|---|
| Token Type | OFT-20, BEP-20 |
| Initial Circ. Supply When Listed on Binance | 217,696,083 (21.77% of total token supply) |
| Total and Maximum Token Supply | 1,000,000,000 |
| Binance Launchpool Allocation | 15,000,000 (1.50% of total token supply) |
| Binance Launchpool Start Date | March 30th 2023 |
1. What is Radiant Capital?
- Capital in DeFi is extremely fragmented across chains, evidenced by the dozens of different money markets, all with their own liquidity..
- Radiant aims to be an omnichain money market where users can deposit any major asset on any major chain and borrow various supported assets across multiple chains, eliminating the need for silos of liquidity.
- Radiant’s cross-chain interoperability functions using LayerZero messaging and Stargate's stable router interface. For example, lenders may reclaim their collateral and direct which chain to withdraw funds from and what percentage they’d like sent to each chain.
- HRadiant aims to solve DeFi 1.0 issues of unpredictable and transient liquidity through its innovative Dynamic Liquidity Providers (dLP) and gated emissions.
1.1 Key Highlights
- Consolidation of Fragmented Liquidity: The primary goal of the Radiant DAO is to consolidate billions in fragmented liquidity across multiple lending protocols and chains under one safe, user-friendly, and capital-efficient cross-chain protocol. This consolidation of fragmented liquidity is intended to enhance the overall DeFi ecosystem and create a more seamless experience for users.
- Gated Emissions and Platform Fees: Sustainability is an important Key Performance Indicator to the Radiant DAO and thus, the protocol implemented a Dynamic Liquidity (dLP) mechanism which only enables incentivized RDNT emissions to dLP providers. Dynamic Liquidity Provisioners also share the utility of platform fees captured in blue-chip assets such as Bitcoin, Ethereum, BNB, and stablecoins through borrowing interest, flash loans, and liquidations.
- Expanded Collateral Support: As the Radiant DAO expands its cross-chain functionality to additional chains, new collateral options will emerge with DAO-voted Loan-To-Value parameters and oracle usage.
Source: Radiant Capital
Source: Radiant Capital
2. Token sales and economics
2.1 Token Distribution
| Token Name | RDNT |
|---|---|
| Binance Launchpool | 1.50% of the total token supply |
| DAO Reserve | 12.50% of the total token supply |
| Treasury & Liquidity Reserve | 3.00% of the total token supply |
| Emissions Incentives | 56.00% of the total token supply |
| Advisors | 7.00% of the total token supply |
| Team | 20.00% of the total token supply |
RDNT token allocation
3. Roadmap and Updates
3.1 Completed Milestones
| Completion Date | Milestone | Commentary |
|---|---|---|
| 2022 Q3 | Radiant Capital Fair Launches on Arbitrum | Tweet |
| 2022 Q3 | Radiant grows to #2 TVL project on Arbitrum | Tweet |
| 2022 Q4 | Radiant DAO Formation | Tweet |
| 2022 Q4 | Dynamic Liquidity Providers Achieve $5M in Fees | Tweet |
| 2023 Q1 | #1 Price/Fees Ratio Project in DeFi per TokenTerminal | Tweet |
| 2023 Q1 | Launch of Radiant v2 | Tweet |
| 2024 Q1 | #1 TVL Balancer Pool on Arbitrum within 24 hours | Tweet |
| 2024 Q1 | Launch on BNB Chain | - |
3.2 Current Roadmap
Q2 2023:
- Dual-emissions support
- Expanded Oracle support
- Collateral expansion
- Ethereum Mainnet Deployment
Q3 2023:
- Deployment on more chains
- Cross-Chain liquidations
- Abstracted repayments → repay on any chain
- Full LayerZero Messaging support
Q4 2023:
- Radiant Synthetics
3.3 Commercial and Business Development Progress
- Stargate: Layer Zero / Stargate have cooperated with Radiant on many fronts since launch, including peer-reviewing Radiant’s smart contracts. Per Stargate’s snapshot proposal, the RDNT token will be supported as a bridgeable asset via their OFT bridge.
- Lido Finance: Radiant Capital will support wstETH as part of the v2 deployment, and Lido will participate in a dual incentives program.
- Balancer: Radiant recently launched v2 in partnership with Balancer as part of the plans to expand RDNT liquidity. Within 24 hours, the RDNT-WETH pool became the largest Balancer pool on Arbitrum.
- Chainlink: Radiant has relied on Chainlink oracles since inception for all collateral assets on Arbitrum and will continue expanding Chainlink oracle support in the Omnichain vision.
- Arrakis & Gamma Strategies: Radiant is partnering with Arrakis and Gamma strategies per on-chain governance vote in order to expand multi-chain protocol owned liquidity.