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With improvements in tokenomics, cross-chain features and LayerZero OFT implementation, Radiant aims to become the highest fee generating protocol in DeFi with the launch of V2.
Radiant addresses V1 issues with V2
Decentralized finance protocol on Arbitrum, Radiant Capital reveals more details about 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.
To address these issues, Radiant V2 intends to implement improvements in tokenomics, tools, new cross-chain features, several new EVM chain launches, and LayerZero Omnifungible Token (OFT) implementation. The team also wants to focus on the accumulation of real-world value for the DAO, aiming to become the highest fee generating protocol in DeFi.
As of Migration Day, RDNT emissions will be programmatically 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 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 for moving RDNT to V3, regardless of whether you have RDNT in your wallet, on a centralized exchange, on a decentralized exchange, or whether you have pending or earned RDNT. You can find them here.
Worth noting users wishing to receive RDNT emissions must maintain an average of 5% of their total deposits in locked Dynamic Liquidity.
Takes security seriously
Radiant did V2 revisions 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 immediately respond to smart contract events with OpenZeppelin Defender. Also, circuit breakers and automated actions are set up to respond to potential attacks within seconds.
Radiant Capital ($RDNT) is trading at $0.2935, up 34.52% in 24 hours.
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 backed assets across multiple chains.
Lenders who provide liquidity to Radiant will earn a passive income from their deposit funds. Borrowers can withdraw against collateral 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 wish to reclaim the collateral can specify which chain they will withdraw money from and what percentage will be sent to each chain.
Learn more about Radiant Capital:
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