Something huge is happening within the Radiant Capital (RDNT) community on October 15th. And that’s the launch of its mainnet on Ethereum. Radiant is one of the biggest players in the Web3 money market.
And this launch could make things even bigger, increasing RDNT’s potential. Let’s take a deep dive into this Crypto Bullrun Gem.
What is Radiant Capital?
Radiant Capital is a decentralized, non-custodial lending protocol built on Layer Zero. DeFi lending protocols like Radiant are one of the most lucrative parts of the market. And that is because they address key security concerns. These protocols allow people to quickly and easily secure a loan without disclosing their identity or undergoing checks imposed by a centralized intermediary.
So what is Radiant in the first place?@RDNTCapital, on a product level, is similar to other overcollateralized lending protocols.
Deposit collateral, borrow something else.
It's omnichain: so you'll be able to borrow on any LayerZero-supported blockchain. pic.twitter.com/ocMzbKLO7e
— Jack Niewold (@JackNiewold) March 17, 2023
The process is pretty easy. You can lend with a deposit on chain A + using an asset on chain B in just one step. And that’s not all the perks. The system also allows you to decide what percentage to keep on chain A and what percentage to send to chain B. The process saves users bridging and swapping time and fees.
Key Things to Note About Radiant Capital
- Radiant Capital operates on the Arbitrium Network.
- Radiant’s mission is to be the first omnichain money market. This is a place where DeFi users can deposit any major asset on any major chain and borrow a wide range of supported assets across multiple chains.
- Radiant rewards lenders who provide liquidity with a chance to earn a passive income on the assets they deposit.
Brief History of Radiant Capital
The initial founders and dev team funded the project themselves, no venture capital was used.
Radiant has completed audits with Solidity Finance, PeckShield, Layer Zero & Stargate.
— Hunter Nicholas (@hunterxnicholas) March 2, 2023
The Radiant Token and Tokenomics
The RDNT is Radiant’s native token. It has a wide range of use cases. RDNT serves as a governance token, granting holders rights within the system. So, holders voting on improvement proposals receive a cut of the total interest paid by borrowers.
RDNT is also used for staking rewards. We can say RDNT has core similarities with the AAVE token of the multi-chain DeFi protocol. RDNT’s utilities are:
Let’s look at the tokenomics.
For Lenders & Borrowers
2.Borrow & bridge cross-chain
8.5 for Tokenomics. pic.twitter.com/2cditga5fZ
— Jake Pahor (@jake_pahor) April 18, 2023
There was no VC funding used to back Radiant Capital at launch. The project’s founders and developers single-handedly funded Radiant Capital. Here’s the distribution schedule for the RDNT token.
- Maximum supply of 1,000,000,000 RDNT tokens.
- 50% emitted as incentives for suppliers and borrowers, released over a period of two years
- 20% emitted as incentives for Pool 2 liquidity providers, released over a period of two years
- 7% is allocated to core contributors and advisors. These are released linearly over one year.
- 20% to the team, released linearly over one year, with a three-month cliff.
- 3% is reserved for the Treasury and LP.
- RDNT is 32% circulating, with an inflationary release for 60 months.
The total supply is 1 billion tokens with a circulating supply of just over 208 million tokens. pic.twitter.com/xUMf5Qpytv
— Hunter Nicholas (@hunterxnicholas) March 2, 2023
Also, Radiant Capital has enjoyed some impressive numbers in recent weeks. RDNT registered some good numbers on Binance. In addition, the daily active addresses also saw a spike last month.
Catalysts for RDNT’s Growth
Lots of people in crypto are bullish on Radiant. And things could get better based on what the project has outlined. We could see the RDNT’s price reaching new levels, and these are the catalysts:
- Mainnet launch on Ethereum.
- Layer Zero Airdrop.
- Radpie’s (on the Radiant Protocol) potential IDO in October.
- ARB’s recent boom could affect related projects.
1️⃣ OCT 3rd Radiant $ETH mainnet launch imminent
2️⃣ @Radpiexyz_io IDO potentially October
3️⃣ LayerZero money market protocol that actually counts
— B.O.G (@o_ponle) September 30, 2023
Let’s finish up with the mainnet launch.
Radiant’s Mainnet Launch on Ethereum
In August, Radiant Capital announced plans to launch on the Ethereum mainnet on October 15, 2023.
The project estimated that there are $70 billion in stablecoins on Ethereum. However, many of these are not used to generate yield or earn less than US treasuries. So, Radiant plans to use dLP, its incentive model, to seize market share.
We estimate that the mainnet launch could add $2.75bn–$7.15bn in TVL to the protocol. Radiant’s TVL is currently at $271.3 million. So, the mainnet launch could be a liquidity boost for the system.
Then, the Ethereum mainnet launch will allow Radiant to support more token pairs. This will lead to a greater amount of revenue. In return, this is an extra incentive for users to lock their RDNT tokens in the DLPs to receive 60% of the fees. And to receive the RDNT emissions for lending and borrowing tokens.
Radiant has also planned to reward DLP holders with ARB and BAL airdrops. This is another incentive for users to lock their RDNT tokens in DLPs.
Radiant has submitted a proposal to the @arbitrum DAO’s Short-Term Incentives Program (STIP), aimed at ecosystem growth.
— Radiant Capital (@RDNTCapital) September 25, 2023
Also, while Aave is the leading lending protocol, Radiant could launch a heavy assault on its grip with this launch. If Radiant can replicate its success on Arbitrum on Ethereum, it could eat away at Aave’s market share. And become a strong rival.
Finally, Aave is deployed on 8 chains and supports multiple tokens. So, Radiant still has a long way to go to match Aave’s dominance. But this mainnet launch is a good place to make a statement.
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