Radiant Capital, the pioneering decentralized finance (DeFi) lending and borrowing platform, has received a $10 million investment from Binance, media reports said.
Radiant Capital intends to change DeFi’s fragmented liquidity market by building on the powerful infrastructure of LayerZero Labs, another portfolio firm under Binance Labs. As a diverse money market, the platform allows users to deposit and borrow assets across many chains, opening up new possibilities for the DeFi ecosystem.
Yi He, Binance’s co-founder and director of Binance Labs, stressed the significance of Radiant Capital’s commitment to allowing smooth cross-chain transactions for DeFi. Furthermore, Radiant’s exceptional success on Arbitrum and BNB Chain proves its ability to achieve mainstream adoption in the DeFi industry.
Following the news of Binance’s substantial investment, the RDNT token enjoyed a spectacular 10% rise, soaring to 31 cents.
The notion of Dynamic Liquidity Providers, who may earn from interest and flash loan fees, is at the heart of Radiant’s invention. Furthermore, they have significant governance authority inside the Radiant DAO, allowing the community to actively influence the platform’s future. Notably, the platform’s fees are dispersed in prominent cryptocurrencies such as bitcoin (BTC), ether (ETH), BNB Coin (BNB), and stablecoins.
Radiant Capital now offers over 20 collateral choices and has a total value locked of around $265 million, according to DeFi Llama statistics. Embracing continual expansion, the platform intends to provide new possibilities, improving its capability to accept different chains and maximize usefulness.
Radiant Capital and LayerZero Labs have formed a powerful collaboration to promote interoperability and cross-chain communications infrastructure. LayerZero Labs’ outstanding $120 million fundraising round in April, at an astronomical $3 billion value, demonstrates the industry’s trust in its vision and technology.
As the DeFi industry evolves, Radiant Capital’s creative methodology and substantial support from Binance’s venture capital arm promise a more interconnected and lively DeFi ecosystem, unleashing a new wave of possibilities for traders and investors alike.
