RDNT Token Old To New: Binance Offers Swap For Radiant Capital Users

Key Points:

• Binance is supporting a token swap for old Radiant Capital tokens to new ones, due to user demand.
• An individual made a $30K profit in just four minutes by buying and selling RDNT tokens after the Binance listing announcement.

Binance supports token swaps for old RDNT tokens to new ones. CZ decided to support them due to user demand. An individual made a $30K profit in just four minutes.

Binance has listed Radiant Capital (RDNT) in the Innovation Zone and has opened trading for several spot trading pairs. These include RDNT/BTC, RDNT/USDT, and RDNT/TUSD.

Users can now deposit RDNT in preparation for trading, and withdrawals for RDNT opened. The RDNT listing fee is 0 BNB, and users can enjoy zero maker fees on the RDNT/TUSD trading pairs until further notice. Additionally, Binance adds RDNT as a new borrowable asset with new margin pairs on Isolated Margin. The new margin pairs include RDNT/USDT.

As the Binance blog post announced, Radiant Capital is a decentralized omnichain money market protocol allowing users to stake their collateral on one chain and borrow from another. RDNT is the utility token for liquidity mining and governance.

Following the listing of Radiant Capital in the Innovation Zone, many users have deposited Radiant Capital tokens to Binance using the old smart contract address. In order to support these users,

Binance will support the token swap for old Radiant Capital tokens to new Radiant Capital tokens. All deposits of Radiant Capital tokens via the old smart contract address will be credited as RDNTOLD in users’ Binance accounts. Users will be able to convert their RDNTOLD holdings to RDNT at a 1:1 ratio via the Convert Portal starting from a specific date and time.

The CEO of Binance, CZ, stated that the old tokens were not originally planned to be supported, but the company decided to support them due to user demand.

Following the listing, ScopeProtocol, a Web3 Knowledge Graph Protocol, reported that an individual bought $150K of RDNT one minute after the announcement of the Binance listing. They then sold all of their RDNT for $180K USDT, resulting in a $30K profit in just four minutes.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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