Radiant Capital (RDNT) Soars 10% With Binance Backing

Key Points:

• Radiant Capital RDNT token is up more than 10% in the last 24h.
• The impetus came from the announcement that Binance would invest $10 million to develop the protocol.
• Radiant is built on the architecture of LayerZero Labs, a company in the Binance Labs portfolio.

Binance just invested $10 million in Radiant Capital, a decentralized finance (DeFi) borrowing and lending protocol. Its RDNT token instantly spiked more than 10% in the last 24h.

The grant is part of Binance Labs’ commitment to supporting innovative projects that have the potential to lead the next era of DeFi and put users at the heart of Binance Labs. This lending platform aims to solve DeFi’s fragmented liquidity problem by acting as a money market where users can deposit and borrow assets across various chains.

With the capital poured in, the project will accelerate product development, expand oracle support and collateral options, deploy on the Ethereum mainnet, and support seamless communication with LayerZero.

According to DeFi Llama data, Radiant currently has about $265 million in TVL. The platform supports more than 20 collateral options and plans to add new opportunities in the future as Radiant DAO expands functionality to additional chains.

Radiant Capital is a lending platform developed on Arbitrum to become the first omnichain money market. The project is built on LayerZero’s cross-chain interoperability and sending infrastructure, which raised $120 million in April at an estimated $3 billion.

Following the news of the Binance investment, the price of the RDNT token jumped more than 10%. Currently, RDNT is trading at $0.31. This can show the community’s great confidence in the investment choice of Binance.

Radiant is the lending platform with the highest TVL on Arbitrum at the moment. Soon, this project will have many conditions for development as the money continues to flow to Arbitrum to find opportunities to receive Airdrop from this Layer 2 solution.

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