Ominichain DeFi Protocol on Arbitrum, BNB Chain

The Binance effect is real! The value of Decentralized Finance (DeFi) protocol Radiant Capital’s token spiked by more than 30% after the world’s largest cryptocurrency exchange announced it would list $RDNT.

Binance is listing $RDNT in its “Innovation Zone,” a category reserved for newer tokens with the probability of higher volatility.

As the announcement was made, the price of $RDNT shot up from $0.34 to $0.45 in 20 minutes, an increase of more than 30%, according to CoinGecko. The price has since settled to around $0.38, as of the time of publication.

Along with the price increase, the trading volume also soared to more than $154 million, which is by far the highest volume for $RDNT since launch. The second-highest 24-hour volume was reached March 19, at nearly $42 million, the day before $RDNT hit its all-time-high price of $0.495.

Eager for the Binance listing, many $RDNT holders deposited their old V1 tokens into Binance without first migrating to V2. The problem is, Binance didn’t intend to support the V1 tokens.

It turned out not to be a major issue, as Binance quickly decided to support the token swap from $RDNT V1 to V2.

Even Binance CEO Changpeng Zhao (CZ) took notice, tweeting, “The old tokens wasn't planned to be supported, but... users first.”

In conjunction with the listing, Binance is hosting a Launchpool where users can stake $BNB and $TUSD to earn $RDNT.

As BSC News reported a couple of days ago, the Arbitrum native protocol just went live on BNB Chain, as the first step in its journey to become an omnichain money market, built on LayerZero tech.

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What is Radiant Capital:

Radiant intends to be the first omnichain money market, allowing users to deposit any major asset on any major chain and borrow a variety of supported assets across multiple chains.

Lenders who provide Radiant with liquidity will earn a passive income from their deposit assets. Borrowers can withdraw against collateralized funds to obtain liquidity (working capital) without selling assets or closing positions.

Radiant's cross-chain interoperability is built on Layer Zero, taking advantage of Stargate's stable router interface. Lenders who want to reclaim their collateral can specify which chain to withdraw funds from and what percentage to send to each chain.

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Learn more about Radiant Capital:

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