Radiant Top 5 on BNB Chain, No. 2 on Arbitrum
Emerging omnichain money market Radiant Capital has rocketed to the top ranks of Decentralized Finance (DeFi) protocols since launching V2 on Arbitrum and expanding to BNB Chain in March.
The protocol has attained its all-time high in Total Value Locked (TVL), verging on $650 million, with about $415 million on Arbitrum and $230 million on BNB Chain – making it the second-ranked protocol on Arbitrum and fifth-ranked protocol on BNB
Radiant is number 2 on Arbitrum by TVL.
Radiant is number 5 on BNB Chain. Source: DefiLlama
It’s a case of “so far, so good” for Radiant’s multichain expansion plans.
As BSC News reported previously, Radiant launched its V2 product on Arbitrum and expanded to BNB Chain several days later. Built on Layer Zero, Radiant intends to allow users to deposit assets from any major blockchain, borrow assets across multiple chains, and withdraw funds to any major blockchain.
Radiant got another major boost right after its BNB Chain expansion, by attaining a much-coveted listing on the world’s largest cryptocurrency exchange Binance. On the news of the listing, the price of $RDNT surged by 30%.
The token retraced after that spike, but in the past few days has increased rapidly and currently is just 10% off the all-time high touched on March 20, according to CoinMarketCap.