Frequently Asked Questions (FAQ). What is Radiant Capital.
02 Feb 2023, 18:53
Frequently Asked Questions (FAQ)
What is Radiant Capital?
Radiant aims to be a "one-stop shop" money market, where users can deposit & borrow across multiple chains, seamlessly.
What is the v2 narrative?
About 98% of all projects in crypto are not profitable. V2 solves some of Radiant’s initial limitations in V1 while ushering in DeFi 3.0 PNL disciple as the first omnichain lending protocol with sustainable real yields. The transition to v2 will mitigate mercenary farming, support seamless cross-chain borrowing within minutes, and support for 20+ new collateral options with extremely safe LTV limits generating more platform fees for the DAO. The foundation’s core value of the collective benefit will guide which actions are eligible for RDNT emissions and real yield in hard assets. The goal is for Radiant v2 to be named the protocol with the lowest price-to-fee ratio* in all of crypto — whilst continuing to offer seamless omnichain lending.
*Analogous to stocks’ price-to-earnings (PE) ratio
Wen v2?
PeckShield and Zokyo are auditing the V2 contracts. Depending on auditing results, it could be mid-Feb launch.
Wen BNB?
Due to the significant increase in v2 scope and complexity, the v2 delivery has been split into 2 phases, with the BNB chain deployment being delivered shortly following the v2 launch.
What can I still do with v1, and when is its end of life?
- While single-sided RDNT locking has been halted on 1/18/23 in preparation for the v2 migration, users can still stake RDNT/WETH.
- Lending & borrowing features in the money market are unchanged, with the exception of the automated 1-click loop feature that was paused for the rest of v1. The 1-click loop will be back in v2, but v1 users can still loop deposits manually (unloop positions prior to v2). V1 will co-exist with v2 for a TBD duration, but emissions to v1 will stop when v2 is launched.
What do I need to do prior to v2, or will the system migrate for me?
- Other than familiarizing, understanding, and researching the coming changes, users aren’t required to do anything before migration to v2.
- The migration wizard will walk users through the following tasks:
- Withdraw collateral from the V1 money market
- Unstake + unpair RDNT/WETH liquidity
- Deposit collateral on V2
- Claim all V1 RDNT (withdraw unlocked, claim vested, claim unvested RDNT, claim protocol fees)
- Lastly, zap into dLP with ETH in wallet / borrowing ETH from the V2 money market, or migrate loose RDNT to OFT20-RDNT.
Please summarize v2 emissions, vesting, locking, and protocol fee distribution
- Emissions: No longer paying out to vesting RDNT or LPs. Deposits and borrows are both eligible for RDNT emissions if a minimum of 5% of total deposits (USD value) is locked in the dLP pool.
- Vesting: No longer grouped into weekly epochs. 90-d vesting with variable linear early exit penalty (90%-25%). No vesting is required if RDNT rewards are zapped into locked dLPs. Vesting no longer receives platform fees
- Locking: No longer grouped into weekly epochs. Will likely be in variable durations (1-12 months) with a tiered multiplier. Expired locks will be removed from the dLP pool no longer receiving platform fees. But users can enable the “auto-relock” option.
- Protocol fee/Rev sharing: 60% to dLP providers. 25% as base APY to lenders. 15% to DAO OpEx, and usage will be governed by a future on-chain proposal. Option to auto-compound into zapped locked dLP.
Same news in other sources
203 Feb 2023, 07:16
Radiant Summary:
1. Launched in July. We were (and still are) DeFi's first cross-chain money market where users can deposit and borrow assets xchain seamlessly
2. Unlike AAVE/COMP, there is significant value accrual ("Real Yield") to token holders in the form of protocol fees. Thus far, roughly $5.1m in revenue for the protocol, ~30% of which were distributed as hard assets (BTC, ETH, stables) to RDNT lockers
After working with our community (over 20% token-holder participation in governance) and several advisors, we came up with Radiant v2.
After 8 months of development by a team of 14, it is going live in 2 weeks. This Medium does a good job summarizing:
The above will help you understand core mechanics like "Dynamic Liquidity", which our alpha testers have been calling "Club Membership" (i.e., requiring locked LP tokens to earn RDNT emissions, getting rid of mercenary farmers)
Collateral Additions
-In v1 we were intentionally super conservative on collateral (3crv + BTC/ETH) as we saw tons of money markets blow up with poor risk parameters or improper collateral params.
-Working on governance proposals to add new collateral options in lend-only markets (at first) to further expand your x-chain borrowing power. For ARBI, think GLP/MAGIC/STG/etc. where you could collateralize those tokens and then borrow on BNB Chain (if you so choose). These can be done with hyper-conservative parameters to let the markets scale safely, and working w/ number of advisors on this
X-Chain Functionality
-Currently, on v1, you can go into Radiant on Arbi, borrow on Avalanche using LayerZero messaging in a couple minutes or less
-On v2, we're expanding this to include a new set of collateral assets (think, borrow against your ARBI MAGIC on Mainnet or get additional leverage on ARBI to lever up) as well as more seamless
"Real Yield"
-Since inception, in contrast to Aave/Compound, lockers of RDNT accrue protocol fees that are generated via borrower interest, flashloans, and liquidations. This "Real Yield" was paid out entirely in BTC/ETH/stables and ranged from 50-100% for most of the life of Radiant to date (before most recent move from 5c-15c)
Misc.
-Adam Cochran ranked RDNT the #2 most interesting project building in DeFi, right behind ETH (https://twitter.com/adamscochran/status/1615834320278794240)
-Top 2 according to Token Terminal in Revenue, Fees, and TVL Growth (https://twitter.com/RDNTCapital/status/1620216821067685888?s=20)
Radiant Summary:. Launched in July.
Radiant Summary:
1. Launched in July. We were (and still are) DeFi's first cross-chain money market where users can deposit and borrow assets xchain seamlessly
2. Unlike AAVE/COMP, there is significant value accrual ("Real Yield") to token holders in the form of protocol fees. Thus far, roughly $5.1m in revenue for the protocol, ~30% of which were distributed as hard assets (BTC, ETH, stables) to RDNT lockers
After working with our community (over 20% token-holder participation in governance) and several advisors, we came up with Radiant v2.
After 8 months of development by a team of 14, it is going live in 2 weeks. This Medium does a good job summarizing:
https://medium.com/@RadiantCapital/cryptos-most-profitable-protocol-a-new-era-for-defi-b374ca82a741
The above will help you understand core mechanics like "Dynamic Liquidity", which our alpha testers have been calling "Club Membership" (i.e., requiring locked LP tokens to earn RDNT emissions, getting rid of mercenary farmers)
Collateral Additions
-In v1 we were intentionally super conservative on collateral (3crv + BTC/ETH) as we saw tons of money markets blow up with poor risk parameters or improper collateral params.
-Working on governance proposals to add new collateral options in lend-only markets (at first) to further expand your x-chain borrowing power. For ARBI, think GLP/MAGIC/STG/etc. where you could collateralize those tokens and then borrow on BNB Chain (if you so choose). These can be done with hyper-conservative parameters to let the markets scale safely, and working w/ number of advisors on this
X-Chain Functionality
-Currently, on v1, you can go into Radiant on Arbi, borrow on Avalanche using LayerZero messaging in a couple minutes or less
-On v2, we're expanding this to include a new set of collateral assets (think, borrow against your ARBI MAGIC on Mainnet or get additional leverage on ARBI to lever up) as well as more seamless
"Real Yield"
-Since inception, in contrast to Aave/Compound, lockers of RDNT accrue protocol fees that are generated via borrower interest, flashloans, and liquidations. This "Real Yield" was paid out entirely in BTC/ETH/stables and ranged from 50-100% for most of the life of Radiant to date (before most recent move from 5c-15c)
Misc.
-Adam Cochran ranked RDNT the #2 most interesting project building in DeFi, right behind ETH (https://twitter.com/adamscochran/status/1615834320278794240)
-Top 2 according to Token Terminal in Revenue, Fees, and TVL Growth (https://twitter.com/RDNTCapital/status/1620216821067685888?s=20)
02 Feb 2023, 19:05
v2 Protocol Fee/Rev Sharing
v2 Protocol Fee/Rev Sharing.
v2 Protocol Fee/Rev Sharing