Binance Announces Radiant Capital Integration to Its Launchpool
The Radiant Capital-Binance Launchpool development reflects the growing dynamism in the exchange’s staking platform.
Decentralized, non-custodial lending protocol Radiant Capital (RDNT) has become the 32nd project onboarded to the Binance Launchpool. Reports say users can stake their Binance Coin (BNB) and TrueUSD (TUSD) into separate pools to farm RDNT tokens across 40 days. Farming commences on March 31st with a total Radiant Capital token supply of 1,000,000,000 RDNT.
Binance also announced that the Radiant Capital Launchpool rewards are equivalent to 15,000,000 RDNT, or 1.5% of the total token supply. Furthermore, the circulating supply is 217,696,083 RDNT or 21.77% of the total token supply.
The RDNT Farming Distribution gives total daily rewards of 375,000.00 tokens, while BNB pool daily rewards equal 300,000.00 RDNT. Lastly, the TUSD pool daily rewards is listed as 75,000.00 RDNT.
Additional Radiant Capital Binance-Launchpool Developments
Binance also provided additional information regarding the Radiant Capital operational process. For instance, the Launchpool sees users accumulate their rewards, which are calculated hourly. These users can claim the rewards directly to their spot accounts at any time. Users can also unstake their funds immediately without delay and participate in any other available pools. Tokens staked in each pool, in addition to unclaimed rewards, “will be automatically transferred to each user’s spot accounts.” However, such transfers will only occur at the end of each farming period.
Radiant Capital is a LayerZero-built cross-chain borrowing and lending protocol with a total market size of $80.19 million. Reportedly trusted by over 28,000 holders, the decentralized, non-custodial lending protocol boasts top-notch security.
The Radiant DAO seeks to unify billions in fragmented liquidity across Web3 money markets under one seamless omnichain protocol. Furthermore, the platform is also intent on simplifying the lending experience in decentralized platforms (DeFi) to enable the next generation of users. Radiant plans to achieve its goals while fostering a sustainable and adaptable ecosystem.
The platform caters to RDNT Lockers as well as Lenders and Borrowers – each with its own operational process. For example, RDNT Lockers receive revenue from interest and flash loan fees, access boosted emissions, and accumulate tokens in various blue chip crypto. Meanwhile, Lenders and Borrowers use capital on any chain without selling the underlying asset and leveraging collateral to earn higher Annual Percentage Rates (APRs).
Radiant Capital’s native token is RDNT, which traded at $0.4094 as of press time.
Binance Launchpool Fan Tokens
The Radiant Capital Binance Launchpool development is the latest notch in Binance’s agenda to diversify its fundraising platform. In December 202, Binance expanded the crypto world to sports by announcing fan tokens on its Launchpool. The exchange onboarded Juventus (JUV) and Paris Saint Germain (PSG) fan tokens at the time via a partnership with fintech provider Chiliz.
Speaking on the Chiliz collaboration, Binance founder and chief executive Changpeng Zhao said at the time:
“Chiliz became a part of the crypto world through Fan Tokens, which has shown huge potential in bringing crypto to mainstream audiences all around the world. We’re delighted to welcome Chiliz to the Binance ecosystem and look forward to empowering both fan engagement and crypto adoption among a captive audience of billions.”
In more recent developments, the Commodity Futures Trading Commission (CFTC) has sued Binance after complaining about the exchange.
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Tolu is a cryptocurrency and blockchain enthusiast based in Lagos. He likes to demystify crypto stories to the bare basics so that anyone anywhere can understand without too much background knowledge.
When he’s not neck-deep in crypto stories, Tolu enjoys music, loves to sing and is an avid movie lover.
