Radiant Capital (RDNT), a decentralized and non-custodial lending platform, is the 32nd project to be enlisted to the Binance Launchpool. (1)
Users can reportedly stake both Binance Coin (BNB) & TrueUSD (TUSD) into different pools to harvest RDNT tokens over forty days, according to reports.
On March 31st, farming will get underway with a total Radiant Capital token supply of one billion, one hundred million RDNT.
Binance also announced that the prizes for the Radiant Capital Launchpool are equal to 15,000,000 RDNT, which is comparable to 1.5% of the entire token supply.
In addition, there are currently 217,696,083 RDNTs in circulation, which accounts for 21.77% of the total token quantity.
The daily payouts for the BNB pool are equivalent to 300,000.00 RDNT. However, the total daily incentives for the RDNT Farming Distribution are 375,000.00 tokens. Last but not least, the daily awards for the TUSD pool are listed as 75,000.00 RDNT.
About Radiant Capital’s Binance and Launchpool
Also, additional information concerning the Radiant Capital functioning procedure was provided by Binance. Users of the Launchpool, for example, are able to rack up their incentives, which are computed on an hourly basis. These users have the ability to demand their rewards at any time directly into their spot accounts.
Customers are also able to unstake their funds quickly and without any delay, as well as take part in any other pools that are accessible.
Tokens that have been wagered in each pool, in addition to awards that have been earned but not claimed, “will be immediately sent to each user’s spot accounts.” However, such transfers will only occur once the farming time is over.
The cross-chain lending and borrowing protocol known as Radiant Capital was developed by LayerZero and currently has a total market size of $80,19 million.
The decentralized, non-custodial lending mechanism is said to have excellent levels of security, as more than 28,000 holders trust it.
The Radiant DAO aims to consolidate the dispersed billions of dollars in liquidity present throughout the Web3 money markets into a single, seamless omnichain protocol.
In addition, the platform is working hard to make the process of lending on decentralized platforms (DeFi) as easy as possible to make it accessible to a new generation of users.
Radiant intends to accomplish its objectives while also cultivating a resilient and environmentally responsible ecology.
The platform is tailored to meet the needs of RDNT Lockers in addition to Lenders and Borrowers, each of which has its own unique operational procedure.
RDNT Lockers, for instance, generate income from interest and fees associated with flash loans, gain access to increased emissions, and amass tokens in a variety of blue-chip cryptocurrencies.
In the meantime, lenders and borrowers use cash on any chain without liquidating the underlying asset and leverage collateral to earn greater annual percentage rates (APRs).
The native token of Radiant Capital is RDNT, and at the time of this publication, it was trading at $0.4094.
Launchpool Fan Tokens are Coming to Binance
The launch of Radiant Capital Binance Launchpool is the most recent step in Binance’s plan to diversify its funding platform.
Binance announced the creation of fan tokens on Launchpool in December 2018, marking the company’s entry into the realm of sports-related cryptocurrencies.
The relationship between the exchange and the fintech service provider Chiliz allowed for the onboarding of fan tokens for both Juventus (JUV) and Paris Saint-Germain (PSG) at the time.
Changpeng Zhao, founder, and CEO of Binance made the following statement regarding the collaboration with Chiliz at the time:
“Chiliz became a part of the cryptocurrency world through the use of Fan Tokens, which has demonstrated enormous promise in bringing cryptocurrency to mainstream audiences worldwide. We are thrilled to have Chiliz join the Binance ecosystem, and we look forward to supporting both fan interaction and crypto adoption across a captive audience numbering in the billions.
In more recent events, the Commodities Futures Trading Commission (CFTC) has filed a lawsuit against Binance after receiving numerous complaints regarding the exchange.
Featured image from (1.1)