Radiant's Highlights from 2023: V2 Upgrade, Expansion, Growth, and Active Users
Radiant's Highlights from 2023: V2 Upgrade, Expansion, Growth, and Active Users
Radiant Capital had a successful year in 2023, with notable achievements and milestones. The V2 upgrade brought enhanced tokenomics, utility, and cross-chain capabilities to the platform. Radiant expanded to BNB and ETH Mainnet, getting closer to their omnichain vision. Deposits surged from $125M to $672.8M, and borrows grew from $90.3M to $329.7M. Dynamic liquidity providers added robustness and unlocked access to a portion of protocol fees, reaching a total of $105.8M. Radiant generated around $22M in fees from V2 alone. The active user base increased significantly from 37,409 to 389,250. The community can look forward to RFP-28, introducing components of Radiant V3.
After the storm, the sun always shines ✨ Acknowledging challenges faced, and emphasizing the resilience that defines Radiant, let's reflect on the brilliant successes from last year. Join us as we reflect on the highlights from Radiant's 2023. 🧵👇
Maple's syrupUSDC Launches Isolated Market on RIZ v2
**Maple Finance's syrupUSDC now has its own isolated market on RIZ v2**, expanding utility for the yield-bearing USDC wrapper. **Key features:** - Deposit syrupUSDC to borrow USDC while maintaining underlying yield - Deposit USDC to earn market yield - syrupUSDC earns yield from Maple's institutional lending activity This integration allows users to leverage their yield-bearing assets for additional capital efficiency. The wrapper continues generating returns from Maple's lending operations even when used as collateral. [Learn more about RIZ v2](https://riz.io)
RIZ v2 Launches Three New Isolated Markets on Base
RIZ v2 has launched three new isolated lending markets on Base: - **uniBTC/USDC** - Bedrock's Bitcoin liquid restaking token - **cbXRP/USDC** - Coinbase's wrapped XRP - **cbADA/USDC** - Coinbase's wrapped ADA Each market allows users to deposit the collateral asset and borrow USDC against it, or deposit USDC to earn yield from borrowing activity. The isolated architecture keeps risk contained to individual markets.
🚨 rsETH Supply Caps Set to 1
**Supply caps for rsETH have been set to 1** on both Core and RIZ markets on Arbitrum as a precautionary measure. This action follows a bad debt situation affecting rsETH across multiple lending protocols industry-wide. **Key points:** - Existing positions remain unaffected - All other markets continue operating normally - The cap limits new rsETH deposits while protecting current users
🎙️ Radiant Tackles Web3 Misconceptions
**Radiant joins Web3 Global Talks today at 11:30 AM EST** to discuss the key challenges and misconceptions currently shaping Web3's development. The discussion will address common misunderstandings in the Web3 space and explore how these perceptions impact the industry's growth. - Live discussion format on Twitter Spaces - Focus on Web3 development challenges - Industry misconceptions analysis [Join the conversation](https://x.com/i/spaces/1jMJgREOrWAGL?s=20) to hear insights on navigating Web3's evolving landscape.
Radiant Capital Opens Survey for Convenience Class Remediation with Phased Payout Options
**Radiant Capital** has launched a new temp-check survey for **Convenience Class remediation** following the October hack. The Community Council is seeking feedback on: - **Revised phased payout schedule** - **Potential dust threshold adjustments** Key details: - Survey runs for **2 weeks** - Official Snapshot vote will follow after survey period - Part of ongoing remediation efforts for hack victims This follows previous community surveys exploring recovery options for affected users, with the assumption that no external bailout will occur. [**Take the survey**](https://community.radiant.capital/t/survey-107-phased-remediation-and-dust-considerations-for-the-convenience-class/2283/1) to help shape the remediation approach.