Radiant Capital
Radiant is building the first omnichain money market atop LayerZero. Deposit & borrow across multiple chains, seamlessly.
Radiant is building the first omnichain money market atop LayerZero. Deposit & borrow across multiple chains, seamlessly.
After 18 months of failed recovery efforts and no new capital raised, the DAO decided to halt active development and move the protocol to a maintenance-only state.
Following an investigation with cybersecurity experts, Radiant said the ~$50M October attack was carried out by North Korean state-linked hackers.
An attacker gained control of the protocol's multisig wallet and drained ~$50M from BNB Chain and Arbitrum markets, the project's second major exploit of the year.
An attacker drained about $4.5M (1,900 ETH) by exploiting a rounding issue in the codebase, prompting Radiant to pause lending and borrowing on Arbitrum.
Binance's venture arm made a $10M strategic investment to fund product development, including extending oracle support and deploying to Ethereum mainnet.
The V2 upgrade moved the token from ERC-20 to LayerZero's Omnichain Fungible Token standard, enabling cross-chain fee sharing and further chain expansion.
The DAO self-funded the project and fair-launched the RDNT token on Arbitrum via SushiSwap in July 2022, with no VC or presale involvement.
4718 followers · 0 stories