Decentralized Finance: Binance Labs Invests in Radiant to Support DeFi Lending

Binance Labs, the venture capital and incubation arm of Binance, has invested in Radiant Capital, a lending and borrowing protocol built atop Binance Labs portfolio company, LayerZero Labs, and focused on “bridging fragmented liquidity across decentralized finance ecosystems.”

This strategic funding round “emphasizes Binance Labs’ commitment to supporting innovative projects that will lead the next era of DeFi in a chain-agnostic and user-centric manner.”

Radiant has developed “an innovative cross-chain lending and borrowing protocol that enables users to deposit and borrow assets seamlessly across multiple chains.”

The protocol currently “supports over 20 collateral options, and as the Radiant DAO expands its cross-chain functionality to additional chains, new options will continue to emerge, driven by community voting on Loan-To-Value parameters and oracle usage.”

Yi He, Co-Founder of Binance and Head of Binance Labs, commented:

“Binance Labs actively seeks out promising DeFi projects that not only advance the industry but also push the boundaries of innovation. Radiant Capital’s commitment to facilitating seamless cross-chain transactions for DeFi, and performance on Arbitrum and BNB Chain demonstrates its potential for driving mass adoption. We look forward to seeing Radiant’s continued growth and further contributions to the ecosystem.”

Facilitating seamless cross-chain transactions for DeFi

Radiant aims to expand to numerous EVM chains, “eliminating the need for countless transactions to facilitate lending, borrowing, bridging, and swapping between chains.”

It has gained significant traction “since its launch and saw substantial growth throughout 2023, including being ranked as the number one lending protocol on Arbitrum in terms of Total Value Locked (TVL) and the number five DeFi protocol on BNB Chain.”

The funds raised will be “put toward further tech and product development to expand on oracle support, collateral expansion, Ethereum mainnet deployment, cross-chain liquidations, dual-emissions support, abstracted repayments, and full LayerZero messaging support.”

These developments aim “to facilitate the onboarding of the next 100 million users into DeFi.”

George Macallan, Founder of Radiant Capital, said:

“Radiant Capital’s mission is to usher in a new era of DeFi focused on providing a seamless, secure, and easy-to-use omnichain lending experience. This is critical to the DAO’s end goal of onboarding the next generation of DeFi into the Web3 ecosystem. I am tremendously excited about our partnership with Binance Labs, as they bring extensive expertise, resources, and strategic support to the protocol. Their investment will play a crucial role in propelling Radiant to new heights as the protocol expands to new chains, continues to scale, and drives utility back into the ecosystem.”

As noted in the update, Radiant aims “to bridge the billions in fragmented liquidity across DeFi via the first cross-chain money market, enabling users to deposit and borrow assets seamlessly across multiple chains.”

Radiant’s Dynamic Liquidity Providers are empowered “with governance authority and a share in platform fees captured in blue-chip assets such as bitcoin, ether, BNB, and stablecoins.”

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