Binance Labs invests $ 10 million in Radiant (RDNT) and thus supports the Defi protocol in the expansion

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Binance Labs strengthens the leading Defi Protocol Radiant (RDNT) with an investment of $ 10 million. Radiant enables crypto loan transactions across various ecosystems and now intends to expand its reach.

Radiant (RDNT) currently has a daily plan of 8 percent, although the overall crypto market is weak. This is due to the announcement of Binance Labs that they will invest $ 10 million in radiant. This investment will enable the defi protocol with RDNT to lead the "next era of rental business in decentralized finances". Binance Labs manages the investments of the world's largest crypto tour and consider the participation in Radiant as "strategic".

So far, Radiant has been connected to the BNB Chain and Arbitrum (ARB) and enables the automatic merger of lenders and advers. So far, borrowers have had the option of billing between ten cryptocurrencies, including Ethereum (ETH), the StableCoin USDC and Binance Coin (BNB). The special thing about it is that radiant makes it easy to complete lending business between actually not compatible ecosystems.

Thanks to the investment of Binance Labs, Radiant is now planning to integrate further blockchains into the protocol, including Synthetix (SNX). The goal is to "introduce the next 100 million users to Defi", as Binance Labs confidently explained. In fact, Radiant has already established itself in the Arbitrum ecosystem as a leading protocol for rental businesses and is the second largest platform for credit transactions to Venus Finance in the BNB ecosystem.

The decision as to which ecosystems are ultimately connected to radiant hits the community based on RDNT as a ballot. The protocol is organized as an autonomous decentralized organization (DAO). RDNT currently has a market capitalization of almost $ 90 million, so the $ 10 million from Binance Labs is a significant investment.

In summary, it can be said that Radiant wants to compete with big names such as Maker (MKR), Compound (Comp) and Aave in the area of ​​crypto loan business in the medium and long term. In order to achieve this goal, a catch -up process is required in which the financial support of Binance Labs could be helpful. Incidentally, $ 5 million of the investment will flow to the Radiant DAO to create incentives for the use of new options. It remains to be seen for the time being whether Radiant is sustainable market shares and achieves a momentum.