Radiant Capital

Radiant Capital is a cross-chain money market that lets users deposit on one chain and borrow on another, unifying fragmented liquidity through LayerZero. Radiant Capital was an omnichain money market: users deposited on one chain and borrowed against that collateral with withdrawals routed to other chains, initially through Stargate's stable router while collateral remained on Arbitrum (Radiant docs). It was built on Aave contracts, evident in its GitHub organisation which forks `bgd-labs/aave-helpers` and `aave/aave-utilities` (GitHub). The economic model paid 50% of platform fees to lenders and 50% to RDNT lockers, with RDNT rewards vesting linearly over 28 days and a 50% early-exit penalty redistributed to lockers (Radiant docs). That model is now irrelevant: after the 16 October 2024 exploit the DAO began a formal wind-down on 1 June 2026, disabling lending across all Core and RIZv1 markets and ceasing RDNT emissions (Binance Square). What remains is a withdrawal-and-remediation shell.

Omnichain lending: deposits and borrows are bridged across chains via LayerZero rather than confined to a single network's liquidity.

- Radiant v2 markets: Cross-chain money markets with unified liquidity via LayerZero messaging. - RDNT emissions: Liquidity mining token incentivizing cross-chain supply and borrow.

- rUSDC, rWETH, rUSDT (and other rTokens) (rUSDC): Receipt, Lending Receipt Token - Radiant Capital (RDNT): Token, Governance & Utility Token

- Governance: Multisig signer compromise: in October 2024 attackers gained control of enough core-contributor signing devices to authorize malicious transactions/upgrades, draining ~$50M. - Smart Contract: Upgradeable contracts meant compromised signers could push a malicious implementation; the omnichain design widened the attack surface. - Counterparty: Omnichain operation depends on LayerZero messaging and bridge infrastructure across multiple deployments. - Systemic: The protocol is winding down (2026) after failing to recover from the exploit, elevated residual/withdrawal risk for any remaining positions.

- Underwriting: similar in that Historically Aave-style asset-level parameters on blue-chip collateral (ETH, BTC, stablecoins); no new lending is written at all since 1 June 2026; differs in that A lender in run-off: existing book only, no new origination - Collateral: similar in that Crypto collateral posted on Arbitrum with cross-chain withdrawal via Stargate; differs in that Cross-border collateral pledged in one jurisdiction and drawn in another - Settlement: similar in that Smart contracts remain immutable and accessible; the front-end runs until end of 2026 and the remediation portal indefinitely; differs in that Liquidator maintains a claims portal after the trading platform closes - Rate setting: similar in that Historically utilisation-driven with 50/50 fee split between lenders and RDNT lockers; RDNT emissions ceased 1 June 2026; differs in that Run-off book accrues contractual interest; no new pricing decisions - Recourse on default: similar in that Claimants rank by class: lending-market depositors get 1:1 in-kind subject to available funds; unlimited-allowance wallet drains are not eligible; a Convenience Class of $10 to $1,000 claims takes a 30% haircut and covers 95% (28K) of users but only 2% of total loss; differs in that Creditor waterfall with a small-claims class settled at a discount for administrative efficiency - Regulation: similar in that No licence. Radiant worked with US law enforcement and ZeroShadow after the exploit; the wind-down was ratified by an annually elected community council; differs in that Insolvency practitioner acting under statute, coordinating with law enforcement on fraud