Fair.xyz Announces Polygon Integration and NFT Mint
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The funds will be used to enhance the protocol’s features, including improving oracle support, expanding collateral options, and deploying on Ethereum mainnet.
Binance Labs | Radiant
In a strategic move to support the advancement of decentralized finance, Binance Labs, the venture capital and incubation arm of Binance, has injected $10 million into Radiant Capital. Built atop LayerZero Labs, Radiant aims to bridge fragmented liquidity across various decentralized finance ecosystems. The funding highlights Binance Labs’ dedication to backing innovative projects that will shape the next era of DeFi in a chain-agnostic and user-centric approach.
Radiant Capital introduces a novel cross-chain lending and borrowing protocol that facilitates seamless deposit and borrowing of assets across multiple chains. The protocol currently encompasses more than 20 collateral options, and as the Radiant DAO extends its cross-chain capabilities to additional chains, the community will have a say in the emergence of new options through voting on Loan-To-Value parameters and oracle usage.
“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 its 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,” stated Yi He, Co-Founder of Binance and Head of Binance Labs.
Radiant’s mission is to expand to multiple EVM chains, streamlining lending, borrowing, bridging, and swapping between chains without the need for numerous transactions. The protocol has witnessed significant traction since its launch and experienced substantial growth in 2023, claiming the top spot as the lending protocol with the highest Total Value Locked (TVL) on Arbitrum and ranking fifth among DeFi protocols on BNB Chain.
The newly acquired funds will be channeled towards tech and product development, focusing on enhancing oracle support, expanding collateral options, deploying on Ethereum mainnet, enabling cross-chain liquidations, providing dual-emissions support, implementing abstracted repayments, and introducing full LayerZero messaging support. These developments aim to attract the next 100 million users to the world of DeFi.
George Macallan, Founder of Radiant Capital, emphasized the protocol’s mission of providing a seamless, secure, and user-friendly omnichain lending experience.
“I am tremendously excited about our partnership with Binance Labs,” he said, “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.”
What is Radiant:
Radiant seeks to bridge the billions in fragmented liquidity across DeFi through the first cross-chain money market, allowing 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.
Where to find Radiant:
What is Binance Labs:
As the venture capital arm and accelerator of Binance, Binance Labs is on the continued lookout for the next big Web3 innovation. Since 2018, Binance Labs has invested in more than 200 projects from 25 countries. It has also incubated more than 50 projects that are native to Web3 through the Binance Labs Incubation Program, including Polygon, Perpetual Protocol, and Dune Analytics. As of August 2022, Binance Labs is the largest crypto VC in the industry by Asset Under Management (AuM) of $7.5 billion with a Multiple on Invested Capital (MOIC) of 21.0x.
Where to find Binance Labs:
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