Binance Venture Capital has invested $10M in Radiant Capital’s Lending Protocol.
Data: Twitter.
“This round of strategic funding highlights Binance Labs’ commitment to supporting innovative projects that will lead to the next era of DeFi,” the post reads.
Representatives from Radiant Capital said the investment will support further product development, including expanding oracle support and deployment on the Ethereum mainnet.
Radiant Capital is a decentralized omnichannel money market protocol. Users can post collateral on one of the major networks and borrow on the other. RDNT as a native utility token is used for liquidity mining and governance.
The coin reacted to the news with growth. Over the past day, RDNT has risen in price by 9.1%, according to CoinGecko. At the moment, the price exceeded $0.32, but subsequently corrected to the level of $0.3.
Hourly RDNT/USDT chart of the Binance exchange. Data: TradingView.
According to Defi Flamethe value of the assets blocked in Radiant Capital is $262.5 million.
In March, RDNT went up 25% after it was listed on Binance.
Recall that in July, the venture division of the exchange invested $4 million in the developer of the data mining network, the startup Web3Go.
Earlier, Binance Labs announced investments in five “highest performing projects” from the MVB V phase of the Incubation Program.
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2023-07-20 16:47:58
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