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Introducing Radiant v2

A New Era in Decentralized Finance
DeFi 1.0 has been plagued by copycat protocols featuring zero utility and high-emission governance tokens that inevitably get farmed to zero.
Current Emissions Models have unequivocally failed at holding value over time.
The chart above tracks the value of DeFi 1.0 tokens against ETH.
This occurred for several reasons:
  1. 1.
    The tokens did not provide sufficient utility, and “governance-only” tokens with zero value accrual got appropriately re-priced to the value of governance over time
  2. 2.
    Extremely low barrier to earning DeFi tokens for mercenary liquidity providers. LPs could deposit tokens, earn yield, sell off tokens, then move on once yields compressed. This was seen time and time again on >95% of DeFi protocols
The combined brainpower of the DAO’s advisors, core contributors, and community means that Radiant v2 is several years in the making after watching DeFi 1.0 and 2.0 unfold predictably.
We will be outlining various strategies to solve some of Radiant’s limitations in V1 while ushering in a new ecosystem that our community has colloquially labeled as “DeFi 3.0”.
An ecosystem focused on:
  • Various mechanisms are in place (see below) to prevent mercenary farming
  • Use cases with real utility for the future and longevity of DeFi (seamless cross-chain borrowing within minutes)
  • True governance with fully implemented Discourse Discussion Boards and Snapshot voting
  • Support for 20+ new collateral options with extremely safe LTV limits, generating more platform fees for the DAO

Welcome to Radiant v2

Radiant v2 migrates the current ERC-20 RDNT token to the LayerZero OFT (Omnichain Fungible Token) format. This migration — developed from many conversations with the LayerZero and Stargate teams — will make cross-chain fee sharing much more seamless, enable quicker launches on additional chains, and permit native ownership of bridging contracts rather than relying on third-party bridges.

So, How Is Radiant v2 Different?

Two main concerns emerged from discussions with community members and advisors:
  1. 1.
    How will the next version of Radiant create a better utility exchange between lenders/borrowers and the protocol?
  2. 2.
    In keeping with the Foundation’s core value of “collective benefit,” how should the protocol decide who is eligible for the utility of receiving RDNT emissions?
To address these concerns, Radiant v2 features revolutionary changes to core protocol mechanics, emissions, utility, and deeper cross-chain functionality.
Read Radiant v2 Part I & Part​ 2 Medium articles for a full breakdown of the changes.