Binance Labs, the venture capital arm of Binance, the world's leading crypto exchange, has announced a substantial $10 million investment in Radiant Capital.
Radiant Capital, built on LayerZero Labs' robust architecture, aims to tackle liquidity fragmentation, a key challenge in the DeFi space.
The investment will be utilized to enhance the protocol's technology and product development, including expanding collateral options and implementing on Ethereum's mainnet.
Radiant Capital operates as a cross-chain money market, enabling users to deposit and borrow assets across multiple blockchain networks.
Central to its operations are "dynamic liquidity providers," who can lock down the native RDNT token to earn interest and fees from flash loans.
These liquidity providers also have governance authority within the Radiant DAO, giving them a say in platform decisions.
Radiant Capital currently has a Total Value Locked (TVL) of approximately $263 million, according to DeFi Llama data.
Radiant Capital's journey has been closely linked with LayerZero Labs, leveraging the interoperability and cross-chain messaging infrastructure provided by LayerZero.
This association saw LayerZero Labs raise $120 million earlier this year, valuing the company at $3 billion.