In a recent announcement, Radiant Capital, a leading decentralized finance (DeFi) platform, has successfully upgraded its BNB Chain subgraphs to The Graph’s Decentralized Network. This upgrade marks a significant step towards greater autonomy and rapid data access, enhancing the user experience on the Radiant platform while ensuring data security through The Graph Network.
As the Sunrise of Decentralized Data approaches, Radiant has successfully upgraded @BNBCHAIN subgraphs to the @graphprotocol’s Decentralized Network.
This upgrade enables greater autonomy along with rapid access to data powering the Radiant experience, secured by The Graph… pic.twitter.com/cpWhUAVjNf
— Radiant Capital (@RDNTCapital) April 17, 2024
Radiant Capital aims to streamline and consolidate liquidity across various chains within the DeFi ecosystem. Serving as an omnichain money market, the platform allows users to deposit assets on any major blockchain and borrow supported assets across multiple chains. With over 1.5 years of development, the Radiant DAO has been focusing on creating a new DeFi primitive, resulting in the launch of Radiant V2. The platform chose Arbitrum for its transaction fee mitigation, considering it the most secure and decentralized blockchain, complemented by Ethereum’s security and institutional adoption.
Users who provide liquidity to Radiant play a crucial role in enhancing the platform’s utility and value. They can capture added value from community engagement through the native token, $RDNT. Borrowers, on the other hand, can obtain liquidity without selling their assets by withdrawing against collateralized assets, allowing them to maintain their positions. The Radiant DAO leverages its native utility token, $RDNT, to enable users to capture additional value from community engagement.
The Graph Network: A Decentralized Indexing Protocol
The Graph Network serves as a decentralized indexing protocol designed to organize blockchain data efficiently. Applications utilize GraphQL to query open APIs, known as subgraphs, to retrieve indexed data on the network. This infrastructure enables developers to build serverless applications running entirely on public infrastructure, enhancing the scalability and accessibility of Web3 applications. The Graph Network comprises Indexers, Curators, and Delegators, which collectively provide services to the network and deliver data to Web3 applications.
Consumers benefit from these applications by accessing and consuming the data provided. To maintain the economic security of The Graph Network and uphold the integrity of the queried data, participants stake and utilize Graph Tokens (GRT). GRT serves as a work utility token, operating on the ERC-20 standard, to allocate resources within the network. Active Indexers, Curators, and Delegators can offer services and earn income from the network, proportional to their work performance and GRT stake.
The successful upgrade of BNB Chain subgraphs to The Graph’s Decentralized Network by Radiant Capital represents a significant advancement in the DeFi space. By integrating with The Graph Network, Radiant Capital enhances its platform’s autonomy and data accessibility, further solidifying its position as a leading omnichain money market in the decentralized finance ecosystem. With the continued development and collaboration between Radiant Capital and The Graph Network, users can expect improved functionalities and enhanced security, driving the adoption and growth of decentralized finance applications.