Third largest DeFi protocol Arbitrum secures $10M funding from Binance Labs

Binance Labs, the venture capital and incubation arm of Binance, has announced a $10 million investment in Radiant Capital, the LearZero Labs-based lending and borrowing protocol.

Capital raised in the strategic funding round will be deployed in technology and product development to expand on oracle support, collateral expansion, Ethereum mainnet deployment, cross-chain settlement, double emission support, amortized reparations, and full LayerZero messaging support.

• According to official blog postThe company believes that these developments will help bring the next 100 million users into decentralized finance (DeFi).
• Radiant Capital was built on top of LayerZero Labs, a Binance-backed company.
• The protocol enables users to borrow and deposit tokens and is currently live on the BNB chain and Arbitrum on the Ethereum blockchain.
• The latest capital investment is expected to help Radiant expand across multiple EVM chains to eliminate the need for numerous transactions for lending, borrowing, bridging and swapping between chains.
• Commenting on the latest development, Yi He, co-founder of Binance and head of Binance Labs, said:

“Radiant Capital’s commitment to facilitating seamless cross-chain transactions for DeFi, and performance on Arbitrum and the BNB chain, demonstrate its potential for mass adoption. We look forward to seeing Radiant’s continued growth and further contributions to the ecosystem.

• Meanwhile, its developer, LayerZero, partnered with layer-1 protocol Radix in April this year to provide users with ubiquitous communication services and enhance their Web3 experience.
• The blockchain interoperability protocol was added next month with a layer-1 network called ‘Tenet’ focused Liquid Staking Derivatives (LSD).

Binance Labs, the venture capital and incubation arm of Binance, has announced a $10 million investment in Radiant Capital, the LearZero Labs-based lending and borrowing protocol.

Capital raised in the strategic funding round will be deployed in technology and product development to expand on oracle support, collateral expansion, Ethereum mainnet deployment, cross-chain settlement, double emission support, amortized reparations, and full LayerZero messaging support.

• According to official blog postThe company believes that these developments will help bring the next 100 million users into decentralized finance (DeFi).
• Radiant Capital was built on top of LayerZero Labs, a Binance-backed company.
• The protocol enables users to borrow and deposit tokens and is currently live on the BNB chain and Arbitrum on the Ethereum blockchain.
• The latest capital investment is expected to help Radiant expand across multiple EVM chains to eliminate the need for numerous transactions for lending, borrowing, bridging and swapping between chains.
• Commenting on the latest development, Yi He, co-founder of Binance and head of Binance Labs, said:

“Radiant Capital’s commitment to facilitating seamless cross-chain transactions for DeFi, and performance on Arbitrum and the BNB chain, demonstrate its potential for mass adoption. We look forward to seeing Radiant’s continued growth and further contributions to the ecosystem.

• Meanwhile, its developer, LayerZero, partnered with layer-1 protocol Radix in April this year to provide users with ubiquitous communication services and enhance their Web3 experience.
• The blockchain interoperability protocol was added next month with a layer-1 network called ‘Tenet’ focused Liquid Staking Derivatives (LSD).