Radiant Capital reschedules Ethereum mainnet launch, 1 million Arbitrum tokens set for distribution – FXStreet

0

Lockridge Okoth Lockridge Okoth
FXStreet

Radiant Capital, an omnichain lending protocol, was scheduled to launch on the Ethereum mainnet, on Tuesday, October 3 but in the end it postponed the event. Notably, there are $70 billion in stablecoins on Ethereum (ETH), most of which are not utilized to generate yield.
Also Read: This altcoin nears the end of its five-month downtrend and could rally 40% soon
Radiant Capital announced that it has postponed its much anticipated launch on the Ethereum mainnet to a later date, October 15, highlighting that it had “identified opportunities for significant gas optimizations.” With this discovery, the lending protocol opted to prioritize “competitive gas costs” as an enabler to delivering an optimal user experience.
gm Radiants-

During the final stages of testing for @ethereum mainnet deployment, we've identified opportunities for significant gas optimizations. It's imperative to ensure competitive gas costs to deliver an optimal user experience.

Therefore, we are rescheduling the… https://t.co/4mzlYnl5gi
The omnichain lending protocol will therefore spend the next twelve days implementing additional contract upgrades and performing more thorough testing.
Regarding the remaining 1 million Arbitrum (ARB) tokens that had been allocated to the Radiant DAO from Arbitrum’s airdrop, the Radiant ecosystem will be holding a decentralized autonomous organization (DAO) vote to decide on distribution.
Earlier in the year, Radiant received a 3,348,026 ARB grant from the Arbitrum Foundation. The lending protocol was among the largest recipients of the initial ARB grant, which helped solidify its place as a pivotal protocol in the Arbitrum ecosystem.
Radiant price has dipped almost 10% following the news, to trade at $0.2323. Ahead of the announcement, RDNT had rallied 25% as community members recorded the countdown to the launch. Following the announcement, however, almost half of all that ground covered was lost.
Read here for the Radiant Capital price outlook.
Ethereum is a decentralized open-source blockchain with smart contracts functionality. Serving as the basal network for the Ether (ETH) cryptocurrency, it is the second largest crypto and largest altcoin by market capitalization. The Ethereum network is tailored for scalability, programmability, security, and decentralization, attributes that make it popular among developers.
Ethereum uses decentralized blockchain technology, where developers can build and deploy applications that are independent of the central authority. To make this easier, the network has a programming language in place, which helps users create self-executing smart contracts. A smart contract is basically a code that can be verified and allows inter-user transactions.
Staking is a process where investors grow their portfolios by locking their assets for a specified duration instead of selling them. It is used by most blockchains, especially the ones that employ Proof-of-Stake (PoS) mechanism, with users earning rewards as an incentive for committing their tokens. For most long-term cryptocurrency holders, staking is a strategy to make passive income from your assets, putting them to work in exchange for reward generation.
Ethereum transitioned from a Proof-of-Work (PoW) to a Proof-of-Stake (PoS) mechanism in an event christened “The Merge.” The transformation came as the network wanted to achieve more security, cut down on energy consumption by 99.95%, and execute new scaling solutions with a possible threshold of 100,000 transactions per second. With PoS, there are less entry barriers for miners considering the reduced energy demands.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Join Telegram
Join Telegram
Lido Finance Total Value Locked (TVL), the value of all crypto assets held in the protocol, reached $15.37 billion in the week to October 2, the highest level since August. 
Ethereum staking has seen a surge in the last seven days. Treasury bill yields are currently outperforming at the highest level since 2007.
DeFi platform Yield Protocol has announced its closure, citing weak demand for fixed-rate borrowing. The news comes against the backdrop of mounting regulatory pressure from global watchdogs. 
Ripple Labs victory over the US Securities and Exchange Commission (SEC) around mid-July has been reaffirmed after a federal judge rejected the commission’s motion to file an interlocutory appeal.
Bitcoin (BTC) price remains unfazed even after the multiple spot BTC ETF delays from the US Securities & Exchange Commission (SEC). But investors need to be careful with the ongoing BTC rally as it could be a trap for early bulls.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.
Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
Opinions expressed at FXStreet are those of the individual authors and do not necessarily represent the opinion of FXStreet or its management. FXStreet has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and omissions may occur. Any opinions, news, research, analyses, prices or other information contained on this website, by FXStreet, its employees, clients or contributors, is provided as general market commentary and does not constitute investment advice. FXStreet will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

source

Leave a Reply

Your email address will not be published. Required fields are marked *