Lenders deposit funds into Radiant Capital and receive interest payments from borrowers (supply-side fees).

Radiant Capital is a non-custodial omni-chain lending protocol built on Layer Zero. Radiant Capital was founded by an anonymous team and launched in 2022 on Arbitrum.

RDNT tokenholders own and govern the protocol. They currently take a cut of the total interest paid by borrowers (revenue).

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Radiant Capital

# Radiant Capital Earnings Methodology

## 1. Overview

Radiant earnings represents the protocol's net profit, calculated as total revenue minus total expenses. This metric measures the protocol's financial performance by subtracting token incentive costs from fee income generated across Radiant's lending markets on Arbitrum, BSC, and Ethereum. The calculation combines two distinct protocol versions (V1 and V2) with different fee structures and reward mechanisms.

## 2. Data sources

The calculation relies on several types of blockchain data and external feeds:
- **Token transfer events**: Parsed token transfer events from Arbitrum, BSC, and Ethereum capturing RDNT reward distributions and protocol fee collections
- **Protocol event logs**: Parsed `RewardPaid` events from Radiant V1 MultiFeeDistribution contracts and `NewTransferAdded` events from V2 MiddleFeeDistribution/MultiFeeDistribution contracts
- **Transaction data**: Token transfer records showing movements from ChefIncentivesController contracts to MultiFeeDistribution contracts across all supported chains
- **External data**: End-of-day token price feeds for USD conversion and token metadata including symbols and decimal precision
- **Market configuration**: Hardcoded market addresses and token mappings for Radiant lending pools across different chains and protocol versions

## 3. Step-by-step calculation

### Component A: Revenue calculation
- **Purpose**: Captures total protocol fee income from lending operations across V1 and V2 deployments
- **Logic**: For V1, identifies token transfers to two hardcoded fee recipient addresses (`0xc2054a8c33bfce28de8af4af548c48915c455c13` and `0xf90c69d16599a5c657a05fe76cd22fd9cab44598`) on Arbitrum, matches transferred tokens to lending market addresses to determine underlying asset types, applies decimal corrections based on token metadata, and converts to USD using end-of-day price feeds. For V2, extracts `NewTransferAdded` events from MiddleFeeDistribution contracts (or MultiFeeDistribution on Ethereum) across Arbitrum, BSC, and Ethereum, uses the `lpUsdValue` parameter which represents the full fee amount in USD (scaled by 18 decimals), and applies a 75% protocol fee split since Radiant retains 75% of fees with 25% going to users
- **Key fields**: Uses `to_address` and `from_address` for V1 fee identification, `lpUsdValue` for V2 fee amounts, `token_address` and `value` for V1 transfer amounts, and `asset` field for market identification

### Component B: Expense calculation (token incentives)
- **Purpose**: Calculates the cost of RDNT token rewards distributed to users across all chains and protocol versions
- **Logic**: For V1 on Arbitrum, captures `RewardPaid` events from MultiFeeDistribution contracts filtering for the V1 RDNT token address (`0x0c4681e6c0235179ec3d4f4fc4df3d14fdd96017`). For V2 across all chains, identifies token transfers from ChefIncentivesController contracts to MultiFeeDistribution contracts using chain-specific contract addresses, filters for transfers of the RDNT token on each chain (different addresses per chain but maps all to Arbitrum RDNT address `0x3082cc23568ea640225c2467653db90e9250aaa0` for consistent pricing), applies decimal corrections based on 18-decimal RDNT token standard, and converts all amounts to USD using Arbitrum RDNT token prices since RDNT liquidity is insufficient on other chains
- **Key fields**: Uses `rewardsToken` and `reward` fields from RewardPaid events, `from_address`, `to_address`, and `token_address` for transfer identification, and `value` for transfer amounts

### Final aggregation
- **Combining components**: Revenue and expense amounts are calculated separately then combined using the `calculate_earnings` macro which performs a simple subtraction (revenue minus expenses)
- **Currency conversion**: All amounts are normalized to USD using end-of-day price feeds, with V1 fees converted from native token amounts and V2 fees already in USD format, and all RDNT incentives priced using Arbitrum RDNT rates
- **Time aggregation**: All events are aggregated to daily boundaries using `timestamp_trunc(block_timestamp, day)` with gaps filled using zeros for periods without activity
- **Final calculation**: Earnings equals total daily revenue minus total daily expenses, with the result standardized through the `finalize_metric_earnings` macro which applies consistent schema formatting, data validation, and gap-filling strategies

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Net profit (also profits, net income, profitability) — revenue remaining after subtracting expenses.

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