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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Lending

Radiant Capital

# Radiant Capital Expenses Methodology

## 1. Overview

Expenses represents the total USD value of RDNT token rewards distributed by the Radiant protocol to incentivize user participation. This metric captures the protocol's operational cost for token-based incentives across its multi-chain deployment. The calculation aggregates RDNT token distributions from reward contracts on Arbitrum, BSC, and Ethereum, converting them to USD using end-of-day price feeds.

## 2. Data sources

- **Radiant v1 protocol events**: Parsed `RewardPaid` events from the MultiFeeDistribution contract on Arbitrum containing RDNT v1 token reward distributions
- **Multi-chain token transfer events**: Parsed `Transfer` events from Arbitrum, BSC, and Ethereum showing RDNT token movements from ChefIncentivesController contracts to MultiFeeDistribution contracts
- **Contract addresses**: Hardcoded addresses for ChefIncentivesController and MultiFeeDistribution contracts across each supported chain
- **Token metadata**: RDNT token contract addresses for both v1 and v2 versions, including decimal precision information
- **End-of-day price feeds**: Daily USD prices for RDNT tokens used for currency conversion

## 3. Step-by-step calculation

### Component A: Raw token incentive extraction
- **Purpose**: Identify and extract all RDNT token reward distributions across Radiant protocol versions and chains
- **Logic**: For v1 protocol on Arbitrum, extract `RewardPaid` events from the MultiFeeDistribution contract where the `rewardsToken` field matches the RDNT v1 token address. For v2 protocol across Arbitrum, BSC, and Ethereum, identify token transfers where the sender is the ChefIncentivesController contract, recipient is the MultiFeeDistribution contract, and token is the native RDNT token address for each chain. Each record captures the block timestamp, transaction hash, log index, originating chain, token address, and reward amount
- **Key fields**: `block_timestamp` for timing, `amount` or `reward` for token quantities, `rewardsToken` or `token_address` for asset identification, contract addresses for filtering transfers

### Component B: Chain and token normalization  
- **Purpose**: Standardize token addresses and chain references for consistent pricing and aggregation
- **Logic**: Map all RDNT token addresses to the Arbitrum RDNT v2 address to ensure consistent price lookup regardless of the originating chain. Preserve the original chain information in `real_chain` while setting the `chain` field to 'arbitrum' for all records. This allows price feeds to use a single RDNT token reference while maintaining chain-specific aggregation capabilities
- **Key fields**: `real_chain` preserving original blockchain, `chain` standardized to 'arbitrum', `token_address` normalized to Arbitrum RDNT address

### Component C: USD conversion and decimal correction
- **Purpose**: Convert raw token amounts to human-readable USD values
- **Logic**: Apply decimal correction to convert 18-decimal token amounts to standard units, then multiply by end-of-day USD prices for RDNT tokens. The conversion uses the standardized Arbitrum RDNT token address to look up consistent pricing across all chains
- **Key fields**: `token_incentives` containing the final USD amounts after conversion and decimal adjustment

### Final aggregation
- **Combining components**: Daily aggregation by originating chain (`real_chain`) summing all token incentive distributions for each day
- **Currency conversion**: All amounts converted to USD using end-of-day RDNT token prices referenced by the Arbitrum token address  
- **Time aggregation**: Daily boundaries using timestamp truncation, with forward-fill strategy applying zeros for missing dates
- **Final calculation**: The expenses metric equals the token incentives value - representing the total daily USD value of RDNT tokens distributed as rewards by the protocol across all supported chains

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

Total project operating and incentive expenses.

Radiant CapitalRDNT

Archived

Expenses

Expenses

Competitive landscape

Chain breakdown