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 Supply-side fees Methodology

## 1. Overview

Supply-side fees for Radiant Capital represent the portion of protocol fees that are distributed to lenders (liquidity providers) on the platform. Radiant is a lending protocol that operates across multiple chains (Arbitrum, BSC, Ethereum) with two major versions (v1 and v2) that use different fee tracking mechanisms. The metric combines fee data from both versions to provide a comprehensive view of lender compensation.

## 2. Data sources

The calculation relies on several blockchain data sources:
- **Arbitrum token transfer events**: Raw transfer events used to track v1 fee distributions to specific recipient addresses
- **Radiant v1 protocol events**: `ReserveInitialized` events from the LendingPoolConfigurator contract on Arbitrum that define market configurations
- **Radiant v2 fee distribution events**: `NewTransferAdded` events from MiddleFeeDistribution contracts on Arbitrum and BSC, and MultiFeeDistribution contract on Ethereum
- **Token metadata**: Information about token symbols, addresses, and decimal specifications
- **End-of-day token price feeds**: USD price data for converting v1 token amounts to USD values

## 3. Step-by-step calculation

### Component A: Radiant v1 fee transfers
- **Purpose**: Captures lender fee distributions for Radiant v1 on Arbitrum by monitoring rToken transfers to fee recipients
- **Logic**: Identifies fee transfers by filtering token transfer events where the recipient address matches one of two hardcoded fee recipient addresses (`0xc2054a8c33bfce28de8af4af548c48915c455c13` or `0xf90c69d16599a5c657a05fe76cd22fd9cab44598`). The transfers represent rToken (market token) distributions to lenders. Joins transfer events with market dimension data to identify the underlying asset symbol and address. Applies decimal correction to normalize token amounts based on each token's decimal specification, then converts corrected amounts to USD using end-of-day price feeds.
- **Key fields**: `block_timestamp`, `transaction_hash`, `log_index`, `token_address`, `token_symbol`, `value` (transfer amount)

### Component B: Radiant v2 fee transfers  
- **Purpose**: Captures lender fee distributions for Radiant v2 across Arbitrum, BSC, and Ethereum using dedicated fee distribution contract events
- **Logic**: Processes `NewTransferAdded` events from MiddleFeeDistribution contracts (Arbitrum and BSC) and MultiFeeDistribution contract (Ethereum). These events contain an `lpUsdValue` parameter that represents the total protocol fee amount already denominated in USD with 18 decimal precision. Since lenders receive only 25% of total protocol fees in v2, multiplies the `lpUsdValue` by 0.25 to calculate the lender portion. Joins with market dimension data to identify token symbols where possible.
- **Key fields**: `block_timestamp`, `transaction_hash`, `log_index`, `asset` (market address), `lpUsdValue` (total fee amount in USD)

### Component C: Market dimension data
- **Purpose**: Provides mapping between market addresses, asset addresses, and token symbols for both v1 and v2
- **Logic**: Combines v1 market data from `ReserveInitialized` events on Arbitrum with hardcoded v2 market configurations across all three chains. V1 data is extracted from blockchain events and joined with token metadata, while v2 data is manually configured with specific market addresses, asset addresses, and token symbols for each supported asset on each chain.
- **Key fields**: `chain`, `version`, `asset_symbol`, `asset_address`, `market_address`, `variable_debt_token_address`

### Final aggregation
- **Combining components**: Unions v1 fee transfers (after USD conversion) with v2 fee transfers (after fee split application) using consistent daily timestamp truncation and standardized dimension fields
- **Currency conversion**: V1 amounts converted to USD using end-of-day price feeds via the `convert_usd` macro, while v2 amounts are already in USD from the contract events
- **Time aggregation**: All timestamps truncated to daily boundaries using `timestamp_trunc(block_timestamp, day)` with 'day' as the timestamp grain
- **Final calculation**: The metric represents the total USD value of fees distributed to lenders across both protocol versions, with v1 fees representing the full transfer amounts and v2 fees representing 25% of the total protocol fees captured in the distribution events

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

Portion of fees distributed to service providers or supply-side participants.

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