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).

governance

github

twitter

discord

etherscan

website

Lending

Radiant Capital

# Radiant Capital Total value locked Methodology

## 1. Overview

Radiant's Total Value Locked (TVL) represents the total value of assets deposited in the protocol plus the value of outstanding loans. Unlike traditional TVL calculations that only measure deposited assets, Radiant's methodology includes both the traditional TVL component (net deposits) and an active loans component (outstanding borrows). This approach provides a comprehensive view of the total value under the protocol's management across its lending markets on Arbitrum, BSC, and Ethereum.

## 2. Data sources

The calculation uses several types of blockchain data:
- **Token transfer events**: Parsed `Transfer` events from Ethereum, Arbitrum, and BSC showing tokens moving to and from Radiant market contracts
- **Variable debt token events**: `VariableDebtToken_Mint_event` and `VariableDebtToken_Burn_event` logs from Radiant lending contracts representing new loans and loan repayments
- **Market initialization events**: `LendingPoolConfigurator_ReserveInitialized_event` logs that define valid lending markets for Radiant v1
- **Hardcoded market configurations**: Static definitions for Radiant v2 markets across multiple chains and assets
- **End-of-day price feeds**: Token price data for USD conversion
- **Token metadata**: Symbol, decimal places, and other token characteristics for proper data processing

## 3. Step-by-step calculation

### Component A: Traditional TVL calculation
- **Purpose**: Measures the net value of assets deposited into Radiant lending markets
- **Logic**: Processes token transfer events where tokens are sent to Radiant market contract addresses (inflows) or sent from market contracts (outflows). Inflows represent deposits and are treated as positive values. Outflows represent withdrawals and are treated as negative values. The cumulative sum of these flows over time gives the net deposits for each token in each market. Daily aggregation groups all transfers by truncating timestamps to day level.
- **Key fields**: `block_timestamp` for timing, `token_address` for asset identification, `value` for transfer amounts, market contract addresses from the markets dimension table

### Component B: Active loans calculation  
- **Purpose**: Measures the total value of outstanding loans (borrows) in the protocol
- **Logic**: Processes Variable Debt Token events where `VariableDebtToken_Mint_event` represents new loans issued and `VariableDebtToken_Burn_event` represents loan repayments. Each event contains an `amount` value and an `index` value with 27 decimal places representing the cumulative interest rate. Mint amounts are positive, burn amounts are negative. The amounts are first scaled by dividing by the index value to get normalized debt units, then cumulative sums are calculated to track outstanding scaled debt over time. Finally, scaled debt is multiplied by the current index value to get the actual outstanding loan amount in the underlying asset.
- **Key fields**: `amount` or `value` fields from VToken events, `index` values with 27-decimal precision for interest calculations, `vtoken_address` to identify the specific debt market

### Component C: Market definitions
- **Purpose**: Defines valid lending markets and maps between asset addresses, market contracts, and debt token addresses  
- **Logic**: Combines on-chain market initialization events for Radiant v1 with hardcoded configurations for v2 markets. For v1, uses `LendingPoolConfigurator_ReserveInitialized_event` logs that contain asset addresses, market addresses, and variable debt token addresses. For v2, relies on static configurations that map asset symbols like WBTC, WETH, USDC to their corresponding contract addresses across Arbitrum, BSC, and Ethereum. Joins with token metadata to get symbols and decimal information.
- **Key fields**: `asset` for underlying token, `aToken` for market contract, `variableDebtToken` for debt tracking, chain and version identifiers

### Final aggregation
- **Combining components**: The traditional TVL component and active loans component are combined using a union operation where both values are treated as TVL contributions. This means the final metric includes both deposited assets and outstanding loan values as components of total value locked
- **Currency conversion**: All amounts are converted to USD using end-of-day price feeds. The conversion applies token-specific decimal corrections to ensure proper scaling (e.g., USDC uses 6 decimals, WETH uses 18 decimals)
- **Time aggregation**: Data is aggregated to daily level by truncating all timestamps to day boundaries. Missing days are forward-filled to ensure continuous time series
- **Final calculation**: Sum all TVL components (traditional TVL plus active loans) grouped by timestamp, chain, and product identifiers. Apply the `finalize_metric_tvl` macro for schema standardization, ID validation, and gap filling using a zero-fill strategy where no forward-fill value exists

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

Total value locked (TVL)

Total value locked (TVL) — value deposited into the project's applications.

Radiant CapitalRDNT

Archived

Total value locked

Total value locked

Competitive landscape

Chain breakdown