Radiant Capital Initiates RFP-34 Proposal, Suggests weETH Onboarding Into Its Ethereum And Arbitrum Deployments
In Brief
Radiant Capital introduced the RFP-34 proposal, suggesting the integration of weETH into its Ethereum and Arbitrum deployment.
Decentralized finance (DeFi) platform focused on consolidating liquidity across various blockchains, Radiant Capital has introduced the RFP-34 proposal, suggesting the integration of weETH into Radiant Capital’s Ethereum and Arbitrum deployment as an accepted form of collateral asset and borrowing market.
The expansion aligns with Radiant Capital’s commitment to offering users a wide-ranging and varied portfolio of assets. The voting process is currently underway and is scheduled to conclude on May 10th.
weETH is a liquid restaking derivative token designed to track the value of staked ETH along with its corresponding rewards. This token originates from EtherFi, a platform that enables users to engage in ETH staking rewards offered by the Ethereum network.
The implementation process will include integrating Chainlink, which will supply precise real-time exchange rate data for the weETH token. It will also entail smart contract implementation to facilitate the integration of weETH as collateral and borrow market with the necessary parameters, including coding and testing to ensure their reliability and security. Additionally, updates to the user interface will be made to accommodate the inclusion of weETH.
The integration process is expected to proceed promptly after thorough local testing and staging have been completed.
Radiant Capital Collaborates With DeFi.app To Enhance Trading Experience
Radiant strives to establish itself as the first omnichain money market, offering users the ability to deposit major assets on any major blockchain and access borrowing options for various supported assets across multiple networks.
Recently, Radiant Capital has partnered with DeFi.app, a protocol focused on offering a Web2 interface for DeFi. This collaboration aims to empower users to trade tokens across various blockchains seamlessly, without gas fees or funds required for the destination blockchain. Additionally, users can access benefits such as yield and airdrop farming through this integration.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
