Radiant V1 Review: Should You Still Use This Lending Market?

Radiant V1 was built as a decentralized money market: you could supply supported crypto assets to earn interest, or borrow assets against collateral. Radiant’s broader pitch was to let users deposit on one chain and borrow across chains, while RDNT lockers could receive a share of platform revenue and participate in governance. The protocol describes rewards in blue-chip assets as well as RDNT emissions linked to locking tokens.

That is the intended model, not a reason to treat V1 as an active market today. Radiant V1 is classified as inactive, and the homepage currently displays a market size of $0 and zero rates. The protocol’s old functionality may therefore be unavailable or unsuitable for new activity. If you are interested in Radiant lending, distinguish the legacy V1 product from any current version and check which markets and contracts are actually supported before interacting.

Lending markets generally have variable rates: borrowers pay interest based on market supply and demand, while suppliers receive a share of that interest. Rates can move as utilization changes, and collateralized borrowing also carries liquidation risk if your collateral value falls. Those general mechanics do not tell you what a Radiant V1 position would cost now.

Radiant’s homepage shows zero APRs and does not publish current V1 rates or a usable fee schedule. It describes platform revenue from interest and flash-loan fees, with a share going to RDNT lockers, but that is not enough to calculate your net cost or return. Transactions on Arbitrum also require network fees, and any cross-chain movement can add costs on the chains involved. With V1 marked inactive, do not rely on old APR figures, reward claims or rate screens when deciding whether to supply or borrow.

Radiant lists two audits, but the audit names, dates, scope and contracts covered are not specified. An audit is a review of particular code at a particular point in time; it does not guarantee that funds are safe, especially if contracts or deployment versions differ.

Radiant also suffered a major exploit in October 2024, reported at roughly $50 million and associated with compromised multisig signers. That incident is material when judging the protocol’s security and governance controls. V1’s inactive status adds a separate practical risk: it may be harder to use an old interface or find support for a position. Radiant does not publish a licence in the details described here, and a decentralized protocol does not give you the same protections as a regulated bank or broker. Treat any old balance as a position to verify, not as evidence that the market remains safe or supported.

Radiant’s product is associated with Arbitrum, so interacting with its contracts requires an Arbitrum-compatible wallet and enough ETH on that network to pay transaction fees. Radiant’s original omnichain design aimed to connect lending and borrowing across chains, but that does not mean every asset or route is available on V1 now. Confirm the exact network and contract before connecting a wallet or approving a transaction.

The homepage offers a launch-app entry and links to documentation, governance and security resources, but its displayed market size and rates are zero. That makes the interface a poor basis for assuming that deposits, borrowing or withdrawals are operational. Do not follow old app links or token approvals without checking that the destination is an official Radiant-controlled contract and that the transaction matches your intent. If you already have a position, use a wallet or block explorer to confirm the contract and balance rather than relying only on an old dashboard.

A 2023 report described a tool for migrating V1 assets to V2. That does not establish that the tool is still live, that all V1 positions are eligible, or that migration is the right route for your assets. Radiant does not publish current V1 withdrawal limits or a current migration timetable in the information described here. Check the official documentation and governance announcements for the relevant contract addresses and instructions; never trust a migration link sent in a direct message.

The main drawback is clear: V1 is marked inactive, rates and market size display as zero, and its current operational support is uncertain. You should choose another active lending market if you want to make a fresh deposit or borrow. Existing users should verify their position and available exit options carefully, accounting for network fees and the risk of signing an outdated or malicious transaction.