#庞通 All content published is not investment advice
Updated on June 10, 2023
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Introduction: Mechanism Capital co-founder Andrew Kang believes that #Radiant Capital may become the best competitor to Aave and Compound, and wrote an article outlining why he thinks so.
According to Lookonchain monitoring, Andrew Kang exchanged 203,022 $USDC for 653,804 $RDNT on June 2, and then exchanged them for 723,311 $ARB and deposited them in Radiant Capital.
Here is Andrew Kang’s take:
1) With the stablecoin market cap exceeding $100 billion, the $10 billion+ of stablecoins that were once in market makers are now sitting idle, and this untapped liquidity is a huge opportunity;
2) Radiant’s sustainable, incentive-based yield can capture market share. In addition, many non-stETH LSDs worth billions of dollars lack a currency market, and Radiant can become their first choice;
3) Radiant is one of the biggest beneficiaries of ARB. No other market makers have listed ARB yet, so we expect continued capital inflows.
4) The main driver of RDNT’s growth is its V2 token economics upgrade, which increases the value of the incentive mechanism while directing more sustainable releases to long-term protocol users;
5) As the LayerZero and zkSync narratives develop, Radiant is expected to be a big beneficiary;
6) In the future, we will work with Radiant to develop some new growth hacking incentives to promote TVL growth and increase market share;
7) Radiant has surpassed Aave, Compound, and even Solana in terms of 90-day revenue. Judging from the trend, Radiant is one of the fastest growing protocols in the field;
8) Radiant's trading valuation is not high, but its P/E ratio is in line with blue chip stocks;
9) The Radiant community is very active, with an average of more than 2,000 votes for DAO governance proposals;
10) Over $10 million of dLP has been unlocked in the past few weeks, and the total USD value of dLP has increased by about $5.2 million, which means that Radiant is still attracting new lockers even with unlocks.
11) Within two weeks of the implementation of RFP-17 and RFP-18, 71% of lockers chose to lock their tokens for 6 months or 1 year, compared to only 40% of users who chose this period last month.
