DeFi protocol Radiant has officially announced that after 18 months of sustained efforts and community governance exploration following the October 2024 hack, its DAO no longer has a viable path to continue operations. The protocol will gradually enter a "sunsetting" phase. This decision marks the end of the road for the well-known cross-chain lending protocol, which was ultimately unable to find a sustainable direction after suffering a major security breach.
Radiant is a cross-chain lending protocol built on LayerZero technology, previously deployed across multiple major networks including Arbitrum and BNB Chain. The October 2024 hack dealt a devastating blow to the protocol, resulting in significant losses. In the year and a half that followed, the project team and community persistently worked to restore operations and recover the lost funds, but were unable to achieve any substantive breakthroughs.
According to the official statement, the project has made no progress in fund recovery to date and has received no new capital injection. The protocol lacks the basic funding and development runway necessary to maintain normal operations, making it impossible to continue responsible long-term operations. The sunsetting of the protocol means that related functions will be gradually shut down. Plans for handling the protocol's treasury and remaining assets will be announced at a later date, and users are advised to closely monitor official channels for notifications in order to properly manage their assets.