DeFi lending and cross-chain protocol Radiant has officially announced that it will begin a gradual sunset of its operations, 18 months after suffering a devastating hack in October 2024. The decision marks the end of a protocol that once offered cross-chain lending services, highlighting the lasting impact that security breaches can have on DeFi projects. The DAO concluded that there is no viable path forward, as the project has neither recovered the stolen funds nor secured any new capital injection. With reserves insufficient to sustain responsible long-term operations, the only choice is an orderly wind-down.
The Sunset Plan
Under the sunset plan, Radiant will enter maintenance mode. Users will continue to have access to the front-end interface and on-chain smart contracts, meaning they can still withdraw, repay, and manage their existing positions. However, all development of new features, protocol upgrades, and expansion will cease permanently. The platform’s borrowing caps will be set to zero, effectively freezing all new borrowing activity, and RDNT token issuance incentives will be terminated. The protocol treasury will be used solely to maintain basic services, without any further liquidity incentives or development programs.
This shift effectively reduces Radiant from a full-fledged lending platform to a read-only state that supports only liquidation and exit. The team emphasized that going forward, the entire focus will be on user asset safety, fund recovery, and an orderly liquidation process, providing users with a final exit window.
User Assets and Recovery
Radiant stated that efforts to recover the stolen assets will continue, and the recovery portal will remain open. If any funds are recovered in the future, they will be returned to affected users. However, the team cautioned that outcomes are uncertain and the process could take a long time. Users are urged to manage their own risks and to gradually close their positions and withdraw assets to mitigate the risks associated with the eventual shutdown.
For RDNT holders, the cessation of all incentive emissions means the token’s utility as a governance and reward instrument has essentially vanished, leaving its remaining value entirely dependent on secondary market dynamics.