Radiant, reaching its end after a hack, announces gradual shutdown

Odaily Planet Daily News DeFi protocol Radiant announced that after 18 months of continuous effort following a hack in October 2024, the DAO no longer has a viable path to continue operations and will gradually enter a "sunsetting" phase.

Radiant stated that the project currently has no progress in fund recovery, no new capital injection, and lacks the funds and development space to maintain normal operations, making responsible long-term operations impossible.

According to the plan, Radiant will transition into maintenance mode: the frontend interface will continue to operate, on-chain smart contracts will remain accessible, and users can still withdraw, repay, and manage their positions. However, the project will cease all new feature development, upgrades, and expansions. Additionally, borrowing limits will be set to zero, incentives for minting the RDNT token will stop, and treasury funds will only be used for basic operations. The project will henceforth focus entirely on user asset safety, fund recovery, and an orderly liquidation process.

Radiant stated that efforts to recover assets will continue, the relevant claims portal remains open, and any future recovered funds will be returned to affected users. However, the outcome of the recovery is uncertain and the timeline may be lengthy. While operations are gradually winding down, on-chain contracts remain functional, and users need to manage their own risks and gradually exit their positions.