Radiant Capital (RNDT) has been a hot topic lately due to its 50% increase in total supply over 3 years from the previous 1 billion tokens. This has caused outrage and disappointment in the community, what is the truth behind the story?
First of all, let’s review the project information. Crypto Blog has an article analyzing the project’s knowledge. You can read it first:
Regarding the project, according to analysis, this is a good Lending project with the project having fairly regular updates, good revenue and at the same time the support of Binance Labs with 10 million USD in total investment. The project also expanded its chain quite quickly and fully.
On the contrary, the project’s RDNT token price disappointed most investors when the previous market growth was not really impressive and is now “losing” in reverse.
RDNT increased total supply by 50% in 3 years, what is the truth?
This has been passed since Voting Knife RFP-33 It’s been a while. This project aims to expand multi-chain further and increase emission rewards for dLPs on the platform. However, in my opinion, this Dao voting is mostly in the hands of the dev, so the proposal passed without any obstacles, small user voting is not very effective.
At the same time, sites and exchanges like Coingecko have not had time to update, so they have become a bad news causing the price to slow down and project holders will fear the dilution of total supply causing the price to gradually decrease.
Some analysts also discovered that newly minted tokens were transferred to Sushi Bento box for vesting to other wallets. The vested wallets then transferred the received tokens directly to Binance.
This action represents a complete contradiction of the original purpose of this proposal? Is the project taking actions to “scam” for its own profit? Please comment your thoughts on this incident right below the comments section or on the social networking sites of Virtual Money Blog!
