Radiant Capital: The lending market on Arbitrum has been restored, and native USDC will be launched soon

ChainCatcher message, Radiant Capital has released an update on the security incident on platform X: After extensive review of the program by OpenZeppelin, independent Ethereum researchers, white hat hackers, and the Radiant DAO committee, the lending market on Arbitrum has been restored.

Users can freely use all available lending markets. Native USDC will be launched in the coming days, and due to the increased complexity of doing so, additional review is required. The DAO's "snapshot" proposal regarding the methods for repaying excess debt and fully adjusting the Arbitrum WETH market capital will be voted on in the near future.

The liquidation reward will initially be set at 1 basis point (minimum setting) to allow users a grace period to improve their health scores. Over the next 24 hours, the liquidation reward will gradually increase to normal levels. During the pause, if a user's collateral is liquidated due to asset price fluctuations, it will be handled on a case-by-case basis.