The cross-chain lending protocol expects to fully clear its bad debt within 90 days.
Cross-chain lending blockchain Radiant Capital has commenced debt repayments after a flash loan exploit drained the protocol of $4.5 million earlier this month.
According to the Jan. 23 announcement, Radiant has made a successful initial payment amounting to 1,190 Ether (ETH) ($2.6 million), with approximately 720 ETH ($1.6 million) of bad debt remaining.
“The remaining bad debt will be paid off over the next ~90 days through the use of the OpEX funds per RFP-27, with the ability to leverage DAO reserve funds if liquidity becomes available sooner,” Radiant staff wrote.
