Arca Investment bridged 450 ETH through Arbitrum and acquired Radiant Capital and Dopex crypto tokens. In the meantime, it should be noted that the February performance of the mentioned tokens was quite successful.
According to data from Arbiscan, Arca has purchased Radiant Capital-specific 422,000 RDNT and Dopex-specific 757 DPX crypto tokens for $125,000 and $285,000, respectively. The average purchase price of each was $0.27 and $360, respectively.
Both tokens are compliant with the ERC-20 standard and are used for governance. Therefore, holders can use them to vote on offers. It is not yet clear why Arca is accumulating Dopex and Radiant Capital tokens. But what is known is that these protocols are active and have attracted capital in recent weeks.
Dopex is a decentralized options exchange and claims to have ‘options with maximum liquidity and minimum risk’. Dopex is available on Polygon, an Ethereum side-chain, and on the Ethereum main-net, as well as launching on Arbitrum One, a general-purpose Ethereum layer-2 platform that is the largest by total value locked (TVL). As of February 23, Dopex’s open interest was over $300 million. He also had a TVL of $58.7 million.
Radiant Capital is a decentralized, unsupervised lending protocol whose site is hosted on an interplanetary file storage (IPFS) system. It was forked by TVL from Aave, one of the world’s largest DeFi protocols. The DApp is deployed on Ethereum and Arbitrum. It allows users to earn interest when they lend a variety of assets, including USDC, USDT and wETH. As a decentralized money market, Radiant Capital allows borrowers to take out loans. At the time of writing, the TVL value of the protocol was $87.85 million.