At a glance
Euler V2 ↗ and Radiant Capital ↗ tackle DeFi lending from opposite angles. Euler V2 is a modular platform that lets anyone deploy customized vaults with the Euler Vault Kit, commanding ~$0.31B TVL across four chains. Radiant Capital is a cross-chain money market forked from Aave v3 and built on LayerZero, but it wound down in June 2026 after failing to recover from its October 2024 exploit; it now holds under $0.01B with borrowing disabled. One is a live, recovered protocol; the other has entered maintenance mode.
Euler V2 suits builders and yield strategists who want granular control over vault parameters. Radiant previously served users who needed cross-chain borrowing across Arbitrum, BNB, and Ethereum, but with the protocol in maintenance mode only position management and withdrawals remain.
Key differences
TVL separates the two by an order of magnitude. Euler V2 manages ~$0.31B, while Radiant Capital has collapsed to under $0.01B and wound down. This gap makes Euler V2 the only practical venue of the two for active positions.
Chain coverage also diverges. Euler V2 runs on Ethereum, Base, Swell, and BOB. Radiant lives on Arbitrum, BNB, and Ethereum. Euler’s inclusion of Swell and BOB gives it exposure to newer L2 ecosystems, whereas Radiant’s strength is its built‑in cross‑chain communication via LayerZero, linking its three chains natively.
Audit pedigree differs in depth. Euler V2 underwent reviews by Spearbit, Certora, and ChainSecurity. Radiant’s audits came from Peckshield, Zokyo, and BlockSec. While all are reputable, Spearbit and Certora are among the most sought‑after for complex smart‑contract verification.
Exploit history shapes risk perception. Euler suffered a major exploit in March 2023, but the team repaid all losses and rebuilt as Euler V2 with enhanced security. Radiant was hacked in October 2024 and, after 18 months of failed recovery efforts, its DAO voted to wind the protocol down in June 2026—setting borrow caps to zero and halting development.
Security and track record
Both protocols carry the stain of past exploits, but Euler V2’s narrative is one of recovery. After the 2023 incident, the attacker returned nearly all of the ~$200M in stolen funds and Euler re‑launched with fresh audits from Spearbit and Certora, earning trust through restitution. Radiant’s 2024 exploit (attributed to the Lazarus Group) was never recovered, and after 18 months the DAO wound the protocol down in June 2026. Euler’s longer operational history (since 2021) and the recovery of funds give it a more battle‑tested reputation. Radiant, despite its LayerZero integration, could not demonstrate comparable resilience.
Fees and costs
Specific fee structures are not disclosed in our data for either protocol. Euler V2 vaults set their own parameters, so costs vary per market; governance token EUL may offer discount mechanics. Radiant’s fees are tied to its Aave v3 fork model and RDNT tokenomics. For current numbers, see each protocol’s documentation directly.
Which should you choose
Pick Euler V2 if you need deep liquidity (~$0.31B TVL), want to deploy or use modular vaults, or prioritize a protocol that has fully recovered from a past exploit with stronger audits. Its four‑chain footprint (Ethereum, Base, Swell, BOB) also offers broader L2 access.
Radiant Capital is no longer a practical choice: the protocol wound down in June 2026, borrowing is disabled across Arbitrum, BNB, and Ethereum, and only withdrawals and position management remain. Existing users should focus on exiting positions rather than opening new ones.
Verdict
Euler V2 wins across the metrics that matter for most users: deeper liquidity, wider chain support, top‑tier audits, and a proven recovery track. Radiant Capital has wound down after failing to recover from its 2024 exploit, leaving Euler V2 the clear choice of the two.