Bittime - In response to the rapid development of the DeFi landscape and the need for competitive returns in the context of the launch and expansion of Radiant v3, RFP-33 proposes strategic adjustments to the maximum supply of $RDNT tokens.
The RFP-33 set of protocols, which will take effect soon, paves the way for Radiant to accelerate the launch of the new chain in the third quarter of 2024.
Tandem RFP program
Radiant will begin a tandem RFP program. This program aims to formulate requirements for DLP (Distributed Ledger Protocol) lockers in receiving their share of the newly formed RDNT (Radiant Decentralized Network Token) network.
The next proposal, RFP-34, will outline the distribution mechanism in detail, including the eligibility criteria and lockup period required for DLP lockers to qualify for their allocation.
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Radiant Capital RFP-33 Governance: Increased $RDNT Supply for V3 Expansion and Launch
Radiant Capital's RFP-33 Governance Process is underway and the proposal aims to increase the total supply of $RDNT by 50%.
This upgrade is intended to support Radiant's expansion to new chains and the launch of Radiant V3. Currently, around 50% of the vote is in favor of the proposal, with voting due to close in two days.
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Metric
About 45% of the total 480 million RDNT tokens, i.e. 216 million tokens, are currently locked in dLP across three blockchains.
This figure is considered stable and consistent since the launch of the protocol. It is estimated that, with the potential increase in token supply, the number of tokens in circulation at any given time will not exceed 50% of the total supply.
Dynamic Liquidity Provider (dLP) for Radiant Capital Success
Since the launch of v2 in March 2023, Dynamic Liquidity Provider (dLP) has played a central role in Radiant Capital's success.
Radiant Capital's commitment to dLP is evidenced by its initial allocation of ARB from Arbitrum DAO. All of this allocation is directed entirely to dLP, either through direct airdrops or distributed as platform fees.
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Radiant's STIP Proposal to Arbitrum DAO Results in ARB Airdrop
Furthermore, Radiant's STIP proposal to Arbitrum DAO resulted in a significant ARB airdrop of 1.8 million, specifically targeting Arbitrum's dLP. The second STIP proposal is planned to further support dLP with a token locking mechanism
Recognizing the potential for a LayerZero airdrop and speculation regarding token dilution, RFP-33 proposed a mitigation solution.
This solution consists of distributing 25% of each new token supply to eligible dLPs for two years.
For example, if the token supply increases by 50% (500 million), the scheme will distribute 125,000,000 RDNT to eligible dLPs.
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