Abstract:
This proposal seeks to determine the stance that Magpie should take in the upcoming Radpie vote regarding an increase in Radiant’s total supply of RDNT. Magpie holds a significant amount of vlRDP, giving it substantial voting power in Radpie’s decisions. This proposal invites vlMGP holders to guide Magpie’s voting strategy directly impacting Radpie’s revenue capabilities and, by extension, the revenue share that flows to Magpie and its vlMGP holders.
Motivation:
Given Magpie’s influential voting power derived from its vlRDP Treasury holdings, vlMGP holders are presented with a strategic opportunity to affect this decision critically. The primary considerations for vlMGP holders to vote on this matter are:
Enhanced Revenue Streams: An increase in RDNT supply could lead to expanded operations and revenue for Radpie, which participates in new blockchain ecosystems. This expansion would likely increase the total value locked (TVL) and, by extension, the fees accrued by Radpie
Strategic Influence: By directing how Magpie votes, vlMGP holders can assert significant influence over Radiant’s strategic decision, ensuring they align with Magpie’s long-term interests.
Revenue Sharing Benefits: As Radpie benefits from increased operational scope and revenue, so does Magpie. The increased revenue from Radpie means greater returns and payouts to vlMGP holders, reinforcing the symbiotic relationship between these entities.
Specification:
This proposal calls for a vote among vlMGP holders to decide whether Magpie should use its vlRDP voting power to support a 50% increase, or to maintain the current RDNT supply. This decision will dictate Magpie’s voting position in Radpie’s governance, thereby influencing Radiant’s capital decisions regarding the RDNT supply increase.