# \[MIP #53\] - Consult vlMGP Holders on Radpie's Proposal for dLP Buybacks

**URL:** <https://gov.magpiexyz.io/t/mip-53-consult-vlmgp-holders-on-radpies-proposal-for-dlp-buybacks/421>\
**Category:** 4. Magpie Improvement Proposals\
**Created:** [November 1, 2024, 5:34pm UTC](https://gov.magpiexyz.io/t/mip-53-consult-vlmgp-holders-on-radpies-proposal-for-dlp-buybacks/421 "2024-11-01T17:34:16Z")\
**Posts on this page:** 2\
**Page:** 1

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**Author:** ![Desmen](https://yyz1.discourse-cdn.com/flex031/user_avatar/gov.magpiexyz.io/desmen/32/84_2.png) [@Desmen](https://gov.magpiexyz.io/u/Desmen)\
**Post date:** [November 1, 2024, 5:34pm UTC](https://gov.magpiexyz.io/t/mip-53-consult-vlmgp-holders-on-radpies-proposal-for-dlp-buybacks/421/1 "2024-11-01T17:34:16Z")

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## Abstract:

This proposal seeks to gather feedback from vlMGP holders on whether Magpie should support Radpie’s RIP #15. It aims to use expired dLP tokens from Radiant Capital to conduct random buybacks of mDLP over a one-month period, starting immediately after each batch expires. The total dLP includes approximately 2 million tokens, with expirations ranging from October 2024 to August 2025. This buyback will provide liquidity for mDLP holders and help manage the market impact caused by the recent Radiant Capital exploit.

## Motivation:

The recent $50 million Radiant Capital hack impacted liquidity across multiple networks, including Arbitrum and Ethereum. It is essential to consult vlMGP holders to ensure that Magpie’s vote on this matter aligns with the interests of its stakeholders. By supporting RIP #15, Magpie can contribute to the overall health of the ecosystem and safeguard the interests of the community impacted by the liquidity strain.

## Specification:

Vote on whether Magpie should support Radpie’s RIP #15, which proposes using expired dLP tokens for mDLP buybacks over a one-month period after each batch expires.

For more information, please refer to RIP #15

> [@\[RIP #15\] - Utilization of Expired dLP for mDLP Buyback](https://gov.magpiexyz.io/t/rip-15-utilization-of-expired-dlp-for-mdlp-buyback/420):
>
> Abstract: This proposal authorizes the use of expired dLP tokens from Radiant Capital on Arbitrum, Ethereum and BNBchain to buy back mDLP tokens. The buyback process will be randomized over a one-month period, offering users a pathway to exit their positions. The recent hack on Radiant Capital led to a liquidity strain, making this buyback essential for mDLP holders. The total dLP to be used includes approximately 2 million tokens, expiring between October 2024 and August 2025. Motivation: Foll…

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<div class="post-metadata">

**Author:** ![Desmen](https://yyz1.discourse-cdn.com/flex031/user_avatar/gov.magpiexyz.io/desmen/32/84_2.png) [@Desmen](https://gov.magpiexyz.io/u/Desmen)\
**Post date:** [November 7, 2024, 4:03pm UTC](https://gov.magpiexyz.io/t/mip-53-consult-vlmgp-holders-on-radpies-proposal-for-dlp-buybacks/421/2 "2024-11-07T16:03:26Z")

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