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:
Following the Radiant Capital hack, which compromised over $50 million in assets, it is critical to manage liquidity and allow mDLP holders to exit their positions while minimizing market disruptions. The exploit impacted both Arbitrum and Ethereum networks, necessitating strategic action to protect users. By utilizing the expired dLP tokens for this buyback, Radpie ensures liquidity for mDLP holders, while demonstrating commitment to ecosystem stability and responsiveness to critical security incidents. These actions will help mitigate the potential negative impact of the hack on liquidity and user confidence.
Data Overview:
Ethereum:
1st batch: Expires Nov 15, 2024, at 01:41 UTC – Amount: 31.19 dLP
2nd batch: Expires Nov 19, 2024, at 08:04 UTC – Amount: 12,362 dLP
3rd batch: Expires Nov 26, 2024, at 06:33 UTC – Amount: 210,128 dLP
BNBChain:
1 Batch: Expired: – Amount: 38,245.34 dLP
Arbitrum:
1st batch: Expires Nov 16, 2024, at 19:52 UTC – Amount: 290,775 dLP
2nd batch: Expired – Amount: 470,417 dLP
3rd batch: Expires Aug 23, 2025, at 06:25 UTC – Amount: 66,257 dLP
4th batch: Expired – Amount: 346,069 dLP
5th batch: Expires Feb 14, 2025, at 09:07 UTC – Amount: 281,410 dLP
6th batch: Expires Feb 8, 2025, at 07:26 UTC – Amount: 90,926 dLP
7th batch: Expires Nov 26, 2024, at 06:37 UTC – Amount: 153,482 dLP
Specification:
Use expired dLP from Ethereum, Arbitrum and BNBChain to conduct random mDLP buybacks over a one-month period, starting immediately after each batch expires.