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Market News Voting Has Commenced on Radiant Capital's RFP-24 Proposal; Majority Opposition

Voting Has Commenced on Radiant Capital's RFP-24 Proposal; Majority Opposition

Voters have exhibited vehement opposition to RFP-24 by Radiant Capital, which proposes to reward long-term dLP lockers on the Ethereum mainnet with strategic ARB reserves. As a result, the proposal is improbable to be approved. The proposal constitutes an expansion of the 30% of the initial ARB that was designated for strategic objectives in RFP-18. Season 2 of the proposal, also referred to as Starfleet, is exclusive to 12-month and 6-month dLP containers that lock via the Radiant protocol.

TOP1 Markets Analyst

2023-10-23

10880

As per Foresight News, voting on the RFP-24 proposal has begun on the multi-chain lending protocol Radiant Capital. The proposal seeks to encourage the utilisation of strategic ARB reserves to support long-term dLP repositories on the mainnet. At 04:16 Beijing time on October 26, the voting period concluded. At present, the proposition is facing opposition from 92.88% of voters, while it has garnered support from 6.86%. Furthermore, it has amassed the required limit of 8.1 million voters.

According to the proposal, the RFP-18 proposal granted approval for the strategic allocation of 30% (1,004,408 tokens) of the initial ARB. Utilising the residual strategic ARB reserves of Radiant DAO, the RFP-24 proposal seeks to encourage additional long-term DLP lock-ins on the Ethereum mainnet. This is an expansion and further stabilisation of the Radiant protocol liquidity pool in continuation with RFP-18. The proposal is designated as Season 2 of Starfleet.

The snapshot schedule is scheduled to commence as soon as Radiant is released on the Ethereum mainnet. In Season 2, participation is restricted to dLP lockers with durations of 12 and 6 months, and only those that have been sealed via the Radiant protocol qualify. dLPs that have been secured via third-party yield aggregators will not qualify directly. The RDNT DAO treasury will allocate the strategic ARB token reserve (1,004,408 tokens) to Starfleet Season 2. The allocation ratio for 12-month lockers is three times that of 6-month lockers.