Token Information
- Name: Radpie Token
- Symbol: RDP
- Total Supply: 10 Million
- Token Type: OFT-20
RDP Token
- RDP — RDP is the governance and revenue sharing token of Radpie. Radpie is a SubDAO created by Magpie, with the purpose of contributing to the long-term sustainability of Radiant Capital.
- vlRDP — Users can lock their RDP tokens to get Vote-Locked RDP (vlRDP) on a one-to-one basis. By holding vlRDP, users can earn passive income and participate in the governance of both Radpie and Radiant, with the voting power derived from dLP distributed among vlRDP holders.
Locked RDP
When users lock their RDP tokens as vlRDP, RDP enters a default status with an indefinite lockup period. To initiate the unlocking process, users must select the “Start Unlock” function which triggers a 30-day cooldown period. During this period, while vlRDP holders can continue to accrue passive income, they are not eligible to participate in voting. Once the 30-day period concludes, users have the ability to fully unlock their vlRDP back to RDP.
Force Unlock
Users can opt to “Force Unlock” their vlRDP before the end of the 30-day cooldown period. This involves paying a “penalty” fee to access their assets earlier than the timeframe stipulated in the smart contract. On the first day, the penalty fee amounts to 80% of the total RDP tokens that the user has locked, and this fee decreases non-linearly over time.
RDP Token Distribution
The distribution process of RDP tokens is designed to be fair and transparent. By implementing a lock-up period and linear vesting for different allocations, the tokenomics are set to encourage sustained growth and longevity for Radpie.
IDO Allocation Breakdown
IDO Allocation Details
- mdLP Holders and Stakers: 45% — Recognizing the fundamental role mdLP holders have played in building Radpie’s dLP balance and in turn, enriching the platform’s functionalities, we are allocating a 45% share of the total RDP tokens for sale to them. This allocation is designed to honor mdLP holders and stakers for their significant contributions to Radpie.
- vlMGP Holders: 20% — Being important governance stakeholders in Magpie, vlMGP holders are given the chance to take part in the RDP token sale. They are allocated a 20% share of the total RDP tokens for sale, reflecting their significant role in platform decision-making.
- New mPENDLE Converters: 12% — To support the Magpie SubDAO Ecosystem, we have allocated 12% of Radpie Priority Access to new mPENDLE converters. Users who convert their mPENDLE will be eligible to join the Radpie Priority Access and share in 12% of the sale. Two snapshots will be taken to determine the start and end of the eligibility period, the dates for which are yet to be decided.
- MGP & vlMGP Burners: 10% — Users who burn their MGP and Vote-Locked MGP will be eligible to share in 10% of the Radpie Priority Access.
- Liquidity Providers: 10% — As crucial participants of Radpie’s success, the platform’s RDNT emissions are proportional to the TVL within the protocol. Acknowledging their value, Radpie’s liquidity providers are given the chance to share 10% of the total RDP tokens for sale.
- New mWOM Converters: 3% — As core contributors to the Magpie ecosystem, users who convert their WOM tokens will be eligible to share in 3% of the Radpie IDO through the Radpie Priority Access. Two snapshots will be taken to determine the start and end of the eligibility period, the dates of which are yet to be decided.
Magpie Treasury Allocation Details
20% of RDP Tokens are set aside for the Magpie Treasury, following a two-year vesting plan. This assignment of RDP Tokens to the Magpie Treasury is a vital element of our recent integration, as it manifests our dedication to rewarding our steadfast vlMGP holders. Our community’s trust and backing is greatly appreciated, and we’re firmly devoted to the well-being of our vlMGP holders. The revenue sourced from this allocation will be disbursed among vlMGP holders, as an expression of our gratitude for their unwavering support. We assure our commitment to augmenting the value for our vlMGP holders through consistent hard work and look forward to a prosperous future together.
The meticulously crafted token distribution and vesting schedules strive to nurture a robust and sustainable ecosystem. This approach guarantees the platform’s ongoing prosperity and expansion.
About Radpie: Created as a SubDAO within Magpie XYZ, Radpie stands at the forefront of enhancing yield and refining governance for Radiant Capital enthusiasts. Drawing power from the robust foundation of Radiant’s infrastructure, it stands as a beacon of enhanced advantages. Radpie’s core mechanism involves the locking of dLP tokens, which fortifies governance rights and triggers RDNT distribution for deposits and borrows in the Radiant ecosystem. Radpie enables Radiant users and dLP holders to access RDNT rewards and increased revenue without any lock-up period.
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