Under the Arbitrum Short-Term Incentive Program, Radpie has received an allocation of 350,000 ARB tokens, valued at over $700,000. These tokens are earmarked for distribution within Arbitrum’s thriving ecosystem, with a significant portion dedicated to incentivizing the conversion of dLP from Radiant Capital into mdLP through the STIP dLP RUSH #3.
STIP dLP RUSH #3
This program presents dLP owners on Arbitrum with a compelling chance to convert their dLP into mdLP via Radpie, with the incentive of earning ARB tokens as a reward. An allocation of 178,409.69 ARB tokens is available for participants, encouraging them to support Radpie’s expansion while gaining extra passive income with mdLP and ARB rewards.
How to Participate?
To join the STIP dLP RUSH #3, users are required to convert dLP into mdLP on Radpie using Arbitrum. For this occasion, Radpie has allocated 178,409.69 ARB tokens from the Arbitrum STIP to reward participants who convert their holdings. The opportunity to take part is available for a duration of five days.
Throughout STIP dLP RUSH #3, 100% of the dLP converted by participants will undergo processing via the Smart dLP Converter. Should the peg fall below 95%, half of the Smart Converter Bonus is designated for the Radpie Treasury. Radpie will then strategically stake the accrued mdLP tokens, generating income to aid in maintaining and stabilizing the mdLP/dLP peg.
The mdLP Stability Vault
The mdLP Stability Vault is set up to reward the dedicated supporters of Radpie while deterring brief speculative efforts. In STIP dLP RUSH #3, every dLP that is converted gets directly added to the mdLP Stability Vault. This measure is designed to deliver considerable ARB rewards to those who are significantly invested in the advancement of Radpie and Radiant, as opposed to just benefiting individuals seeking rapid returns.
The dLP RUSH #3 Reward Structure
During the STIP dLP RUSH #3, users earn ARB rewards proportionate to the number of dLP they convert into mdLP. These rewards are organized into brackets, with each subsequent bracket’s rewards depending on the total dLP converted. Participants can perform multiple transactions to boost their dLP conversion, advancing them into higher reward brackets.
Brackets of Rewards
Example:
1. User A converts 1,000 dLP
User A will receive:
- 0.25 ARB * 1,000 = 250 ARB + at least 1,000 mdLP tokens (If the mdLP peg is lower than 95% relative to the price of dLP, Radpie will utilize the Smart Converter, resulting in an increased amount of mdLP.)
2. User B converts 25,000 dLP
User B will receive:
- 0.25 * 1,000 = 250 ARB + 1,000 mdLP tokens
- 0.26 * 4,000 = 1,040 ARB + 4,000 mdLP tokens
- 0.28 * 15,000 = 4,200 ARB + 15,000 mdLP tokens
- 0.31 * 5,000 = 1,550 ARB + 5,000 mdLP tokens
User B will receive a total of 7,040 ARB + at least 25,000 mdLP tokens. (If the mdLP peg is lower than 95% relative to the price of dLP, Radpie will utilize the Smart Converter, resulting in an increased amount of mdLP.)
Claiming mdLP Tokens
Once participants have converted their dLP in the STIP dLP RUSH #3, they will promptly find their new mdLP amounts reflected in the mdLP Stability Vault.
Claiming ARB rewards
Upon converting their dLP in the STIP dLP RUSH #3, participants will instantly receive the ARB rewards they have earned, directly in their wallets.
The STIP dLP RUSH #3 is designed to decrease the circulating amount of RDNT tokens (dLP) from Radiant Capital and concurrently augment Radpie’s contributions to the Arbitrum community. The intent behind this plan is to offer sustained advantages, enhancing both the yields and the level of governance involvement within the Radiant ecosystem. This methodology is anticipated to deliver long-term rewards, aiming to foster the expansion of Arbitrum and its broad-scale adoption, reaching far past the duration of the STIP.
Get extra incentives from Radiant Capital
New mdLP converters via Arbitrum are eligible for an ARB airdrop from Radiant Capital, with a potential airdrop of up to 2,060,440 ARB for new 6–12 month dLP lockers.
Convert dLP into mdLP on the STIP dLP RUSH #3
About Radpie: Created as a SubDAO within Magpie, 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.
