Under the Arbitrum Short-Term Incentive Program (STIP), 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 #4.
STIP dLP RUSH #4
This initiative offers dLP holders on Arbitrum an distinctive opportunity to convert their dLP into mdLP through Radpie, receiving ARB tokens as rewards. A total of 145,130 ARB tokens await participants, motivating them to contribute to Radpie’s growth and earn additional passive income along with ARB rewards.
How to Participate?
To participate in STIP dLP RUSH #4, individuals must convert their dLP into mdLP on Radpie through Arbitrum. For this event, Radpie has dedicated 145,130 ARB tokens from the Arbitrum STIP as a reward for users who make this conversion. The window for participation spans five days.
Throughout STIP dLP RUSH #4, 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 #4, 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 #4 Reward Structure
In the STIP dLP RUSH #4, participants receive ARB rewards based on the amount of dLP they convert into mdLP. The rewards are structured in brackets, and as participants move beyond a certain bracket, the rewards for subsequent brackets are determined by the cumulative dLP tokens converted. Participants have the opportunity to perform different transactions to increase their conversion of dLP, enabling them to progress to higher reward tiers.
Brackets of Rewards
Example:
1. User A converts 1,000 dLP
User A will receive:
- 0.5 ARB * 1,000 = 500 ARB + 1,000 mdLP tokens
2. User B converts 25,000 dLP
User B will receive:
- 0.5 * 1,000 = 500 ARB + 1,000 mdLP tokens
- 0.52 * 4,000 = 2080 ARB + 4,000 mdLP tokens
- 0.56 * 15,000 = 8400 ARB + 15,000 mdLP tokens
- 0.62 * 5,000 = 3100 ARB + 5,000 mdLP tokens
User B will receive a total of 14,080 ARB plus 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).
Reference
Receiving mdLP Tokens
Upon converting dLP, participants in the STIP dLP RUSH #4 will promptly have their mdLP balance credited to the mdLP Staking Pool.
Claiming ARB rewards
Participants in the STIP dLP RUSH #4 will immediately have their earned ARB rewards distributed to their wallets upon converting dLP.
The essence of this STIP dLP RUSH #4 is to reduce the circulation of RDNT tokens (dLP) from Radiant Capital while simultaneously enhancing Radpie’s offerings to the Arbitrum community. This strategy aims to provide lasting opportunities, boosting yields and governance participation in the Radiant ecosystem. Such an approach is expected to yield enduring benefits, aiming to bolster Arbitrum’s growth and its widespread acceptance, extending well beyond the timeframe of the STIP.
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
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.
