RDNT token jumps 20% following Radiant Capital’s new liquidity plan
Key Takeaways
- Radiant Capital's proposal RFP-44 aims to optimize RDNT token emission and cross-chain liquidity.
- The proposal includes a weekly rebalance and a 24-hour grace period for RDNT holders.
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Radiant Capital’s RDNT token experienced a 20% increase following the introduction of a proposal aimed at optimizing the emission schedule and enhancing cross-chain liquidity, according to data from CoinGecko.
Radiant Capital recently put forward RFP-44, a proposal to refine the distribution strategies initially set out in RFP-35. Instead of using qLP as the basis for determining airdrop allocation, it proposes using qRDNT, which represents the total amount of locked RDNT in a user’s cross-chain portfolio.
As part of RFP-44, 25% of future RDNT token supply, amounting to a total of 125 million RDNT tokens, will be allocated to users who lock their tokens. The strategy is designed to incentivize token holders to engage in locking their assets, thereby enhancing liquidity and stability within the ecosystem
The proposal also seeks to implement a chain-agnostic approach to tracking locked RDNT and uses a weekly rebalance and streaming mechanism for fair emissions distribution. In addition, it introduces a 24-hour grace period, which will allow users to relock their positions and maintain their qRDNT status, preventing forfeiture.
The team says the Radiant app will be updated to display qRDNT balances, alert users about relock deadlines and provide information on weekly rebalances.
As noted, the voting period for this proposal runs from August 31, 2024, to September 5, 2024, with current results showing overwhelming support.
The implementation of RFP-44 is anticipated to enhance Radiant Capital’s operational efficiency and user engagement without incurring additional costs.
Following the introduction of the proposal, the RDNT token climbed from $0.078 to $0.095, representing a 20% increase, according to CoinGecko. The price has since settled at around $0.093.
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