Radiant Capital launches proposal seeking consensus on debt repayment and market stability after breach
Radiant Capital initiated the RFP-27 proposal, seeking consensus from Radiant DAO stakeholders on the strategy and timeline for capital restructuring and repayment of excess debt in the WETH market after the January 2nd vulnerability in the Arbitrum lending market. The options are as follows:
Option 1 is to use the liquidity DAO funds and operating costs to repay bad debts. The Radiant DAO treasury currently holds approximately $5,236,996 in non-RDNT assets, excluding ARB tokens allocated through the previous RFP.
Option 2 is the same as option 1, but includes using ETH obtained from the sale of RDNT tokens within 1 year to repay the DAO treasury. Given the attack value of 1,902 ETH (currently $4.3 million), this would involve the DAO selling approximately $360,000 worth of RDNT tokens per month over the next 12 months.
Option 3 is to abstain and redevelop the plan.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Crypto Analyst Flags Bearish Trends in Top Memecoins but Sees Potential Rebounds
Price action ahead of the inauguration is ‘rigged for unpredictability:’ K33
K33 analysts no longer think that Donald Trump’s inauguration is a sell the news event
Elon Musk slams SEC as ‘broken’ over ‘artificially’ created $150 million Twitter stock windfall
SEC claims Musk's delayed Twitter disclosure saved him $150 million and hurt retail investors.
MicroStrategy's preferred MSTR issuance seeks 'returns and volatility' at 1.5x bitcoin, Saylor says
MicroStrategy Executive Chairman Michael Saylor spoke Jan. 13 at a Benchmark-hosted investor meeting in Orlando.The company plans to raise up to $2 billion in the first quarter of 2025 by issuing perpetual preferred stock.
Trending news
MoreCrypto prices
More
