🔥The dLP RUSH
Convert dLP into mdLP and get RDP rewards
Last updated
Convert dLP into mdLP and get RDP rewards
Last updated
Radpie, presented by Magpie as a SubDAO, is purpose-built to support the expansion of Radiant Capital and its associated ecosystem. In harmony with this strategy, we’re excited to roll out the dLP RUSH program. This time-bound initiative invites dLP holders (RDNT-ETH & RDNT-BNB) to convert their assets on Radpie, allowing them to get rewards in return.
Participating in the dLP RUSH program provides users with the opportunity to earn valuable rewards in the form of RDP tokens. RDP serves as the governance token of Radpie. We have set aside a substantial prize pool of 150,000 RDP tokens to be distributed as incentives for users who convert their dLP during the limited 15-day event. This accounts for 1.5% of the total token supply. By taking advantage of this unique opportunity, dLP holders can maximize their assets and benefit from rewards for their active participation on Radpie after the RDP token TGE.
The dLP Rush is a 15-day event, during which it is essential for users to convert their dLP holdings within the limited timeframe to fully take advantage of the rewards offered.
Enter now: dLP RUSH
During the dLP RUSH event, participants will accumulate points based on their dLP conversion, with a higher conversion amount providing more points. Users can unlock higher brackets of points per dLP by converting more dLP. dLP converters will receive varying amounts of RDP rewards based on the different points brackets they reach.
User A conversion fall into the first tier. User A will receive 1 point per each of his 600 dLP converted, receiving 600 points.
600 dLP x 1 point = 600 points
User B’s conversion falls into three tiers. For the first 600 dLP, User B will receive 1 point per dLP, for the next 2,400 dLP, will receive 1.1 points per dLP, and for the remaining 7,000 dLP, User B will receive 1.3 points per dLP. The calculation is as follows:
600 dLP x 1 point = 600 points
2,400 dLP x 1.1 points = 2,640 points
7,000 dLP x 1.3 points = 9,100 points
Total points for User B = 12,340 points
Each user’s portion will be calculated by dividing their individual points by the total points earned by all participants. This method ensures that the distribution of the RDP rewards pool is proportionate to the dLP conversion and points earned by each user, making it an equitable and informative approach to allocating rewards.
For each dLP converted during the dLP RUSH, users will receive 1 mDLP. This process ensures a clear and fair exchange for all users who participate in the event.
Following the Token Generation Event (TGE), users can claim 30% of the RDP tokens they’ve earned during the dLP RUSH. The remaining 70% of their RDP tokens will be gradually released over a one-year period, following a linear vesting schedule. This means that dLP RUSH participants will steadily receive their remaining RDP tokens throughout the year.
To make the dLP RUSH event widely accessible, it has been made available on both BNB Chain and Arbitrum. This ensures that users can easily participate in the event, regardless of their preferred network.
The dLP RUSH offers dLP holders a time-limited opportunity to convert their assets on Radpie. Users will receive 1 mdLP for each dLP converted and can earn rewards in the form of RDP tokens. Subsequently, users will be able to utilize their mdLP to earn additional dLP rewards on Radpie.
