plsRDNT
A quick reference on plsASSETs.
Note: plsRDNT is currently not operational. Concrete progress is on hold pending the full restoration of Radiant’s lending markets.
On October 16th, 2024, Radiant Capital suffered a major exploit resulting in losses exceeding $53 million. Until Radiant fully re-establishes stable and secure operations, the deployment of plsRDNT remains paused.
We will reassess integration and potential launch timelines once Radiant’s lending markets are fully functional and deemed safe.
General Information
plsRDNT is an index (4626) built on top of the Radiant dLP. It is a liquid staking derivative of the max-locked dLP token on Radiant.
plsRDNT accrues value in dLP terms.
Users are encouraged to LP their plsRDNT tokens in the plsRDNT/RDNTWETH8020 pool on Balancer.
plsRDNT has a buyback & burn mechanism, which can be activated when the LP peg is below 1. This supports the peg while also increasing the index.
plsRDNT Rewards
plsRDNT earns 50% of the underlying dLP yield. This yield gets automatically compounded in to the index.
The remaining portion of the rewards is automatically used to bribe through Balancer and Aura using Hidden Hand. These rewards go to the LP. Please note that Balancer takes a fee for providing the automatic bribing infrastructure.
plsRDNT/RDNTWETH80/20 Liquidity Pool
plsRDNT users can LP their tokens against RDNTWETH on Balancer.
LPing is strongly encouraged, as it gets rewards from the following sources.
Rewards in BAL from bribing through Aura and Balancer using Hidden Hand with 50% of the underlying dLP yield.
esPLS rewards from Plutus.
A share of Radiant’s STIP rewards.
A share of Balancer’s STIP rewards.
Trading fees from the LP.
AURA rewards.
plsRDNT Diagram
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