Radpie: RDNT's "Convex" is about to launch

Recently, a new project called Radpie has attracted market attention. As the "Convex" of RDNT, Radpie aims to bring new vitality to the RDNT ecosystem. This article will delve into the mechanisms, advantages and disadvantages, narrative tags, and ways to participate in Radpie.

Radpie Mechanism Analysis

The core function of Radpie is to aggregate dLP and share it with DeFi miners, allowing them to participate in mining without holding RDNT. This mechanism is quite similar to the Convex model of sharing veCRV. For RNDT holders, they can convert dLP into mDLP through Radpie, obtaining high returns while maintaining their RNDT positions.

For the Radiant project, this mechanism helps attract more lightweight users while permanently locking support for RDNT's long-term liquidity. However, unlike Pendle or Curve, Radiant currently lacks a mechanism for incentive distribution determined by voting, and therefore does not have this portion of bribery income.

Nevertheless, Radiant has stated that it will continue to promote the construction of the DAO, which means that governance rights may gain more value in the future, and Radpie, which holds a significant amount of governance rights (dlp), is also expected to benefit from this.

Advantages and Disadvantages of Radpie

As an emerging platform relying on a mature project, Radpie has a relatively clear development outlook. Referring to the valuation situation of similar projects, such as Aura and Convex, Radpie's initial valuation is expected to be relatively low, providing potential profit space for early participants.

However, Radpie also faces some challenges. Compared to its parent DAO Magpie, Radpie lacks horizontal scalability. However, it will benefit from Magpie's subDAO ecosystem, which may compensate for this shortcoming to some extent.

Radpie's Narrative Tag

Radpie has multiple narrative tags, including LayerZero, ARB airdrop, super-sovereign leveraged governance, internal and external dual circulation, and subDAO model.

1. LayerZero: As the "Convex" of RNDT, Radpie will utilize LayerZero to achieve cross-chain interoperability.

2. ARB Airdrop: Radpie is expected to participate in the ARB airdrop allocation determined by RNDT DAO, which will be a strong support for the project launch.

3. Supersovereign Leverage Governance: By holding a large amount of RDP through the Magpie treasury, MGP holders can play an important role in Radiant DAO decision-making.

4. Dual Circulation: Radpie will become an important part of the Magpie ecosystem, participating in internal resource circulation and external cooperation.

5. subDAO model: As a subDAO of Magpie, Radpie will inherit the reputation of the parent DAO while energizing the ecosystem through an independent token.

How to participate in Radpie IDO

Based on the previous IDO experience of Penpie, it is expected that the participation methods for Radpie's IDO will include the following types:

1. Hold vlMGP for the long term: This may allow participation in all future subDAO IDOs of Magpie, but it is significantly affected by MGP price fluctuations.

2. Short-term arbitrage: Participate in the mDLP Rush event to convert DLP into mDLP while also receiving RDP airdrops and IDO shares.

3. Directly purchase RDNT to participate in mDLP Rush: suitable for investors who have a long-term holding intention for RDNT.

It is important to note that the price relationship of mDLP/DLP is a soft peg rather than a hard peg, and it may not maintain a 1:1 ratio upon exit.

Conclusion

Radpie, as the "Convex" of RDNT, has the advantage of a lower valuation and reliance on mature projects. It integrates multiple narratives, including LayerZero, ARB airdrop, super-sovereign leverage governance, internal and external dual circulation, and subDAO model. For investors interested in participating, they can choose long-term or short-term participation strategies based on their own situation. However, like all investments, participants should carefully assess risks and conduct thorough research and preparation.