Today we’re excited to announce plsRDNT, our newest plsAsset. Radiant has quickly established itself as a leading money-market protocol on Arbitrum with the vision of going cross-chain imminently. Radiant is built on LayerZero tech from the ground up, giving it a unique advantage in the competition of cross-chain money markets.
Having amassed a total market size of nearly $300,000,000 in total, with over $6,500,000 in real yield paid to platform users, they’re now elevating their approach with a massive platform upgrade — Radiant V2. Radiant’s vision with their V2 upgrade is to become crypto’s most profitable protocol through real yield, sustainable emissions and aligning all stakeholders through clever incentive mechanisms.
However, we’re not stopping at plsRDNT — down the line we’re also going to be building vaults on Radiant that will elevate a Radiant users’ experience and yield to an entirely new level.
Introducing plsRDNT
We take an extremely rigorous and prudent approach when assessing which assets to add to our platform. We have been following Radiant for a long time, and are nothing short of impressed with their team, innovative platform development and stringent governance process.
Given all the above, plsRDNT will be Plutus’ 4th plsAsset — joining the ranks of plsDPX, plsSPA and plsJONES. In Radiant’s v2 model, only users that add value to the protocol unlock the ability to receive emissions. This is achieved through a concept called Dynamic Liquidity. In Radiant’s Dynamic Liquidity model, users have to lock at least 5% of their total deposit size as dLP (locked LP tokens) in order to be eligible for emissions. This aligns users and LPs, while eliminating purely mercenary capital. A fantastic solution, and quite alike to our Plutus V2 tokenomics, which are coming out by the end of March! There’s a lot more in Radiant V2 that we’re excited about — to read all about it, please refer to Radiant’s V2 Medium articles here and here.
The way plsRDNT will work is simple and familiar to Plutus users. Users can deposit their Radiant LP tokens (WETH-RDNT-BPT) on Plutus to receive plsRDNT. Under the hood, the LP tokens are max-locked for 12 months on Radiant in perpetuity, ensuring that users will always be eligible for maximum rewards. Those rewards will then be streamed to plsRDNT stakers on Plutus!
As usual, we will have a 1 month period where there will not be an exit pool, but during which plsRDNT stakers will earn boosted PLS emissions on top of their max-locked RDNT token rewards. 1 month after launch we will introduce an exit pool, similar to plsDPX-DPX. We see plsRDNT as the perfect addition to our plsAsset family — users get max-locked rewards without having to lock their tokens for a year, while $PLS lockers accrue the governance power from the underlying RDNT LP tokens.
plsRDNT stakers can expect to receive income from three sources of fees — all fees accruing to the underlying dLP, PLS emissions and a portion of rewards from our dLP boosted radiant deposit vaults. Plutus takes a 12% fee on the total yield (PLS emissions not included), which is in line with other plsAssets. All of this makes using plsRDNT materially more attractive than locking through Radiant, as locking through Plutus results in increased yields and an exit option.
A Preview of plvRDNT
plsRDNT will act synergistically with our upcoming vault product built on Radiant — appropriately titled as plvRDNT. plvRDNT users will be able to share the boosting power acquired through underlying dLP locking for plsRDNT. This means that depositing assets onto Radiant through Plutus will result in higher yields for users, as users will receive RDNT emissions in addition to base APYs without having to lock the 5% of total deposit size as dLP themselves. Our keepers will ensure that the highest yielding assets are being farmed. Depositors will be rewarded an IOU token, which can be staked in our RDNT reward vesting contract. From the contract, users that staked their IOU token can claim vesting RDNT on a first-in-first-out basis. More details about our plvRDNT vault will be released at a later date.
We’re excited to welcome Radiant to the Plutus family, as the de-facto Layer 2 governance blackhole keeps on accumulating the top assets on Arbitrum. 🌀🟢
