MIP #65 - Support for Radiant Capital’s Merged Claim Contracts Proposal

Abstract

This proposal seeks to gather feedback from vlMGP holders on whether Magpie should support Radpie’s proposal to endorse Radiant Capital’s plan for depositor reimbursement. The initiative involves deploying dedicated claim contracts on Arbitrum and BSC, allowing affected users to progressively withdraw their tokens as the contracts are recapitalized. The proposed mechanism aims to ensure an orderly and transparent recovery process for impacted depositors.

Motivation

Radiant Capital recently experienced a significant security breach, resulting in substantial user fund losses. To address the situation, Radiant has proposed a structured reimbursement plan that includes merging similar assets, streamlining claims, and facilitating progressive withdrawals through dedicated claim contracts. Radpie’s proposal aims to support this initiative, recognizing its importance in restoring confidence and ensuring fair compensation for affected stakeholders.

Magpie’s participation in this decision is essential to align with the best interests of its stakeholders and uphold its commitment to responsible governance within the ecosystem.

Specification

Vote on whether Magpie should support Radpie’s proposal to endorse Radiant Capital’s plan for deploying merged claim contracts on Arbitrum and BSC, enabling users to progressively withdraw their tokens as the contracts are recapitalized.

Link to Radiant Capital’s RFP-47: https://snapshot.org/#/s:radiantcapital.eth/proposal/0xd26b2405c33fcb0edf3684f85603eb008df617e846325de946f075f4f8be3a05