RFP-48: Radiant DAO Inaugural Community Council Election

Abstract

RFP-48 advocates for the election of an Inaugural Community Council to restore trust, rebuild the protocol, and establish a sustainable future after two devastating hacks. The proposal aims to establish a truly decentralized governance structure, rebuild the protocol with security-first principles, and implement a community-led roadmap. An inaugural twelve-month community council will guide this transition, followed by an annual election process to ensure long-term decentralized governance.

Motivation

The protocol’s integrity and outlook have been severely compromised due to the recent two (2) hacks in 2024 totaling $60m+. Although the protocol fully recovered from the first hack ($4.5m in January) and every depositor was made whole, no one has been remediated for the second hack as of yet. The new community council represents the best opportunity to:

• Leverage the collective expertise, insight, and resources of the community.

• Create a fully transparent and inclusive governance structure.

• Shift from reactive crisis management to proactive innovation.

Rationale

1. Security Priority: Address vulnerabilities exposed by recent hacks by appointing specialized security experts to audit and tightly secure the protocol.

2. Decentralized Governance: Transition governance to a community-led DAO structure and restructure all decision-making processes around the Community itself.

3. Economic Recovery: Execute DAO-approved remediation plan/s, compensate depositors, and help those who lost in-wallet assets due to open unlimited approvals.

4. Recapitalization: Rebuild trust, reputation, and TVL to attract new users, partners, and potentially new investments.

5. Transparency: Provide open communication channels for decision-making and channels for feedback.

Implementation Details

Transition Plan

1. Establish Inaugural Community Council (Duration: 12 months)

   • Composition: 3 council members.

2. Secure the protocol

• Audit overall security: Leverage past and ongoing audits and ensure comprehensive coverage of:

  • Smart contract, front-end code, and infrastructure security.

  • Improve multi-sig wallet procedures and SOPs and other attack vectors including Remote Access Trojan (RAT).

  • Re-implement time-locked transactions with appropriate triggers and notifications.

  • Enhance monitoring systems for suspicious activities.

• Reduce Signing Occurrence: Re-engineer the stack to reduce the required signing occurrences to a minimum.

Critical Personnel Plan (see Attachment A)

Note: This attachment provides additional context for the readers and is subject to change. It is NOT within the scope of voting for this proposal.

Cost Estimates

Cost estimates will be provided throughout the transition phase as more protocol details, when available resources, and probable vs. possible scenarios are known.

Transition Milestones

1. Week 1-4:

• Form inaugural council, and initiate audits (security, financials, legal, contractual obligations, SOPs, staffing needs)

• Fully restore dApp functionality and integrity. Redefine and publish a new Roadmap with the recovery efforts included.

2. Month 2-3: Implement critical upgrades, and optimize available resources to the operating plans.

3. Month 4-12:

• Develop and deploy new markets and innovative DeFi solutions.

• Prioritize active chains, focusing heavily on ecosystems like Base, Arbitrum, and BSC.

• Expand RIZ markets to promote and capitalize on innovative protocols.

• Onboard strong altcoins as depositable assets to attract new users and diversify the platform's offerings.

Community Council Member Requirements:

Full KYC (Know Your Customer) and DOXXing will be required to the Radiant Core team and the law firm representing Supernova Holdings and the Radiant DAO.

Inaugural Community Council

Authority (among others):

• Signers for the DAO treasury within the ratified scope via DAO vote.

• Propose revenue allocation within the ratified scope via DAO vote.

• Propose any new economic parameters.

• Propose emissions allocations by chain of the RDNT token.

• Propose minting additional RDNT tokens within the ratified scope via DAO vote.

• All existing token and contractual obligations shall be fully honored.

• Minor Expenses Clause: Day-to-day salaries, contractor payments, operational costs, service providers, web hosting, and other expenses under $30,000 per month do not require an on-chain DAO vote. Instead, these expenses will be reported transparently to the community for 2025 and onwards.

Duration

If ratified, this RFP approves the formation of a 3-member Inaugural community council plus four (4) other signers for a 12-month term.

DAO Wallets and Signers

The inaugural community council, as well as the follow-on annually ratified councils, shall operate with the current multisig policy of 4/7. Since the 3 council members are one short of the required 4/7 multisig, 4 additional signers shall be elected to satisfy this critical requirement. Furthermore, life events such as lost keys or hardware wallet malfunctions, can happen. These long-tenure and trusted additional signers offer additional protection in these rare cases to ensure the minimum 4 signatures are covered. However, signers can only concur and sign proposed transactions, or not. They do not have the authority to make unilateral decisions or propose transactions.

Composition

• Daniel a.k.a Novin (DOXXED and KYC-d core contributor): Tokenomics, flywheel & product design, development lead, operational security.

  • BA in Social Sciences, MA in Economics.

  • Freelance Web Developer for 5 Years (Node.js, Next.js, JavaScript, HTML, CSS).

  • Built SaaS Businesses in the following niches: Web Hosting and Infrastructure Provider, Software Provider, Crypto Market Maker Service, Web3 Gaming Coin Aggregator, GameFi Protocol.

  • Invested in the crypto market since 2017, Web3 degen with several 100Xs (and 0Xs).

• Hung Vu (DOXXED and KYC-d core contributor): Overall operations, governance, product management, and community management.

  • BS Computer Science.

  • Radiant DAO Administrator & Community Manager (2yrs).

  • CTO, CPO, and COO experience with half a dozen start-up and turnaround assignments.

  • Top-10 Tech Leader (Washington Post’s TechWay Magazine)

• David Lloyd (DOXXED and KYC-d legal & regulatory contributor):

  • Founder & Managing Director of Bell Rock, a regulated and leading provider of director & governance services, entity formation, fund legal structuring and registration, compliance, registered office & corporate services, blockchain advisory services, DAO governance, economic plus substance solutions in the Cayman Islands.

  • 30 years of senior-level industry experience with Citi, UBS and BNP Paribas. CEO of CV5 Capital, a regulated umbrella digital asset hedge fund platform and management. On the boards of several Cayman foundations.

  • A lawyer of the bar of England & Wales, holds a MBA in finance from the University of London, LLB law degree, member of the International Bar Association, Executive Leadership from SAIB Business School, and Oxford University. David is a resident in the Cayman Islands.

• Shakotan (signer): Full-time senior backend developer who has been here since the protocol’s beginning.

  • Previously a core developer at BadgerDAO and Balancer

  • Senior back-end developer at Radiant.

• JD (signer**)**: Part-time pro bono full-stack developer who has been here since the protocol’s beginning.

  • Led Coin Bureau Recruitment tech department to win the SyncTheCity Hackathon

• Daigaro (signer): Part-time pro bono lead developer (back end) who has been here since.

  • Co-founded FujiFinance

  • Contributing to the Xocolatl MXN stablecoin

  • Former aerospace engineer

• Eliana (signer): FT social media manager, community manager, and part-time accountant.

  • Worked in crypto communities since 2021

  • Certified accountant (CPA) at one of the Big Four audit firms

  • Radiant Social Media Manager (1.5 years).

  • Supporting Radiant with accounting and administrative tasks.

Long-Term Governance

Community Council Elections:

• Terms: Held every 12 months.

  • Composition: 5 members (target profiles: 1 technical expert, 1 financial/legal specialist, 1 community representative, 2 strategic advisors). + 2 signers. 4/7 multi-sig.

  • Authority: Same as with the inaugural community council.

  • Member requirements:

• Membership in the Radiant Discord for at least 3 months.

• $10,000+ in funds across exploited contracts (BNB/Arbitrum), or holding $10,000+ worth of DLP (12-month lock).

• Strong command of English, and ability and willingness to openly debate concepts, ideas, and implementation details in a merit-based environment.

• Proficiency in blockchain technology, such as Hardware Wallet use, and proper SecOps.

• Bonus/Optional: A background in development, finance, economics, legal, or business.

Voting

• In Favor: Support the implementation of RFP-48 as proposed.

• Against: Reject RFP-48 as proposed.

• Abstained: Undecided, but contributing to quorum.

Attachments

Links to these Google Docs expose personal information. Use a temporary Google account or a private browser tab to avoid this exposure.

• (A) Critical Personnel Plan

• (B) Radiant DAO Governance Framework