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

Radpie, as the "Convex" of RDNT, is about to launch, and its mechanism is similar to that of Convex on Curve. Radpie aims to provide users with a way to participate in mining without directly holding RDNT, which is similar to the model of Convex sharing veCRV.

The core mechanism of Radpie is to raise dLP (a Balancer pool LP token composed of 80% RDNT and 20% ETH) and share it with DeFi miners. Users can convert dLP into mDLP through Radpie, maintaining their RDNT position while enjoying high yields. This mechanism is expected to benefit the Radiant project as it can permanently lock part of the RDNT, support long-term liquidity, and attract more lightweight users.

The advantages of Radpie lie in its undervaluation and the backing of a strong entity. In horizontal comparison, Aura's FDV is about 35% of Balancer's, and Convex is 14% of Curve's. Considering that RDNT is a project with an FDV of 300 million USD and has already been listed on Binance, Radpie's valuation also has certain comparability. It is expected that the FDV of Radpie's IDO will be below 10 million USD, providing potential profit space for IDO participants.

Radpie has multiple narrative tags, including LayerZero, ARB airdrop, supranational leverage governance, internal and external dual circulation, and subDAO model. As the "Convex" of RDNT, Radpie will leverage LayerZero to achieve cross-chain interoperability. At the same time, it is expected to participate in the distribution of over 2 million ARB tokens decided by the RDNT DAO for the airdrop, which will be a great help for the project launch.

In terms of governance, Radpie adopts a super-sovereign leverage governance model. A large amount of RDP will be allocated to the Magpie treasury, allowing MGP holders to participate in the decision-making of the Radiant DAO through controlled RDP. This model creates a governance mechanism that inherently has leverage.

Radpie will also benefit from Magpie's internal and external dual circulation system. The internal circulation refers to reducing net external expenditure by circulating resources within the Magpie system, while the external circulation aims to reduce costs and increase efficiency through resource sharing among multiple projects.

For investors looking to participate in the Magpie series IDO, there are two ways to engage: long-term and short-term participation. Long-term participants can buy and hold vlMGP, which is expected to allow participation in all future subDAO IDOs of Magpie. Short-term arbitrage participation can be achieved by borrowing RDNT through collateral or hedging with short contracts, participating in the mDLP Rush event to convert DLP into mDLP, while also receiving RDP airdrops and IDO allocations.

Overall, Radpie, as "Convex" of RDNT, is expected to attract investors' attention due to its undervaluation and multiple narrative advantages. However, investors should remain cautious and fully understand the associated risks.