Radiant Capital STIP.B Bi-Weekly Report 1 [7/1/2024]

Radiant Capital STIP.B Bi-Weekly Update 1 [07/01/2024]

Recap of the Previous Two Weeks

Radiant has started STIP with strong TVL results, in large part thanks to collaborations with Ether Fi, Magpie, GMX, and Lido. Radiant has the highest 7d TVL growth among top-ranking protocols on Arbitrum at 18%, followed by Magpie, which utilizes Radiant money markets. Radiant is thankful to the Arbitrum DAO for providing the grant. Radiant will strive to achieve the most optimal results while being efficient with grant incentive usage.

ARB Received Last Disbursement: 1,426,022

ARB Utilized as Incentives in the Last Two Weeks: 164,573

Contracts incentivized over the last 2 weeks:

Merkl distributor: 0x3ef3d8ba38ebe18db133cec108f4d14ce00dd9ae

Radiant receipt tokens incentivized via Merkl:

Ether Fi rweETH [lenders]: 0xb11A56DA177c5532D5E29cC8363d145bD0822c81

**Ether Fi vdweETH [borrowers]:**0x2D7d510Dc21F5384C9efd30811D0366F8b4269DF

GMX v2 rgmBTC: 0x876f38f474e48a104c4af4f06ca488099c436c93

GMX v2 rgmETH: 0xd15a6568dc891fd04aa2f64af56c66c2bede59d6

Magpie Incentive multisig (wstETH & USDC Incentives): 0x294a419eb4c5ddd2dd7fb3161489afc5eed9780a

Contract address label Form 45 completed for all addresses: YES

ARB left over: 1,261,449

Plan for leftover ARB:

1. weETH (416,666 ARB)

The weETH market incentives have been live for the past two weeks and have shown remarkable performance. To date, Radiant has received over 5,790 weETH in deposits, equivalent to $20.85 million at the time of writing, and over 2,780 weETH in borrows, valued at $10 million.

Since the initiation of STIP rewards, the total value locked (TVL) for weETH has surged from 1.79k weETH to 3.04k weETH, marking a significant increase of approximately 70% in TVL.

Source: https://defillama.com/protocol/radiant-v2#tvl-charts

Beyond the STIP incentives allocated to the market, Radiant’s collaboration with EtherFi has introduced a 3x multiplier for both lenders and borrowers in EtherFi points. This collaboration has significantly enhanced the market’s incentive structure, offering attractive yields and additional rewards from EtherFi and EigenLayer.

As a result of these efforts, the Radiant weETH contract is the third-largest holder of weETH on Arbitrum in a matter of weeks, following only Aave and Pendle.

Source: https://arbiscan.io/token/0x35751007a407ca6feffe80b3cb397736d2cf4dbe#balances

Following a thorough analysis and recommendations from Chaos Labs, Radiant increased the borrowing capacity from 1,600 weETH to 3,200. Consequently, Radiant will adjust the incentive distribution from an 80-20 split to a 75-25 split between lenders and borrowers. This adjustment should enhance borrowing incentives without penalizing or discouraging deposits.

2. Radpie wstETH vault (104,166 ARB)

The wstETH market incentives have been running for the past week, initially supported solely by Radiant’s incentives. Thanks to an upcoming collaboration with Lido, who will match Radiant’s incentives for the market, Radiant expects a substantial increase in market participation.

This wstETH initiative is carried out on Radpie due to its unique ability to create vaults with automatic 3.46x looping, which was desired by Lido to co-incentivize the market.

Since the introduction of these incentives, there has been a clear increase in TVL, bolstering our confidence that the market will perform exceptionally well once the total planned incentives from both Radiant and Lido are in full effect. Prior to the initiative, the TVL stood at approximately $408k, and as of now, it has surged to $2.4M, marking an impressive growth of 490%.

Source: https://dune.com/radiant/arbitrum-stip-bridge

Radiant and Lido will assess the campaign’s results after 30 days and determine whether to continue as planned or make adjustments.

3. GMX v2 gmBTC & gmETH (346,666 ARB)

Both markets launched two weeks ago as collateral-only, allowing GMX v2 users to unlock the borrowing power of their positions.

Before the STIP rewards initiation, gmBTC and gmETH had a total TVL of $372k and $288k, respectively. Since the incentives went live, gmBTC has increased to $1.17M, and gmETH has increased to $1.9M, resulting in a 365% combined increase in TVL for both markets.

Radiant decided to kick off the campaign by lowering the initial ARB amount stated in the proposal for the first week to assess user behavior.

Collaborating closely with GMX will be crucial for the success of these markets. Therefore, a space on the X social network has been coordinated for Monday, July 1st. Radiant protocol will provide additional incentives before the event to gauge market reaction.

4. Radpie USDC lenders (120,000 ARB)

The recent bull market has led to Radiant users choosing to de-prioritize holding stablecoins such as USDC, preferring leverage and volatile assets. This stance has led to a decrease in USDC lenders, causing USDC borrow rates to spike.

Recognizing the need to stabilize these rates, Radiant is prioritizing efforts to enhance the native USDC market, in alignment with the goals of Arbitrum, Gauntlet, and Circle to foster greater adoption of this asset.

This effort is being carried out through Radpie, leveraging previous STIP initiatives that incentivized stablecoin pools and yielded favorable outcomes. The initiative has already shown outstanding results within the first two days, with an initial TVL of 2.9M growing to 5.3M, reflecting an 82.75% increase. These promising outcomes reinforce Radiant’s confidence in enhancing market stability and promoting broader adoption of native USDC on Arbitrum.

5. Radiant v3 (RIZ): Isolated lending - USDC vault (238,524 ARB)

The incentives are not active yet, as the launch is estimated for July.

6. Radiant v3 (RIZ): Isolated lending - assets (200,000 ARB)

The incentives are not active yet, as the launch is estimated for July.

Check out the Radiant v3 teaser on YouTube!

https://youtu.be/8d4lp17qg_I?si=BQXxzeAta7Zl7Mpl

Summary of incentives:

  1. weETH (416,666 ARB)
  2. Radpie wstETH vault (104,166 ARB)
  3. GMX v2 gmBTC & gmETH (346,666 ARB)
  4. Radpie USDC vault (120,000 ARB)
  5. Radiant v3 (RIZ): Isolated lending - USDC vault (238,524 ARB)
  6. Radiant v3 (RIZ): Isolated lending - assets (200,000 ARB)

Radiant DAO has prepared a detailed document to track the incentives. Check it out here: https://docs.google.com/spreadsheets/d/1EDNd5G4K9u0z6sf5zmERycYff0Pwj9p9Zm0-ostPcrQ/edit?usp=sharing

Additional Info / Disclosures to Multisig: None.

STATS

Average daily TVL: $63.1M

https://defillama.com/protocol/radiant#tvl-charts

Average daily transactions: 21,819

https://dune.com/queries/3888020

Average daily volumes: data pending

Number of unique user addresses: 280,658

https://dune.com/queries/3888010/6535104

Transaction fees: 06/19 - 07/02 $14,053

https://dune.com/queries/3879009/6523815

Link to Dashboard showing metrics: https://dune.com/radiant/arbitrum-stip-bridge

Plan For the Next Two Weeks

Amount of ARB to be distributed: 133,874

Contracts that will be incentivized:

rweETH [lenders]: 0xb11A56DA177c5532D5E29cC8363d145bD0822c81

vdweETH [borrowers]: 0x2D7d510Dc21F5384C9efd30811D0366F8b4269DF

rgmBTC: 0x876f38f474e48a104c4af4f06ca488099c436c93

rgmETH: 0xd15a6568dc891fd04aa2f64af56c66c2bede59d6

Radpie: 0x294a419eb4c5ddd2dd7fb3161489afc5eed9780a

Contract address label Form 45 completed for all addresses: YES

Mechanism for distribution incentives:

  • Angle’s Merkl: 0x3ef3d8ba38ebe18db133cec108f4d14ce00dd9ae \

    • weeth
    • gmBTC
    • gmETH
  • Radpie Treasury Multisig: 0x294a419eb4c5ddd2dd7fb3161489afc5eed9780a \

    • wsteth
    • USDC

Radiant will disclose the incentive mechanism for Riz USDC and Riz assets once they go live.

Summary of incentives plan:

1. weETH (64,102.46 ARB)

This initiative is in progress. As detailed earlier, due to increased borrow capacity, Radiant has adjusted from an 80-20 split between lenders and borrowers to a 75-25 split.

2. Radpie wstETH vault (17,361 ARB)

This initiative is in progress. Lido’s incentives are expected to be active alongside Radiant’s in the coming weeks.

3. GMX v2 gmBTC & gmETH (57,571.80 ARB)

This initiative is in progress. Radiant DAO expect that the collaboration with GMX will promote growth in both markets. Incentives will be adjusted based on observed performance.

4. Radpie USDC vault (60,000 ARB)

This initiative is in progress and will continue until July 24th.

5. Radiant v3 (RIZ): Isolated lending - USDC vault (0 ARB)

No incentives until RIZ launch.

6. Radiant v3 (RIZ): Isolated lending - assets (0 ARB)

No incentives until RIZ launch.

Summary of changes to the original plan:

Reallocation of Isekai & Reduction of GMX V2 Initiatives:

The only changes made to the original proposal involve reallocating tokens originally earmarked for these two initiatives towards the native USDC lending incentive, for the reasons outlined above.

  • Reallocation of Isekai Initiative: Incentives originally allocated to Isekai have been redirected to native USDC lending following Isekai’s decision to cease operations.

  • Reduction of GMX V2: As mentioned earlier, lower-than-expected adoption of GMX markets prompted a decision to reallocate a total of $70,000 (divided equally between gmBTC and gmETH) towards incentivizing USDC on Radpie.

This adjustment includes $50,000 originally allocated for Isekai and $70,000 from the GMX markets, bringing the total reassigned amount to $120,000 for the USDC market.

This STIP program will run until July 24th.

3 Likes

Radiant Capital Bi-Weekly Update 2 [07/15/2024]

Recap of the Previous Two Weeks

ARB Received Last Disbursement: 237,671

ARB Utilized as Incentives in the Last Two Weeks: 150,582

Contracts incentivized over the last 2 weeks:

  • Merkl distributor: 0x3ef3d8ba38ebe18db133cec108f4d14ce00dd9ae

Radiant receipt tokens incentivized via Merkl:

  • Ether Fi rweETH [lenders]: 0xb11A56DA177c5532D5E29cC8363d145bD0822c81

  • Ether Fi vdweETH [borrowers]:**0x2D7d510Dc21F5384C9efd30811D0366F8b4269DF

  • GMX v2 rgmBTC: 0x876f38f474e48a104c4af4f06ca488099c436c93

  • GMX v2 rgmETH: 0xd15a6568dc891fd04aa2f64af56c66c2bede59d6

  • Magpie Incentive multi-sig (wstETH & USDC Incentives): 0x294a419eb4c5ddd2dd7fb3161489afc5eed9780a

Contract address label Form 45 completed for all addresses: YES

ARB left over: 1,110,867

Plan for leftover ARB:

Over the past two weeks, Radiant has followed the detailed plan from the first update and achieved outstanding results across all initiatives.

For the upcoming two weeks, Radiant will make some adjustments to stay in sync with the evolving ecosystem and maximize the grant.

  1. weETH (416,666 ARB)

    Since the last update, the weETH market has experienced a 21% increase in Total Value Locked (TVL), rising from 3.04k weETH to 3.7k weETH. The recent deposit and borrow caps increase was well-timed, and they are now approaching these new limits. As a result, Radiant is collaborating with Chaos Labs to assess further increases. All of these factors have contributed to Radiant maintaining its strategic position as the third-largest smart contract holder of weETH on Arbitrum behind Aave & Pendle.

Source: https://defillama.com/protocol/radiant-v2#tvl-charts

Due to the performance, Ether Fi has agreed to extend the 3x multiplier with Radiant, and additional avenues of collaboration will be explored to continue the positive performance. Radiant plans to increase RDNT emissions to the weETH market, which may result in the potential reallocation of ARB to other campaigns.

  1. Radpie wstETH vault (34,722 ARB)

    The Radpie wstETH campaign will be discontinued. Although the results were promising, with a significant increase in Total Value Locked (TVL) due to user engagement and vault usage, the high usage of the looped vault resulted in spiked borrow rates, which affected the campaign’s effectiveness.


Source: https://dune.com/queries/3913995/6579610/

  1. GMX v2 gmBTC & gmETH (300,548 ARB)

    Since the start of this campaign, Radiant has amassed over $5.5 million in deposits across both markets. As a result, Radiant has established a strong position among the top holders of each GM asset, ranking 12th for gmBTC (0x876F38f474e48A104c4af4F06cA488099C436C93) and 7th for gmETH (0xd15a6568Dc891Fd04Aa2f64aF56C66C2bede59d6).

Source: https://dune.com/radiant/arbitrum-stip-bridge

Radiant believes there is still room for growth. It will continue with the incentives, slightly adjusting the total amount and reallocating some ARB to other promising initiatives detailed below.

  1. Radpie USDC lenders (150,000 ARB)

The main aim of this initiative was to stabilize the utilization rate of USDC at Radiant. After reviewing the metrics, it’s clear that the initiative has had a positive impact. After introducing incentives, the utilization rate has decreased from over 80% to 60%.

Source: https://dune.com/queries/3909163/6570636

Radiant is adding an extra 30,000 ARB to this initiative. The last batch of incentives will go live on July 30th.

  1. Radiant v3 (RIZ): Isolated lending - USDC vault (232,666 ARB)

    The incentives are not active yet; the launch is still estimated for July.

  2. Radiant v3 (RIZ): Isolated lending - assets (200,000 ARB)

    The incentives are not active yet; the launch is still estimated for July.

  3. ezETH & rsETH (43,400 ARB & 48,020 ARB)

    As per RFP-41 and RFP-42 ratifications, Radiant will add ezETH (Renzo Liquid Restaking Token) and rsETH (Kelp DAO Liquid Restaking Token) as core markets. The LRT narrative remains strong, and following the success of the weETH market, Radiant is confident that these new markets will also perform well.

Source: https://defillama.com/protocols/Liquid Restaking

Additionally, Radiant is collaborating closely with both protocols to create positive synergies and maximize incentives. This includes adding points multipliers alongside the ARB incentives.

Furthermore, Radiant will be one of the first lending protocols with substantial TVL to implement these LRTs, which is anticipated to strengthen its competitive position further.

This initiative will go live once the markets are launched, expected by July 30th.

Summary of incentives:

  1. weETH (416,666 ARB)
  2. Radpie wstETH vault (34,722 ARB)
  3. GMX v2 gmBTC & gmETH (300,548 ARB)
  4. Radpie USDC vault (150,000 ARB)
  5. Radiant v3 (RIZ): Isolated lending - USDC vault (232,666 ARB)
  6. Radiant v3 (RIZ): Isolated lending - assets (200,000 ARB)
  7. ezETH (43,400 ARB)
  8. rsETH (48,020 ARB)

** TOTAL 1,426,022 ARB**

Radiant DAO has prepared a detailed document to track the incentives. Check it out here: https://docs.google.com/spreadsheets/d/1EDNd5G4K9u0z6sf5zmERycYff0Pwj9p9Zm0-ostPcrQ/edit?usp=sharing**

Additional Info / Disclosures to Multisig: None.

STATS

Average daily TVL: $55.94M

https://defillama.com/protocol/radiant#tvl-charts

Average daily transactions: 11,918

https://dune.com/queries/3888020

Average daily volumes: N/A

Number of unique user addresses: 289,067

https://dune.com/queries/3888010/6535104

Transaction fees: 07/3 - 07/16 $7,733

https://dune.com/queries/3879009/6523815

Link to Dashboard showing metrics: https://dune.com/radiant/arbitrum-stip-bridge

Plan For the Next Two Weeks

Amount of ARB to be distributed: 155,742.96

Contracts that will be incentivized:

rweETH [lenders]: 0xb11A56DA177c5532D5E29cC8363d145bD0822c81

vdweETH [borrowers]: 0x2D7d510Dc21F5384C9efd30811D0366F8b4269DF

rgmBTC: 0x876f38f474e48a104c4af4f06ca488099c436c93

rgmETH: 0xd15a6568dc891fd04aa2f64af56c66c2bede59d6

rezETH: TBA once the market is live

rrsETH: TBA once the market is live

Radpie: 0x294a419eb4c5ddd2dd7fb3161489afc5eed9780a

Contract address label Form 45 completed for all addresses: YES

Mechanism for distribution incentives:

  • Angle’s Merkl: 0x3ef3d8ba38ebe18db133cec108f4d14ce00dd9ae

    • weeth
    • gmBTC
    • gmETH
    • ezETH
    • rsETH
  • Radpie Treasury Multisig: 0x294a419eb4c5ddd2dd7fb3161489afc5eed9780a

    • USDC

Radiant will disclose the incentive mechanism for Riz USDC and Riz assets once they go live.

Summary of incentives plan:

  1. weETH (64,102.46 ARB)

    This initiative is in progress.

  2. Radpie wstETH vault (8,680.5 ARB)

    This initiative will end after this last batch of incentives.

  3. GMX v2 gmBTC & gmETH (52,960 ARB)

    This initiative is in progress.

  4. Radpie USDC vault (30,000 ARB)

    This initiative is in progress and will continue until July 30th.

  5. Radiant v3 (RIZ): Isolated lending - USDC vault (0 ARB)

    No incentives until RIZ launch.

  6. Radiant v3 (RIZ): Isolated lending - assets (0 ARB)

    No incentives until RIZ launch.

  7. ezETH (0 ARB)

    No incentives until market launch.

  8. rsETH (0 ARB)

    No incentives until market launch.

Summary of changes to the original plan:

Reallocation of ARB: Adjustments to GMX v2, Conclusion of wstETH, and Reduction in RIZ USDC Vault.

Since the last update, the changes introduced to the original plan include the following key details:

  • A reduction of 46,118 ARB from GMX v2 incentives.
  • Conclusion of the wstETH campaign, leaving a total of 69,444 ARB leftover.
  • A cut of 5,858 ARB from the RIZ USDC vault, which initiative hasn’t started yet due to RIZ not being live.

From the changes detailed above, 121,420 ARB have been reallocated: 30,000 ARB will go to the Radpie USDC vault, and the remaining ARB will go to the two new upcoming initiatives - the ezETH market (43,000) and the rsETH market (48,020).

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Radiant Capital Bi-Weekly Update 3 [07/29/2024]

Recap of the Previous Two Weeks

ARB Received Last Disbursement: 237,671

ARB Utilized as Incentives in the Last Two Weeks: 201,784.46

Contracts incentivized over the last 2 weeks:

Merkl distributor: 0x3ef3d8ba38ebe18db133cec108f4d14ce00dd9ae

Radiant receipt tokens incentivized via Merkl:

Ether Fi rweETH [lenders]: 0xb11A56DA177c5532D5E29cC8363d145bD0822c81

Ether Fi vdweETH [borrowers]: 0x2D7d510Dc21F5384C9efd30811D0366F8b4269DF

GMX v2 rgmBTC: 0x876f38f474e48a104c4af4f06ca488099c436c93

GMX v2 rgmETH: 0xd15a6568dc891fd04aa2f64af56c66c2bede59d6

Magpie Incentive multi-sig (wstETH & USDC Incentives): 0x294a419eb4c5ddd2dd7fb3161489afc5eed9780a

Contract address label Form 45 completed for all addresses: YES

ARB left over: 909,082

Plan for leftover ARB:

Since the last update, the TVL of the incentivized markets has continued to grow steadily.

Source: https://defillama.com/protocol/radiant-v2#tvl-charts [weETH, USDC, gmETH, gmBTC]

This sustained growth allows Radiant to maintain strong performance over extended periods. Currently, Radiant is positioned as the 3rd largest lending protocol on Arbitrum, following Aave and Compound. Moreover, among the top 5 lending protocols on the chain, Radiant has achieved the best 7-day performance.

Source: https://defillama.com/protocols/Lending/Arbitrum

As mentioned in previous updates, the plan for the grant will be dynamic to keep pace with the evolving rhythm of this ecosystem.

The detailed plan as of today is as follows:

  1. weETH (444,307 ARB)

The weETH market has been very successful, with 80% of its supply cap being utilized and its borrow cap at 88% capacity.

Source: https://community.chaoslabs.xyz/radiant

In response to this strong demand, Chaos Labs recommended doubling both the deposit and borrow caps. To support this growth and maintain engagement, Radiant has allocated additional ARB to this initiative, increasing the total from 416,166 to 444,307 ARB. This increase will keep the incentives attractive and account for the expanded caps.

  1. Radpie wstETH vault (69,444 ARB)

The Radpie wstETH vault campaign, which was briefly paused, is now resuming with renewed incentives. This short pause allowed the market to stabilize, lowering the utilization rate from 40% to 17%.

Source: https://community.chaoslabs.xyz/radiant/risk/markets/Arbitrum/listed-assets/wstETH

In response to continued support from Lido, Radiant is allocating an additional 34,722 ARB to this initiative for August, bringing the total ARB incentives for the vault to 69,444 ARB.

The refreshed incentives are designed to attract new users and maintain active participation, ultimately contributing to the vault’s ongoing success and vitality.

  1. GMX v2 gmBTC & gmETH (300,548 ARB)

The GMX v2 gmBTC and gmETH initiative continues to gain momentum. Since the campaign’s inception, Radiant has accumulated over $10 million in deposits across both markets. This success has elevated Radiant’s position among the top holders, now ranking 7th for gmBTC (0x876F38f474e48A104c4af4F06cA488099C436C93) and 5th for gmETH (0xd15a6568Dc891Fd04Aa2f64aF56C66C2bede59d6).

Source: https://defillama.com/protocol/radiant-v2#tvl-charts

Radiant remains committed to supporting these markets with ongoing incentives. The campaign continues as planned, with no changes to the current strategy. Moving forward, Radiant will monitor progress and consider adjustments to optimize impact and support further growth.

  1. Radpie USDC lenders (290,000 ARB)

The Radpie USDC lenders initiative is being extended through the end of the STIP campaign. An additional 170,000 ARB is being allocated to support this extension, ensuring that the initiative remains effective in stabilizing the USDC utilization rate.

This extension aims to maintain the positive impact achieved so far and continue supporting the USDC market’s stability through the remainder of the campaign.

  1. Radiant v3 (RIZ): Isolated lending - USDC & ETH vault (81,585 ARB)

Radiant is preparing for the launch of its Radiant v3 (RIZ) isolated lending markets in the coming weeks. The deployment is currently in the final stages of testing and is expected to go live soon.

Initially, two vaults will be introduced: one for USDC and another for ETH. These vaults aim to offer users a more straightforward method to participate in RIZ, with the potential for higher returns, though with increased risk compared to the core markets (USDC or WETH on Arbitrum), which offer lower risk and returns.

For the launch, a total of 81,585 ARB has been allocated, with 27,195 ARB designated for the WETH vault and 54,390 ARB for the USDC vault. This allocation is intended to incentivize engagement and attract users to the new vaults.

  1. Unallocated ARB (274,860 ARB)

These ARB tokens are set aside for potential allocation to either RIZ assets or new core market assets. Radiant will provide additional details on their usage once the new launches are live and decisions about the allocation of these tokens have been finalized.

Summary of incentives:

  1. weETH (444,307 ARB)
  2. Radpie wstETH vault (69,444 ARB)
  3. GMX v2 gmBTC & gmETH (300,548 ARB)
  4. Radpie USDC vault (290,000 ARB)
  5. Radiant v3 (RIZ): Isolated lending - USDC & ETH vault (81,585 ARB)
  6. Unallocated ARB (240,138 ARB)

TOTAL 1,426,022 ARB

:paperclip: Radiant DAO has prepared a detailed document to track the incentives. Check it out here: https://docs.google.com/spreadsheets/d/1EDNd5G4K9u0z6sf5zmERycYff0Pwj9p9Zm0-ostPcrQ/edit?usp=sharing

Additional Info / Disclosures to Multisig: None.

STATS

Average daily TVL: $62.14M

https://defillama.com/protocol/radiant#tvl-charts

Average daily transactions: 12,426

https://dune.com/queries/3888020

Average daily volumes: N/A

Number of unique user addresses: 301,079

https://dune.com/queries/3888010/6535104

Transaction fees: 07/17 - 07/30 $4,562

https://dune.com/queries/3879009/6523815

Link to Dashboard showing metrics: https://dune.com/radiant/arbitrum-stip-bridge

Plan For the Next Two Weeks

Amount of ARB to be distributed: 215,631

Contracts that will be incentivized:

rweETH [lenders]: 0xb11A56DA177c5532D5E29cC8363d145bD0822c81

vdweETH [borrowers]: 0x2D7d510Dc21F5384C9efd30811D0366F8b4269DF

rgmBTC: 0x876f38f474e48a104c4af4f06ca488099c436c93

rgmETH: 0xd15a6568dc891fd04aa2f64af56c66c2bede59d6

RIZ USDC Vault: TBA once the vault is live

RIZ WETH Vault: TBA once the vault is live

Radpie: 0x294a419eb4c5ddd2dd7fb3161489afc5eed9780a

Contract address label Form 45 completed for all addresses: YES

Mechanism for distribution incentives:

  • Angle’s Merkl: 0x3ef3d8ba38ebe18db133cec108f4d14ce00dd9ae \

    • weeth
    • gmBTC
    • gmETH
  • Radpie Treasury Multisig: 0x294a419eb4c5ddd2dd7fb3161489afc5eed9780a \

    • USDC

Radiant will disclose the incentive mechanism for Riz USDC/WETH once they go live.

Summary of incentives plan:

  1. weETH (72,000 ARB)

This initiative is in progress.

  1. Radpie wstETH vault (17,361 ARB)

This initiative is in progress.

  1. GMX v2 gmBTC & gmETH (52,960 ARB)

This initiative is in progress.

  1. Radpie USDC vault (50,000 ARB)

This initiative is in progress.

  1. Radiant v3 (RIZ): Isolated lending - USDC & WETH vault (23,310 ARB)

Incentives will start once RIZ launches.

Summary of changes to the original plan:

Reallocation of ARB

In the previous update, some initiatives were included that involved incentives for both upcoming RIZ markets and core markets that are nearing launch.

As these markets are not yet active, the decision has been made to consolidate the ARB allocated for these initiatives into a new category of “Unallocated ARB.” Updates on the status and utilization of these tokens will be provided as they are deployed.

As of now, the changes to the original plan can be summarized as follows:

  • An increase of 27,641 ARB to the weETH market.
  • An additional 34,722 ARB allocated to the wstETH vault.
  • An increase of 140,000 ARB for the Radpie USDC vault.
  • Reallocation of 151,081 ARB from the RIZ vaults.
  • Reallocation of 91,420 ARB initially designated for ezETH and rsETH markets.
  • Creation of the “Unallocated ARB” fund to group tokens without a specific destination at the time of writing.

Radiant Capital Bi-Weekly Update 4 [08/12/2024]

Recap of the Previous Two Weeks

ARB Received Last Disbursement: 237,671

ARB Utilized as Incentives in the Last Two Weeks: 254,960

Contracts incentivized over the last 2 weeks:

Merkl distributor: 0x3ef3d8ba38ebe18db133cec108f4d14ce00dd9ae

Radiant receipt tokens incentivized via Merkl:

Ether Fi rweETH [lenders]: 0xb11A56DA177c5532D5E29cC8363d145bD0822c81

**Ether Fi vdweETH [borrowers]: **0x2D7d510Dc21F5384C9efd30811D0366F8b4269DF

GMX v2 rgmBTC: 0x876f38f474e48a104c4af4f06ca488099c436c93

GMX v2 rgmETH: 0xd15a6568dc891fd04aa2f64af56c66c2bede59d6

Magpie Incentive multi-sig (wstETH & USDC Incentives): 0x294a419eb4c5ddd2dd7fb3161489afc5eed9780a

Contract address label Form 45 completed for all addresses: YES

ARB left over: 654,123

Plan for leftover ARB:

As we head into the ninth week of the STIP Bridge, Radiant continues with its strong performance.

Despite market instability, Radiant’s TVL has remained stable, showcasing the protocol’s resilience and strong market position. Radiant maintains the 13th place among the top protocols on the chain, reflecting its robust standing.

Additionally, Radiant has successfully maintained positive synergies with other involved protocols, contributing to the overall positive outcomes achieved during these weeks.

For weETH, Radiant remains one of the top holders, with over 5.7k weETH in deposits. The 3x multiplier on EtherFi points is still active, positioning Radiant as one of the select few protocols benefiting from this distinctive boost.

The initiatives undertaken with Radpie have also shown remarkable performance, with both markets operating at or near full capacity.

The GM pools have experienced a slight decline in deposits over the past few weeks, most likely due to volatile market conditions. However, despite this, Radiant maintains a significant concentration of these assets, holding approximately 3% of the total gmBTC and 4% of gmETH.

The incentives for the RIZ vaults have yet to be distributed, as RIZ is expected to go live this week. The initiative will begin once the launch is completed and the necessary infrastructure is in place.

The plan for the upcoming weeks remains consistent with the previous update, with all the aforementioned initiatives continuing as planned. The only change is the allocation of 80k ARB from the unallocated pool to Radpie for a new dLP Rush event.

Radpie has successfully executed these events in the past, which involve converting dLP to mdLP (Radpie’s liquid version of dLP), thereby incentivizing long-term commitment within the protocol. The dLP is a core component of Radiant’s structure, and given the success of past events, these ARB tokens have been assigned to support another round. During the STIP-b period, Radpie allocated 40k from its own grant to a dLP Rush that took place a few weeks ago.

The event was active for just 5 days and successfully converted 145,000 dLP during that period.


https://x.com/Radpiexyz_io/status/1820311342084997609

Summary of incentives:

  1. weETH (444,307 ARB)
  2. Radpie wstETH vault (69,444 ARB)
  3. GMX v2 gmBTC & gmETH (300,548 ARB)
  4. Radpie USDC vault (290,000 ARB)
  5. Radiant v3 (RIZ): Isolated lending - USDC & ETH vault (81,585 ARB)
  6. dLP Rush (80,000 ARB)
  7. Unallocated ARB (160,138 ARB)

TOTAL 1,426,022 ARB

<aside> :paperclip: **Radiant DAO has prepared a detailed document to track the incentives. Check it out here: https://docs.google.com/spreadsheets/d/1EDNd5G4K9u0z6sf5zmERycYff0Pwj9p9Zm0-ostPcrQ/edit?usp=sharing**

Additional Info / Disclosures to Multisig: None.

STATS

Average daily TVL: $63.89M

https://defillama.com/protocol/radiant#tvl-charts

Average daily transactions: 10,330

https://dune.com/queries/3888020

Average daily volumes: N/A

Number of unique user addresses: 302,769

https://dune.com/queries/3888010/6535104

Transaction fees: 07/31 - 08/13 $15,937

https://dune.com/queries/3879009/6523815

Link to Dashboard showing metrics: https://dune.com/radiant/arbitrum-stip-bridge

Plan For the Next Two Weeks

Amount of ARB to be distributed: 215,631

Contracts that will be incentivized:

rweETH [lenders]: 0xb11A56DA177c5532D5E29cC8363d145bD0822c81

vdweETH [borrowers]: 0x2D7d510Dc21F5384C9efd30811D0366F8b4269DF

rgmBTC: 0x876f38f474e48a104c4af4f06ca488099c436c93

rgmETH: 0xd15a6568dc891fd04aa2f64af56c66c2bede59d6

RIZ USDC Vault: TBA once the vault is live

RIZ WETH Vault: TBA once the vault is live

Radpie: 0x294a419eb4c5ddd2dd7fb3161489afc5eed9780a

Contract address label Form 45 completed for all addresses: YES

Mechanism for distribution incentives:

  • Angle’s Merkl: 0x3ef3d8ba38ebe18db133cec108f4d14ce00dd9ae \

    • weeth
    • gmBTC
    • gmETH
  • Radpie Treasury Multisig: 0x294a419eb4c5ddd2dd7fb3161489afc5eed9780a \

    • USDC

Radiant will disclose the incentive mechanism for Riz USDC/WETH once they go live.

Summary of incentives plan:

  1. weETH (72,000 ARB)

This initiative is in progress.

  1. Radpie wstETH vault (17,361 ARB)

This initiative is in progress.

  1. GMX v2 gmBTC & gmETH (52,960 ARB)

This initiative is in progress.

  1. Radpie USDC vault (50,000 ARB)

This initiative is in progress.

  1. Radiant v3 (RIZ): Isolated lending - USDC & WETH vault (23,310 ARB)

Incentives will start once RIZ launches.

  1. dLP Rush (80,000 ARB)

ARB tokens have been sent to Radpie so they can handle the event.

Summary of changes to the original plan:

Reallocation of ARB

The only change included in this update is the allocation of 80,000 ARB to Radpie for a new round of dLP Rush, as previously mentioned.

Radiant Capital Bi-Weekly Update 5 [08/26/2024]

Recap of the Previous Two Weeks

ARB Received Last Disbursement: 237,671

ARB Utilized as Incentives in the Last Two Weeks: 198,268

Contracts incentivized over the last 2 weeks:

Merkl distributor: 0x3ef3d8ba38ebe18db133cec108f4d14ce00dd9ae

Radiant receipt tokens incentivized via Merkl:

Ether Fi rweETH [lenders]: 0xb11A56DA177c5532D5E29cC8363d145bD0822c81

Ether Fi vdweETH [borrowers]:

GMX v2 rgmBTC: 0x876f38f474e48a104c4af4f06ca488099c436c93

GMX v2 rgmETH: 0xd15a6568dc891fd04aa2f64af56c66c2bede59d6

RIZ Markets:

rzZRO: 0x6636f59f7c7548B18eafb870f362d795e16a1F5C

rzVdZRO: 0x695fDA202E10C4cD4Db7909FCA5a138Ed4A24761

rzUSDC: 0x1d4Dd351de6Ce43968Ad172e744DF87f54cFdCA1

rzVdUSDC: 0xf6CEc0cd09D7e5F0C7A29d184d394D9205cbdEEa

rzrsETH: 0x1260c7d9612503d517629d01F2b67e32BDD92c60

rzVdrsETH: 0x4C3be75431AeA6faCA899cd4E176d707f89357A2

rzWETH: 0x42c487738111689331b4BFe59DE42b22f8C00eB6

rzVdWETH: 0xdFB736fE0c4a3437203Bd6815A05Bf17A645d631

rzezETH: 0xf4a3B4aECE09EaC774f679FD7113EF9A60bc6E25

rzVdWETH: 0xafEA6c16a870FA08cCd9885A5955681e12Bfb5aD

rzWETH: 0x3f1b4266FC2093dEE636222a40F4ae9A288b8fbe

rzVdezETH: 0xB3cCC556c1f4502C1760096192C271BBaa50624E09

Magpie Incentive multi-sig (wstETH & USDC Incentives): 0x294a419eb4c5ddd2dd7fb3161489afc5eed9780a

Contract address label Form 45 completed for all addresses: YES

ARB left over: 455,854

Plan for leftover ARB:

Since the last update, Radiant has introduced some exciting new features. One of the core elements of v3, as outlined in RFP-28, has come to fruition, with Arbitrum being the first chain to embrace it. This feature is the Radiant Innovation Zone (RIZ), which brings isolated markets to the forefront. RIZ allows listing a diverse range of tokens, including more exotic, popular, and emerging assets while enhancing security due to the isolated nature of these markets.

While TVL has remained relatively stable, this stability is notable given current market conditions. Deposits and borrowings within the chain have both shown a balanced increase, with deposits rising by 8% and borrowings by 15%.

Currently, three isolated markets are live on Arbitrum: ZRO/USDC, rsETH/WETH, and ezETH/WETH. Together, these markets have accumulated over $6 million in deposits and $3.7 million in borrows.

https://dune.com/radiant/arbitrum-stip-bridge

Incentives for RIZ markets started on August 15th, two days after the launch, and since then, the TVL has been steadily increasing. A total of 46,615 ARB have been allocated to incentivize these markets, with 11,653 ARB distributed per week and last week marked the first instance of ARB from STIP being utilized.

This initiative will continue until the end of STIP-b, and any additional isolated markets introduced during this period will also be included in the incentive program.

Although the RIZ vaults are already live alongside the markets, the framework for distributing incentives to these vaults is still being finalized. Consequently, ARB from STIP will be incentivized if the architecture if ready before the end of STIP.

WeETH, GM assets, and USDC incentives have remained unchanged since the last update. All markets have remained relatively stable, with no significant changes in deposits or borrowings. No changes are planned for these initiatives in the upcoming weeks.

Lido has decided to extend the incentives period for the wstETH market on Radpie by an additional month. In response, Radiant has allocated 26,041.5 ARB tokens to cover the incentives until the end of STIP-b.

Additionally, the Radpie team managed the second round of dLP Rush, adding 20,000 ARB, resulting in 100,000 ARB for the event. All details can be found here. 342,074 dLP have been converted (approximately $173k at current values). This will allow an increase in the quota for the different markets, as the dLP eligibility was close to becoming ineligible. Furthermore, the peg with mdLP (Radpie’s liquid version of dLP) has been improved due to the buy-back mechanism implemented by the team. This is also beneficial for Radiant since Radpie’s success is closely tied to Radiant, with approximately $18 million of Radiant’s deposits originating from Radpie’s protocol.

Around 15,000 ARB from the 100k mentioned were left over from this event. These tokens will likely be used for a new round of dLP Rush. Further details can be found in Magpie’s STIP update.

Source: https://dune.com/magpieanalytics/rush-2024-magpie#dlp-rush-stipb-2

Lastly, with the approval of RFP-40, the USDe market is set to launch on Arbitrum in the coming days. Ethena’s synthetic dollar, USDe, has shown positive market cap, liquidity, and volatility trends, indicating it’s well-positioned for inclusion on Radiant. 75,000 ARB has been allocated, with 60% going to lenders and 40% to borrowers over the remaining three weeks.

Summary of incentives:

  1. weETH (444,307 ARB)
  2. Radpie wstETH vault (95,486 ARB)
  3. GMX v2 gmBTC & gmETH (300,548 ARB)
  4. Radpie USDC vault (290,000 ARB)
  5. Radiant v3 (RIZ): Isolated lending - USDC & ETH vault (34,965 ARB)
  6. Radiant v3 (RIZ): Isolated lending (46,615 ARB)
  7. dLP Rush (80,000 ARB)
  8. USDe (75,000 ARB)
  9. Unallocated ARB (59,101 ARB)

TOTAL 1,426,022 ARB

Radiant DAO has prepared a detailed document to track the incentives. Check it out here: https://docs.google.com/spreadsheets/d/1EDNd5G4K9u0z6sf5zmERycYff0Pwj9p9Zm0-ostPcrQ/edit?usp=sharing

Additional Info / Disclosures to Multisig: None.

STATS

Average daily TVL: $65.46M

https://defillama.com/protocol/radiant#tvl-charts

Average daily transactions: 10,990

https://dune.com/queries/3888020

Average daily volumes: N/A

Number of unique user addresses: 303,782

https://dune.com/queries/3888010/6535104

Transaction fees: 08/14 - 08/27 $3,018

https://dune.com/queries/3879009/6523815

Link to Dashboard showing metrics: https://dune.com/radiant/arbitrum-stip-bridge

Plan For the Next Two Weeks

Amount of ARB to be distributed: 288,938.7

Contracts that will be incentivized:

rweETH [lenders]: 0xb11A56DA177c5532D5E29cC8363d145bD0822c81

vdweETH [borrowers]: 0x2D7d510Dc21F5384C9efd30811D0366F8b4269DF

rgmBTC: 0x876f38f474e48a104c4af4f06ca488099c436c93

rgmETH: 0xd15a6568dc891fd04aa2f64af56c66c2bede59d6

RIZ markets:

rzZRO: 0x6636f59f7c7548B18eafb870f362d795e16a1F5C

rzVdZRO: 0x695fDA202E10C4cD4Db7909FCA5a138Ed4A24761

rzUSDC: 0x1d4Dd351de6Ce43968Ad172e744DF87f54cFdCA1

rzVdUSDC: 0xf6CEc0cd09D7e5F0C7A29d184d394D9205cbdEEa

rzrsETH: 0x1260c7d9612503d517629d01F2b67e32BDD92c60

rzVdrsETH: 0x4C3be75431AeA6faCA899cd4E176d707f89357A2

rzWETH: 0x42c487738111689331b4BFe59DE42b22f8C00eB6

rzVdWETH: 0xdFB736fE0c4a3437203Bd6815A05Bf17A645d631

rzezETH: 0xf4a3B4aECE09EaC774f679FD7113EF9A60bc6E25

rzVdWETH: 0xafEA6c16a870FA08cCd9885A5955681e12Bfb5aD

rzWETH: 0x3f1b4266FC2093dEE636222a40F4ae9A288b8fbe

rzVdezETH: 0xB3cCC556c1f4502C1760096192C271BBaa50624E09

RIZ USDC Vault: TBA once the vault is live

RIZ WETH Vault: TBA once the vault is live

Radpie: 0x294a419eb4c5ddd2dd7fb3161489afc5eed9780a

Contract address label Form 45 completed for all addresses: YES

Mechanism for distribution incentives:

  • Angle’s Merkl: 0x3ef3d8ba38ebe18db133cec108f4d14ce00dd9ae \

    • weeth
    • gmBTC
    • gmETH
    • RIZ markets
  • Radpie Treasury Multisig: 0x294a419eb4c5ddd2dd7fb3161489afc5eed9780a \

    • USDC
    • wstETH

Radiant will disclose the incentive mechanism for Riz USDC/WETH once they go live.

Summary of incentives plan:

  1. weETH (72,000 ARB)

This initiative is in progress.

  1. Radpie wstETH vault (17,361 ARB)

This initiative is in progress.

  1. GMX v2 gmBTC & gmETH (52,960 ARB)

This initiative is in progress.

  1. Radpie USDC vault (50,000 ARB)

This initiative is in progress.

  1. Radiant v3 (RIZ): Isolated lending - USDC & WETH vault (23,310 ARB)

Incentives will start once the framework for distributing incentives to these vaults is ready.

  1. Radiant v3 (RIZ): Isolated lending (23,307.7 ARB)

This initiative is in progress.

  1. USDe (50,000 ARB)

Incentives will start once the market is live.

Summary of changes to the original plan:

Reallocation of ARB

As detailed above, the only changes introduced are:

  • 26,042 ARB to wstETH for the extension.
  • 46,620 ARB adjustment to RIZ Vaults due to the delayed start of the campaign.
  • 46,615 ARB assigned to RIZ markets.
  • 75,000 ARB assigned to the USDe market.
  • 101,038 ARB to balance the above amounts extracted from the unallocated ARB.

Radiant Capital Bi-Weekly Update 6 [09/09/2024]

Recap of the Previous Two Weeks

ARB Received Last Disbursement: 237,671

ARB Utilized as Incentives in the Last Two Weeks: 297,446

Contracts incentivized over the last 2 weeks:

Merkl distributor: 0x3ef3d8ba38ebe18db133cec108f4d14ce00dd9ae

Radiant receipt tokens incentivized via Merkl:
- Ether Fi rweETH [lenders]: 0xb11A56DA177c5532D5E29cC8363d145bD0822c81
- Ether Fi vdweETH [borrowers]: 0x2D7d510Dc21F5384C9efd30811D0366F8b4269DF
- GMX v2 rgmBTC: 0x876f38f474e48a104c4af4f06ca488099c436c93
- GMX v2 rgmETH: 0xd15a6568dc891fd04aa2f64af56c66c2bede59d6

RIZ Markets:
- rzZRO: 0x6636f59f7c7548B18eafb870f362d795e16a1F5C
- rzVdZRO: 0x695fDA202E10C4cD4Db7909FCA5a138Ed4A24761
- rzUSDC: 0x1d4Dd351de6Ce43968Ad172e744DF87f54cFdCA1
- rzVdUSDC: 0xf6CEc0cd09D7e5F0C7A29d184d394D9205cbdEEa
- rzrsETH: 0x1260c7d9612503d517629d01F2b67e32BDD92c60
- rzVdrsETH: 0x4C3be75431AeA6faCA899cd4E176d707f89357A2
- rzWETH:** 0x42c487738111689331b4BFe59DE42b22f8C00eB6
- rzVdWETH:** 0xdFB736fE0c4a3437203Bd6815A05Bf17A645d631
- rzezETH:** 0xf4a3B4aECE09EaC774f679FD7113EF9A60bc6E25
- rzVdWETH:** 0xafEA6c16a870FA08cCd9885A5955681e12Bfb5aD
- rzWETH:** 0x3f1b4266FC2093dEE636222a40F4ae9A288b8fbe
- rzVdezETH:** 0xB3cCC556c1f4502C1760096192C271BBaa50624E09
- rzGMX:** 0x2bBEc6CAae9c55DCdBC61F5E5e79D0Bb74840499
- rzVdGMX**: 0xB0740361249d49866D2aA04178f75B098BcA6c89
- rzUSDC (GMX)**: 0x0135e5b758f707c5D3583A365FB872D4582E6256
- rzVdUSDC (GMX)**: 0x33c53f967535EFB642DB59B72dB890db40D7c76E
- rzPT-wstETH:** 0x26545042f0D6284D9D9e45E45D7FD67318a8F1AE
- rzWETH (PT-wstETH):** 0x5886Dd993f098a1f90b46a0523D2918abB8B8F33
- rzVdWETH (PT-wstETH):** 0x0B0Cf1ebC5d78056E58D7a7FCDDaab9463117088
- rzgmARB:** 0xA1e8BcA313700aDD1f7bC2a70D64461c682e2Cdf
- rzUSDC (gmARB):** 0x5E3f9EC5594CDE166EbE456E90524B5335f3C8A3
- rzVdUSDC (gmARB):** 0xa7e55539FB9bD15C2c715F7E245F8cFd2a8BB8F5
- rzUSDY:** 0xb128F5c6cA0198eF404e017ACbC2ea2a8c08646D
- rzVdUSDY:** 0x7ab720c90358569e3F84f8440785035Ae7FaD835
- rzUSDC (USDY):** 0xb128F5c6cA0198eF404e017ACbC2ea2a8c08646D
- rzVdUSDC (USDY):** 0x7ab720c90358569e3F84f8440785035Ae7FaD835

Magpie Incentive multi-sig (wstETH & USDC Incentives): 0x294a419eb4c5ddd2dd7fb3161489afc5eed9780a

Contract address label [Form 45](https://docs.google.com/forms/d/e/1FAIpQLSd2AYnjAaQjVOLtvemZpsWoN5sTJEJ8dLqdRDExTBQv_SUeug/viewform) completed for all addresses:** YES

ARB left over: 158,409

Plan for leftover ARB:

Despite recent market challenges and the quieter activity in the DeFi space, Radiant has made strides, ranking 8th among the top 10 trending Arbitrum dApps by active users over the past 30 days. This achievement underscores the growing trust and interest from the community as Radiant strengthens its presence on the chain. The ongoing support and initiatives from the Arbitrum DAO have been instrumental in this success, driving increased user engagement and ensuring Radiant’s continuous growth.

Source: https://dappradar.com/rankings/protocol/arbitrum?range=30d

The Radiant Innovation Zone (RIZ) markets have been a major highlight during this period. Four new RIZ markets have launched, each supported by ARB tokens from the grant program. As a result, RIZ now holds nearly $8 million in deposits and $4 million in borrows, further solidifying its role in providing a diverse range of risk-isolated assets to users.

Source: https://community.chaoslabs.xyz/radiant/risk/markets

Following the previous allocation of 46,615 ARB to RIZ markets, an additional 14,819 ARB has been added due to the launch of these new markets. In the past week, 19,946 ARB has been distributed, with an additional 19,946 ARB already set aside for the final week of STIP-b.

Regarding the vaults, the infrastructure for distributing rewards took some time, but as of August 30th, ARB from STIP-b has started to stream. 8,318 ARB has been assigned to this initiative, with 3,276 ARB scheduled for distribution in the final week.

The initiatives related to weETH, GM assets, USDC, and wstETH are expected to continue as planned for the remainder of the campaign.

Lastly, USDe, the newest core market within Radiant’s money market, has shown strong adoption. Deposits have surpassed $3.7M, with $2.7M in borrows. The previously allocated 75,000 ARB will remain unchanged, with 25,000 ARB set to be distributed in the campaign’s final week.

Source: https://community.chaoslabs.xyz/radiant/risk/markets/Arbitrum-Core/listed-assets/USDe

Summary of incentives:

  1. weETH (444,307 ARB)
  2. Radpie wstETH vault (95,486 ARB)
  3. GMX v2 gmBTC & gmETH (300,548 ARB)
  4. Radpie USDC vault (290,000 ARB)
  5. Radiant v3 (RIZ): Isolated lending - USDC & ETH vault (8,318ARB)
  6. Radiant v3 (RIZ): Isolated lending (61,434 ARB)
  7. dLP Rush (80,000 ARB)
  8. USDe (75,000 ARB)
  9. Unallocated ARB (70,929 ARB)

TOTAL 1,426,022 ARB

Radiant DAO has prepared a detailed document to track the incentives

Check it out here

Additional Info / Disclosures to Multisig: None.

STATS

Average daily TVL: $49.9M

https://defillama.com/protocol/radiant#tvl-charts

Average daily transactions: 7,906

https://dune.com/queries/3888020

Average daily volumes: N/A

Number of unique user addresses: 304,763

https://dune.com/queries/3888010/6535104

Transaction fees: 08/28 - 09/10 $4,996

https://dune.com/queries/3879009/6523815

Link to Dashboard showing metrics: https://dune.com/radiant/arbitrum-stip-bridge

Plan For the Next Two Weeks

Amount of ARB to be distributed: 148,722.75

Contracts that will be incentivized:

- rweETH [lenders]:** 0xb11A56DA177c5532D5E29cC8363d145bD0822c81
- vdweETH [borrowers]:** 0x2D7d510Dc21F5384C9efd30811D0366F8b4269DF
- rgmBTC:** 0x876f38f474e48a104c4af4f06ca488099c436c93
- rgmETH:** 0xd15a6568dc891fd04aa2f64af56c66c2bede59d6
- RIZ markets:**
- rzZRO:** 0x6636f59f7c7548B18eafb870f362d795e16a1F5C
- rzVdZRO:** 0x695fDA202E10C4cD4Db7909FCA5a138Ed4A24761
- rzUSDC:** 0x1d4Dd351de6Ce43968Ad172e744DF87f54cFdCA1
- rzVdUSDC:** 0xf6CEc0cd09D7e5F0C7A29d184d394D9205cbdEEa
- rzrsETH:** 0x1260c7d9612503d517629d01F2b67e32BDD92c60
- rzVdrsETH:** 0x4C3be75431AeA6faCA899cd4E176d707f89357A2
- rzWETH:** 0x42c487738111689331b4BFe59DE42b22f8C00eB6
- rzVdWETH:** 0xdFB736fE0c4a3437203Bd6815A05Bf17A645d631
- rzezETH:** 0xf4a3B4aECE09EaC774f679FD7113EF9A60bc6E25
- rzVdWETH:** 0xafEA6c16a870FA08cCd9885A5955681e12Bfb5aD
- rzWETH:** 0x3f1b4266FC2093dEE636222a40F4ae9A288b8fbe
- rzVdezETH:** 0xB3cCC556c1f4502C1760096192C271BBaa50624E09
- rzGMX:** 0x2bBEc6CAae9c55DCdBC61F5E5e79D0Bb74840499
- rzVdGMX**: 0xB0740361249d49866D2aA04178f75B098BcA6c89
- rzUSDC (GMX)**: 0x0135e5b758f707c5D3583A365FB872D4582E6256
- rzVdUSDC (GMX)**: 0x33c53f967535EFB642DB59B72dB890db40D7c76E
- rzPT-wstETH:** 0x26545042f0D6284D9D9e45E45D7FD67318a8F1AE
- rzWETH (PT-wstETH):** 0x5886Dd993f098a1f90b46a0523D2918abB8B8F33
- rzVdWETH (PT-wstETH):** 0x0B0Cf1ebC5d78056E58D7a7FCDDaab9463117088
- rzgmARB:** 0xA1e8BcA313700aDD1f7bC2a70D64461c682e2Cdf
- rzUSDC (gmARB):** 0x5E3f9EC5594CDE166EbE456E90524B5335f3C8A3
- rzVdUSDC (gmARB):** 0xa7e55539FB9bD15C2c715F7E245F8cFd2a8BB8F5
- rzUSDY:** 0xb128F5c6cA0198eF404e017ACbC2ea2a8c08646D
- rzVdUSDY:** 0x7ab720c90358569e3F84f8440785035Ae7FaD835
- rzUSDC (USDY):** 0xb128F5c6cA0198eF404e017ACbC2ea2a8c08646D
- rzVdUSDC (USDY):** 0x7ab720c90358569e3F84f8440785035Ae7FaD835
- RIZ USDC Vault:** 0x2e7Aa06A0F0816De4b1A32a12B0aC4Eb584BFF2A
- RIZ WETH Vault: 0x86df48f8dc91504d2b3e360d67513f094dfa6c84**
- Radpie:** 0x294a419eb4c5ddd2dd7fb3161489afc5eed9780a

Contract address label Form 45 completed for all addresses: YES

Mechanism for distribution incentives:

  • Angle’s Merkl: 0x3ef3d8ba38ebe18db133cec108f4d14ce00dd9ae \

    • weETH
    • gmBTC
    • gmETH
    • RIZ markets
    • RIZ Vaults
  • Radpie Treasury Multisig: 0x294a419eb4c5ddd2dd7fb3161489afc5eed9780a \

    • USDC
    • wstETH

Summary of incentives plan:

  1. weETH (36,000 ARB): This initiative is in progress.
  2. Radpie wstETH vault (13,020.75 ARB): This initiative is in progress.
  3. GMX v2 gmBTC & gmETH (26,480 ARB): This initiative is in progress.
  4. Radpie USDC vault (25,000 ARB): This initiative is in progress.
  5. Radiant v3 (RIZ): Isolated lending - USDC & WETH vault (3,276 ARB): This initiative is in progress.
  6. Radiant v3 (RIZ): Isolated lending (19,946 ARB): This initiative is in progress.
  7. USDe (25,000 ARB): This initiative is in progress.

Summary of changes to the original plan:

Reallocation of ARB

As detailed above, the only changes introduced are:

  • 26,647 ARB adjusted to RIZ Vaults due to the delayed start of the campaign. \

  • +14,819 ARB assigned to RIZ markets. \

  • +11,829 ARB added to the unallocated ARB. Radiant will return any unused ARB to the Arbitrum DAO after the STIP-b incentive period.

Radiant Capital Final STIP Bridge Report [09/23/2024]

Recap of the Previous Two Weeks

  • ARB Received Last Disbursement: 237,671 ARB
  • ARB Utilized as Incentives in the Last Two Weeks: 87,480 ARB

Contracts incentivized over the last 2 weeks:

Merkl distributor: 0x3ef3d8ba38ebe18db133cec108f4d14ce00dd9ae

Radiant receipt tokens incentivized via Merkl:

  • Ether Fi rweETH [lenders]: 0xb11A56DA177c5532D5E29cC8363d145bD0822c81
  • Ether Fi vdweETH [borrowers]: 0x2D7d510Dc21F5384C9efd30811D0366F8b4269DF
  • GMX v2 rgmBTC: 0x876f38f474e48a104c4af4f06ca488099c436c93
  • GMX v2 rgmETH: 0xd15a6568dc891fd04aa2f64af56c66c2bede59d6

RIZ Markets:

  • rzZRO: 0x6636f59f7c7548B18eafb870f362d795e16a1F5C
  • rzVdZRO: 0x695fDA202E10C4cD4Db7909FCA5a138Ed4A24761
  • rzUSDC: 0x1d4Dd351de6Ce43968Ad172e744DF87f54cFdCA1
  • rzVdUSDC: 0xf6CEc0cd09D7e5F0C7A29d184d394D9205cbdEEa
  • rzrsETH: 0x1260c7d9612503d517629d01F2b67e32BDD92c60
  • rzVdrsETH: 0x4C3be75431AeA6faCA899cd4E176d707f89357A2
  • rzWETH: 0x42c487738111689331b4BFe59DE42b22f8C00eB6
  • rzVdWETH: 0xdFB736fE0c4a3437203Bd6815A05Bf17A645d631
  • rzezETH: 0xf4a3B4aECE09EaC774f679FD7113EF9A60bc6E25
  • rzVdWETH: 0xafEA6c16a870FA08cCd9885A5955681e12Bfb5aD
  • rzWETH: 0x3f1b4266FC2093dEE636222a40F4ae9A288b8fbe
  • rzVdezETH: 0xB3cCC556c1f4502C1760096192C271BBaa50624E09
  • rzGMX: 0x2bBEc6CAae9c55DCdBC61F5E5e79D0Bb74840499
  • rzVdGMX: 0xB0740361249d49866D2aA04178f75B098BcA6c89
  • rzUSDC (GMX): 0x0135e5b758f707c5D3583A365FB872D4582E6256
  • rzVdUSDC (GMX): 0x33c53f967535EFB642DB59B72dB890db40D7c76E
  • rzPT-wstETH: 0x26545042f0D6284D9D9e45E45D7FD67318a8F1AE
  • rzWETH (PT-wstETH): 0x5886Dd993f098a1f90b46a0523D2918abB8B8F33
  • rzVdWETH (PT-wstETH): 0x0B0Cf1ebC5d78056E58D7a7FCDDaab9463117088
  • rzgmARB: 0xA1e8BcA313700aDD1f7bC2a70D64461c682e2Cdf
  • rzUSDC (gmARB): 0x5E3f9EC5594CDE166EbE456E90524B5335f3C8A3
  • rzVdUSDC (gmARB): 0xa7e55539FB9bD15C2c715F7E245F8cFd2a8BB8F5
  • rzUSDY: 0xb128F5c6cA0198eF404e017ACbC2ea2a8c08646D
  • rzVdUSDY: 0x7ab720c90358569e3F84f8440785035Ae7FaD835
  • rzUSDC (USDY): 0xb128F5c6cA0198eF404e017ACbC2ea2a8c08646D
  • rzVdUSDC (USDY): 0x7ab720c90358569e3F84f8440785035Ae7FaD835

Magpie Incentive multi-sig (wstETH & USDC Incentives): 0x294a419eb4c5ddd2dd7fb3161489afc5eed9780a

ARB left over: 70,929 ARB

Unused 70,929 ARB have been returned to the ltipp multisig

Summary of incentives

STIP Recap

During the past months, Radiant has reached important milestones, with the STIP-b grant playing a crucial role in helping Radiant solidify its position within the ecosystem.

Since the start of STIP-b, Radiant has introduced several core markets, including the USDe market and GM pools. These additions have opened up opportunities for users to simultaneously take advantage of products from other top protocols, such as GMX and Ethena, further enhancing the utility and attractiveness of these markets.

Another significant milestone was the launch of the Radiant Innovation Zone (RIZ), which enabled the creation of isolated markets. The listing of high-demand tokens, paired with the additional rewards supported by the STIP-b grant, has been instrumental in attracting user attention and driving notable TVL growth over the past weeks.

Source: https://community.chaoslabs.xyz/radiant/risk/markets

Radiant’s collaborations with key projects like Radpie and Lido have also been fruitful. The wstETH initiative, driven by Radpie, and the weETH initiative, led by Radiant itself, have both strengthened Radiant’s position within the LST and LRT narratives. Radiant currently ranks 7th among the top holders of both wstETH and weETH, underscoring its growing influence in these liquid staking and liquidity restaking token markets.

Source: wstETH holders - https://arbiscan.io/token/0x5979d7b546e38e414f7e9822514be443a4800529#balances

Source: weETH holders - https://arbiscan.io/token/0x35751007a407ca6feffe80b3cb397736d2cf4dbe#balances

Additionally, USDC incentives have been crucial in mitigating the high utilization rates, helping to stabilize borrow rates. This initiative aligns with the broader goals of Arbitrum, Gauntlet, and Circle to foster greater adoption and resilience of native USDC within the ecosystem.

Source: https://dune.com/queries/3909163/6570636

Radiant continues to rank among the top 3 lending protocols on Arbitrum and remains within the top 10 protocols by unique active wallets over the past 30 days. Once again, Radiant extends its gratitude to the Arbitrum DAO for the ongoing support and for providing the STIP-b grant, which has played a pivotal role in fostering Radiant’s growth and strengthening the ecosystem as a whole.

Source: Lending TVL Rankings - DefiLlama

Source: https://dappradar.com/rankings/protocol/arbitrum?range=30d

Summary of incentives:

  1. weETH (444,307 ARB)
  2. Radpie wstETH vault (95,486 ARB)
  3. GMX v2 gmBTC & gmETH (300,548 ARB)
  4. Radpie USDC vault (290,000 ARB)
  5. Radiant v3 (RIZ): Isolated lending - USDC & ETH vault (8,318ARB)
  6. Radiant v3 (RIZ): Isolated lending (61,434 ARB)
  7. dLP Rush (80,000 ARB)
  8. USDe (75,000 ARB)
  9. Unallocated ARB (70,929 ARB)

TOTAL 1,426,022 ARB

Radiant DAO has prepared a detailed document to track the incentives. https://docs.google.com/spreadsheets/d/1EDNd5G4K9u0z6sf5zmERycYff0Pwj9p9Zm0-ostPcrQ/edit?usp=sharing

Additional Info / Disclosures to Multisig**:** None.

STATS

Average daily TVL: $39.36M

https://defillama.com/protocol/radiant#tvl-charts

Average daily transactions: 6,761

https://dune.com/queries/3888020

Average daily volumes: N/A

Number of unique user addresses: 305,251

https://dune.com/queries/3888010/6535104

Transaction fees: 09/11 - 09/24 $330

https://dune.com/queries/3879009/6523815

Link to Dashboard showing metrics:

https://dune.com/radiant/arbitrum-stip-bridge