Balancer has been hitting the Arbitrum network hard with additional incentives from the Arbitrum Foundation STIP they were awarded. A pool joint initiative between Radiant, Plutus, and Balancer has come into the ecosystem which offers a liquid wrapper for permalocked veRDNT and the liquid pool token → plsRDNT/(80RDNT/20WETH). The permalocked version is plsRDNT and earns organic autocompounding yield due to Radiant’s market, which as a side effect locks RDNT/WETH liquidity permanently on Balancer. The Balancer DAO will begin sending ARB STIP incentives due to it being a core pool in coming weeks, and Radiant wishes to also send ARB incentives via their STIP. Balancer gauges only allow one address to send the same token at a time, and bootstrapping the Aura staking market makes sense to reduce friction for new users to park their liquidity on Aura long term. The goal of this proposal is to allow Radiant to send their STIP incentives directly to the staking contract on Aura to speed up adoption, and streamline all the incentive flows for this trading pair.
Plutus describes itself as the governance blackhole on Arbitrum and pursues the permalocking of various governance tokens throughout the Arbitrum ecosystem. Their goal is to provide users with highly competitive rewards by leveraging the nature of permalocked assets, while having liquid versions to exit positions easily accessible on various dexes.
Radiant Capital’s purpose is to simplify lending and borrowing for cross chain operations. As documented here.
Radiant Capital will be able to stream ARB directly on the Aura stash for the plsRDNT/(RDNT-WETH) gauge on the Arbitrum network.
Radiants STIP Multisig address (sender): 0x712e3396F039243aBda1858B5b85cdCDD0878976
ARB token: 0x912ce59144191c1204e64559fe8253a0e49e6548
Plutus will send esPLS, a staked non-transferrable version of the PLS token to same Aura stash on the Arbitrum network. The necessary Aura addresses to be whitelisted for esPLS to be streamed to individual stakers will be permissioned by Plutus.
Plutus (sender): 0xBbE98D590d7eB99F4a236587f2441826396053d3
The Aura DAO Multisig will execute
setExtraReward for the pool to create a
VirtualRewardPool in order for rewards to be queud for the next possible week.
The intention is for this proposal to go to vote in the Snapshot round commencing on Thursday, December 7. Please review and provide any questions or comments through Thursday, December 7. We appreciate and encourage an open discussion.
Given this timeline, the discussion period for this proposal is shorter than usual. We aim to finalize the addition of rewards to the plsRDNT/[RDNT/WETH] pool asap to participate in the next round of incentives. Therefore, we kindly request that the discussion period and the Snapshot voting occur before this date. Your prompt participation is highly valued.
The vote will follow a single-choice format: “For”, “Against,” or abstain from voting.