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A Recap of Post-Hack Progress 🧵 Here’s an overview of key activities and proposals following the October 2024 exploit that impacted Radiant’s core market deposits on Arbitrum and BNB Chain. Recovery efforts and compensation plans remain in progress. This thread serves as a centralized resource for users to stay updated on the latest developments and proposals.

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🌟 Happy New Year! 🥂 Radiant is deeply grateful for the unwavering support and trust shown by the community during the most challenging of times. As the new year begins, this moment is embraced as an opportunity to rebuild, grow, and look toward the future with renewed strength, resilience, and a shared commitment to overcoming obstacles, with the community leading the way.

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An update on current goals and activities: 1️⃣ Lost funds recovery and soliciting bailout funds: Efforts are ongoing, but no significant progress or positive updates have been achieved yet. 2️⃣ Remediation plans: A consolidated community proposal is set to make a second journey to a DAO vote. Following a council review and reconciliation phase, a smoother process is anticipated. Community members are encouraged to participate in a survey to determine which of the three recommended options should be implemented: 🔗 https://t.co/voe77X94lu The current focus is on lost deposits and recapitalizing the protocol to establish a viable foundation, allowing modest reimbursements as a starting point for a long-term recovery. Efforts to recover lost funds or secure bailout resources would further enhance this process. A comprehensive plan for recapitalization, revitalization, and remediation could potentially attract partnerships, new capital, and bailout funds. A separate proposal addressing unlimited approval losses is expected to be drafted in Q1. This remains a complex and sensitive matter to navigate. 3️⃣ Council election: Another proposal is in the community collaboration stage and will soon begin the governance process to elect a new community council, replacing the inaugural one as outlined in the DAO by-laws. This council election is scheduled to occur annually thereafter. 💭

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Radiant Capital Community Report 2 - Economic Ideas has been posted in the feedback section of the forum It is a comprehensive proposal to ensure Radiant’s stability, recovery, and long-term growth. This plan introduces a thoughtfully and strategically designed 10% RDNT mint to restore liquidity, compensate hack victims, and reignite the protocol’s growth flywheel - with only 16.6% (1.6% total supply) sell pressure over 1-2 years for OpEx. With transparency and sustainability at its core, the proposal prioritizes stability for the protocol, innovative financial mechanisms for recovery, and robust strategies to drive TVL growth. This is a pivotal moment for Radiant, and your voice matters. Help the DAO refine this logical and strategic path forward. Together, Radiant’s future can be secured! 🌟 💬 Review and share your feedback here:

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Feedback 101: Deploying Merged Claim Contracts for Radiant Depositor Reimbursement is up on the forum. This proposed remediation plan represents a complete rewrite of Novin 's feedback 47a and RFP Idea 47a after collaboration with the council. This version introduces enough new ideas that warrant another full collaboration cycle with the community as feedback for a few more weeks over this holiday period to afford ample time for the community to inform the DAO on which of the proposed options should be implemented. Note: This proposal focuses only on remediation of the core market losses. A separate follow-on proposal will address the unlimited approval losses. 🔗

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