🚀 Radiant Capital Updates on October Attack Recovery Efforts
#RadiantCapital #OctoberAttack #RecoveryEfforts #Fundraising #RemediationPlan #CommunityProposal #DAOVoting #CouncilElections #GovernanceProcess #MultiChainLending
According to Odaily, Radiant Capital, a multi-chain lending protocol, has provided an update on the October attack that resulted in approximately $58 million in losses. The platform shared the following developments on X:
1. Recovery and Fundraising: Efforts to recover the lost funds and raise rescue capital are ongoing, but there have been no significant advancements or positive updates so far.
2. Remediation Plan: A comprehensive community proposal is set to be resubmitted to the DAO for voting. After undergoing council review and mediation, the process is expected to proceed more smoothly. A separate proposal addressing unlimited authorization losses is anticipated to be drafted in the first quarter. This remains a complex and sensitive issue requiring careful handling.
3. Council Elections: Another proposal is in the community collaboration phase and will soon enter the governance process to elect a new community council. This will replace the inaugural council as per the DAO's charter. Subsequent council elections will be held annually.#RadiantCapital #OctoberAttack #RecoveryEfforts #Fundraising #RemediationPlan #CommunityProposal #DAOVoting #CouncilElections #GovernanceProcess #MultiChainLending
🚀 Aptos Foundation Proposes Changes to Staking Rewards and Gas Fees
#AptosFoundation #StakingRewards #GasFees #Tokenomics #APR #APTtokens #GovernanceProcess #APT #HardCap
The Aptos Foundation has announced a proposed update to its tokenomics, aiming to adjust staking rewards and gas fees. According to NS3.AI, the foundation suggests reducing the annual percentage rate (APR) for staking rewards from 5.19% to 2.6% through a governance process. Additionally, it plans to increase gas fees by tenfold, with these fees to be paid in APT tokens, which will be completely burned. Furthermore, the foundation intends to implement a protocol-level hard cap of 2.1 billion APT tokens.#AptosFoundation #StakingRewards #GasFees #Tokenomics #APR #APTtokens #GovernanceProcess #APT #HardCap