RFP Idea-47 (DRAFT): Emergency Community Council Election of Radiant Capital
v1.0
Abstract
This proposal advocates for an emergency Community Council Election of Radiant Capital to restore trust, rebuild the protocol, and establish a sustainable future after two devastating hacks in 2024 that led to over $60+ million in losses. With no insurance funds to remediate depositors and unsuccessful attempts to raise bailout funds thus far, Radiant Capital requires a decisive pivot toward community governance to ensure transparency, accountability, and resilience.
Through this proposal, we aim to establish a new decentralized governance structure, rebuild the protocol with security-first principles, and implement a community-led roadmap. An inaugural twelve-month community council will guide this transition, followed by an election process to ensure long-term democratic governance.
Goals
- Restore Confidence: Implement robust security measures to regain depositor trust.
- Ensure Decentralization: Transition governance to a more community-led DAO structure and restructure all decision-making processes around the Community itself.
- Recover Value: Establish a clear plan for depositors’ compensation and future sustainability.
- Foster Transparency: Provide open communication channels for decision-making and accountability.
- Enable Longevity: Develop a robust roadmap for growth, emphasizing security and scalability.
Motivation
The protocol’s integrity and outlook have been severely compromised due to the recent two (2) hacks in 2024 totaling $60m+ and without an insurance mechanism. Although the protocol fully recovered from the first hack ($4.5m in January) and every depositor was made whole, no one has been remediated for the second hack ($50m of deposits on Arbitrum and BNB chain plus millions more from the ongoing stolen assets from user wallets with open unlimited approvals) The current DAO leadership has been unable to secure external funding, leaving depositors vulnerable and threatening the protocol’s survival. A new council represents the best opportunity to:
- Leverage the collective expertise, insight, and resources of the community.
- Create a fully transparent and inclusive governance structure.
- Shift from reactive crisis management to proactive innovation.
Rationale
- Security Priority: Address vulnerabilities exposed by recent hacks by appointing specialized security experts to audit and tightly secure the protocol.
- Decentralized Governance: Empower the community to lead, ensuring decisions align with the collective interests of stakeholders.
- Economic Recovery: Execute DAO-approved remediation plan/s, and compensate depositors and potentially those who lost in-wallet assets due to open unlimited approvals.
- Reputation Management: Demonstrate accountability by involving the community in leadership and decision-making.
- Recapitalization: Rebuild trust, reputation, and performance to attract new users, partners, and potentially new investments.
Implementation Details
Transition Plan
- Establish Inaugural Community Council (Duration: 12 months)
- Composition: 5 members (technical experts, community leaders, DeFi governance specialists).
- Responsibilities:
- Conduct additional audits and implement security upgrades, as necessary.
- Develop compensation strategies for depositors as per RFP-47. Redirect part of the current OpEx allocation (15% of fees) to kick-start the recapitalization effort of the claim contracts to remediate lost funds.
- Members who are also core contributors are responsible for day-to-day operations, development, delivering against the roadmap, and growing the protocol by leveraging all available DAO resources and partnerships.
- Secure the protocol
- Audit overall security: Leverage past and ongoing audits and ensure comprehensive coverage of:
- Smart contracts, front-end code, and other attack vectors including Remote Access Trojan (RAT).
- Improve multi-sig wallet procedures and SOPs.
- Re-implement time-locked transactions with appropriate triggers and notifications.
- Enhance monitoring systems for suspicious activities.
- Verify/Upgrade Smart Contracts: Ensure modular, verifiable code with redundancy checks. Review past audits and perform new audits as necessary.
- Reduce Signing Occurrence: Re-engineer aspects of the stack to reduce the required signing occurrences to a minimum.
-
Tokenomics Adjustment
Introduce a rebalanced token model to incentivize participation and start the recovery process as per the DAO-approved remediation plan.
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Establish and Publish Monthly Financial Reports
- Cashflow Report
- P&L Report
Critical Personnel (Attachment A)
Note: This draft personnel plan is subject to change and is for informational purposes only to help with context, scope, and perspectives for the DAO vote. In other words, the voting for this RFP doesn’t include this scope.
Cost Estimates
Cost estimates will be provided throughout the transition phase as more protocol details, when available resources, and probable vs. possible scenarios are known.
Transition Milestones
- Week 1-4:
- Form inaugural council, and initiate audits (security, financials, legal, contractual obligations, SOPs, staffing needs)
- Fully restore dApp functionality and integrity. Redefine and publish a new Roadmap with the recovery efforts included.
- Month 2-3: Implement critical upgrades, and optimize available resources to the operating plans.
- Month 4-12:
- Develop and deploy new markets and innovative DeFi solutions to outrun slower and larger competitors.
- Prioritize active chains, focusing heavily on ecosystems like Solana, Base, Arbitrum, BSC, and SUI.
- Expand RIZ markets to promote and capitalize on innovative protocols.
- Onboard Memecoins as depositable assets to attract new users and diversify the platform’s offerings.
Community Council Member Requirements:
Full KYC (Know Your Customer) and DOXXing will be required to the Radiant Core team and the law firm representing Radiant.
Inaugural Community Council
Authority (among others):
- Signers for the DAO treasury within the ratified scope via DAO vote.
- Propose revenue allocation within the ratified scope via DAO vote.
- Propose any new economic parameters, as provisioned in the current Radiant DAO bylaws.
- Propose emissions allocations by chain of the RDNT token
- Propose minting additional RDNT tokens within the ratified scope via DAO vote.
- As per Radiant DAO bylaws’ term limits provision, the newly ratified inaugural community council, then the annually ratified community councils thereafter, will replace the original inaugural council and assume all associated authorities and responsibilities.
- All existing token and contractual obligations shall be fully honored.
- Minor Expenses Clause: Day-to-day salaries, contractor payments, operational costs, service providers, web hosting, and any other expenses under $20,000 per month do not require an on-chain DAO vote. Instead, these expenses are aggregated and reported transparently to the community for 2025 and onwards. This is to ensure the DAO is able to operate efficiently and meet business needs
Duration: If ratified, this RFP approves the formation of a 7-member Inaugural community council for a 12-month term.
DAO Wallets and Backup Signers: The inaugural community council, as well as the follow-on annually ratified councils, shall operate with the current signer policy of 4/7. Since we cannot rely on all four signers being available at all times, 3 contingency/backup signers will be designated. Life events, such as lost keys or hardware wallet malfunctions, can happen. These backup signers offer additional protection in these rare cases. However, they do not have the authority to make unilateral decisions or propose transactions
Composition:
-
Daniel a.k.a Novin (DOXXED and KYC-d core contributor): Tokenomics, flywheel & product design, development lead, operational security.
- BA in Social Sciences, MA in Economics.
- Freelance Web Developer for 5 Years (Node.js, Next.js, JavaScript, HTML, CSS).
- Built SaaS Businesses in the following niches: Web Hosting and Infrastructure Provider, Software Provider, Crypto Market Maker Service, Web3 Gaming Coin Aggregator, GameFi Protocol.
- Invested in the crypto market since 2017, Web3 degen with several 50-100Xs (and 0Xs).
-
Hung Vu (DOXXED and KYC-d core contributor): Overall operations, governance, product management, and community management.
- BS Computer Science.
- Radiant DAO Administrator & Community Manager (2yrs).
- CTO, CPO, and COO experience with half a dozen start-up and turnaround engagements.
- Top-10 Tech Leader (Washington Post & TechWay Magazine)
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Isaac Prada (DOXXED and KYC-d core contributor): Project and product management, communications (with the community and other protocols), emissions optimization, tech team hiring.
- Electrical Engineer. PhD in Optimization.
- Former Formula 1 R&D Engineer, tech-startup founder.
- Radiant DAO Director of Project Management and Comms (2yrs).
- CEO, CTO, and COO experience in multiple tech startups.
-
Reserved Member Seat: A representative from Plutus DAO, Magpie DAO/Radpie subDAO, or a Radiant community member - to be elected by a separate DAO vote in 2025.
-
Shak (backup signer): Full-time senior backend developer who has been here since the protocol’s beginning.
- Core developer at BadgerDAO and Balancer
- Senior back-end developer at Radiant Capital.
-
JD (backup signer): Part-time pro bono full-stack developer who has been here since the protocol’s beginning.
- Led Coin Bureau Recruitment tech department to win the SyncTheCity Hackathon
-
Daigaro (backup signer): Part-time pro bono lead developer (back end) who has been here since.
- Co-founded FujiFinance
- Contributing to the Xocolatl MXN stablecoin
- Former aerospace engineer
-
Eliana (temporary backup signer): Eliana’s role enables the council’s ability to operate as a 4/7 multisig for the DAO treasury. This role will be eliminated when the remaining council member is ratified by the separate DAO vote in 2025.
- Worked in various crypto communities since 2021
- Certified accountant (CPA) at one of the Big Four audit firms
- Radiant Capital Social Media Manager for the past 1.5 years.
- Supporting Radiant DAO with accounting and administrative tasks.
Long-Term Governance
-
Community Council Elections:
- Terms: Held every 12 months.
- Composition: 7 members (target profiles: 2 technical experts, 1 financial specialist, 2 community representatives, 2 strategic advisors). 4/7 multi-sig.
- Authority: Same as with the inaugural community council.
- Member requirements:
- Membership in the Radiant Discord for at least 3-6 months.
- Holding the Starfleet role prior to December 1.
- Availability to work full-time or close to full-time.
- At least $10,000 in funds across exploited contracts (BNB/Arbitrum) OR holding at least $10,000 worth of RDNT.
- Strong written English communication skills, and ability and willingness to openly debate concepts, ideas, and implementation details in a merit-based environment.
- Proficiency in blockchain technology, such as Hardware Wallet use, and proper SecOps.
- Bonus/Optional: A background in development, finance, or economics.
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Election Process:
- Transparent on-chain voting on Snapshot.
- Term limits of 3 consecutive years and 5 accumulative years to encourage diversity. Inaugural term not counted toward term limit.
- Governance Framework:
- Proposals require majority approval.
- Implementation is led by appointed working groups.
Existing Investors and Core Contributors’ Considerations
- Core Contributors:
- Current core contributors, Aaron, George, Roger, and Liam will maintain advisory roles to ensure operational continuity and the growth of the protocol.
- Investors:
- Engage through token-weighted governance.
- Explore structured token buybacks, equity swaps, or supply remediation funds to align interests.
Conclusion
This proposal offers a clear pathway for Radiant Capital to recover from its current crisis. By adopting a community-led governance model and prioritizing security and transparency, Radiant Capital can regain trust, restore value, chart a sustainable future, and drive further growth. This emergency inaugural community council election represents a commitment to collective resilience and innovation, ensuring the protocol’s long-term success.
Attachment A
(This draft is subject to change and isn’t being voted on in this proposal)
Critical Personnel
Key Synergies
For the DAO to function seamlessly:
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The Protocol Architect, Security Specialist, and Treasury Manager must work closely to ensure financial sustainability and protocol security.
-
The Governance Lead, Community Manager, and Marketing Specialist will collaborate to engage and mobilize the community.
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The Legal Advisor and Partnership Lead should ensure compliance while unlocking growth opportunities.
This cross-functional team, empowered by community oversight, forms the backbone of a resilient and transparent DAO.
| Job Title | Responsibilities | Desired Background | Name |
| Governance Lead
(Full-time Role) |
Oversee DAO operations, including proposal creation, voting, and implementation.
Coordinate with working groups to ensure alignment with the DAO’s goals. Facilitate transparent communication between the community and operational teams. |
Experience in decentralized governance (e.g., participation in major DAOs like MakerDAO or Aave).
Strong understanding of tokenomics and voting mechanisms (e.g., quadratic voting, snapshot strategies). Proven leadership in coordinating large, decentralized teams. |
Hung Vu
DAO Admin, Community Manager Discourse & snapshot maintenance & support (Liam & JD, very part-time) |
| Product & UX Management
(Full-time Role) |
Collaborate with the community, developers, and governance bodies to define and prioritize product features.
Conduct user research and gather feedback to refine product workflows. Design and oversee user experience (UX) improvements to ensure accessibility and usability. Develop and maintain product roadmaps, aligning with the DAO's long-term vision. Coordinate with marketing and community teams to communicate updates effectively. |
Proven track record in product management, preferably in Web3, DeFi, or fintech environments.
Experience designing and improving UX for decentralized applications (dApps). Strong understanding of DeFi protocols, smart contracts, and blockchain ecosystems. Proficiency with design tools (e.g., Figma, Sketch) and analytics tools for user behavior tracking. Excellent communication and organizational skills to align diverse stakeholders. User-centric mindset with a passion for creating intuitive products. Ability to balance community input with technical feasibility and market trends. |
Hung Vu
Built and managed product & UX teams across half a dozen sectors in mar/ad-tech, corporate learning, enterprise video, talent management, and K-12 learning. 2 years as a community manager and moderator supporting Radiant v1, v2, and v3 rollout. |
| Protocol Architect / Overall Development Lead
(Full-time Role) |
Conceptualizing the underlying structure, rules, and mechanisms that govern the protocol. Focus on ensuring that the protocol operates efficiently, securely, and meets the goals of the roadmap.
Oversee development and ensure the tokenomics integrity of the protocol by aligning economic incentives, maintaining the balance between supply and demand, and preventing misuse or exploitation of the token ecosystem. Develop tools, design user interfaces, and deploy smart contracts to facilitate the recovery process. |
Expertise in Infrastructure Management, Linux systems, DevOps, decentralized finance (DeFi) protocol design, and full-stack development using Next.js, Node.js, and JavaScript.
Additionally, bring extensive hands-on experience in designing and implementing DeFi protocols, along with a strong background in Security Operations (SecOps), focusing on safeguarding decentralized platforms and ensuring robust, scalable infrastructure. |
Daniel (Novin)
Infrastructure Management, Linux, DevOps, DeFi Protocol Design, Tokenomics, Next.js, Node.js, and JavaScript. |
| Post-hack Community Examiner
(Full-time Role) |
Assess the impact of the hack, evaluate the protocol’s operations, and ensure transparency in handling the remediation plan.
Restore trust in the protocol by delivering comprehensive, unbiased reports to hack victims and all impacted stakeholders. |
Expertise in blockchain technology, cybersecurity, and financial forensics to thoroughly investigate the hack, and evaluate the protocol’s security measures.
The examiner must possess strong communication skills to transparently report findings to stakeholders and recommend improvements. |
Daniel (Novin) |
| Project Management | Ensure completion of key strategic priorities within the timeline & budget.
Run day-to-day PM of the development team. |
PM experience with development teams, ideally in SW development in general or DeFi in particular.
Agile methodologies and PM tools (GH, Linear, etc.) |
Isaac Prada
(Part-time) |
| Emissions Optimization | Optimization of RDNT emission distribution, analyzing the fee generation of each market, and optimizing IR curve parameters to maximize net fee generation. | Optimization methodologies.
Management of risk parameters. Optimization analysis of each market fee generation/emission performance. |
Isaac Prada
(Part-time) |
| Communications | Key communications with the community, other protocols, and the broader crypto community (AMAs and similar online events to promote Radiant). | Outstanding and proven communication skills in English (nice to have in other languages, too).
Ability to explain complex crypto concepts to non-crypto natives.
Ability to go into in-depth explanations of advanced DeFi strategies. |
Isaac Prada
(Part-time) |
| Tech Hiring | Running the hiring processes for the tech team (CTO, new devs). | HR experience in the tech domain and in crypto/DeFi. A strong network of recruiters and top devs. Expertise in HR tools and lead gen techniques (LinkedIn, GH, Discord, etc.) | Isaac Prada
(Part-time) |
| Solidity Lead (EVM) | Design, code, and upgrade EVM smart contracts and infrastructure.
Address scalability and security challenges. Manage relationships with auditors and technical partners. |
Expertise in Solidity, Ethereum Virtual Machine (EVM), blockchains SDKs/APIs, and Node.js & JavaScript.
Proven track record of contributions to open-source blockchain projects. |
Diagaro (Part-time), Shakotan(Full-time) |
| Rust Developer (Solana)
(Full-time Role) |
Design, code, and upgrade Rust smart contracts and infrastructure.
Address scalability and security challenges. Manage relationships with auditors and technical partners. |
Expertise in Rust, C, C++, Anchor, blockchains SDKs/APIs, and Node.js & JavaScript.
Proven track record of contributions to open-source blockchain projects. |
To be Hired |
| UI
(Part-time Role) |
Creates functional, visually appealing, and user-friendly interfaces that enhance user interactions. | Expertise in HTML, CSS, the latest CSS standards, and libraries. | JD (Part-time) /To be Hired (Full-time) |
| Blockchain Security Oversight Specialist
(Part-time Role) |
Conduct continuous security audits of the protocol.
Implement and monitor risk mitigation strategies. Respond to and investigate potential vulnerabilities or incidents. |
Experience with blockchain security audits (e.g., work with firms like CertiK or Peck Shield).
Deep knowledge of attack vectors such as re-entrancy, flash loans, oracle manipulation, and RATs. Certifications in cybersecurity (e.g., CISSP, CEH) or equivalent experience. |
To be Hired |
| Treasury Accountant
(Part-time Role) |
Accounting the DAO treasury, tracking and managing funds to ensure transparency,
Maintain and publish cashflow and P&L reports internally and to the community (monthly for the first 3 months, then quarterly after that) |
Background in financial management, DeFi protocols, or traditional investment banking.
Proficiency in analyzing tokenomics and on-chain financial flows. Experience with DAO treasury tools like Gnosis Safe and OpenZeppelin Defender. |
Eliana
CPA with blockchain experience including Dune analytics |
| Community Admin
(Part-time Role) |
Foster engagement and communication within the community.
Manage social media, forums, announcements, and community calls. |
Experience in community building for DeFi or blockchain projects.
Strong written and verbal communication skills. Familiarity with platforms like Discord, Telegram, and governance forums. |
Eliana |
| Legal and Compliance Advisor
(Part-time Role) |
Ensure the DAO complies with relevant laws and regulations.
Navigate issues related to securities, KYC/AML, and taxation. Draft legal documentation and contracts for partnerships. |
Legal expertise in blockchain and decentralized governance.
Understanding global regulations affecting DeFi protocols and experience dealing with Cayman Islands foundations. Proven experience advising DAOs or blockchain startups. |
Supernova |
| Marketing and Growth Specialist
(Part-time Role) |
Drive adoption and growth through strategic marketing initiatives.
Develop campaigns to restore trust and attract new users. Collaborate with the community to promote protocol updates. |
Experience in DeFi marketing and brand management.
Knowledge of performance metrics (e.g., TVL, user retention). Creativity and ability to craft compelling narratives about the protocol. |
To be Hired |
| Data Analyst
(Part-time Role) |
Monitor and report on key performance indicators (e.g., TVL, user activity, governance participation).
Analyze financial and operational data to guide decision-making. Present insights to the DAO and community. |
Proficiency in blockchain analytics tools (e.g., Dune Analytics, Nansen).
Strong quantitative skills and familiarity with on-chain data. Experience in DeFi market analysis. |
Shogun |
| Partnerships and Business Development Lead
(Full-time Role) |
Build relationships with other DeFi protocols, liquidity providers, and institutional partners.
Explore cross-chain collaborations and integrations. Secure funding or joint ventures to enhance protocol functionality |
Strong network within the DeFi and blockchain space.
Experience negotiating partnerships and integrations. Understanding of cross-chain ecosystems and interoperability. |
To be Hired |
| Education and Onboarding Specialist
(Part-time Role) |
Develop educational resources to onboard new users.
Host workshops and webinars on using the protocol and participating in governance. Create content to demystify complex DeFi concepts. |
Expertise in simplifying technical concepts for non-technical audiences.
Experience in creating tutorials, documentation, or user guides. Passion for educating and empowering DeFi users. |
To be Hired |
| Election Coordinator (Part-time Role) | Oversee the election process for community council members.
Manage candidate onboarding and voter participation. Ensure the integrity and transparency of the voting mechanism. |
Familiarity with DAO election tools (e.g., Snapshot, Aragon).
Strong organizational and project management skills. Experience running elections or community voting systems. |
Hung Vu
DAO Admin & Community Manager |
| Moderators | Manage community platforms, enforce guidelines, and facilitate discussions. | Experience in online community management, conflict resolution, and communication; skilled with tools like Discord and Telegram bots. | Konstantin (Lead), Nerd
Current moderators |
| Advisors | Provide strategic guidance and expertise in governance, operations, and DeFi trends. | Leadership in DAOs, regulatory familiarity, critical thinking; strong network, and mentorship skills. | Aaron, George, Liam, Roger |
This list of critical personnel is not exhaustive, as additional individuals may contribute to the protocol in various capacities.