Radicle (RAD)

 Basics

• Started in / Announced on:
• Mainnet release:
• Had its first public release (30-11-2020).
• Based in:
• Decentralized Github.
• A peer-to-peer software building stack.

Token

Token allocation

• From their blog (17-2-2021):

"100M Radicle tokens (fixed) have been minted at genesis and will be vested over the course of 4 years.

• 50% Community Treasury (vesting over 4 years)
• 19% Team (4 year vesting from join date, 1 year lock-up from genesis)
• 20% Early Supporters (1 year lock-up*)
• 5% Foundation (1 year lock-up)
• 2% Seeders Program (1 year lock-up*)
• ~4% Liquidity Bootstrapping Pool**

* The lock-up release schedule varies based on jurisdiction. ** currently in proposal mode, if it passes immediately available

Utility

• Governance token (17-2-2021);

"The Radicle token (RAD) is designed as a governance token that enables a number of Ethereum-based features as well as the communal ownership, collective governance, and long-term sustainability of the Radicle network.

In short, the economic model of the Radicle token subjects users to fees when they interact with certain Ethereum-based protocols, unless they are members (token-holders). By buying (or being rewarded) and holding an amount of tokens, users can avoid (or have discounted) fees and participate in the governance of the network. Members maintain governing control over all Ethereum-based smart contracts and most importantly, the Radicle Treasury which holds more than > 50% of the total token supply.

Anyone can become a member by buying and holding an amount of Radicle tokens, in exchange for the following benefits:

1. Discounted or no fees when interacting with Radicle's Ethereum-based protocols.
2. The right to participate in the governance (through voting and proposals) of the Radicle smart contract system."

Technology

• Whitepaper can be found [insert here].
• Code can be viewed [insert here].
• Built on: token contract is on Ethereum. The governance module is a Compound fork.

• Programming language used:

Transaction Details

• Capacity (TPS):
• Latency:

How it works

• From CoinDesk (12-3-2021):

"Radicle does not have any centralized servers and therefore cannot be unilaterally censored. The Radicle protocol participants enable collaborative permissionless code, and the process of editing and merging code requests is decentralized.

• From their docs (5-5-2021):

"The network is powered by a peer-to-peer replication protocol built on Git, called Radicle Link. Radicle Link extends Git with peer-to-peer discovery by disseminating data via a process called gossip. That is, participants in the network share and spread data they are "interested" in by keeping redundant copies locally and sharing, otherwise known as "replicating", their local data with selected peers. By leveraging Git's smart transfer protocol, Radicle Link keeps Git's efficiency when it comes to data replication while offering global decentralized repository storage through the peer-to-peer networking layer. Since all data on the network is stored locally by peers on the network, developers can share and collaborate on Git repositories without relying on intermediaries such as hosted servers."

Governance

DAO

• From their blog (17-2-2021):

"The Radicle governance module is a Compound fork and gives owners the right to participate in the governance of the Radicle smart contract system. Explicitly, this means members can control and parameterize their membership experiences — whether it's by changing fees, upgrading contracts, or introducing new experiences. The Compound governance module was chosen because it's battle tested, audited, and balances executive power with community participation through its liquid delegation scheme.

Similar to Compound, each RAD token is equal to one vote and voting is enabled by delegating voting rights to the address (or addresses) of the token holder's choice:

• The owner’s own wallet, if they would like to vote on their own.
• Another user's wallet, if they would like the other user to vote on their behalf.
• No wallet, if they don't want to vote.

Anybody with 1% of RAD delegated to their address can propose a governance action. Proposals are executable code, not suggestions for a team or foundation to implement. All proposals are subject to a 3-day voting period, and any address with voting power can vote for or against the proposal."

Treasury

• From their blog (17-2-2021):

"Similar to other decentralized protocols, opting-in to some of Radicle’s Ethereum features incurs network fees. These fees accrue in the Radicle Treasury, a smart contract where 50% of the overall token supply exists.

The Treasury is entirely controlled by Radicle token holders via the Radicle DAO. Members will support the long-term sustainability of the network by coordinating the distribution of the Treasury’s supply via community programs and initiatives. These community programs (e.g. developer mining, contributor rewards, grants etc…) will emerge organically through the Radicle community as Radicle members use the Treasury to continuously support the growth and resilience of the network."

Roadmap

• Can be found [Insert link here].

Audits

• Bug bounty program can be found [insert here].

Usage

• From their blog (17-2-2021):

"Over 1000 projects already published to the network and an average growth of 8% week-to-week in its public beta"

Projects that use or built on it

• The Graph; "All future protocol governance will also be hosted on Radicle. The two projects have future plans to collaborate, including “storing subgraph repositories on Radicle and indexing Radicle projects using The Graph." (12-3-2021).

Competition

• Github. How it differs can be read in their docs (5-5-2021):

"Collaborating on Radicle is slightly different than collaborating on centralized code collaboration platforms like GitHub and GitLab.

1. The Radicle stack is open-source from top to bottom. There are no "closed" components. Every component of the Radicle stack is auditable, modifiable, and extendable.

1. Radicle is built entirely on open protocols. There are no "special servers", privileged users or companies in control of your collaboration.

1. Radicle is based on a peer-to-peer architecture instead of a client-server model.

1. Radicle is not global by default. Instead, the social graph of peers and projects you track determines what content you see, interact with, and replicate.

1. Radicle is designed for bazaar-style development. This means that within projects, there isn't a single master branch that contributors merge into. Instead, peers maintain their own views of projects that can be fetched and merged by other peers via patches.
2. Radicle replaces the Org functionality of centralized forges and their hierarchical admin models with decentralized organizations on Ethereum
3. Radicle is a self-sustained and community-owned network — not a corporation. It's governance is organized by a token called RAD that lives on Ethereum."

Team, Funding, Partnerships, etc.

Team

• Full team can be found [here].
• Eleftherios Diakomichalis; co-founder
• Alexis Sellier; co-founder, has been in the Cosmos ecosystem since 2017 while working at All In Bits.

Funding

• From their blog (17-2-2021):

"The Radicle project is supported by a group of amazing early supporters including Placeholder, Galaxy, NFX, Electric, Parafi, Hypersphere, BlueYard, 1kx and more. In addition, we have the support of multiple individuals like Balaji Srinivasan, Naval Ravikant, Fred Ehrsam, Meltem Demirors as well as founders of crypto projects like Aave, The Graph, PolkaDot, Coinmarketcap, and CoinGecko."