On February 25th, ~3.75% of the Radicle token supply available for interested parties within the Radicle community. It used Balancer a decentralized exchange and leverages a mechanism called Liquidity Bootstrapping.
Over 1800 new token holders participated in the event, claiming over 50% of the RAD tokens put on Balancer at the beginning of the event. This event raised ~$25M in the Radicle Treasury, a smart contract controlled fully and transparently by Radicle token holders.
The proposal is to distribute all or part the remaining ~49% of tokens to the people who contributed to the LBP in proportion to their contribution or simply an equal share of 1/1800.
Early supporters of Radicle were able to become part of the community by buying the Rad token for $1.5 USD. LBP supporters paid between $10 and $30. LBP contributors support the project just as much as the early backers who were allowed to join in for just $1.5 and should be rewarded for it with a share of the unsold tokens. There are already more than enough tokens available in the treasury to be used for other purposes.
Edit: Edited title as requested