$RARI
Last updated
Last updated
$RARI is a governance token of the Rarible Protocol ecosystem that was issued in 2020 with a max. supply of 25 million $RARI.
The initial distribution of the token was as follows:
10% airdropped to NFT holders in the cryptocurrency community
60% set aside for rewarding users of the apps built on Rarible Protocol
Remaining 30% was distributed to investors and the Rarible team
When locked, the token can be used for governance in the RARI DAO.
The RARI DAO has funded staking rewards to $RARI holders who stake and delegate to an active delegate (active delegate must have voted at least once in the past 90 days / karma score of 15). The staking reward is dynamic and a function of how much $RARI is staked; the rewards are streamed directly to the staker without the need for claiming. Currently, season 1 of staking is underway. To stake and delegate visit v2 DAO on Tally.
(this model is getting depricated)
The voting protocol for the RARI DAO is based on holders' locked $RARI tokens, also known as veRARI (vote-escrowed RARI). From a technical perspective, veRARI is a non-standard ERC20 token implementation.
veRARI represents non-transferrable voting power a holder receives upon locking their $RARI in a voting-escrow contract for a chosen period of time. Any $RARI token holder can create a lock by specifying the locked amount and lock period.
Below are a few examples:
100
1 month
20 veRARI
100
6 months
37.6 veRARI
100
2 years
100 veRARI
For a deep dive into the tokenomics and history of RARI and veRARI, visit the following documents:
