1/ Rarible is the 1st NFT marketplace to adopt veTokenomics.
It comes at a crucial point.
Daily trading volume has dropped to just $425 USD and only 146 traded in the past 24 hours.
Will $veRari help to reverse the trend?
It comes at a crucial point.
Daily trading volume has dropped to just $425 USD and only 146 traded in the past 24 hours.
Will $veRari help to reverse the trend?
3/ Last year Rarible generated $99.4M in trading volume, but in the past 30 days only $277k.
Number of users has dropped significantly, together with new NFT mints.
To be fair, the bear market has been tough for OpenSea and LooksRare as well.
Number of users has dropped significantly, together with new NFT mints.
To be fair, the bear market has been tough for OpenSea and LooksRare as well.
4/ To differentiate itself from competitors Rarible supports Tezos, Flow and just launched on Immutable X.
Yet it's surprising that Rarible switched to veTokenomics for its DAO.
veToken model has been gaining popularity, but mainly among #DeFi protocols.
Why? π
Yet it's surprising that Rarible switched to veTokenomics for its DAO.
veToken model has been gaining popularity, but mainly among #DeFi protocols.
Why? π
5/ The motivation behind veRARI is:
β’ Greater voting power for long-term lockers
β’ Direct on-chain voting and proposal execution
So, the goal is to exchange short-term liquidity for more privileges within the RARI DAO.
β’ Greater voting power for long-term lockers
β’ Direct on-chain voting and proposal execution
So, the goal is to exchange short-term liquidity for more privileges within the RARI DAO.
6/ As most of veToken projects, Rari made some adjustments to the original Curve's veCRV model:
β’ They introduced 'Cliff' which serves as a period of βhard-lockingβ during which no locked $RARI is released.
β’ Max lock period is 2 years.
β’ They introduced 'Cliff' which serves as a period of βhard-lockingβ during which no locked $RARI is released.
β’ Max lock period is 2 years.
7/ Besides giving greater voting power to the long term holders, other benefits include:
β’ 0% seller fees
β’ Prime badge on Rarible
β’ Private Discord access
But I guess we will see one more perk added soon...
β’ 0% seller fees
β’ Prime badge on Rarible
β’ Private Discord access
But I guess we will see one more perk added soon...
8/ That extra perk should be higher liquidity mining rewards.
The DAO voted to incentivize NFT listing and buying with 420,000 $RARI ($900k USD) over the period of 1 month.
Maybe veRARI holders should receive higher rewards?
In any case, rewards are juicy.
The DAO voted to incentivize NFT listing and buying with 420,000 $RARI ($900k USD) over the period of 1 month.
Maybe veRARI holders should receive higher rewards?
In any case, rewards are juicy.
9/ What's more (a bit of alpha here), RARI DAO passed a vote on retroactive $RARI airdrop.
Eligible users would receive 100 $RARI ($215 USD) each, which would include them into Prime membership program.
Airdrop is aimed at supporting loyal community members.
@OlimpioCrypto π
Eligible users would receive 100 $RARI ($215 USD) each, which would include them into Prime membership program.
Airdrop is aimed at supporting loyal community members.
@OlimpioCrypto π
10/ So despite falling trading volume and decline in users, Rarible is trying to reverse the trend.
Launch of NFT aggregator, veRARI, Liquidity mining, airdrops and more to come.
Will it be enough?
Fingers crossed π€
Launch of NFT aggregator, veRARI, Liquidity mining, airdrops and more to come.
Will it be enough?
Fingers crossed π€
11/ Do you think switching to veTokenomics was a good choice?
Follow me @DefiIgnas for more.
Like/Retweet the first tweet below if you can:
Follow me @DefiIgnas for more.
Like/Retweet the first tweet below if you can:
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