DeFi was meant to bank the unbanked. Uproot corrupt financial systems. It was meant to allow people to opt out from the shackles of their national currencies. Yet here we are spending the last few months debating food, well food tokens. While the returns are impossible to ignore, there are immense, deep-rooted questions surrounding their sustainability and contributions to societal progress.
As part of our mission to thrust the DeFi space towards a more sustainable and equitable model, we are announcing the community-owned governance token: the Rari Governance Token, also referred to as $RGT.
We believe in fair distribution and liquidity mining is the best way to do it. We will be distributing 87.50% of the token to depositors within a short 60 day period. The remaining tokens will be reserved for the team and subject to The Rari Vesting Plan (details shortly!).
Value of the $RGT.
The $RGT will have a few different roles:
- Maintaining Governance: decisions to integrate new protocols, edit pool parameters, edit risk parameters, etc
- Passthrough Governance: if a pool accumulates other tokens like $COMP, $BAL, the token can serve as a passthrough for their governance
- Fee Discounts: the token can be used for fee discounts from the Rari Protocol
$RGT will be burned on every cent made by the protocol (70% of all revenues to be exact), decreasing the total supply of the token as the protocol succeeds. The $RGT will leverage the new Rari Protocol V2 (launching soon) which uses other projects (like Yearn, Aave, mStable, Synthetix, Chainlink) while also focusing on long-term sustainable yields.
Earn the token.
You will be able to participate in liquidity mining (alongside VC’s, other retail partners and many more) with the launch of Rari V2 on October 20th 2020. In order to begin earning $RGT, all you have to do is deposit into one of the pools! Below you will find the projected distribution curve with a speedy 60 day length to ensure maximum distribution.
Nearly half of the token is distributed within the first 15 days!
Get ready.
We are super excited to have you on our side, we hope that you will participate in the liquidity mining program. Stay tuned for more details as our launch date approaches. In the meantime follow us on Twitter and join our Telegram! Rari Governance Token (RGT) is available on Coinbase.
By Rari Capital