RARI is the governance token of the Rarible Protocol and associated DAO. Over the last nearly 12 months, a really strong community has formed (see discord https://discord.gg/us2qCtrY!), and progress is increasing by the week. The goal of this community is to increase the adoption of the Rarible Protocol, as well as return value to RARI holders in other ways such as distributing grants to other projects, and building NFT projects in-house.
However, there is currently very little community representation of this community at a governance level. Almost every person in the DAO who has been paid in RARI has had to convert their RARI to fiat eventually (people need to eat!).
This proposal is asking for 35K RARI in order to give our community a voice at the governance level. 100% of these tokens will be kept in a ⅗ Multisig, controlled by the following community members:
- Eric Arsenault
- Ezra Weller
- Sarmad Ahmad
- Maria Sanchez
- Brandon Valosek
Over time, we are expecting that key contributors to the community will own a larger share of governance tokens in order to align incentives and ensure we retain talent. Once this program is created and approved by the DAO, 100% of these funds will be returned to the parent Rarible DAO. These funds are an interim solution to give our community a voice, and allow us to move more quickly.
The community will use our own internal governance process to determine if we should support proposals that are proposed to Rarible DAO, and execute according to the wishes of this community (see diagram below):