This is a proposal to re-instate the distribution of $RARI rewards and re-allocate them as they
were prior to their cessation on January 16 th 2022.
The previous proposal (#QmYsqN5) of December 10 th 2021 to cease the distribution of $RARI rewards was passed in an extremely clandestine manner, with very few votes from the Rarible DAO community. We as artists, collectors, and investors are concerned that there was no
proper representation or participation in the voting system, and insist upon a new vote. This vote is to be published on social media, Discord and other platforms to increase public awareness to all interested DAO participants, not just developers.
The Rarible DAO is made up of artists, collectors and investors who have chosen Rarible as their preferred platform due to its community and $RARI voting system. To terminate the $RARI distribution will alienate and disenfranchise vital members of this community.
The arbitrary arguments for stopping the $RARI rewards system outlined in the proposal make little or no sense and are without substance. The first argument relating to the rewards mechanism being no longer an effective tool to encourage investment as it has been seen to encourage ‘wash trading’ is not to be denied to a certain extent, though the dissemination of this data has never been forthcoming in support of the theory.
There are many viable solutions today which were not available to the Rarible platform when it was first launched. There are solutions readily available today to circumvent this problem, and to make Rarible a stronger and more attractive platform than previously; solutions which many NFT trading sites are now adopting as part of a new breed of successful trading platforms.
There are already serious talks within OpenSea to introduce reward schemes which are seen as a very positive initiative for the whole NFT community, following others who have already adopted similar reward schemes that are now flourishing. These platforms not only have reward schemes but also easy to use in-house interfaces that allow token holders to stake and LP farm their tokens in order to increase
The second argument for stopping $RARI rewards stated that token holders are instantly cashing in their tokens after the airdrop, a salient point, however with these highly attractive staking incentives, the token is kept within the community, which in turn increases the token value and strength and further provides an attractive and stable token to outside investors.
There is no doubt it was short sighted to have stopped $RARI rewards without considering these simple and effective solutions, benefiting the entire Rarible community. These propositions provide for the user not one, but three ways of enhancing their rewards; trading
rewards, staking rewards and yield farming rewards.
I therefore propose we take a new vote, not only for the survival, but for the enduring success these changes can bring about for the Rarible platform.
Please support these new propositions by voting in favour of re-instating $RARI rewards. We propose a re-instatement in March to give the developers time to change the code back to the way it was. Should you have anything further to add, get in touch as we are happy to openly communicate and suggest intelligent changes where necessary for the benefit of all.