Rari Foundation Q1 Transparency Report
Dear Delegates,
This is the Rari Foundation’s Q1 Transparency Report.
Disclaimer: This report, prepared by the RARI Foundation exclusively for informational purposes, and is based on data from various service providers. This report should not be used for making financial, legal, investment, business, tax, or other decisions. The information reflects the date of the report and may change. The Foundation reserves the right to modify or update the report as needed.
Operational and Financial Updates: In Q1, we secured the 2024 operational budget in RARI and converted 446,060 RARI to USDC, yielding $1,033,895. The Rarible Protocol’s smart contracts were transferred to the DAO, and the RARI chain launched on mainnet with creator drops and an incentives campaign. We onboarded the second Delegate launchpad cohort, increased DAO participation to 15 voters per proposal, and hired three consultants. Strategic loans were fully allocated.
Future Initiatives & Q2 Outlook: We plan to kick off a Rarible Protocol grants sprint, initiate treasury diversification, upgrade governance for multichain operations, and onboard DeFi projects to the RARI chain.
Financial data is fund balances is based on a rate of US$4.21 per RARI as of March 31.
Moving forward, we will release these reports within 30 days of the end of each quarter, with a potential extension to 45 days in some circumstances.
Thank you for your attention and ongoing support.