Rari Foundation Q2 Transparency Report

#1

Dear Delegates,

Please find the Rari Foundation’s Q2 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 Q2, we managed a Treasury Diversification Strategy approved by the DAO, allocating 15.6M RARI. We increased DAO delegate activity with six on-chain proposals, introduced gasless voting, and expanded the RARI chain ecosystem through key integrations. We executed co-marketing campaigns, co-hosted the ETH Lisbon B2B event with Rarible, and strengthened our team by hiring leads for Ecosystem, Tech, and Treasury, and Marketing.

Future Initiatives & Q2 Outlook: In Q3, we plan to implement the Treasury Diversification Strategy and work with the community to claim unclaimed RARI airdrops and rewards. We’ll reassess our ecosystem growth strategy and KPIs, develop a DeFi-focused campaign for early Q4, and assist in redesigning the RARI Rewards program. We’ll also align with Rarible to deepen our product partnership, continue RARI chain integrations, and design a governance upgrade to implement RARI tokens on Arbitrum One and RARI chain.

Financial data and fund balances are based on a rate of US$2.20 per RARI as of June 31, 2024.
RARI Foundation-Q2 Transparency Report.pdf (644.2 KB)

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#2

Thanks for this Transparency Report.

I had a look at the slides and there is one thing that is not entirely clear to me. In the Q2 Operational and Financial Updates it is stated that the Foundation will carry out a Diversification strategy with 15.6 M RARI from the Treasury. However, in the Asset Division slide, the DAO Treasury only has $6 M accounted for, where do the 15.6 M RARI currently sit in?

As further general feedback, it’d be easier to understand the Foundation’s Managed Funds if you stated the number of tokens (# of USDC, RARI and ARB sitting in the wallets) in addition to their relative value, and the amount of these tokens that are being spent.

#3

Hi there! Thanks for the notes:

  1. On the 15.6M RARI, that number should be 1.56M RARI. We’ve made the correction in the updated report attached to this post.

  2. On how the funds should be reported (# of USDC, RARI, ARB + their relative value) we will make this adjustment for next quarter’s reporting.

Thanks for sharing your feedback!

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