RRC [XX] - Creating/Boosting the Meme Ecosystem on Rari Chain

[forexus]

@Sidney

We will not be accepting the funds for the upcoming milestones, which should remain in the DAO treasury

We have sent back the 5k RARI to the Treasury wallet.
https://etherscan.io/tx/0x69f4f169f0e83155eeab85747b286e3a6bcfddb16d1da77059b7d2889e0948d0

[coffee-crusher]

Is the return of the 5K RARI to the DAO treasury, a return of the Phase 1 funding, and therefore all funds have been returned to the DAO treasury from this proposal?

[forexus]

They are the remaining 5k RARI that would have been awarded if the milestones were met. As Sidney mentioned they’ll pauze development and won’t be asking anymore funds from the DAO.

The proposal asked for 10k RARI total, where 5k RARI was transfered upon proposal passing, and 2x 2.5k RARI for each milestone met.

[forexus]

@Sidney

What We’ve Accomplished

Despite significant obstacles, we’ve worked diligently to deliver on our promises:

1. Platform Development:

• Implemented significant back-end optimizations to improve platform speed and performance
• Maintained server infrastructure with monthly costs to keep the platform operational

2. Community Efforts:

• Hosted voice chat sessions to attract users from our other projects, with virtually no interest
• Launched Twitter giveaway campaigns (create your own coin and win $100), which received no participation despite extending the deadline by a month
• Created a side project focused solely on NFTs to attract a different audience, with no success
• Attempted to make our other platform (Collaboard) multi-chain to funnel users to Rari and Rumble, again with no success

3. Additional Initiatives:

• Developed Rari Name Service (RNS), an ENS fork enabling users to send tokens to named addresses, which initially received positive feedback from the foundation but was met with silence after multiple follow-up attempts
• Created a custom RNG script to support NFT raffles, as Rari Chain lacks on-chain RNG functionality, though we had serious concerns about security

Loved everything you have build on the Rari Chain, i’ve tried it all out and had fun doing so.

@Sidney

Fundamental Challenges

After three months of active development and community engagement, we’ve identified several critical issues that make continued development untenable:

1. Non-existent User Base: Despite multiple promotional efforts across different channels, we’ve seen virtually no user engagement. Our giveaways and competitions received zero participation, indicating a fundamental lack of users on the chain.
2. Inconsistent Standards: While we were repeatedly asked about audits for our contracts, we observed that other promoted projects on the chain (like Buzz Fun built on Abstract) also operate without audits or verified contracts, creating an uneven playing field.
3. Communication Breakdown: Communication with the Rari team has been extremely difficult and one-sided. Despite being available 24/7 on Discord and Twitter, our messages often go unanswered. Interactions with the DeFi project liaison have been particularly frustrating, with responses that felt dismissive rather than collaborative, creating an environment that feels like gatekeeping rather than ecosystem building.
4. Lack of Clear Direction: The foundation appears to have no clear strategy for DeFi growth or ecosystem development. Initial enthusiasm for our initiatives quickly faded without explanation, leaving us to navigate blindly without support.
5. Technical Limitations: The absence of critical infrastructure like on-chain RNG has forced us to create workarounds that we don’t consider secure enough for handling real financial transactions.

Thanks a lot for the great efforts you put in Sidney. Sadly it didn’t turn out as planned and I understand most of the mentioned points. However, Rome wasn’t build in a day, success in web 3 isn’t also build in a day.

@Sidney

Our Decision

After careful consideration and three months of active development, we’ve made the difficult decision to pause further active development on Rumble Exchange. This means:

• The platform will remain online and fully functional
• All created, bought, or sold tokens will continue to be accessible
• Basic maintenance will be performed as needed
• We will not be accepting the funds for the upcoming milestones, which should remain in the DAO treasury

Happy to hear that Rumble is here to stay!

[coffee-crusher]

Thanks for the clarification, appreciate you responding.

[Jose_StableLab]

Hi Sidney, thanks for your honest update. We understand the difficult cirscumstances that surrounded the development of this platform and we believe your efforts were well intended. Rari Chain is currently undergoing a strategic transition which is not ideal for the thriving of a platform very dependent on liquidity like Rumble.exchange.

We are happy to see milestones funds were returned and wish you the best of successes in your future endeavours. Hopefully in the future we will be able to host a platform of this kind.

[bitblondy]

Thanks for the update @Sidney, including a detailed breakdown and suggestions for improvements. I’m sorry to hear the platform didn’t receive traction despite your efforts. Pausing the development and returning the milestone rewards is a fair choice in this case. Happy to hear, the platform will remain available.

More generally, you probably summarized pretty well, why RARI chain is not attractive for builders, at least compared to bigger ecosystems. Looking at the strategic efforts of the ecosystem / foundation, it doesn’t seem RARI chain has priority any more. Thanks for sharing your experiences, though.