RariCapital

Summary: The Rari Capital treasury (0x10dB6Bce3F2AE1589ec91A872213DAE59697967a) at time of writing has $53,148.14. This proposal is to buy $20,000 worth of RGT off Uniswap to accumulate and store RGT in the treasury. The remaining funds should be deployed into the Rari Stable Pool to earn yield. Once RIP-5 goes into effect, the Smart Treasury will be in charge of maintenance. The premise for this proposal is to retain RGT as well as save the funds necessary for upcoming audits.

Background: The recent approval of RIP-5 will build a Smart Treasury, but in the meantime we have idle funds siting in our current treasury and not earning. Since this new treasury not been created yet, we should look into buying RGT off of Uniswap and reserving RGT for further use-cases. This will be more beneficial than storing stablecoins in their current forms. I also propose that we take the remaining funds after the slow $20,000 purchase of RGT and then deploy the assets into the Rari Stable Pool to earn interest. The RGT accumulated would provide future value through the storing and dispensing of RGT to contributors even before the Smart Treasury is ready.

Abstract: I propose that we buy $20,000 worth of RGT evenly over the next 5 days (upon approval of this RIP) to accumulate RGT in our standard treasury before upgrading to a Smart Treasury later this quarter.

There is currently $53,148.14. in the treasury. We can expect a large amount of the funds to be used for upcoming audits, so it is safe to use this specified amount to slowly buy RGT off the market and hold it in a place that can capitalize and grow from the value of this token and its use cases.

Motivation: These investments from the treasury will bring RGT back to its roots for future contributions and also deploys more capital into the Rari protocol to earn yield.