RariCapital

Link to forum post

Author: Samuel In consultation with: Jai, Jack, Sharad, community input received in Sustaining the DAO long-term

Summary

Signalling in favour of:

• 2.5M RGT mint into DAO treasury now
  • intent to use this primarily as allocations for taskforces over next 3 years
• 7.5M RGT linear mint into DAO treasury over 3 years (2.5M RGT / year)
  • intent to use this primarily for liquidity mining over next 3 years
  • can also be used for other things if needed
• Timelock the RGT minting contract for 3 years

Execute now:

• 2.5M RGT mint on-chain

Execution in 1-2 months:

• 7.5M RGT linear mint on-chain
• Timelock RGT minter for 3 years
• Make more precise plans for the 7.5M RGT
• On-chain automation of above plan as much as possible. May or may not includes include gauges, profit-sharing, hack victim compensation and so on. All subject to future discussion and DAO appoval.

Background

Tokenomic structure decided in October 2020 1.25M RGT under 2 year vesting for founding members 8.75M RGT used for aggressive liquidity mining campaign soon after the launch of Rari, has long completed, currently all owned by community

RIP-1 proposed in December 2020 Link to RIP-1 Mints 10M RGT Got voted on but never executed

New discussion started over RIP-1 in August 2021 Sustaining the DAO long-term Received valuable community feedback

This proposal being posted today. Intent to finalise ASAP.

Abstract

Mostly covered in Summary

Motivation

Motivation 1

We wish to aggressively expand and gain more full-time as well as part-time contributors. We have gained a number of contributors now who are being paid on salaried or grant basis from a rapidly diminishing treasury. Transitioning any of them into full-time roles requires vested RGT allocation. This is urgent to avoid losing any of these members.

Motivation 2

We do not wish to do multiple mints as that leads to uncertainty in the minds of RGT investors. We’d rather formalise one clear long-term RGT tokenomic plan. What we can have is multiple allocation votes and decisions over already minted RGT - as new contributors are onboarded and new projects (taskforces) are spawned off the Rari Capital DAO

Motivation 3

We wish to do liquidity mining, however have not finalised the liquidity mining plan today. Once finalised we wish to automate it on-chain as much as possible to avoid uncertainty and human discretion (after it is approved). We also don’t yet have audited code for the long-term inflation or specific liquidity mining plans. This will take 1-2 months.