Rari Foundation

Abstract

This proposal outlines the plan to reclaim unclaimed tokens from the legacy wallet and diversify the recovered funds for the growth and sustainability of the RARI ecosystem. A portion of the funds will be repurposed to fuel ecosystem growth activities, while a reserve will be maintained for future claims.

Rationale

The purpose of this proposal is to optimize the DAO’s financial resources and deploy a new ecosystem growth fund with focus on the RARI chain, in contrast to the fund already deployed for the Rarible Protocol (see RRC12). By reclaiming tokens and reallocating them to ecosystem fund activities, we aim to enhance the sustainability and growth of the DAO, through expansion of the RARI chain ecosystem across DeFi, Infrastructure, GameFi, SocialFi and other important sectors. Finally, the repurposing of funds will increase available capital to invest in high-impact strategic partnerships, such as grants to researchers, developers, strategic partners and others with the aim of increasing activity primarily on the RARI chain and elevating visibility of the utility and governance of RARI token.

Motivation

The motivation behind this proposal aligns with the core values of the RARI DAO community, emphasizing transparency, democratic decision-making, and prudent financial stewardship. Repurposing unclaimed tokens and diversifying the recovered funds into strategic investments ensures a robust foundation for future growth, while also safeguarding against market volatility and unforeseen circumstances. The RARI Foundation shall administer and manage these funds as part of the RARI Ecosystem Growth Fund.

Key Terms

• Legacy Wallet: Refers to the wallet containing unclaimed tokens from past airdrops.
  • Address: 0xFDfF6b56CcE39482032b27140252FF4F16432785
• Token Reclamation: The process of reclaiming unclaimed tokens from the legacy wallet.
• Ecosystem Growth Fund: Fund dedicated to supporting strategic partnerships, loans, grants, and other initiatives aimed at fostering sustainable development within the RARI ecosystem.

Specifications

Legacy wallet (0xFDfF6b56CcE39482032b27140252FF4F16432785) contains over 1.1M unclaimed RARI tokens in airdrops and early rewards. The funds are unused but can be repurposed, pending a public announcement and a grace period for the public to claim their tokens.

The remaining funds in the legacy wallet shall then be repurposed to help drive RARI ecosystem growth. It’s prudent to keep a reserve for potential future claims and distribute remainder across grants, loans, and strategic partnerships .

Suggested distribution:

• 25% reserved for potenital future claim
• 75% reminder distributed across:
  • Grants (20%)
  • Loans (40%)
  • Strategic Partnerships(15%)

The RARI Foundation will be asked to manage the Ecosystem Growth Fund, and to publish quarterly reports. After a period of 12 months, the RARI DAO may request unallocated funds to be returned to the DAO’s main treasury.

Steps to Implement

1. Upon approval of this proposal, recipients of RARI airdrop or early rewards programs who haven’t claimed their $RARI will have a 30 day grace period to claim their tokens. The claim period will start on the day of the execution. Notice of this claim window will be announced on RARI’s discord, X, Farcaster, newsletter, and website. Claiming can be done on rari.foundation/claim
2. After the grace period, the full amount of the recovered Legacy treasury will be sent to the RARI Foundation’s main wallet, eth:0x2a83d2891Ef3df6967E3C2e9b69cCc7aD029736B. These funds will be distributed amongst specific ecosystem growth Multisig wallets as established under RRC 12.
3. The Ecosystem Growth Fund will be repurposed approximately in the following areas: 20% grants, 40% strategic loans, 15% strategic partnerships. The remaining 25% shall be reserved for future claims, ensuring liquidity and responsiveness to community needs.
4. RARI Foundation will publish quarterly reports on the Ecosystem Growth Fund’s activities.

Timeline

• Announce the token reclamation process, provide a 30-day window for reclaiming tokens which will initiate on the day the proposal is executed.
• Provide regular progress updates to the RARI DAO community throughout the implementation phase of this proposal.
• Repurpose the unclaimed funds at the 30 day mark upon execution.
• Provide transparency and regular updates to the RARI DAO on how the ecosystem fund is reallocating the resources.

Costs

No costs are associated with this proposal.

Conclusion

This proposal represents a strategic opportunity for the community to optimize its financial resources and foster sustainable growth. By reclaiming idle, unclaimed tokens and reallocating them to ecosystem fund activities, this proposal will reflect the foundation’s commitment to responsible financial management, transparency, and community engagement.

• Encourage the community to claim their tokens from the legacy wallet within 30 days of the proposal passing.
• Allocate 75% of the remaining tokens to the Rari Ecosystem Fund managed by the Foundation.
• Reserve 25% of the tokens for future claims, maintaining liquidity and responsiveness to community needs.