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Rarible Protocol DAORarible Protocol DAOby0xeFE5D1a4078B3b91c9bB2367d24061f45C799DFb0xeFE5…9DFb

Scaling tokenomics and governance

Voting ended over 5 years agoSucceeded

Many consider the current model of distributing 75k tokens flat on a weekly basis suboptiomal. There are platform participants and bigger names that push the high majority of the total transactions, and as RARI is a governance token, "centralize" a lot of power in their hands. There are participants who may not push as high a volume of transactions, or may not be art creators/collectors at all but believe in the platform, in its current form as well as in what it can become. Others may be helping grow the platform in vastly different ways via own professional skills, connections and networks and see the possibilities of other NFT asset classes being implemented. If we seek decentralization, let those that believe and support the growth of the platform do so without diluting their governing power.

Therefore I would like to propose a system that rewards a flat VALUE but also allows other supporters to retain value and governance power.

Reward a flat X amount of value (let's say dollars) per week, represented in Y RARI tokens. So the RARI token distribution would be Y where Y = X/currentRARIprice

i.e. if a total distribution of $150K is decided then ----if currentRARIprice = $2 --------$150.000/2 = 75k RARI ----if currentRARIprice = $1.5 --------$150.000/1.5 = 100k RARI ----if currentRARIprice = $2.5 --------$150.000/2.5 = 60k RARI
etc.

Obviously the formula is to be discussed and the flat value of the rewards could be re-adjusted based on the number of total participants getting rewarded for example.

This way the participants would be getting their value no matter the price fluctuation, and those that want to support and hold governing power in the platform would not be deminished, as the value increase would carry a reduction in governance power dilution from those who only reap the value short term and incentivize accumulation and holding for those that want to support and participate longer term.

Off-Chain Vote

Reward $150k value of RARI weekly
1.33K 94%
Reward some other flat $ value
60.44 4.3%
Keep current model
24.35 1.7%
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Timeline

Nov 26, 2020Proposal created
Nov 26, 2020Proposal vote started
Dec 04, 2020Proposal vote ended
Oct 26, 2023Proposal updated