Profile of arikthereal in Rari Foundation

Posts by arikthereal

• RRC-XX Proposal: Repurposing Legacy Wallet by arikthereal - No Role
  Posted on: July 10, 2024, 7:38 a.m.
  Content: gmgm, @bitblondy @Firefly 808 @forexus @WinVerse @addie thank you for the feedback above. @bitblondy Fund Allocation: The funds in this wallet were allocated for airdrops, but they were never claimed. We want to ensure that delegates reclaim as much as the funds as possible, so we are providing a long timeline for them to claim them. Once that is done, we will still allocate a % for future claims. Our objective is to make sure all delegates that have an airdrop claim will always have a chance to claim them. For repurposing the funds: The Ecosystem Growth fund is designed to have the biggest impact on the RARI chain. Through strategic partnerships, we feel confident this will provide the highest ROI of these funds. @Firefly 808 totally! This is our objective, so no one loses any rewards that belong to them. Once this proposal is approved on Tally, we will broadcast to all of our channels to get the word out. @forexus We will also broadcast this proposal to our discord community call to remind people to claim. We will have a deadline set on the proposal, but in the chance they don’t, there is a % carved that will indefinitely sit in the treasury for them to claim at any time in the future. @WinVerse Yes, we can adjust the ultimatum on when to claim the tokens. EOY might be too long because we are planning on investing the remaining of the funds in the ecosystem fund. On > 25 % of the tokens being claimed, our estimate is that this its rare. We want to push marketing heavily to get as many folks to claim during the timeline period. @addie unfortunately, I am not able to change the proposal to RRC-XX, but will keep it mind for any next submission.
  Likes: 1 Replies: 2
  Likers: bitblondy
  Replies:

  • addie: arikthereal: @addie unfortunately, I am not able to change the proposal to RRC-XX, but will keep it mind for any next submission. Thanks @arikthereal! I made the edit from RRC-26 to RRC-XX on this forum post. Then when it moves to Tally, please confirm the current proposal number prior to submission. At the moment, it would be RRC-27 as RRC-26 Tokenomics Working Group Proposal passed recently on Tally. However, this might change if another proposal draft makes it to Tally before this proposal draft does.
  • bitblondy: Thanks for the clarification, I support that there will remain a share available for long-term claiming (from a reliability perspective). Returning to the Ecosystem Growth fund makes sense as well, was just pointing out we could think about other incentive mechanisms in general.
• RRC-XX Proposal: Repurposing Legacy Wallet by arikthereal - No Role
  Posted on: June 18, 2024, 2:11 p.m.
  Content: Proposal: Repurposing Legacy Wallet Abstract This proposal outlines the plan to reclaim unclaimed tokens from the legacy wallet 2 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 RRC 12 ). 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: 0 xFDfF 6 b 56 CcE 39482032 b 27140252 FF 4 F 16432785 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 ( 0 xFDfF 6 b 56 CcE 39482032 b 27140252 FF 4 F 16432785 ) contains over 1 . 1 M 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 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 1 After the grace period, the full amount of the recovered Legacy treasury will be sent to the RARI Foundation’s main wallet, eth: 0 x 2 a 83 d 2891 Ef 3 df 6967 E 3 C 2 e 9 b 69 cCc 7 aD 029736 B. These funds will be distributed amongst specific ecosystem growth Multisig wallets as established under RRC 12 . 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. 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.
  Likes: 2 Replies: 1
  Likers: jengajojo, bitblondy
  Replies:

  • WinVerse: Thank you for putting this up Arik! It is good we are having this conversation now. I am in support of repurposing the legacy wallet but would love to touch on the suggested distribution a bit. arikthereal: 25% reserved for potenital future claim 75% reminder distributed across: Grants (20%) Loans (40%) Strategic Partnerships(15%) Is it possible we give a three-month ultimatum (could be extended to EOY) for people to claim funds then totally deprecate that channel by allocating all the funds to Ecosystem growth? I am saying this because these funds have been sitting on this wallet for quite a while and the suggested percentage to reserve could come back to hurt us in a situation where >25% is requested.
• RRC-12: RARI Ecosystem Growth Fund by arikthereal - No Role
  Posted on: Oct. 11, 2023, 2:57 p.m.
  Content: Hi everyone, Apologies for the delays while I was travelling. Everyone thank you for reviewing proposal and bringing in valuable feedback. Special thank you for the edited version to @JanaBe and @Matt_StableLab. To recap, questions raised were all addressed in the revised version (how the Foundation and community partner on grant recipient selection, what the criteria will be, can the fund accomodate other community proposed initiatives, isn’t 1 year lock for funding too long). One outstanding question is measurement of the ecosystem growth, which the Foundation and the Protocol team work through in detail. Excited to see voting for this proposal.
  Likes: 4 Replies: 0
  Likers: lionmsee, jaf, winverse, addie
  No replies yet.
• RRC-12: RARI Ecosystem Growth Fund by arikthereal - No Role
  Posted on: Sept. 18, 2023, 10:23 a.m.
  Content: Abstract This draft document aims to establish the RARI Ecosystem Growth Fund. The growth Fund will drive innovative Rarible protocol’s adoption and strategic partnership to accelerate RARI ecosystem growth. This document proposes this fund be administered and managed by the RARI Foundation with periodic detailed reporting to the community. Motivation Relying on the organic growth of the RARI ecosystem does not capture its full potential. The RARI DAO needs to attract innovative projects to build with the Rarible Protocol to materialize the future of new NFT use cases powered by our tech stack and being a leading Protocol in the NFT space. Similarly, entering strategic partnerships that will drive exposure to the RARI ecosystem is crucial to raising awareness of the RARI DAO, its mission, and the value it brings to the ecosystem. Rationale The RARI DAO and the RARI Foundation work together to grow decentralized NFT infrastructure, power mass adoption of NFTs, and enable innovative NFT use cases. However, for the Rari Foundation to be most effective at accomplishing these goals they must be funded with $RARI in order to fund a grants program, strategic loans, and strategic partnerships. By tasking the RARI Foundation to administer and manage the Ecosystem Growth Fund, the RARI DAO will continue being the governing body and the decision-maker but will delegate the responsibility and day-to-day management to the RARI Foundation team. Key Terms Rarible Protocol - multichain indexer and order book with SDK RARI Ecosystem - applications utilizing the Rarible Protocol $RARI - ERC 20 token, used in the RARI DAO governance Specification The Ecosystem Growth fund shall be composed of 3 parts: Grants allocation Strategic loans Strategic partnerships Grants allocation: We propose a total of 250 k RARI to fund early-stage projects that align with the mission of the RARI DAO: growing NFT ecosystem & innovative NFT use cases powered by the Rarible Protocol. The grants shall be allocated to projects that build with the protocol or that contribute to the protocol, not for marketing or promotional purposes. The individual grants should take the form of locked RARI that is revocable for a period of 1 year to ensure the grant recipients deliver their projects in full. Strategic loans We propose a total of 800 k RARI for strategic loans to partners who are committed to pursuing our ecosystem health and growth. The loans are to be returned in full at the end of each loan period to the Foundation and the loan period should not exceed 12 months. Activities of the loan recipients may include (but are not limited to) R&D, community-building initiatives, and marketing. Strategic partnerships We propose a total of 350 k RARI to incentivize strategic partnerships that will amplify our reach to new audiences and communities. These partnerships may include subsidizing strategic protocol integrations, marketing integrations (outside of smaller-scale marketing covered by the operational budget), and incentivizing partners to help foster ecosystem growth with pre-agreed, customized benchmarks of value provided to the RARI community. In total, the fund would amount to 1 . 4 M RARI, and the proportions of the fund are to be requested. The RARI Foundation will be obliged to publish quarterly reports on the fund’s allocations and engage the community in grant recipient selection. The fund will be under the RARI Foundation’s management for a period of a minimum of 12 months, after which the community may request the return of the unspent fund. Steps to Implement The RARI Foundation shall set up a new multisig wallet (same signees as the current administrative wallet) dedicated solely to the use of the Ecosystem Growth fund. This wallet is to receive the fund’s full amount.
  Likes: 8 Replies: 1
  Likers: addie, jaf, matt_stablelab, lionmsee, tyler, meg-gitcoin, jarisjames, crown
  Replies:

  • dzonson.eth: arikthereal: The RARI Foundation will be obliged to publish quarterly reports on the fund’s allocations Proposal was executed in October last year, where can we find these quarterly reports? Thanks