Zora (RAC)

Basics

• Announced on: 1-10-2020
• Mainnet release: L2 went live on 29-6-2023
• Based in:
• From Zima Red (1-10-2020):

"“Everything” exchange, meaning a place where creators can launch products and, through cryptoeconomic systems, capture all of the value they create."

• From The Block (16-10-2020):

"The Zora marketplace, built by the team behind the viral Saint Fame project, is meant to enable fashion brands and musicians to launch products in a tokenized form. Brands can generate revenue based on different product demands, and items are tokenized and sold on a bonding curve — an emerging token sale model in which the value of the token increases algorithmically with each new purchase."

Audits & Exploits

• Bug bounty program can be found [insert here].

Token

Token allocation

From the announcement (1-10-2020):

1. "25,000 RAC split between 1,545 Bandcamp supporters (dating back to 2009)
2. 25,000 RAC split between 219 supporters who bought RAC merch
3. 200,000 RAC split between 152 existing Patreon supporters
4. 14,000 RAC to EGO token holders
5. 150,000 RAC to Twitch supporters (soon)

1. Moving forward we’re going to be giving:

• 50,000 RAC per month across all Patreon subscribers. This will be distributed pro-rata.
• 100,000 RAC for $TAPE redemptions on Zora. 1 $TAPE redemption has a 1,000 RAC reward."

Utility

• From EthHub #34 (5-10-2020):

"RAC is a community token by Zora that is backed by the RAC project. Tokens will unlock access to various perks and exclusive content."

Zora Network Technology

• Whitepaper can be found [insert here].
• Code can be viewed [insert here].
• Built on: Ethereum, L2 optimistic rollup built on OP stack

How it works

• "Zora does not operate the Zora Network itself." (28-6-2023)

Their Other Projects

Auction House

• From EthHub (18-5-2021):

"Auction House is an open and permissionless protocol on Ethereum that allows any creator, community, platform or DAO to create and run their own curated NFT auction houses."

Roadmap

• Can be found [Insert link here].

Team, Funding, Partners

Team

• Full team can be found [here].
• Jacob Horne; creator
• Kerman Kohli
• Tyson Battistella

Funding

• Raised $50M in funding, led by Haun Ventures (6-5-2022).

• From CoinDesk (1-4-2021):

"Raised nearly $8 million in equity sales, according to regulatory documents seen by CoinDesk. Their identities were not immediately known and it was unclear at press time whether the raise includes October’s $2 million seed round."

• From The Block (16-10-2020):

"Has raised $2 million in a seed funding round led by venture capital fund Kindred Ventures, according to a report by TechCrunch published Friday. According to the report, additional investors include Trevor McFedries from startup Brud, Alice Lloyd George, Jeff Staple and Coinbase Ventures."