Rarible (RARI)
Rarible allows you to create and sell NFT collectibles at digital art marketplace Right pointing backhand index.
Basics
"RARI is designed to give community members the power to shape the platform’s future, curate, moderate, and vote for new features."
History
Audits & Exploits
- Bug bounty program can be found [insert here].
Bugs/Exploits
- From Blockthreat (19-4-2022):
"Rarible fixed an XSS inside a malicious NFT that could be used to steal arbitrary tokens from users after it was responsibly disclosed by CheckPoint Security.
Rarible also fixed an XSS inside in user’s profile page after it was responsibly disclosed by Palisade Consulting."
Governance
Admin Keys
- More can be read here (31-8-2020).
DAO
Treasury
Token
Launch
Token allocation
- From Token Tuesdays (15-9-2020):
"Rarible distributes governance tokens using ‘markeplace mining’ in which 75,000 RARI is allocated each week evenly between buyers and sellers.
While the project suffered from a streak of wash trading in the early days, it’s since turned to governance to help address this issue through the inclusion of commissions for buyers and sellers on each marketplace transaction.
In its current form, the 2.5% commission to buyers and 5% commission to sellers will be routed to a cold storage wallet owned by the core team, rather than being governed directly by RARI holders."
Utility
Token Details
Stablecoin
Tech
- Whitepaper can be found [insert here].
- Code can be viewed [insert here].
- Built on: Ethereum, Solana and Polygon, Flow, Tezos coming (8-12-2021, and happened on 16-2-2023).
How it works
Fees
Upgrades
Staking
Liquidity Mining
Scaling
Different Implementations
Interoperability
Other Details
Oracle Method
Privacy Method
Compliance
- Can suspend people their accounts (10-10-2020):
"We have suspended the OFF BLUE team account until further examination due to potential violations of our terms of service. Rarible is not intended to facilitate capital-raising transactions. Please see https://rarible.com/terms or contact info@rarible.com for details."
Their Other Projects
- Will have its own Arbitrum RARI Chain (30-11-2023).
- From Token Tuesdays (15-9-2020):
"Rarible has been turning heads with its innovative tokenization opportunities including yNFTs - or NFT-based insurance covers underwritten by Nexus Mutual."
Roadmap
- Can be found [Insert link here].
Usage
"Rarible monthly NFT sales are now 10x that of OpenSea. Following the launch of the $RARI token and a liquidity mining incentive program, sales surged to over $6M"
- Exceeded $48 million in total sales volume on the platform (2-2021).
Projects that use or built on it
- Twitter. From Week in Ethereum (3-7-2021):
"Twitter creates 140 NFTs, 7 designs with 20 each, as an ERC1155 on Ethereum using Rarible."
Competition
Pros and Cons
Pros
Cons
Team, Funding, Partners
Team
- Full team can be found [here].
- David Pakma; board of directors (8-2022)
Funding
- From The Defiant (9-9-2020):
"Has raised an undisclosed amount in a pre-seed round closed by crypto investment firm CoinFund.
“The investment will help Rarible develop a community-governed, blockchain-based NFT marketplace that enables a direct relationship between digital content creators and buyers,” Rarible’s announcement said."
- From The Defiant (3-2-2021):
"Announced a $1.75M seed round from investors including 1kx, ParaFi Capital, Coinbase Ventures, and Coinfund."
- Matter Labs; according to Matter Labs, the founders and leadership of a bunch of DeFi projects, among which this project, joined in on the $50m raise for zkSync (8-11-2021).
Partners
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