/EIN News/ — SINGAPORE, July 10, 2021 (GLOBE NEWSWIRE) — NFT ushered in the era of fair governance
As an upcoming NFT trading platform, RARA includes additional advantages such as Defi economic form and NFT value discovery system. In terms of project governance, RARA strictly adheres blockchain principles and implements DAO governance. This enabled the RARA to start mining from zero with unreserved mining, which truly makes the project open and fair in governance.
Fair governance with the DAO
The RARA platform will be controlled by a DAO, which is voted on by the community for various operational improvements, additions and modifications to the platform. Each month, the RARA platform will have a voting period for new governance proposals. RARA governance operates on a secondary voting mechanism in which RARA token holdings do not directly translate into voting rights. Members of the DAO community receive their voting rights by pledging RARA tokens to mint vRARA voting tokens at a 1:1 ratio.
Each community member has a membership level determined by the vRARA holding. There are three levels of membership: Gold, Silver and Bronze. Each has their own membership benefits, including trading discounts, governance rights and an arithmetic factor for mystery box mining arithmetic.
The RARA market game under unreserved mining
In the RARA platform, RARA tokens can be used to purchase NFT, purchase blind boxes to further participate in pledge mining, participate in DAO, etc. In the platform, there are relatively limited ways to generate RARA tokens, and in times of low rare pet NFTs, whoever buys a blind box through RARA to open a rare pet NFT first will gain more. But at the same time, the probability of rare pet NFTs is such that conservative users avoid this approach. Aggressive investors will turn their attention to grabbing rare pet NFTs, which will inevitably result in frequent trading of mined RARA tokens in the market. And frequent trading will cause more RARA to be burned and destroyed as fees. The tightening of RARA tokens will lead to higher prices, greater gains for miners and greater gains for those holding RARA tokens, and these will gradually balance out as rarer pet NFTs are mined. The more RARA tokens burned and destroyed, the more all users on the platform will gain.
100% fair start
RARA is a fair start project, meaning that it does not initially store or allocate its token float, but instead conducts an offering of 48 RARA per block while being open to all. RARA has no maximum cap and operates on a fully inflated and burned model. Starting with 48 RARA per block, the total allocation of RARA per block may be halved over time, depending on the outcome of a decisive vote by the DAO governance.
This is a huge difference and progression from even other projects on the market, more like the early Genesis blocks in the early days of the Bitcoin offering. The governance advantages arising from no set-aside mining could usher in greater market advantages in future DAO governance for RARA.
Early adopters benefit easier
RARA’s economic model determines the platform’s focus on users, and early participants in unreserved mining will benefit more from the platform, both financially, and in terms of DAO governance interests. In RARA’s economic model of mining, 48 RARA tokens will be minted per block, of which 12 are allocated to the mining pool and 8 to the system pool. In addition to the tokens minted, a different number of tokens will be burned on each block, starting with the 28 RARA tokens burned.
That is, only 12 RARA are actually generated per block in the mining pool, meaning that future RARA will become increasingly difficult to mine as the total pool deepens. At the same time the RARA generated by mining can be used for DAO, and for early participants in the RARA ecosystem, they have more opportunities to vote on future governance adjustments to the platform in terms of revenue distribution through DAO governance. For example, changes in the number of tokens minted, burned and allocated to the pool may change in the future depending on the outcome of the vote on the governance bill to increase the flexibility of the platform’s token economics.
Through unreserved zero-mining, RARA’s fair launch drives all users on the platform to first explore the value and weigh the use of the RARA token itself, in line with the platform’s own desire to unlock the value potential of NFT, and subsequently, through the gamification of the system and the continued launch of a new IP series, the platform’s audience will continue to grow, encouraging traditional crypto and non-crypto holders to join and experience RARA’s vast array of IP creators and brands.
Together with RARA, all users of the platform will take entertainment, sports, digital arts and media to new heights by bringing the freshest NFT ownership experience that is more entertaining, sensational and interactive. At the RARA platform, we believe we are bringing a new way of defining ‘intellectual property’,
Media Contacts –
Company – RARA
Website – https://www.rara.farm/
Email – firstname.lastname@example.org
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