Cryptopedia - Rarible

What is $RARI? $RARI is an ERC-20 token that controls the RARI Foundation treasury and governs the Rarible protocol and RARI Chain. The token was issued in 2020 with a max. supply of 25 million $RARI. What is RARI Foundation? RARI Foundation represents RARI DAO which is a community-governed, decentralized autonomous organization that promotes ecosystem growth and shapes the future of the two core infrastructure layers: - Rarible Protocol – open-source and free-to-use infrastructure for building NFT apps and experiences, such as marketplaces, wallets, analytics and more. - RARI Chain – a secure and low-cost Ethereum L3 chain that guarantees royalty payments through enforcement on the node level. RARI Foundation and RARI DAO are committed to broadening the NFT use case horizon by creating a creator-centric and fully decentralized robust ecosystem. RARI DAO governs the following areas under its mandate: - RARI DAO treasury - Ecosystem growth of Rarible Protocol and the RARI Chain This vision is being brought to life through a robust governance architecture that lets anyone get involved in this decision-making by locking $RARI to exercise your voting rights. How Many RARI Coins Are There in Circulation? $RARI was issued in 2020 with a max. supply of 25 million $RARI. The initial distribution of the token was as follows: - 10% airdropped to NFT holders in the cryptocurrency community - 60% set aside for rewarding users of the apps built on Rarible Protocol - Remaining 30% was distributed to investors and the Rarible team When locked, the token can be used for governance in the RARI DAO.