Utility of RARA Tokens
RARAs Tokenomics is awesome it’s a new sun in the sky of NFTs.
RARA is a Fair Launch Project, which means it has no initial storage or distribution of its token float and instead conducts an emission of 48 RARA per block, open to everyone at the same time. RARA has no max cap and operates on a fully inflationary and burning model. Beginning at 48 RARA per block, the total per-block distribution of RARA may be halved over time depending on the casting vote results of the DAO’s governance.
RARA Tokens have basically three utilities
- vRARA tokens
- Payment and fees
Governance token: The core function of the RARA Token is to be the governance mechanism for RARA itself. The token is intended to align incentives between various stakeholders within the ecosystem to promote sustainable growth and fair governance.
The RARA platform is controlled by a DAO that votes by the community to decide on 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 is running on a quadratic voting mechanism where RARA token holding is not directly translated into voting power. Members of the DAO community derive their voting power via staking RARA tokens to mint vRARA voting tokens at a ratio of 1:1.
Each community member will have a membership level which is determined by vRARA holding. There are three membership levels: Gold, Silver, and Bronze. Each will its own membership benefits including trading discount, governance rights, and a farming multiplier for Mystery Box Farm hash power.
vRARA is the voting token of RARA which is non-tradable but gives a user the voting power on governance proposals. Each vRARA will count as one vote towards a proposal. It also determines one’s membership level and thus determines the benefits he/she enjoys.
To acquire vRARA, a user has to stake his RARA token at a ratio of 1:1.
Payment & Fees
RARA Token also serves as the medium for transactions. Such scenarios include using RARA as a payment method or paying fees for using RARA. Users can purchase mystery boxes using RARA token while buy and sell on RARA Marketplace and pay the transaction fee in RARA token.
We can also buy RARA-VIDYX & RARA-BNB add liquidity to the pool or stake our tokens and grow the money.
RARA tokens have given quite a handsome return till now.
To bootstrap RARA liquidity, mystery box market and marketplace, mining pools and farm are provided to liquidity providers and mystery box owners.
By holding vRARA and maintaining a membership level, you will enjoy the following benefits:
**multiplier means that your hash power in the mystery box farm is multiplied by the corresponding multiplier so your share in the Farm will increase accordingly.