Proposal: Increase Co-investment Limit to 250K BNT on Rarible (RARI) Pool

This proposal is expected to appear on Snapshot for voting on 2021-06-07T13:00:00Z


  • Proposal to increase Co-investment to 250K BNT.
  • Rarible is an established NFT marketplace

Token Address: 0xfca59cd816ab1ead66534d82bc21e7515ce441cf

Project Website:

Token Security

RARI does not have an elastic supply or rebase mechanism. The token contract appears to be using the standard OpenZeppelin libraries.

RARI has a 25,000,000 fixed supply of which 4,079,788 are circulating.

The contracts and addresses with the highest concentration of RARI tokens are held by Proxy Contracts (rank 1,2,6), Sushiswap Pool (rank 8), MXC (rank 9), Uniswap Pool (rank 10), Arb bot (rank 7), Investor/Team (rank 3, 5) and weekly rewards distributor (rank 4).


Rarible is a software allowing digital artists and creators to issue and sell custom crypto assets that represent ownership in their digital work.

Of note, Rarible is both a marketplace for those assets, as well as a distributed network built on Ethereum that enables their trade without a middleman.

The tokens that creators generate on Rarible are known as non-fungible tokens (NFTs). Each NFT is unique, and unlike bitcoins (or other units of money), they are not interchangeable. This property is known as fungibility, which is why tokens on Rarible are called non-fungible. Examples of NFTs found on Rarible’s marketplace include digital artworks, memes and even parcels of virtual land.

Central to the platform is RARI, Rarible’s cryptocurrency. By owning RARI tokens, users can vote on proposals that affect the platform, moderate creators and curate featured artwork.


RARI is the native governance token of Rarible and is designed to reward active platform users – buyers and sellers – with the ability to eventually govern the marketplace.

RARI can be obtained by:

  • Create and selling NFT on the marketplace
  • Collecting and buying NFTs
  • Existing NFT holders prior to July 15, 2020, were potentially eligible to get the intitial Rari airdrop

From a high level, RARI holders are entitled to:

  • Submit a proposal about:
  • Platform’s trading fees
  • New features to be implemented
  • Decide on the future development of the protocol.
  • Vote on proposals
  • Moderate creators on Rarible
  • Curate featured artworks

There are 25 million RARI tokens created in total:

  • 30% will be reserved for the company, investors, and the founding team.
  • 10% of the initial RARI distribution is reserved for NFT holders regardless of platform, a long time NFT holders should check to see if they have any claimable RARI.
  • The remaining RARI supply (60%) will be distributed via “marketplace liquidity mining” – airdrops to individuals who buy and sell NFTs on the Rarible marketplace – over the next four years (75,000 distributed weekly).

Community and Communication

The Rarible team operates an official Twitter, Instagram, YouTube, and Medium account. The repositories for their code is hosted on GitHub. There is a governance Forum, Telegram, and Discord that’s also available to their community.

The Rarible team is non anonymous and their founders have public profiles:

Founder: Alex Salnikov
Founder: Alexei Falin

Market and Trading Data

  • RARI price at the time of writing is $10.10
  • All-time high: $46.70 (Mar 29, 2021)
  • All-time low: $0.26 (Jul 22, 2020)
  • Price 90 days ago: $23.36
  • 4,083,893 tokens in circulation
  • 25,000,000 maximum supply.
  • The current market capitalization is $41,286,129
  • Token Fully Diluted market Capitalization is around $252,737,564
  • The RARI token is available on Kraken, HitBTC, AEX
  • The highest 24-hour spot volume on CEX is on AEX around $1M and on DEX $420K on Uniswap.

I’m for it. Real projects with users should get white listed.


Rarible is a very interesting project, and I think working with an NFT market is a great way to boost our market share. But I’m not sure if whitelisting a pool with zero depth is a good idea, and I couldn’t support it in a vote. I think liquidity mining would be a better way to get this pool going. We should build a market and see how it stands on its own, before we take the risks associated with protecting it against impermanent loss.

1 Like

I think this proposal is a good add. RARI is a great quality token with nothing preventing it from a whitelist. The co-investment seems sensible since it’ll beat out the sushi and uniswap pools by a small bit.

Also I went ahead and took a look at 1INCH to check out if we would see traffic through aggregators and it does seem that way. 1Inch seems to route a significant amount of trades for this token so it makes sense to want to have the deeper pool.

The only problem I see with the pool not currently having liquidity on it would be that someone would have to bootstrap it.


Liquidity has to start somewhere. Im a RARI holder and now a BNT holder. All for this


Rari is already whitelisted;

However, its co-investment limit is only 20k. I suggest editing this draft to an increased co-investment draft (250k sounds good to me). Separately, we need to find someone to bootstrap it. It only requires 1000 BNT to activate the protection contract.


Welcome to our governance forum!

1 Like

There shouldn’t be any problems with whitelisting pools with zero depth. Typically, that’s how we start the process of onboarding communities and the only thing that prohibits a whitelist is any security issues around the token (see 1inch, cream, and the other tokens that just got whitelisted). As long as the project is legitimate, has a good community, and the token isn’t concentrated in a small amount of holders (this isn’t a deal breaker, could be vesting or community treasuries. Anything greater than or equal to 5% might require some investigation) then it should be OK from our end to whitelist.

The security aspects are important since the protocol is co-investing and if the token has an infinite minting bug then it could potentially drain the BNT side. There could be other issues, e.g. rug pulls from the team but these tend to be less common with non-anonymous teams.


Welcome, Mr. Cuban! Glad to have you onboard and appreciate your support for this proposal.


Thanks, Mark. I will change this over to a Co-investment increase proposal. It looks like a kind soul has seeded the pool and we should be good for single sided staking with IL protection on this pool.


Hey everyone, I staked my VBNT too late to vote on this, but my 29k VBNT would have voted yes :slight_smile: