Rari Capital
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Rari Capital

Rari Capital moving to the Melon Protocol

Scoring you more secure yields in the process

Today, we are announcing that the Rari Protocol will be moving its liquidity to the Melon Protocol to maintain the best balance of the three values we strive towards: security, experience and yield. Today, Rari Capital has $57M in TVL across all three pools.

Crypto is a scary place to build. With each second that passes, people worry that the smart contracts that hold their funds could be hacked. Sure, there are contract insurance solutions — but they are not enough alone. While we have placed security as our top priority, we understand how many DeFi teams do that and still get hacked, especially when attempting to build something groundbreaking.

By moving the liquidity from the Rari Protocol onto the Melon Protocol, it enables the Rari developers to better focus on rapidly iterating and expanding our yield strategies and ensuring a top notch user experience. The Melon protocol understands security unlike many other teams as the protocol has lived through multiple market cycles and survived. Even the Melon Council (charged with protocol governance) is composed of various security professionals, highlighting their priorities.

Along with this transition, we plan to integrate the communities with one another so we have ensured both sets of token holders are rewarded as follows:

  • $RGT holders receive 1500 $MLN proportionally to their holding
  • $MLN holders receive 50,000 $RGT proportionally to their holding

The snapshot will be taken at the time the liquidity transitions. Additionally, claimed and unclaimed RGT will be eligible.

The rationale behind this is multi-faceted. Not only does it ensure that the incentives are aligned between both of our communities, but it also means that we can take advantage of the utilities that each of the tokens bring. For example, $MLN holders can use their newly acquired $RGT to submit proposals to better our ecosystem, leverage fee discounts and a lot more.

So what’s next? Melon will be releasing their new protocol in the coming weeks and when this happens, we will begin migrating the liquidity. With this transition not only can you expect higher yields, but a much cleaner experience. While governance is surely able to revert the transition, we see no reason for that to happen given it only helps the protocol.

For anyone following along at home, the takeaways from the transition are:

  • Rari has the ability to add more strategies faster, resulting in higher yields
  • A safer and more robust protocol managed by two top-notch teams
  • More tokens if you own $RGT or $MLN

We are happy to continue this discussion in our Discord or Telegram. We are excited to hear everyone’s thoughts and hope that everyone shares the same enthusiasm that we do. We are excited to begin collaborating with the Melon team and giving our users heightened yields in the process.

*Please note that Melon protocol will shortly be rebranding to Enzyme Finance.*

To learn more about Rari Capital, visit rari.capital. Stay connected and follow us on Twitter or reach out to help@rari.capital! If you’d like to chat, send us a message on Telegram or Discord.

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