Rari Update #1: The Future
Discussing last week’s launch, the Rari Treasury, projects built on Rari and potential governance proposals
It’s been a crazy week. We launched Rari Capital V2 which includes liquidity mining, new pools and a lot more (read more here). Now we’re sitting at >$85,000,000 TVL and climbing. With this much inside of the Rari pools, it comes with a great amount of responsibility but also excitement.
Rari’s vision has been to enable people to earn on crypto-networks through passive utilization, instead of pure speculation and we’re excited to finally be delivering on that. Let’s walk through what we’ve done this past week and where we are going and how you can help.
This past week has been pretty busy, some notable features shipped include:
- Launch of $RGT liquidity mining (view more here)
- Launch of Yield Pool and ETH pool (view more here)
- Redesigned dashboard to track $RGT and pools (see here)
- Bug fixes: API overload issue and deposit issues
Treasury and Milestones
For now, that passive utilization has been bootstrapping off of other DeFi protocols. The protocol has successfully been earning by doing things like supplying liquidity to mStable, earning on Compound, and even liquidating via KeeperDAO. We don’t just want to do this forever. We want sustainability.
With the growth of TVL in the protocol, it has led to growth of the Rari Treasury (takes 25% of protocol revenues). Inspired by Yearn and Yams, the Rari Treasury is built to drive forward the Rari Protocol. While that may seem vague, here are some initial ideas we are exploring:
- Leveraging the pool tokens to create a money market with nearly free borrowing experience (hypothetically possible to get paid to borrow)
- Creating an AMM that leverages pool tokens efficiently as a means of offsetting IL
- Incentivizing intense strategy expansion (ie integrating APY Finance, Pickle, RealT, etc)
- Insurance products built to allow insurers to earn additional yield when providing cover
- Utilizing capital within the system to bring Ethereum’s DeFi onto other chains and layers
- Utilizing capital in the pool to provide off-chain loans in areas currently underserved by traditional finance
- Literally anything and everything that can either: increase APY or TVL or just push the space forward
If you are interested in building any of these things, join our Discord (here) and let’s chat.
We have also heard from the community that there are things they want us to look into on behalf of governance:
- Long-term inflation, aligning new depositors with the protocol, past the next 60 days
- Incentives for the $RGT and pool tokens on Uniswap, permitting someone to buy or sell without insane slippage (Pool2-esque)
- Transparency into the Rari Foundation and its capital deployments
We’ll be working on proposals that will help coordinate around each of these different pieces.
Progress and Growth
There has been insane growth within the protocol in terms of TVL and also APY’s. We’ve seen growth from under $1m TVL as of last week into more than $85m TVL. Alongside this, we introduced the ETH pool which was able to accumulate nearly 90,000 ETH and yield pool with nearly 5m in stablecoins. Outside of that we see nearly 50m in the stable pool.
We cannot do this by ourselves. We want to hear from you, talk about it and execute on it together. We are distributing 87.5% of the token because we want this to be equally your project as it is our project. We are real people, not anon developers, solving real problems in crypto and we want to do it with you.
Join our Discord (here) and let’s chat, ideate and fucking build. We are all in this together as $RGT holders.