RARA x Satoshi Club AMA Recap from 2nd of July
Welcome to another episode of our AMA series. Today we are glad to tell you about the AMA session with our friends from RARA, the NFT value discovery system where amazing NFTs go viral and get discovered. The AMA took place on July 2 and our guests was Raina, a global ambassador and community leader of RARA.
The total reward pool was 500$ and was divided into three parts. In this AMA Recap we will try to summarize some of the most interesting points for you.
PART 1, INTRODUCTION AND COMMUNITY QUESTIONS
Gold Rocket | Satoshi Club: Hello, dear Satoshi Club community! We are pleased to announce AMA with RARA.
Andres M. | Satoshi Club: @Raina_RARA welcome to Satoshi Club, we are glad to have you here!
Raina: Hello everyone.Excited to be here with Satoshi Club community.
Gold Rocket | Satoshi Club: Let’s start! Introduce yourself please. How did you get to be involved in crypto & RARA? Tell us please about your position in RARA?
Raina: Sure. I am Raina, a global ambassador and community leader of RARA. I’ve been in the crypto industry for many years. I used to be an angel investor and global ambassador for many projects. And then I found RARA, a great NFT value discovery platform.
In RARA project, I am responsible for the explanation and promotion of RARA to let more people know and understand the characteristics and potential of RARA.
Gold Rocket | Satoshi Club: What is the essence of RARA?
Raina: RARA is the NFT value discovery system where amazing NFTs go viral and get discovered. Through the combination of gamified mystery box mechanism and expansive NFT marketplace, we usher in a brand new era for NFT fans.
Andres M. | Satoshi Club: What is the meaning of RARA?
Raina: RARA is Latin for “rare”, a fitting moniker for a token that serves as the global gateway to discover the most creative, luxurious, and valuable NFTs, while the RARA token, which powers RARA, serves as the primary means of unlocking unique NFT creations through Mystery boxes, and the main token accepted on the largest NFT marketplaces for paying for rare artistic items via deep discounts.
Gold Rocket | Satoshi Club: Tell us about the benefits of RARA. How is it different from others?
Raina: Sure. I would like to list those features of RARA:
The first one is that RARA is the NFT + DeFi Game-changer: RARA merges DeFi with the game oriented mystery box NFTs to realize staking and yield mining.
2nd is RARA is a 100% fair launch project. There is no team reservation, no pre-mining, fair launch to everyone at the same time.
3rd, RARA has a large number of IP resources, including games, AV stars and arts, all of which are the top IPs in various fields.
4th, RARA has the most scientific NFT valuation system: The most advanced oracle algorithm is used to estimate the value of NFT to ensure its market value.
5th, innovative high-yield game rules Gamified NFT mystery box, low threshold, new and diversified income.
6th, Unique NFT social circle and social economy, IP creators, fans and liquidity providers are bundled to increase the interaction and strengthen the value consensus of NFTs.
7th, a truly decentralized NFT trading platform with RARA DAO. The community has the most governance power, from putting NFT online to setting the rules of the mystery box game, the valuation of NFT, and the governance mechanism. RARA DAO member can get the discount of transaction fees and higher mining reward.
Q1 from Telegram User @yellowchamp
As your mission is to bring the world’s best artists, brands, and IP’s to the largest global audience of buyers. For my own opinion to achieve your mission you need a heavy marketing strategy to be able to reach the global market and audiences, so what advertising and marketing techniques you are going to engage to be able to reach audiences globally? Do you plan to integrate with some bigger platforms like in TV or YouTube to reach more audiences? To acquire best artist and brands, you really need a big fund to do it, so as a new platform in the market how will Rara provide funds to acquire some bigger artist and brands? How will your platform deal with them? Thank you.
Raina: Actually RARA has exclusive partnered with some finest IP owners, and leading entertainment & media groups which share the same strong interest in exploring the booming NFT and metaverse space. Let me show you an example, RARA recently reached a strategic partnership with VIDYX. VIDYX is a project incubated by VIDY a famous blockchain technology advertising company in Singapore.
VIDYX can be regarded as a subsidiary of Vidy which has over 150 million users and partnerships with more than 75 leading media, publishers and companies from all sorts of fields, including VOGUE, Lancôme, Binance, and subsidiaries of Singapore Press Holdings (SPH), such as AsiaOne, Esquire, Robb Report, Buro247, The Peak Magazine, CNN, CNBC, SindoNews, Okezone, Harper’s Bazaar, Women’s Weekly, L’Officiel, Mothership, AsiaOne among many others (See website www.vidy.com for full list). Backed by its parent company Vidy, VIDYX enjoys abundant IP resources, technology development, etc.
Through the partnership, RARA can obtain a large number of IP resources, and through these IP resources, RARA can quickly obtain more user to the platform.
Andres M. | Satoshi Club: Do you have more current partnerships?
Raina: Yeah. More partnerships are on the way.
Andres M. | Satoshi Club: Congratulations, that’s the way to build a big ecosystem.
Raina: Actually our platform has not officially launched.But the launch date will be very soon.
Q2 from Telegram User @victorogb
The RARA economic model is built around three core modules which are; Mystery Box Mechanism, RARA Marketplace and RARA tokenomics. These modules play a critical role in shaping all activities carried out on RARA platform. Within these modules is the unique NFT valuation system, the RARA gamification series (mystery boxes), the RARA token utilises, buy back and burn mechanisms. With direct emphasis on the RARA buy back and burn mechanisms, how is the full inflationary feature adopted by RARA, effectively incorporated within its core economic modules, and with RARA mining pools, what are the processes and available pools?
Raina: Firstly, I would like to explain RARA economic mode.
RARA, as an NFT platform, provides IP creators with a platform to create NFT and native NFT trading assets. NFTs generated by IP creators are priced and traded through RARA token. At the same time, IP creators publish their own NFTs through social platforms to attract more users to trade their own NFTs on RARA platform. After all, some of the benefits of these NFTs in the future trading process will be fed back to IP creators. In other words, the more frequent NFT transactions generated by IP creators, the higher their returns, the more liquidity providers the market needs.
With the development of IP creators and gamified mystery boxes, more and more liquidity will be needed in RARA marketplace, and liquidity providers can also get more income. The output of new RARA tokens will stimulate new mystery box output and NFT trading, and the benefits generated by these exchanges will be fed back to each role of RARA platform. At the same time, the NFT valuation system on RARA platform will provide all users, including NFT pledgers, with a reasonable NFT secondary market transaction price for reference, so as to protect new users’ judgment standard of NFT assets.
For more info about buyback and burn, you can refer to this article: https://medium.com/@RARA_NFT/raras-economic-model-d57b21401c69?source=social.tw
Andres M. | Satoshi Club: Where we can buy RARA tokens and what are its usecases?
Raina: For now, RARA token has been launched yet. But after the platform be online, you can mine RARA token through mining on RARA platform.
Gold Rocket | Satoshi Club: What are the benefits for hodlers?
Raina: For RARA holders, voting power will be given in the platform’s DAO. And of course, the holders can also enjoy the price increasing.
Andres M. | Satoshi Club: Will be there miner pools?
Raina: Yes. Of course. For this part, we will release more info very soon. Pls pay attention on our announcement channels
Q3 from Telegram User @Jonahapagu
RARA’s DAO module which allows users to make proposals, vote, and enjoy membership benefits, is said to employ quadratic voting to prevent whale dominance and ensure an ongoing democracy among your community… so how does RARA implement quadratic voting in its DAO module, is this done in partnership with any voting platform or is this an in-house implementation, and what other significance will the implementation of Quadratic voting bring to your DAO module when compared with other models.
Raina: In fact, we have not completely determined this issue. We have been studying the logic of Quadratic Voting. The more possible direction is that we will add our new design to the original voting platform and then use it for RARA.
Andres M. | Satoshi Club: Btw, could you share us the roadmap of the project? What’s the greatest event coming for RARA?
Raina: Sure.Firstly, we will launch the mining mode of DeFi + NFT while the platform is online. RARA amalgamates DeFi with gamified Mystery Box NFT by allowing staking and yield farming. Farms and staking pools will be provided to mystery box owners to stake and earn so early participants are attracted at no cost to the platform.
And RARA will build the world’s first decentralized marketplace for Mystery Boxes, allowing for both the trading of dropped treasures and of IP NFTs inside unlocked boxes, as well as potentially the trading of unopened mystery boxes in the future.
And of course, we will release some IP NFTs, including games, AV stars and arts, all of which are the top IPs in various fields.
Q4 from Telegram User @Jmagsss
I can see that in your platform, you plan to stake NFT exchange of rewards. How would you calculate the hash power of each NFT and the amount of RARA token rewards to the NFT holders? Will it be based on rarity and quantity?
Raina: Yes. It will be based on Rarity and Quantity. There are two types of mystery boxes that exist on the RARA platform — IP Boxes and System Boxes. System Boxes is for NFT staking. Each System Box unlocks either a rare pet (Zebra, Shibu, or Possum) or a food item (Zebra Flower, Shiba Rice, Possum Fruit) to collect in bulk in order to attract a rare pet.
Once a user has a rare pet NFT in their possession, they have the option to stake their NFT and earn more RARA per block as they now get a proportional piece of the System Farm token emission. Each system box NFT has its corresponding hash power by which the System Farm would calculate the reward share. And the specific data will come out after the NFT staking goes online.
Andres M. | Satoshi Club: Do you have some designs of those NFT to share us?
Raina: This is one of our system NFT box.
Q5 from Telegram User @luk4jah
In the System Box Rarity System each system unlocks either a pet or food item to collect them in bulk in order to attract rare pet. Will users have to stake their NFT to unlock these boxes to earn more $RARA? What corresponding hash power does the system have? Can you please give us a sneak peak of those rare pets and tell us how this system works as regards to the rare pet and food that are used to attract those pets and what will be the percentage of a user that unlocks each system boxes.
Raina: Because RARA platform has not launched yet, and the NFT mining has not started, so I am afraid that I cannot tell you the specific peak or percentage. But the system Boxes are also a kind of mystery boxes. They are needed to buy through RARA token. And to obtain RARA token, you need stake the LP token of a pair tokens. More details will be released after RARA goes online.
Q6 from Telegram User @emidm28
A few days ago the First Class of RARA Cram School was held. How often will these classes be held? Are these classes open to all users in the community? Can we participate in as many classes as we want or are there limited seats?
Raina: In order to help the community, understand RARA more quickly, we have a RARA NFT School class in the community every Thursday. Every time the questions will be collected and selected from Twitter and community, please continue to pay attention to our Twitter announcement.
Andres M. | Satoshi Club: That’s great, and do you have the ambassadors program yet?
Raina: Here is the recap for 2nd class https://medium.com/@RARA_NFT/recap-the-2nd-class-of-rara-nft-school-846f480c0681
Wow, we just published it 2 hours ago. https://twitter.com/RARA_NFT/status/1410988604655083530
Andres M. | Satoshi Club: Great idea, knowledge is the key.
Excellent news. Satoshiclubbers let’s join, big rewards for you.
PART 2, TELEGRAM COMMUNITY LIVE QUESTIONS
The chat was open for 120 seconds; a lot of questions were posted by Satoshi Club community. Our guest chose some of them.
Q1 from Telegram user @beerskit
Today I read the news about Ethereum exceeded the Bitcoin today as wallets. Is it 100% certain that you will launch RARA with BSC blockchain? Any plans for Ethereum?
Raina: Yeah. The gas fee is always a painpoint of Ethereum network. And we also considered this point, so we deployed our platform to BSC network. And here we have more space to develop our ecology.
Q2 from Telegram user @zhonmacro
Which do you think is more important:
1. Community. 2. Investors. 3. Token Price. If all of the above is important to you which should come first?
Raina: We do think that the community is the most important for us. RARA aims to make a truly decentralized NFT trading platform with RARA DAO.
The community of RARA has the most governance power, from putting NFT online to setting the rules of the mystery box game, the valuation of NFT, and the governance mechanism. RARA DAO member can get the discount of transaction fees and higher mining reward.
Q3 from Telegram user @nadee5
RARA token and vRARA token. Why are there two different tokens and what are the use cases of these tokens? What are the benefits of holding these tokens?
Raina: RARA token is the platform token. It bears three roles within the RARA platform:
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.
Payment &Fee: 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.
Incentives: To bootstrap RARA liquidity, mystery box market and marketplace, mining pools and farm are provided to liquidity providers and mystery box owners.
And vRARA token is the one only for RARA DAO system. That means 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 determine the benefits he/she enjoys
Q4 from Telegram user @cockroachesgaing
As you know, RARA and VIDYX are establishing a strategic partnership in which both sides will acquire their respective strengths and share resources to highlight NFT values. Now my question Is, how will this partnership benefit both platforms? And how long can this partnership last? And Can you share more information about the partnership?
Raina: Through this partnership, RARA and VIDYX will jointly develop more quality IPs and find more creators. By giving full play of the NFT platform and solution provided by RARA, the two parties will promote the prosperity of content economy and creation economy.
Q5 from Telegram user @highpee
RARA has a lot of great features but I can’t find your OFFICIAL WEBSITE. Does it mean that you don’t have a website or am I the one who is not searching rightly? Kindly help me with this and other repository that I can use to get to get enough info about what RARA has to offer.
Raina: Sorry for your inconvenience. Cuz our platform has not launched yet, so we did not show the website to people. But I think I can share a little of our web to you SatoshiClubbers, for thanking for your hospitality.
Q6 from Telegram user @obulin
Wish you a great success in your project.
Few hours before, I saw a recent announcement in RARA twitter about RARA global ambassador program — RARA guardian angels. Big rewards $10000. Who can apply for this RARA guardian and is this similar to moderating the community?
Raina: Yeah. Thanks for your attention. Our global ambassador, we named as RARA Guardian Angels, are kind of partners, not only for moderating community. They should contribute to:
- Social Media engagement
- Partner outreach
- Content Creation
- Community Engagement
- Testing RARA products
- Helping drive Governance
- Establishing and growing regional communities
On top of the experience, the angels’ reward pool totals up to $10000 per month (pay by $RARA) and will increase accordingly to RARA community’s participation and contribution.
Who can be a RARA Guardian Angel?
Anyone! We encourage everyone with a passion for NFT looking to foray into crypto space and supporters of RARA to apply. We are looking for:
NFT enthusiasts who want to explore the space working closely with the RARA team; Active members of the RARA community; Contributors with a creative touch be it content creation, memes, gifs, infographics, charts and more.
Q7 from Telegram user @Indomiekuy
I learn from your site that RARA tokens will be initiated through mining on RARA platform also RARA has no max cap and operates on a fully inflationary and burning model. How will be the burning system work for RARA token?
Raina: So many friends are interested in the burning & buyback mechanism of RARA. Good. Let me introduce it to you.
RARA operates on a fully inflationary and burning model. In Secondary NFT Markets, RARA receives revenue (5% trading fees) for Non-RARA Sales (5% trading fees). 70% of these revenue will be used for Buybacks of RARA and then Burn.
In Mystery Box section, RARA receives revenue (5% trading fees) for each IP mystery Box that is purchased by users on the site. 50% of these revenue will be used for Buybacks of RARA and then Burn. In Mystery Box section, 30% of the total revenue of System Mystery Box for Buybacks of RARA and then Burn.
In Mining Pool section, 5% of the Yield on Mining Pools is for Buybacks of RARA and then Burn. 100% withdraw fees in the pool (withdraw in 72 hours) for Buybacks of RARA and then Burn.
Q8 from Telegram user @cryptonation2
How do you plan to raise awareness of RARA platform in global level? If you have any ambassador programme available do you accept from all regions and how may I apply for it?
Raina: In fact, our platform has attracted the attention of many influential people. Recently there is a big influencer helping to promote our project. And the number of these people is gradually increasing. I believe that with the launch of RARA platform, more people will pay attention to RARA. Of course, we have also formulated a fairly complete market plan, so there is no need to worry about this.
Q9 from Telegram user @PyaraLarka
Any $RARA earn program? If yes, then share with Satoshi Club Thank U.
Raina: Yes. Actually we are holding bounty programs every week. If you joint our community, you will know that. Pls join and follow our channels to get these programs to earn RARA. Twitter: twitter.com/RARA_NFT
Telegram Announcement: t.me/RARA_Announce. Telegram Chat: t.me/RARA_Global.
Q10 from Telegram user @tumarjonno
Its little confusing what’s your business revenue module to run your project with zero fees on deposit, withdrawals and performance fees? will there be possibility of adding fees in the future?
Raina: To learn our revenue model, here is an info graph to help you.
PART 3, QUIZ AND INFO
As usual, for the third part, Satoshi Club Team asked the chat 4 questions about RARA. A link to a Quiz form was sent into the chat. Participants had 10 minutes to answer. 300$ were distributed between the winners.
For more information and future AMAs, join our Social Media channels:
English Telegram group: https://t.me/Satoshi_club
Russian Telegram group: https://t.me/satoshi_club_ru
Spanish Telegram group: https://t.me/satoshi_club_spanish
Telegram Channel: https://t.me/satoshi_club_channel
Telegram Announcement: t.me/RARA_Announce
Telegram Chat: t.me/RARA_Global