Get $RARI for delegating or receiving voting power
Have some $RARI sitting in your wallet? Lock it, delegate your votes until December 15th and get more $RARI! Delegates receiving your veRARI will get rewards too.
This opportunity is made possible through a DAO-proposed and DAO-approved Delegate Incentives Program, the initiative aimed at increasing the total number of $RARI used for governance of the Rarible Protocol ecosystem.
While the majority of the 40,000 $RARI program budget will go to $RARI holders to incentivize delegation, its sizable part is allocated to delegates, encouraging them to engage with token holders and proactively seek delegation. The delegate’s score, calculated according to their activity in the DAO, will act as an amplifier for the delegator’s rewards. In simpler terms, you get more points by delegating your votes to an active governance participant.
Delegation is one of the main pillars of the governance process in a healthy DAO, and RARI Foundation has historically emphasized nurturing and supporting this process. This incentives program is the third initiative this year aimed at increasing governance participation.
The program officially started on November 21st, and rewards will be claimable after conclusion of the program on December 15th, after being calculated automatically and distributed to the appropriate delegators and delegates by a smart contract.
Here’s what you need to know to successfully participate and maximize your rewards:
For delegators:
Total delegator rewards for round 1 are capped at 30,000 $RARI. A max of 10,000 $RARI can be awarded to a single delegator
Delegators only receive rewards on the first 7,500 veRARI delegated to a single delegate. You can make delegations to multiple delegates to achieve full rewards.
A snapshot of the token holders was taken before the start of the program to avoid a single delegator splitting their $RARI into multiple wallets to receive more rewards.
For delegates:
A delegate score metric is used to track delegates’ activity. To have their score correctly calculated, delegates need to confirm their forum account and Tally profile.
If you have any questions, don’t hesitate to reach out to RARI DAO members and RARI Foundation team via our Discord server. For more information on the delegation process, please visit the RARI DAO knowledge base.