Explains the allocation of $RARE tokens to various stakeholders in the network
The official contract address for $RARE is: 0xba5BDe662c17e2aDFF1075610382B9B691296350
*Please always triple check that you are interacting with the correct contract address and be aware of scams!*
Supply: 1,000,000,000 $RARE
Retroactive Airdrop - 150,000,000 $RARE (15%)
Distributed to the core community of artists and collectors who have bootstrapped SuperRare into the platform that it is today.
Airdrop tokens were claimable 90 days following the launch of $RARE. Unclaimed tokens will be reallocated to the Community Treasury.
The airdrop has been allocated based on a combination of gross market value (GMV) and quantity of art purchased/sold. This factored in the aggregate volume of transactions (measured in ETH) as well as the number of pieces transacted.
A major goal of this distribution was to democratize the $RARE airdrop by taking into account how early members joined the platform and how active they have been since. Using ETH as a metric for distribution favored early adopters while transaction volume provided a factor to benefit those buying and selling work on a recurring basis, regardless of final sale price.
Community Treasury - 400,000,000 $RARE (40%)
Retained by the Community Treasury that will be owned and operated by $RARE holders.
The Community Treasury will initially be custodied by a DAO governance Council - described in detail elsewhere.
$RARE tokens held in the DAO Treasury are eligible to be used for the benefit of the SuperRare DAO and subject to necessary governance procedures.
25% of the DAO Treasury (100M $RARE) vests immediately launch (August 17, 2021) while the balance will vest linearly on a monthly basis over the course of 4 years.
Team - 255,000,000 $RARE (25.5%)
Granted to the core contributors at SuperRare Labs who have played a vital role in developing the SuperRare platform into what it is today.
This allocation ensures incentives are aligned between the core team and the wider community, providing a mechanism for participation in future governance and helping guarantee the long-term success of the platform.
Team tokens are subject to 3 year vesting period conditioned upon continuous services to SuperRare Labs with a firm 12 month token release cliff.
Investors - 145,000,000 $RARE (14.5%)
Granted to investors who participated in SuperRare’s previous funding rounds.
In March, SuperRare raised a strategic round from leading funds and investors to bridge the gap between crypto and the traditional art world. A full list of these partners can be found here.
This allocation allows our investors to participate in future governance if they so choose.
Investor tokens are all subject to the same exact release schedule - 25% of tokens after a 12 month cliff with the remaining to release linearly on a monthly basis over the following 2 years.
Reserved for strategic partners and future contributors to the SuperRare network.
These tokens will be overseen by SuperRare Labs and used as an incentive for onboarding of key contributors and to expand the presence and awareness of SuperRare.
$RARE allocated from this pool will be granted to those who helped bring the SuperRare network to launch and to future employees.
$RARE allocations to Strategic Partners & Future Contributors will be subject to vesting schedules on a case by case basis in accordance with the terms of their respective service agreements, but will have require a minimum of 6 months from the first date services were provided to SuperRare before tokens can be awarded.