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Summary of SuperRare (RARE)
Key Points
- Founded in 2018, SuperRare is a curated marketplace for onchain art with $300M in total sales and $180M earned by artists.
- $RARE token offers utility, staking-based reputation system, and DAO governance rights.
- SuperRare is governed by $RARE token holders through RareDAO.
- 7-person governance council controls the Community Treasury via 4-of-7 multi-sig wallet.
- Total supply of RARE is 1 billion, with distribution among community, contributors, investors, and partners.
- RARE is an ERC-20 token on Ethereum, secured by a proof-of-stake consensus mechanism
About SuperRare: A Pioneering Digital Art Marketplace
Introducing SuperRare (RARE): The Pioneering Digital Art Marketplace
Established in 2018, SuperRare has emerged as the premier curated marketplace for on-chain art, boasting an impressive total sales figure of over US$300 million, with artists earning a substantial US$180 million. As a pioneering advocate for perpetual artist royalties, SuperRare is dedicated to enhancing discovery while decentralizing the art market. At the heart of SuperRare lies $RARE, a multifaceted token that serves as a currency on the platform, fuels a staking-based reputation system, and grants DAO governance rights.
SuperRare is governed by $RARE token holders through RareDAO, which operates atop the Rare Protocol ecosystem. This ecosystem is dedicated to unifying the currently fragmented NFT landscape, thereby supercharging the industry’s capacity to revolutionize the economics of human creativity through innovative on-chain solutions.
The Visionaries Behind SuperRare: Meet the Founders
SuperRare operates as a decentralized autonomous organization (DAO), eschewing traditional executive leadership. Instead, a seven-member governance council oversees the Community Treasury, wielding control through a 4-of-7 multi-signature wallet.
The inaugural signatories of the Governance Council comprise:
John Crain, CEO and Co-Founder of SuperRare Labs, shares his insights.
Nick Tomaino, Founding Partner of 1Confirmation
Derek Schloss, Partner at CollabCurrency
Serena Tabacchi, Founder and Curator of the Museum of Contemporary Digital Art (MoCDA)
Simona Pop, Community Strategy Expert at Status
Pindar Van Arman: Visionary Artist and Pioneer at SuperRare
Signers serve as mere executors of decisions ratified through governance, devoid of the authority to unilaterally allocate treasury funds. Their primary responsibility lies in ensuring the safety and security of the underlying assets under the DAO’s purview.
Unveiling the Unparalleled Essence of SuperRare
SuperRare is a meticulously curated NFT marketplace, democratically governed by the collective wisdom of $RARE token holders through the decentralized autonomous organization, RareDAO. The platform is dedicated to decentralizing the art market, thereby fostering a more equitable discovery of on-chain art. Built upon the Rare Protocol ecosystem, which is fueled by $RARE, SuperRare is poised to revolutionize the NFT landscape by pioneering innovative solutions that unify the fragmented market.
What Is the Circulating Supply of SuperRare (RARE) Coins?
The total supply of RARE is capped at 1 billion, with a carefully crafted distribution strategy as outlined below:
- A retroactive airdrop of 150 million RARE will be distributed to the core community of visionary artists and collectors who have been instrumental in bootstrapping SuperRare into the thriving platform it is today, claimable for a 90-day period.
- A Community Treasury comprising 400 million RARE will be established, owned and operated by its holders, with 25% available at launch and the remaining balance vesting linearly over a four-year period.
- In recognition of their pivotal role in developing the SuperRare platform, 255 million RARE will be allocated to the core contributors at SuperRare Labs, subject to a 3-year vesting period with a 6-month cliff.
- A total of 145 million RARE will be allocated to investors who participated in SuperRare’s previous funding rounds, with these tokens subject to a 3-year vesting period and a 12-month cliff.
- Lastly, 50 million RARE will be reserved for strategic partners and future contributors to the SuperRare network, with a minimum vesting period of 6 months upon allocation.
The Security Architecture of the SuperRare Network
RARE is an ERC-20 token built on the Ethereum blockchain, operating under the auspices of a decentralized autonomous organization (DAO) governed by a 4/7 multi-signature wallet.
ERC-20 is the de facto token standard that most newly minted tokens adhere to when launching on the Ethereum blockchain. As one of the most popular blockchain platforms for decentralized autonomous organizations (DAOs), such as SuperRare, Ethereum relies on a proof-of-stake consensus mechanism, which necessitates validators to stake a minimum of 32 Ether. A decentralized network of nodes is responsible for validating transactions and ensuring the integrity of the Ethereum blockchain.
SuperRare Trading: Anticipated Launch Timeline
On August 17, 2021, SuperRare 2.0 embarked on a new era with its highly anticipated launch on UniSwapV3.
Where to Acquire SuperRare (RARE): A Comprehensive Guide
RARE is proudly listed on a plethora of esteemed cryptocurrency exchanges, including Binance, Coinbase, Kraken, Gemini, UniSwapV3, LBank, Gate.io, and many more.
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