Rari Governance Token
Crypto Overview
Project Overview
Rari Governance Token (RGT) is the governance token of Rari Capital, a DeFi protocol that originally focused on yield optimization but later pivoted to become part of the Tribe DAO ecosystem. The token was designed to give holders voting rights over protocol parameters and treasury management.
Intended Utility
RGT was created to serve as a governance mechanism for the Rari Capital protocol, allowing token holders to participate in decision-making regarding protocol upgrades, parameter adjustments, and treasury allocation. The token also provided holders with a share of protocol revenues.
Current Status
As of 2023, Rari Capital has effectively ceased operations following the Tribe DAO shutdown and a major hack in April 2022 that resulted in an $80 million loss. The protocol's lending markets have been closed, and the token's utility has been severely diminished.
Token Distribution
Initial token distribution included team allocations with vesting periods, but following the protocol's effective shutdown, these details have become largely irrelevant. Trading volumes have become minimal, and the token's practical utility is now extremely limited.
Development Activity
Development activity has essentially stopped since the protocol's shutdown. The GitHub repositories show no significant updates, and the team has moved on to other projects.
Crypto Impact
To assign a comfort level investing in Rari Governance Token from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Rari Governance Token.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
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Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
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