The RARA platform is controlled by a DAO that votes by community to decide on various operational improvements, additions, and modifications to the platform. Each month, the RARA platform will have a voting period for new governance proposals. RARA governance is running on a quadratic voting mechanism where RARA token holding is not directly translated into voting power. Members of the DAO community derive their voting power via staking RARA token to mint vRARA voting tokens at a ratio of 1:1.
Each community member will have a membership level which is determined by vRARA holding. There are three membership levels: Gold, Silver, and Bronze. Each will its own membership benefits including trading discount, governance rights, and a farming multiplier for Mystery Box Farm hash power.
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.
To acquire vRARA, a user has to stake his RARA token at a ratio of 1:1.
Through holding vRARA, each governance community member will have a membership level. The qualification requirement of vRARA holding is as follows:
vRARA Staking Requirement*
*vRARA balance will be snapshot every day at 0:00 UTC
By holding vRARA and maintaining a membership level, you will enjoy the following benefits:
Platform trading transaction fees discount
holding a vote
Farm hash power multiplier
**multiplier means that your hash power in mystery box farm is multiplied by the corresponding multiplier so your share in the Farm will increase accordingly.