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The RARA Token bears three roles within the RARA platform:
- 1.Governance token: The core function of the RARA Token is to be the governance mechanism for RARA itself. The token is intended to align incentives between various stakeholders within the ecosystem to promote sustainable growth and fair governance.
- 2.Payment &Fee: RARA Token also serves as the medium for transactions. Such scenarios include using RARA as a payment method or paying fees for using RARA. Users can purchase mystery boxes using RARA token while buy and sell on RARA Marketplace and pay the transaction fee in RARA token.
- 3.Incentives: To bootstrap RARA liquidity, mystery box market and marketplace, mining pools and farm are provided to liquidity providers and mystery box owners.
RARA is a Fair Launch Project, which means it has no initial storage or distribution of its token float, and instead conducts an emission of 48 RARA per block, open to everyone at the same time. RARA has no max cap and operates on a fully inflationary and burning model. Beginning at 48 RARA per block, the total per-block distribution of RARA may be halved over time depending on the casting vote results of the DAO’s governance.
Holding RARA gives the token holder the ability to cast votes proportional to the amount of RARA they hold, and to earn a profit share when specific NFT mystery boxes are purchased by other RARA holders on the site.
To begin, 48 RARA tokens will be minted per block, with 12 distributed to the Mining Pool and 8 distributed to the System Pool. In addition to token minted, there will be a variable amount of token burned on each block, starting at 28 RARA tokens burned. Changes to the amount of token minted, burned, and allocated to the Pools may change in the future depending on the voting results of Governance Bills, so as to add flexibility to the tokenomics of the platform.
Liquidity mining can be done in two ways. Users can pledge BNB-RARA mining, or pledge VIDYX-RARA mining. The distribution ratio of RARA available to the two mining pools is as follows：5% of the 12 RARA is allocated to the RARA-BNB pool, and 95% is allocated to the RARA-VIDYX pool.