RARI

Overview of RARI

Rarible Token, also known as RARI, is a cryptocurrency that was founded in 2020 by Alexander Salnikov and Alexei Falin. As a decentralized exchange, it allows users to create, sell, and buy digital assets using blockchain technology. The RARI token serves a fundamental role within this platform, as it is the network's native currency. RARI is supported by several exchanges, including Binance, Uniswap, Huobi, and Bilaxy, and can be stored using wallets such as Metamask, WalletConnect, and Fortmatic.

Pros and Cons

By diving into a comprehensive analysis of its strengths and weaknesses, It will equip you with the knowledge needed to make informed decisions in this dynamic digital realm.

Pros:

1. Decentralized Exchange: RARI operates on a decentralized platform, which means that the network is distributed across various nodes instead of being housed on a centralized server. This ensures a higher level of security and reduces the risk of central point failure.

2. NFT creation, buying, and selling: RARI offers the ability to create, buy, and sell Non-Fungible Tokens (NFTs). NFTs represent unique digital assets and this capability opens up the potential for new markets and opportunities.

3. Supported by multiple exchanges: Having support from multiple cryptocurrency exchanges enhances RARI's accessibility. Some of the exchanges supporting RARI are Binance, Uniswap, Huobi, and Bilaxy.

4. Integration with various wallets: Users have a choice of storing RARI in various wallets including Metamask, WalletConnect, and Fortmatic. This ensures flexibility and a degree of security for users.

Cons:

1. Relatively new in the market: Since RARI was founded in 2020, it's relatively new within the crypto space. Being new may pose some challenges and risks as it might still be in the process of establishing its reputation and stability.

2. Limited adoption: The adoption of RARI is not very widespread at the moment. This limited adoption can potentially affect liquidity and stability.

3. Cryptocurrency market volatility: Like other cryptocurrencies, RARI is susceptible to the high volatility of the crypto market. Its value can fluctuate drastically in a short time span.

4. Depends on Ethereum network performance: As RARI operates on the Ethereum blockchain network, its performance and transaction speed heavily depend on the performance of the Ethereum network. If the Ethereum network gets congested, it could impact the performance of RARI.

What Makes RARI Unique？

The key innovation of the Rarible Token (RARI) lies in its focus on Non-Fungible Tokens (NFTs) and decentralized exchange. Unlike many other cryptocurrencies, RARI is captured within a platform that allows users not just to transact, but also to create, buy, and sell unique digital assets in the form of NFTs. The ability to represent distinct digital assets with NFTs can unlock new possibilities in digital ownership, which is a perk not widely cohered in the functionality of many cryptocurrencies.

What also sets RARI apart is its governance model. RARI token holders have governance rights, meaning that they have a say in the future development of the Rarible platform. This democratization of influence within its ecosystem promotes an increased level of user engagement compared to some other cryptocurrencies.

However, like many other tokens, RARI also operate on the Ethereum network, having its own risks and dependencies. It is susceptible to common cryptocurrency market risks, includes volatility and potential network congestion on Ethereum, which can affect transaction speed and cost.

Circulation of RARI

RARI is the native token of Rarible, a popular NFT marketplace. RARI tokens were launched in July 2020. The total supply is 25 million RARI tokens. These tokens are minted over 8 years through inflationary mining rewards for users providing liquidity and governance voting. There is no maximum cap on the total supply.The price of RARI has been volatile since launch, with an all-time high of around $30 in early 2021, back down to around $5-10 for much of 2021-2022. Overall, the long-term trend has been upward but with significant volatility.

RARI is used for governance of the Rarible platform. RARI holders can stake their tokens to receive rewards and vote on platform upgrades and weekly governance issues.

In summary, RARI is the volatile governance and rewards token for the Rarible NFT marketplace, with an inflationary supply model distributing tokens over 8 years to users providing value to the ecosystem. The price has fluctuated significantly but trended upward long-term since launch in 2020.

How Does RARI Work？

The Rarible ($RARI) token operates at the heart of the Rarible platform, a creator-centric NFT (Non-Fungible Token) marketplace and issuance platform. Users on Rarible can mint unique digital assets as NFTs, ranging from digital art to in-game items.

The $RARI token serves multiple purposes within this ecosystem. Firstly, it acts as a reward mechanism, incentivizing active user participation and engagement on the platform. Users can earn $RARI by creating, buying, or selling NFTs. Secondly, it plays a pivotal role in the decentralized governance of the platform. Token holders can use their $RARI to participate in decision-making processes, influencing the direction and policies of the Rarible protocol.

In essence, $RARI not only facilitates transactions but also empowers its community, ensuring that the platform remains community-driven and responsive to its users' needs.

Exchanges to Buy RARI

These are some of the exchanges that have supported the trading of RARI Token:

1. Binance: A leading global cryptocurrency exchange that often supports RARI / BNB, RARI / BTC, RARI / BUSD, RARI / USDT pairings.

2. Uniswap: This popular decentralized exchange primarily supports the RARI / ETH pair given its Ethereum network basis.

3. Huobi Global: Known for being a secure digital currency exchange, Huobi Global typically supports trading pairs such as RARI / BTC and RARI / USDT.

4. Bilaxy: A multi-cryptocurrency exchange that often includes trades with pairs like RARI / ETH or RARI / USDT.

5. Bittrex Global: Generally supports trading pairs such as RARI / BTC, RARI / ETH, and RARI / USD.

6. FTX: On FTX, an exchange renowned for futures and leveraged tokens, you'll usually find RARI pairs with BTC and USD.

7. Poloniex: On this exchange, you often can trade RARI with BTC and USDT.

8. CoinEx: Here, trading pairs often include RARI / USDT.

9. Balancer: As an automated portfolio manager and liquidity provider, Balancer typically supports various RARI trading pairs.

10. Sushiswap: This decentralized exchange is known to support RARI / ETH trades due to its integration with the Ethereum network.

How to Store RARI？

Storing Rarible Tokens (RARI) involves transferring them to a compatible digital wallet. You should ensure you are using a wallet that supports Ethereum-based tokens (ERC-20) as RARI is built on the Ethereum blockchain. Here are some of the wallets that you can use to store RARI tokens:

1. Metamask: A popular Ethereum wallet that can be added as an extension in web browsers like Chrome and Firefox. It also has a mobile app version for iOS and Android. Metamask allows you to securely store and manage your Ethereum and all ERC-20 tokens including RARI.

2. WalletConnect: An open-source protocol for connecting decentralized applications (DApps) to mobile wallets using end-to-end encryption. It lets you use desktop DApps with your mobile wallet, which could include RARI holdings.

3. Fortmatic: Fortmatic is a wallet solution that aims to make it easy for users to interact with Ethereum DApps without needing to download extensions or applications. Fortmatic enables you to store your ERC-20 tokens, including RARI, with just a few clicks.

4. Ledger: A hardware wallet that offers one of the most secure ways to store your cryptocurrencies offline. Using the Ledger Live application, you can manage your RARI tokens on your Ledger device.

5. MyEtherWallet (MEW): This is a free, client-side interface that allows you to interact with the Ethereum blockchain. You can create a new Ethereum wallet on MEW to store your RARI tokens.

6. Trust Wallet: A secure mobile wallet that supports a wide range of cryptocurrencies and digital assets including Ethereum and ERC-20 tokens. It's a good option for storing RARI on a mobile device.

Should You Buy RARI？

As the primary token for the Rarible platform, RARI may be suitable for individuals who have a specific interest in the Non-Fungible Tokens (NFTs) market or decentralized exchanges more broadly. In addition, those interested in participating in platform governance activities, which involve voting on proposed changes to the Rarible platform, might also find owning RARI to be of value.

Conclusion

Rarible Token (RARI) is a noteworthy player in the field of decentralized exchanges, particularly in the booming Non-Fungible Tokens (NFTs) market. Since its founding in 2020, it has laid the groundwork for users to interact, create, buy, and sell unique digital assets, contributing to a democratized digital ownership model. Being backed by the Ethereum blockchain, RARI faces the same challenges as other ERC-20 tokens, including network congestion and transaction costs. However, it may also benefit from upgrades in Ethereum network.

In terms of development prospects, with NFTs becoming increasingly popular, platforms like Rarible that enable the creation and exchange of these unique digital assets are likely to see growth. Furthermore, token holders being granted governance rights within Raribles ecosystem adds another layer of engagement that could drive wider adoption of RARI.

Regarding profitability, it is crucial to underline that investing in any cryptocurrency, including RARI, involves a certain level of risk due to the inherent volatility of the market. While certain factors such as the growing popularity of NFTs and decentralized exchanges can lead to the appreciation of RARI, market conditions, regulatory news, and broader economic factors can also lead to significant fluctuations in price. Potential investors should carefully consider these aspects and conduct in-depth research before making any investment decisions. As with any investment, there is no guarantee of making money and the value of investments can go down as well as up.

FAQs

Q: What is $RARI？

A: $RARI is the official token ticker of the ERC-20 token that governs the Rarible Protocol ecosystem.

Q: Can I claim $RARI without buying it？

A: You can receive $RARI via an airdrop for listing or bidding during an incentives program, and certain past traders on Rarible may be eligible based on program rules.

Q: How can I see if I own any $RARI？

A: Connect your Ethereum wallet to Rarible.com or rari.foundation and view your balances by clicking on your profile picture.

Q: How long do I have to claim my $RARI？

A: There is no set timeline for closing the $RARI claim currently.

Q: What can I do with my $RARI？

A: $RARI token holders can lock their tokens to receive veRARI, enabling them to submit and vote on Rarible Protocol proposals.

Q: What is veRARI？

A: veRARI, or vote-escrowed $RARI, is locked $RARI that correlates to voting power within the RARI Foundation.

Q: Where is $RARI available for trading？

A: $RARI is traded on centralized exchanges like Coinbase and Kraken, as well as decentralized exchanges like Uniswap.

Q: Where can I ask questions about $RARI and the rewards program？

A: The RARI Foundation Discord server is the best place for inquiries, and they also host bi-weekly community calls.

Risk Warning

Investing in cryptocurrencies requires an understanding of potential risks, including unstable prices, security threats, and regulatory shifts. Thorough research and professional guidance are advised for any such investment activities, recognizing these mentioned risks are just part of a wider risk environment.