Background

As an implementation of SIP | Fund Ongoing Network Engagement Rewards, SupeRare Labs proposes the following distribution of tokens upon launch of Rare Staking Protocol, if the SIP to deploy it to mainnet is successful.

The distribution allocates ~28 million tokens to community members who have meaningfully interacted with the SuperRare marketplace and/or Rare Protocol between from the end of the last airdrop eligibility window up to the first of this month (2021-07-22 through 2023-07-31). Exact criteria are provided in the specification section.

The distribution functionality will be enabled by a merkle root smart contract contract, which stores the root of a merkle tree with all the balances. Only people that are included in the tree can claim, and they can only claim once.

Specification

The full distribution details can be found here. The total amount to be distributed is 28,308,254.25 RARE. The following principles were used to guide development of the model.

Eligibility

• Cutoff dates: 2021-07-21 / 2023-07-31
• All users who have purchased, or sold, or minted on SR
• All users who have bid or offered on SR
• All users who have voted on a DAO sip, or in a space race.
• All users who have participated in the staking alpha on Goerli.

Distribution

• 25,000,000 RARE distributed by percent of total buy and sell volume on marketplace.
• Capped at 250,000 RARE per user
• Minimum of 420 RARE per user
• Anyone with non-volume based eligibility gets 420 RARE
• Non-cumulative. You don't get multiples of 420 for each criteria you are eligible for.

Addresses for any users who have previously officially informed SuperRare of a wallet hack had their claimable allocation from before the incident allocated to the new wallet they requested their SuperRare account point to after the hack.