Rare Protocol Weekly Update: Oct 6
Rewards have started flowing; here's how they work, and how to claim them
Rare Protocol is rewiring curation, discovery, and reputation on the internet. It’s a great vision for the future, but what does it mean for users right now?
For one, Claimable Rewards have started to land in the wallets of stakers. It’s been just over a month since Curation Staking launched, and, so far, 176 sales have generated rewards on Rare Protocol (more on this below). For another, people have begun to leverage their Community Pools to gate Telegram channels and Discord servers.
With the help of early adopters, the landscape of Rare Protocol is beginning to take shape. Reputation and data signals are growing, artists and collectors are developing creative new use cases, and the Rare Protocol team is working to ship new functionality and integrations for the app.
Let’s dive in.
Building in the Open
Web3 moves fast, but Rare Protocol moves faster. With the team up, running, and firing on all cylinders, we’ve set out a plan of action for the chapter ahead. Our focus will encompass making quick iterations and improvements to ensure that users find the Curation Staking app more compelling and easy to use.
We want to talk to you, the early adopters – those of you blazing new paths across the frontier of curation. We want to hear your feedback to understand how we can make Curation Staking useful and fun, and build Rare Protocol into an ecosystem so compelling and diverse that you can’t help but tell your friends. Is there a new feature or improvement you’d like to see in our product? Let us know.
Community Callouts
Artwork by Paper Buddha as pictured on the Curation Staking app
Paper Buddha was one of the first artists to use Curation Staking to gate a Telegram chat for their community of supporters. They are joining us next week on Rare Radio to discuss their creative use of the Curation Staking app as well as how to turn passive followers into die hard supporters.
untitled, xyz is an artist and visual architect that has been busy staking, with over 116,000 $RARE locked in 26 different Community Pools. Check out their growing Curated List here.
Matt Kane’s recent Rare Pass release stirred up a flurry of conversation amongst community members, artists, and collectors on social media. His Community Pool has since begun to rank as a trending pool on Radar.
Zaphodok shared their strategy for Curation Staking, citing that staking, “pays tribute to the early artists and collectors, to individuals I am familiar with”
How Do $RARE Rewards Work?
Rewards are a perk for signaling your support of someone. By staking in their Community Pool, you can share in their success each time they sell artworks on a compatible marketplace. Say someone makes a sale on SuperRare through an address with a Community Pool, a portion of marketplace fees are then diverted to that pool, where they are made claimable for all who staked prior to the reward “round” in which the sale took place.
Rounds are key: they measure participation in a pool over time to determine reward eligibility
You only earn rewards from a sale if you staked in a round prior to that event. This prevents a form of system gamification that could undermine its value, as dipping into pools just to strike on an active auction wouldn’t qualify for a reward.
TL;DR: Rounds help vet for real ride-or-dies and ward off opportunists
Claimable Rewards are proportionate to your ownership in the pool, calculated by how much you staked, and how early. When rewards start to build in a pool, supporters can claim them at the end of their first eligible round, or watch them grow over time.
Remember: Rewards favor earlier stakers for a reason
It’s more meaningful to stake on up-and-comers, creating new pathways of discovery along the way. A rising tide lifts all boats, and RARE Rewards are just one benefit to building a stronger curatorial network. By staking on your favorite artists, collectors, and curators, you’re expressing your belief in their journey, with RARE as a reward for shining that light along the way
Emerging Pools
Ezekielart creates emotive mise-en-scene portraiture that conveys a sense of transference. Thank you Pandaduna for illuminating this work by way of opening their pool and being their first staker. We love finding powerful art pieces when tracing the line between artists and their Pool Owners.
↪ Stake in Ezekielart’s Community Pool
↪ Browse other artists on Pandaduna’s Curated List
Newcolossal is a master world builder, imbuing his own crafted system of material design with clever utilitarianism and an uncanny sense of self. We have untitledxyz_ to thank for surfacing this world with their robust Curated List – along with Newcolossal, they’ve staked on several other skillful artists and curators, making their Curated List a particularly colorful and diverse network to browse.
↪ Stake in Newcolossal’s Community Pool
↪ Browse other artists on untitledxyz’s Curated list
Pool Target: Ezekielart (Curated List, SuperRare, Twitter)
Pool Owner / Pool Creator: Pandagunda ( Curated List, SuperRare, Twitter)
Pool Target: newcolossal (Curated List, SuperRare, Twitter)
Pool Owner / Pool Creator: untitledxyz_ (Curated List, SuperRare, Twitter)
Prepared by Emma Johnson & Lauren Lankford