{"id":10555,"date":"2021-07-04T07:23:47","date_gmt":"2021-07-04T04:23:47","guid":{"rendered":"https:\/\/esatoshi.club\/?p=10555"},"modified":"2021-07-04T07:23:49","modified_gmt":"2021-07-04T04:23:49","slug":"rara-x-satoshi-club-ama-recap-from-2nd-of-july","status":"publish","type":"post","link":"https:\/\/satoshi-club.esipick.com\/index.php\/2021\/07\/04\/rara-x-satoshi-club-ama-recap-from-2nd-of-july\/","title":{"rendered":"RARA x Satoshi Club AMA Recap from 2nd of July"},"content":{"rendered":"\n

Welcome to another episode of our AMA\nseries. Today we are glad to tell you about the AMA session with our friends\nfrom RARA<\/a>, the NFT value\ndiscovery system where amazing NFTs go viral and get discovered. The AMA took place on July 2 and our guests\nwas Raina, a global ambassador and community leader of RARA.<\/p>\n\n\n\n

The total reward pool was 500$ and was\ndivided into three parts. In this AMA Recap we will try to summarize some of\nthe most interesting points for you.<\/p>\n\n\n\n

\n\n\n\n

PART 1, INTRODUCTION AND COMMUNITY\nQUESTIONS<\/strong><\/p>\n\n\n\n

Gold Rocket | Satoshi\nClub: <\/strong>Hello, dear Satoshi Club community! We are pleased to announce AMA\nwith RARA.<\/p>\n\n\n\n

Andres M. | Satoshi\nClub:  <\/strong>@Raina_RARA welcome to Satoshi\nClub, we are glad to have you here!<\/p>\n\n\n\n

Raina: <\/strong>Hello\neveryone.Excited to be here with\nSatoshi Club community.<\/p>\n\n\n\n

Gold Rocket | Satoshi\nClub: <\/strong>Let’s start! Introduce yourself please. How did you get to be\ninvolved in crypto & RARA? Tell us please about your position in RARA?<\/p>\n\n\n\n

Raina: <\/strong>Sure.  I am Raina, a global ambassador and community\nleader of RARA. I\u2019ve been in the crypto industry for many years. I used to be\nan angel investor and global ambassador for many projects. And then I found\nRARA, a great NFT value discovery platform.<\/p>\n\n\n\n

In RARA project, I am responsible for the explanation and\npromotion of RARA to let more people know and understand the characteristics\nand potential of RARA.<\/p>\n\n\n\n

Gold Rocket | Satoshi\nClub: <\/strong>What is the essence of RARA?<\/p>\n\n\n\n

Raina: <\/strong>RARA is\nthe NFT value discovery system where amazing NFTs go viral and get discovered.\nThrough the combination of gamified mystery box mechanism and expansive NFT\nmarketplace, we usher in a brand new era for NFT fans.<\/p>\n\n\n\n

Andres M. | Satoshi\nClub:  <\/strong>What is the meaning of RARA?<\/p>\n\n\n\n

Raina: <\/strong>RARA is\nLatin for \u201crare\u201d, a fitting moniker for a token that serves as the global\ngateway to discover the most creative, luxurious, and valuable NFTs, while the\nRARA token, which powers RARA, serves as the primary means of unlocking unique\nNFT creations through Mystery boxes, and the main token accepted on the largest\nNFT marketplaces for paying for rare artistic items via deep discounts.<\/p>\n\n\n\n

Gold Rocket | Satoshi\nClub: <\/strong> Tell us about the benefits of\nRARA. How is it different from others?<\/p>\n\n\n\n

Raina: <\/strong>Sure. I\nwould like to list those features of RARA:<\/p>\n\n\n\n

The first one is that RARA is the NFT + DeFi Game-changer: RARA\nmerges DeFi with the game oriented mystery box NFTs to realize staking and\nyield mining.<\/p>\n\n\n\n

2nd is RARA is a 100% fair launch project. There is no team\nreservation, no pre-mining, fair launch to everyone at the same time.<\/p>\n\n\n\n

3rd<\/sup>, RARA has a large number of IP resources,\nincluding games, AV stars and arts, all of which are the top IPs in various\nfields.<\/strong><\/p>\n\n\n\n

4th<\/sup>, RARA has the most scientific NFT valuation system:\nThe most advanced oracle algorithm is used to estimate the value of NFT to\nensure its market value.<\/p>\n\n\n\n

5th<\/sup>, innovative high-yield game rules Gamified\nNFT mystery box, low threshold, new and diversified income.<\/p>\n\n\n\n

6th<\/sup>, Unique NFT social circle and social economy,\nIP creators, fans and liquidity providers are bundled to increase the\ninteraction and strengthen the value consensus of NFTs.<\/p>\n\n\n\n

7th<\/sup>, a truly decentralized NFT trading platform\nwith RARA DAO. The community has the most governance power, from putting NFT online\nto setting the rules of the mystery box game, the valuation of NFT, and the\ngovernance mechanism. RARA DAO member can get the discount of transaction fees\nand higher mining reward.<\/p>\n\n\n\n

Q1 from Telegram User\n@yellowchamp<\/strong><\/p>\n\n\n\n

As your mission is to\nbring the world\u2019s best artists, brands, and IP\u2019s to the largest global audience\nof buyers. For my own opinion to achieve your mission you need a heavy\nmarketing strategy to be able to reach the global market and audiences, so what\nadvertising and marketing techniques you are going to engage to be able to\nreach audiences globally? Do you plan to integrate with some bigger platforms\nlike in TV or YouTube to reach more audiences? To acquire best artist and brands,\nyou really need a big fund to do it, so as a new platform in the market how\nwill Rara provide funds to acquire some bigger artist and brands? How will your\nplatform deal with them? Thank you.<\/em><\/p>\n\n\n\n

Raina: <\/strong>Actually\nRARA has exclusive partnered with some finest IP owners, and leading\nentertainment & media groups which share the same strong interest in\nexploring the booming NFT and metaverse space. Let me show you an example, RARA\nrecently reached a strategic partnership with VIDYX. VIDYX is a project\nincubated by VIDY a famous blockchain technology advertising company in Singapore.<\/p>\n\n\n\n

VIDYX can be regarded as a subsidiary of Vidy which has over\n150 million users and partnerships with more than 75 leading media, publishers\nand companies from all sorts of fields, including VOGUE, Lanc\u00f4me, Binance, and\nsubsidiaries of Singapore Press Holdings (SPH), such as AsiaOne, Esquire, Robb\nReport, Buro247, The Peak Magazine, CNN, CNBC, SindoNews, Okezone, Harper\u2019s\nBazaar, Women\u2019s Weekly, L\u2019Officiel, Mothership, AsiaOne among many others (See\nwebsite www.vidy.com<\/a>  for full list). Backed by its parent company\nVidy, VIDYX enjoys abundant IP resources, technology development, etc.<\/p>\n\n\n\n

Through the partnership, RARA can obtain a large number of\nIP resources, and through these IP resources, RARA can quickly obtain more user\nto the platform.<\/p>\n\n\n\n

Andres M. | Satoshi\nClub: <\/strong>Do you have more current partnerships?<\/p>\n\n\n\n

Raina: <\/strong>Yeah. More\npartnerships are on the way.<\/p>\n\n\n\n

Andres M. | Satoshi\nClub: <\/strong>Congratulations, that’s the way to build a big ecosystem.<\/p>\n\n\n\n

Raina: <\/strong>Actually\nour platform has not officially launched.But the launch date will be very soon.<\/p>\n\n\n\n

Q2 from Telegram User\n@victorogb<\/strong><\/p>\n\n\n\n

The RARA economic\nmodel is built around three core modules which are; Mystery Box Mechanism, RARA\nMarketplace and RARA tokenomics. These modules play a critical role in shaping\nall activities carried out on RARA platform. Within these modules is the unique\nNFT valuation system, the RARA gamification series (mystery boxes), the RARA\ntoken utilises, buy back and burn mechanisms. With direct emphasis on the RARA buy\nback and burn mechanisms, how is the full inflationary feature adopted by RARA,\neffectively incorporated within its core economic modules, and with RARA mining\npools, what are the processes and available pools?<\/em><\/p>\n\n\n\n

Raina:<\/strong> Firstly, I\nwould like to explain RARA economic mode. <\/p>\n\n\n\n

RARA, as an NFT platform, provides IP creators with a\nplatform to create NFT and native NFT trading assets. NFTs generated by IP\ncreators are priced and traded through RARA token. At the same time, IP\ncreators publish their own NFTs through social platforms to attract more users\nto trade their own NFTs on RARA platform. After all, some of the benefits of\nthese NFTs in the future trading process will be fed back to IP creators. In\nother words, the more frequent NFT transactions generated by IP creators, the\nhigher their returns, the more liquidity providers the market needs.<\/p>\n\n\n\n

With the development of IP creators and gamified mystery\nboxes, more and more liquidity will be needed in RARA marketplace, and\nliquidity providers can also get more income. The output of new RARA tokens\nwill stimulate new mystery box output and NFT trading, and the benefits\ngenerated by these exchanges will be fed back to each role of RARA platform. At\nthe same time, the NFT valuation system on RARA platform will provide all\nusers, including NFT pledgers, with a reasonable NFT secondary market\ntransaction price for reference, so as to protect new users\u2019 judgment standard\nof NFT assets.<\/p>\n\n\n\n

For more info about buyback and burn, you can refer to this\narticle: https:\/\/medium.com\/@RARA_NFT\/raras-economic-model-d57b21401c69?source=social.tw<\/a>\n<\/p>\n\n\n\n

Andres M. | Satoshi\nClub: <\/strong>Where we can buy RARA tokens and what are its usecases?<\/p>\n\n\n\n

Raina: <\/strong>For now,\nRARA token has been launched yet. But after the platform be online, you can\nmine RARA token through mining on RARA platform.<\/p>\n\n\n\n

Gold Rocket | Satoshi\nClub: <\/strong>What are the benefits for hodlers?<\/p>\n\n\n\n

Raina: <\/strong>For RARA\nholders, voting power will be given in the platform\u2019s DAO. And of course, the\nholders can also enjoy the price increasing.<\/p>\n\n\n\n

Andres M. | Satoshi\nClub: <\/strong>Will be there miner pools?<\/p>\n\n\n\n

Raina: <\/strong>Yes. Of\ncourse. For this part, we will release more info very soon. Pls pay attention\non our announcement channels<\/p>\n\n\n\n

Q3 from Telegram User\n@Jonahapagu<\/strong><\/p>\n\n\n\n

RARA\u2019s DAO module\nwhich allows users to make proposals, vote, and enjoy membership benefits, is\nsaid to employ quadratic voting to prevent whale dominance and ensure an\nongoing democracy among your community… so how does RARA implement quadratic\nvoting in its DAO module, is this done in partnership with any voting platform\nor is this an in-house implementation, and what other significance will the\nimplementation of Quadratic voting bring to your DAO module when compared with\nother models.<\/em><\/p>\n\n\n\n

Raina: <\/strong>In fact,\nwe have not completely determined this issue. We have been studying the logic\nof Quadratic Voting. The more possible direction is that we will add our new\ndesign to the original voting platform and then use it for RARA.<\/p>\n\n\n\n

Andres M. | Satoshi\nClub: <\/strong>Btw, could you share us the roadmap of the project? What’s the\ngreatest event coming for RARA?<\/p>\n\n\n\n

Raina: <\/strong>Sure.Firstly, we will launch the mining\nmode of DeFi + NFT while the platform is online. RARA amalgamates DeFi with\ngamified Mystery Box NFT by allowing staking and yield farming. Farms and\nstaking pools will be provided to mystery box owners to stake and earn so early\nparticipants are attracted at no cost to the platform.<\/p>\n\n\n\n

And RARA will build the world\u2019s first decentralized\nmarketplace for Mystery Boxes, allowing for both the trading of dropped\ntreasures and of IP NFTs inside unlocked boxes, as well as potentially the\ntrading of unopened mystery boxes in the future.<\/p>\n\n\n\n

And of course, we will release some IP NFTs, including games,\nAV stars and arts, all of which are the top IPs in various fields.<\/p>\n\n\n\n

Q4 from Telegram User\n@Jmagsss<\/strong><\/p>\n\n\n\n

I can see that in your\nplatform, you plan to stake NFT exchange of rewards. How would you calculate\nthe hash power of each NFT and the amount of RARA token rewards to the NFT\nholders? Will it be based on rarity and quantity?<\/em><\/p>\n\n\n\n

Raina: <\/strong>Yes. It\nwill be based on Rarity and Quantity. There are two types of mystery boxes that\nexist on the RARA platform – IP Boxes and System Boxes. System Boxes is for NFT\nstaking. Each System Box unlocks either a rare pet (Zebra, Shibu, or Possum) or\na food item (Zebra Flower, Shiba Rice, Possum Fruit) to collect in bulk in\norder to attract a rare pet.<\/p>\n\n\n\n

Once a user has a rare pet NFT in their possession, they\nhave the option to stake their NFT and earn more RARA per block as they now get\na proportional piece of the System Farm token emission. Each system box NFT has\nits corresponding hash power by which the System Farm would calculate the\nreward share. And the specific data will come out after the NFT staking goes\nonline.<\/p>\n\n\n\n

Andres M. | Satoshi\nClub: <\/strong>Do you have some designs of those NFT to share us?<\/p>\n\n\n\n

Raina: <\/strong>This is\none of our system NFT box.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Q5 from Telegram User\n@luk4jah<\/strong><\/p>\n\n\n\n

HI RARA<\/em><\/p>\n\n\n\n

In the System Box\nRarity System each system unlocks either a pet or food item to collect them in\nbulk in order to attract rare pet. Will users have to stake their NFT to unlock\nthese boxes to earn more $RARA? What corresponding hash power does the system\nhave? Can you please give us a sneak peak of those rare pets and tell us how\nthis system works as regards to the rare pet and food that are used to attract\nthose pets and what will be the percentage of a user that unlocks each system\nboxes.<\/em><\/p>\n\n\n\n

Raina: <\/strong>Because\nRARA platform has not launched yet, and the NFT mining has not started, so I am\nafraid that I cannot tell you the specific peak or percentage. But the system\nBoxes are also a kind of mystery boxes. They are needed to buy through RARA\ntoken. And to obtain RARA token, you need stake the LP token of a pair tokens.\nMore details will be released after RARA goes online.<\/p>\n\n\n\n

Q6 from Telegram User\n@emidm28<\/strong><\/p>\n\n\n\n

A few days ago the\nFirst Class of RARA Cram School was held. How often will these classes be held?\nAre these classes open to all users in the community? Can we participate in as\nmany classes as we want or are there limited seats?<\/em><\/p>\n\n\n\n

Raina: <\/strong>In order\nto help the community, understand RARA more quickly, we have a RARA NFT School\nclass in the community every Thursday. Every time the questions will be\ncollected and selected from Twitter and community, please continue to pay\nattention to our Twitter announcement.<\/p>\n\n\n\n

Andres M. | Satoshi\nClub: <\/strong>That’s great, and do you have the ambassadors program yet?<\/p>\n\n\n\n

Raina: <\/strong>Here is\nthe recap for 2nd class https:\/\/medium.com\/@RARA_NFT\/recap-the-2nd-class-of-rara-nft-school-846f480c0681<\/a><\/p>\n\n\n\n

Wow, we just published it 2 hours ago. https:\/\/twitter.com\/RARA_NFT\/status\/1410988604655083530<\/a>\n<\/p>\n\n\n\n

Andres M. | Satoshi\nClub: <\/strong>Great idea, knowledge is the key.<\/p>\n\n\n\n

Excellent news. Satoshiclubbers let’s join, big rewards for\nyou.<\/p>\n\n\n\n

\n\n\n\n

PART 2, TELEGRAM COMMUNITY LIVE\nQUESTIONS<\/strong><\/p>\n\n\n\n

The chat was open for 120 seconds; a\nlot of questions were posted by Satoshi Club community. Our guest chose some of\nthem.<\/p>\n\n\n\n

Q1 from Telegram user @beerskit<\/strong><\/p>\n\n\n\n

Today I read the news about Ethereum exceeded the Bitcoin today as\nwallets. Is it 100% certain that you will launch RARA with BSC blockchain? Any\nplans for Ethereum?<\/em><\/p>\n\n\n\n

Raina: <\/strong>Yeah. The\ngas fee is always a painpoint of Ethereum network. And we also considered this\npoint, so we deployed our platform to BSC network. And here we have more space\nto develop our ecology.<\/p>\n\n\n\n

Q2 from Telegram user\n@zhonmacro<\/strong><\/p>\n\n\n\n

Which do you think is\nmore important: <\/em><\/p>\n\n\n\n

1. Community. 2. Investors. 3. Token Price.<\/em> If all of the above is important to you which should come first?<\/em><\/p>\n\n\n\n

Raina: <\/strong>We do\nthink that the community is the most important for us. RARA aims to make a\ntruly decentralized NFT trading platform with RARA DAO. <\/p>\n\n\n\n

The community of RARA has the most governance power, from\nputting NFT online to setting the rules of the mystery box game, the valuation\nof NFT, and the governance mechanism. RARA DAO member can get the discount of\ntransaction fees and higher mining reward.<\/p>\n\n\n\n

Q3 from Telegram user\n@nadee5<\/strong><\/p>\n\n\n\n

RARA token and vRARA token.\nWhy are there two different tokens and what are the use cases of these tokens? What\nare the benefits of holding these tokens?<\/em><\/p>\n\n\n\n

Raina: <\/strong>RARA token\nis the platform token. It bears three roles within the RARA platform:<\/p>\n\n\n\n

Governance token: The core function of the RARA Token is to\nbe the governance mechanism for RARA itself. The token is intended to align\nincentives between various stakeholders within the ecosystem to promote\nsustainable growth and fair governance. <\/p>\n\n\n\n

Payment &Fee: RARA Token also serves as the medium for\ntransactions. Such scenarios include using RARA as a payment method or paying\nfees for using RARA. Users can purchase mystery boxes using RARA token while\nbuy and sell on RARA Marketplace and pay the transaction fee in RARA token.<\/p>\n\n\n\n

Incentives: To bootstrap RARA liquidity, mystery box market\nand marketplace, mining pools and farm are provided to liquidity providers and\nmystery box owners.<\/p>\n\n\n\n

And vRARA token is the one only for RARA DAO system. That\nmeans vRARA is the voting token of RARA which is non-tradable but gives a user\nthe voting power on governance proposals. Each vRARA will count as one vote\ntowards a proposal. It also determines one’s membership level and thus\ndetermine the benefits he\/she enjoys<\/p>\n\n\n\n

Q4 from Telegram user\n@cockroachesgaing<\/strong><\/p>\n\n\n\n

As you know, RARA and\nVIDYX are establishing a strategic partnership in which both sides will acquire\ntheir respective strengths and share resources to highlight NFT values. Now my\nquestion Is, how will this partnership benefit both platforms? And how long can\nthis partnership last? And Can you share more information about the\npartnership?<\/em><\/p>\n\n\n\n

Raina: <\/strong>Through\nthis partnership, RARA and VIDYX will jointly develop more quality IPs and find\nmore creators. By giving full play of the NFT platform and solution provided by\nRARA, the two parties will promote the prosperity of content economy and\ncreation economy.<\/p>\n\n\n\n

Q5 from Telegram user\n@highpee<\/strong><\/p>\n\n\n\n

RARA has a lot of\ngreat features but I can’t find your OFFICIAL WEBSITE. Does it mean that you don’t\nhave a website or am I the one who is not searching rightly? Kindly help me\nwith this and other repository that I can use to get to get enough info about\nwhat RARA has to offer.<\/em><\/p>\n\n\n\n

Raina: <\/strong>Sorry for\nyour inconvenience. Cuz our platform has not launched yet, so we did not show\nthe website to people. But I think I can share a little of our web to you\nSatoshiClubbers, for thanking for your hospitality.<\/p>\n\n\n\n

Q6 from Telegram user\n@obulin<\/strong><\/p>\n\n\n\n

Wish you a great\nsuccess in your project<\/em>.<\/em><\/p>\n\n\n\n

Few hours before, I\nsaw a recent announcement in RARA twitter about RARA global ambassador program\n– RARA guardian angels. Big rewards $10000. Who can apply for this RARA\nguardian and is this similar to moderating the community?<\/em><\/p>\n\n\n\n

Raina: <\/strong>Yeah.\nThanks for your attention. Our global ambassador, we named as RARA Guardian\nAngels, are kind of partners, not only for moderating community. They should\ncontribute to: <\/p>\n\n\n\n