SuperRare DAO Funds Ongoing Network Engagement Rewards Proposal (SIP 6011) Succeeds

The SuperRare DAO has successfully passed proposal SIP 6011, titled "Fund Ongoing Network Engagement Rewards (SIP 6011)", according to an off-chain vote that concluded 6 hours ago on July 27, 2023. The proposal aims to allocate around 60.60 million RARE tokens to fund network participation incentive programs that will reward active users of SuperRare.

The proposal was submitted by 0x72c34f63552be29779, an official core team member of SuperRare. It had the support of sponsors Pindar Van Arman and John Crain. The proposal went through a preliminary discussion period with neutral sentiment before being put to an off-chain vote on the Snapshot platform.

The vote saw 6.01 million Yes votes, accounting for 100% of the votes, compared to just 1.70 No votes. There were a total of 29 voters participating in the vote.

The proposal aims to stimulate market activity and broaden token distribution during the ongoing bear market. The RARE tokens will come from a combination of the community treasury and unclaimed tokens from a previous airdrop.

The funds will be used by the RareDAO Governance Council to design and implement rewards programs for active users of SuperRare and potentially its staking protocol if adopted. SuperRare Labs and the RareDAO Foundation will provide guidance on the rollout of these programs.

With the proposal now passed, the Governance Council will oversee the allocation of 60.60 million RARE tokens to fund rewards programs as needed, subject to their authorization. This is seen as a way to incentivize and reward loyal users of SuperRare's marketplace and drive further engagement.