Have you ever used Rarible?
If youâve been using the Rarible marketplace to buy, sell, and create NFTs, then you need to claim your RARI tokens.
RARI is an Ethereum-based token and is used to reward users of the Rarible marketplace, as well as enabling holders to create proposals and vote on proposals to shape the future direction of the product.
Every Monday, 75,000 RARI tokens are distributed to wallets that have been active on the marketplace during the previous seven days. These are split 50:50 in terms of sellers and buyers.
In order to check if you can claim anything, you need to log into the Rarible website, connecting with the Ethereum wallet with which you use to trade.
Then click on the âGovernanceâ option on the toolbar in the top right corner, selecting â$RARI Tokenâ from the drop down.
This will immediately tell you if you have any unclaimed RARI tokens from previous weekly distributions.
If so, in order to claim your tokens, you will have to pay for the gas fee on that transaction, so be careful to make sure the cost of the transaction isnât more than the value of the tokens youâre claiming.
You can check the RARI token price on sites such as Coingecko. The gas price will be highlighted in your Ethereum wallet prior to you approving the transaction.
Of course, if youâre regularly using Rarible, it makes sense not to claim tokens every week, but wait until youâve accumulated a larger amount.
Once youâve claimed your tokens, you can keep them in your wallet and vote on future proposals, or sell them via exchanges such as Uniswap.
