What is Rari Capital?
Rari Capital is a decentralized finance (DeFi) product suite, best known for its Fuse product. This permissionless money market protocol enables users to deploy custom lending and borrowing pools. It also includes a yield aggregator similar to Yearn finance’s Earn vault.
Background
Rari Capital underwent a controversial merger with Tribe DAO in December 2021, leading to the departure of its key developer, Transmissions11. An exploit in April 2022 resulted in a loss of $80 million and the resignation of CEO Jai Bahvnani, leaving Fuse’s borrowing function paused indefinitely.
How It Works
Users of Rari Capital’s Fuse product can create highly customized lending and borrowing pools. Pool creators can adjust assets, the Loan-to-Value ratio (LTV), liquidation settings, whitelisted participants, and the pricing oracle.
RGT, Rari Capital’s governance token, inherits all the rights and responsibilities of TRIBE tokens after a merger with Tribe DAO.
Key Takeaways
- Rari Capital offers a range of DeFi products, including the Fuse product, a permissionless money market protocol, and a yield aggregator.
- The company underwent a controversial merger with Tribe DAO in December 2021.
- The merger led to the departure of crucial developer Transmissions11.
- An exploit in April 2022 resulted in a loss of $80 million and the resignation of CEO Jai Bahvnani.
- RGT, the governance token of Rari Capital, inherited all rights and responsibilities of TRIBE tokens after the merger.
