There are currently more decentralized finance platforms than can be counted, with more launching every day, but one that could be worth keeping an eye on is Rari Capital.
Rari Capital has remained largely under the DeFi radar since its launch in July 2020. It doesn’t even feature on DeFi Pulse’s list, which is now 65 protocols strong. However, that does not mean that the team hasn’t been innovating and forging new industry partnerships.
The protocol is a yield aggregator that follows an ethos of yield generation through utilization instead of speculation. Rari Capital is effectively a robo-advisor for DeFi which optimizes for the highest possible yields.
Director of product at Messari Crypto, Florent Moulin, sees a lot of potential in the protocol and its native governance token, RGT, which he says is undervalued and could be one of the next “DeFi blue chips.”
1/ $RGT is undervalued and could be one of the next DeFi blue chips. The current mcap ($45M fully diluted), does not reflect the potential of:
– A yield aggregator platform
– An unstoppable custom money market deployer
– A L2 innovator building on @optimismPBC & @StarkWareLtd pic.twitter.com/D6NWZ8Ut9n— Florent Moulin (@fmoulin7) February 9, 2021
DeFi Integrations
Rari has already integrated with a number of higher-profile DeFi protocols, including Aave, Compound Finance, mStable, dYdX, and Saffron Finance. More integrations are on the way with Alpha Homora, Curve Finance, Keeper DAO, Enzyme, and CREAM Finance.
It offers three pool structures; a stable pool that interacts safely with exclusively audited contracts, a yield pool that will maximize yield at all costs, and an ETH fund that works to deliver safe and stable returns with ETH as the base asset.
Moulin, who stated that he was a token holder, exclaimed that Rari Capital was much more than just a yield aggregator, highlighting their latest product, Fuse.
“Their last product in audit, Fuse, brings an entirely new primitive to DeFi: an unstoppable custom money market deployer, allowing anyone to create money markets for any asset, with any parameters.”
The team has also been actively working to integrate Layer 2 scaling solutions with the development of an automated market maker using optimistic rollups. It is also developing a decentralized rebalancer using Starkware for consensus and providing liquidity incentives on Loopring to incentivize gasless LP tokens swaps, he added.
The protocol is currently undergoing a Quantstamp audit and reports a collateral level of $3.1 million.
RGT Price Surges To ATH
The Rari Governance Token, RGT, made a monumental 85% rise the previous day. For today, it still boasts an impressive 24-hour gain of 20.3%. Whether it was a result of the Messari shill or general market sentiment remains to be seen.
RGT is currently trading at $8.85 after reaching an all-time high of $9.38 yesterday. It is up over 177% in the past seven days, according to Coingecko. There are just under 8 million tokens circulating, giving it a market cap of just over $70 million, which is pretty small compared to the DeFi giants.
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