Robo-Advisor Rari Joins Melon Protocol, Offers Users $52,000 Airdrop

Rari Capital uses automation to optimize yields for DeFi users. Partnerships in the DeFi space are one of the ways the industry will grow and mature over time, and the new move to Melon Protocol is a vote of confidence in decentralized infrastructure and solutions. 

The on-chain asset management protocol currently holds $2.6 million in locked assets according to DeFi pulse, while Rari Capital boasts a TVL of above $58 million. Rari Capital uses automation to optimize yields for DeFi users. 

Using Melon Protocol should allow Rari Capital to focus resources on strategizing and shipping products, while Melon will benefit from the added liquidity. Melon will be rebranding to Enzyme Protocol in the near future too. 

Speaking to Crypto Briefing, Rari Capital co-founder Jack LipstoneCEO Jai Bhavnani stated  “I expect to see an influx of new capital into the ecosystem in search of higher returns and unique applications” as a result of the move, citing an increased understanding of DeFi technology among institutional and retail investors.

$52,000 Airdrop for Rari and Melon Users

The two projects have announced a mutual airdrop for each other’s users. RGT token holders will receive 1,500 MLN tokens, equivalent to approximately $20,000, while MLN token holders will receive 50,000 RGT tokens worth about $32,600.

RGT tokens allow Rari users governance rights and offer access to discounted fees among other benefits. Rari will be donating 50% of all protocol revenues to the Rari Foundation, a charity fund facilitated by the Endaoment DeFi app. RGT token holders will be able to vote on which charities will receive this donation, and holders may benefit from tax-offset options in the future. 

Meanwhile, the MLN token aims to reflect the value of activity on the Melon Protocol network and incentivize developers to build. Melon allows users to establish, manage, and invest in on-chain investment vehicles, making Rari Capital’s liquidity and partnership a welcome addition to the project.