On October 28th, Framework Ventures Management LLC proposed to exchange RGT tokens in the DeFi robo-advisor agreement Rari Capital vault (the original token of the agreement) into stablecoins through Dutch auctions.
Framework proposes to exchange 250,000 RGT (10% of the total amount of the vault RGT) in the Rari Capital DAO vault into USDC through a Dutch auction. The token lock-up period is 2 years, the auction period is 72 hours, and the minimum auction price is $25. .
In addition, Framework also proposed to invest at least US$5 million to support this auction (the price is based on a 30-day rolling average price with a slight discount). Framework Ventures Management LLC is an early participant and supporter of Rari Capital DAO.