The $RGT is the Rari Governance Token. It can be used to propose and vote proposals made by any token-holding community members. Users can soon also delegate their voting power to another address to pool voting power. There has been no sale of $RGT from the DAO, all of it was liquidity mined or given to the founding team as part of our fair launch.
The $RGT token will then be used to formalize a DAO that is responsible for maintaining the Rari Protocol through the following processes:
Every aspect of Rari Capital will be controlled by the governance mechanism. The governance also controls the Rari Treasury. Token holders are expected to vote with the protocols future in mind. The team is actively pursuing a transition to on-chain governance and removing the need to be reliant on a multi-sig to initiate changes.
It is only through governance that new tokens can be minted, created or liquidated. The only proposal that comes close to this is RIP-1 which is yet to be implemented.