Rally ERC-20 Governance Token (RLY) to launch October 15, 2020

Image from Pass Limited
  • Creator/Fan alignment — Growth in the token community benefits Creators and fans.
  • Automated liquidity with a Token Bonding Curve (TBC)Rally’s TBC design eliminates the need to supply liquidity on a DEX, reducing complexity for fans and Creators.
  • Easy fiat on-ramps — Fans, especially those new or unfamiliar with crypto, can enter a Creator’s token community with their credit or debit card in just a few clicks.
  • Low fees — Rally’s sidechain dramatically lowers transaction and gas fees, making participation appealing and accessible to all for everyday usage, not just crypto whales.
  • Fair/Programmatic token distribution — Simplified token distribution and balanced ownership between Creators and fans is based on demand and usage.
  • Network Effects — With a broad base of diverse Creators, brands, fans and communities, there’s more reasons to join the leading social economic network. The network as a whole goes through a single cold-start phase as opposed to each Creator or community tackling it themselves. As the network grows, the Rally Community Treasury and Developer Grants can fund technology integrating all Creator Coins into the newest e-commerce platforms, social media outlets, events systems and more. No individual Creator or brand would need to bear these costs alone.
  • Network Transparency — Worried about bad actor rug pulls? Rally’s template-based approach to token bonding curves allows each Creator to self select into selling restrictions and transparency rules, creating network level benefits for everyone to trust the system.

Community Roadmap

Currently, Rally lives on a purpose-driven sidechain with dozens of beta testing Creators already onboarded who have launched their own interactive token communities with their fans. The Rally Network utilizes key components from Forte, including its sidechain infrastructure, TBC tooling, embeddable crypto wallets, and streamlined transaction ecosystem for easy fiat onramps for first time crypto users.

Phase 1 — Launch Initial Creator Coins

Creator Coin alpha launched in August 2020 on our sidechain and entered beta in September 2020 as we added crypto on-ramps and off-ramps as well as other core features. We are seeing early success in the form of significant demand for Creator Coin fueled by real utility and a wide array of use cases that few crypto projects to date have achieved:

  • 25 committed streamers representing over 12k concurrent viewers and 1.2M followers on Twitch alone
  • More than two thousand fans creating crypto wallets and accounts to transact in Creator Coins
  • First “brand coin” set to launch soon
  • More than $35,000 in net deposits (even with volume caps) in our first month, and one individual streamer generating nearly $20k in net deposit volume

Phase 2 — YFI YDV, Community Treasury, and RLY Governance Tokens

We love YFI and are contributing to the YFI community with new code that enables crypto projects to leverage YFI Vaults to accumulate and manage a project treasury. We’re calling these Yield Delegating Vaults (YDVs). We’re adding a wrapper around existing YFI vaults that allows users to delegate some or all of the future yield generated on their behalf to a Rally Community Treasury in exchange for grants of RLY, without having to hop through multiple gas transactions. Code is being audited by Peckshield, and we will open source this code under MIT license. These wrappers can be configured by other projects for their own tokens and treasuries.

Phase 3 — Ethereum Bridge to Rally Sidechain

With the community, we plan on launching a bridge that connects Ethereum RLY with Rally’s sidechain. Upon launching RLY Bridge v1, mainnet users will be able to stake RLY into the bridge to receive sidechain RLY (1:1 exchange) that can be used to purchase (and thus collateralize) Creator Coins. Creator Coin prices will in part function based on RLY prices on Ethereum, as all Creator Coins are bonded to RLY.

Phase 4 — Network Usage Rewards

Network Usage Rewards will serve as the major growth driver of the Rally Network, rewarding community members who are actively participating in and contributing to the Rally Network. With the approval of the RLY governance community, Network Usage Rewards v1 will be implemented into the Rally Network at this phase.

  1. Creator Coin Community Rewards — Creator Coin communities earn RLY via a formula that will be decided by the RLY community based on net collateral change and economic activity. In future versions, the community will decide on different parameters for updating the formula. RLY rewards increase TBC collateral and benefit all holders of a Creator or Brand Coin proportionately.
  2. Stake Rewards — Fans earn RLY by staking Creator Coin. We expect emergent social networking behavior to manifest depending on how users stake, how they delegate their rewards and governance, and how they show who or what they’re staking for publicly.
  3. Referral Rewards — Community members earn RLY by introducing new Creators or brands that are ultimately approved by the governance community. We hope to work with the community to fund a new generation of digital agents that help normal everyday creators, athletes, celebrities, and brands unlock the potential of their Creator Coin communities.

Phase 5 — Dev Ecosystem v1 for Developers, Creators and Brands

Rally’s data pipeline and developer grant program are designed to grow an ecosystem of engaged and incentivized 3rd party developers. For any Creator or Brand lacking your own army of developers, Rally’s economic network is designed to connect developers with you to build the technology needed to use your own cryptocurrency in your everyday business needs.

Phase 6 — Rally Sidechain Bridge to Ethereum

This phase marks v2 of the RLY bridge and allows users to exchange Creator Coins for RLY on Ethereum.

  • Ethereum Mainnet — trustless authority regarding token supply, RLY price discovery, ownership of RLY, and network governance
  • Rally Sidechain — fiat onramps, Creator Coin price discovery, first-time crypto user friendly experience, embedded crypto wallet, no gas fees, and minimal transaction costs

Join Us!

The launch of Rally on Ethereum marks one of the first large-scale attempts at connecting mainstream internet users with the broader crypto community. The economic opportunity related to tokenizing every Creator and digital brand on any social media platform is truly limitless.

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