Rally wants to build up the creator economy, connecting fans with celebs in a more meaningful way.
How Does Rally Work?
Currently, Rally operates with an invitation-only system and a limited capacity, ensuring that every creator's launch is successful. According to its website, Rally is seeking creators with engaged communities who produce consistent content and have strong ideas about integrating their coin into their communities.
- Buy RLY on an exchange like Coinbase, Uniswap (V2), KuCoin, Bithumb or Huobi. In that case, the purchased RLY needs to be bridged onto the Rally sidechain to buy Creator Coins. RLY is an ERC-20 token on Ethereum, so bridging comes with gas fees.
- Alternatively, you can buy Creator Coins directly on the Rally sidechain, either with crypto or via credit card. Each credit card transaction is limited to $500.
To sell Creator Coins, you need to verify your identity through KYC. In addition, Rally has so-called flow controls when bridging out from their sidechain. The current limits are as follows:
- 50,000 $RLY per user per day, with a global system max of 1,000,000 $RLY per day.
- A maximum allowance amount defined as 5% of the total coin supply of any coin over 30 days (applies to the entire coin economy).
- Individual accrual toward that maximum allowance over 30 days (defined per user).
Creator Coins represent the creator's reputation and are used to reward communities for their loyalty, engagement and participation enabling deeper, more meaningful connections. Each creator decides individually which perks and benefits holding their token entails.
Coins are traded along a linear token bonding curve that was designed to support larger communities, larger single-transaction purchases and fractional liquidity pools. The token bonding curve is designed as follows:
- Total Creator Coin supply: 21 million;
- Genesis amount: 5 million (24%);
- Starting price: 1% of current price of RLY;
- Vesting: 50K Creator Coins unlock immediately, 10% of supply unlocks after a six-month cliff, additional 3% of supply unlocks each month through the end of year three;
- Vesting is capped so a creator won't vest more than 50% of the total circulating supply at any point (i.e. in order to unlock all 5MM coins in the genesis supply, you must garner enough support for 10MM+ coins in circulation).
What Makes Rally Unique?
Rally empowers creators and artists to build individual economies around their personal tokens and NFTs in a mostly seamless and fee-less way. The platform doesn't charge any fees and leaves it to creators to decide if they want to impose a resale fee on their Creator Coins.
- Seed investors (15.3%);
- Team (14.2%);
- Advisors (0.17%);
- Sidechain operations (1%);
- Treasury (3.3%);
- Liquidity mining (2.3%);
- Advisors and future collaborators (3.3%);
- Developer ecosystem and technical partnerships (5.0%);
- Creator, brand, and community partnerships (6.4%).
- HLTH community, a healthcare-focused coin;
- Joe Pulizzi, founder of content creator media company called The Tilt;
- Keisuke Honda, a former Japanese soccer player, coach and investor;
- Gary Henderson, an online marketing guru;
- Allie Strasza, a content creator and Twitch gamer.
What Are People Saying About Rally?
One of Rally's most prominent coins is Keisuke Honda, a former world-class soccer player from Japan. When launching his token in 2020, Honda said that his token involved a "new technology and new methods of reaching out to fans." Honda also added:
"I decided to start this project because I wanted to connect with my fans in a more open manner. We haven't decided what to do with the money we make from the [token] yet, but I promise to [consult and] disclose this sort of information to all token holders."
Another prominent Creator Coin is that of Jaylen Clark, a UCLA basketball player. He launched his coin to build his connection to his fans through various events, such as ticket giveaways. JROCK holders will also have access to exclusive content on his site.
CEO Bremner Morris said that creators are launching tokens to build a long-term connection with their fans and not to turn a quick profit. He believes that Rally can turn the creator-fan relationship into a symbiotic one with the help of social tokens.