Got $RLY? Here’s How to Use It

This is an educational blog intended for $RLY holders. This blog will be updated over time.

First, thanks for being part of Rally! Now that you own $RLY, here’s some things you can do with your holdings.

With $RLY in your Ethereum Wallet

• Take part in Rally governance — Vote! 🗳
• Deposit $RLY into a liquidity pool and earn rewards 🙌
• Type “!join” in Discord 👀 to get a special role and private channel access

With $RLY in your Rally.io [sidechain] wallet

• Convert to/from Creator Coin

Best Practices

Here are some best practices to consider when using $RLY.

Add ETH to your Ethereum wallet where you hold $RLY

For some of the activities listed herein, you will be required to pay a processing fee, called “gas,” to complete transactions. The cost of gas is fluid (no pun intended); that is, the cost to complete a transaction may depend on the size of the transaction, the speed of the transaction, and the current number of transactions on the entire Ethereum network, among other factors.

For example, to stake $RLY to a liquidity pool, you should acquire $20 USD in ETH to allot for multiple potential transactions.

How to Acquire ETH

You may be able to buy ETH through the Ethereum wallet where you hold/manage $RLY. Buying ETH from your wallet is typically found under an option named “Buy,” “Add Funds,” or “Trade.”

If you do not see such an option or if the option provided in your wallet does not work, you may need to use another wallet or purchase option. For example, you may need to create an account on a platform like Coinbase, buy ETH, and then send that ETH to the wallet where you hold $RLY. (You cannot currently manage $RLY in a Coinbase wallet.)

Take Part in Governance — Vote!

Community governance enables the community of $RLY holders to direct all major changes to Rally Network. Holding $RLY enables you to take part in Rally Governance through voting, including accepting new Rally creators (who can create proposals), $RLY grants, and Rally tech/network upgrades.

Rally Governance takes place in these key areas:

• Rally Discord: Where the community at large gathers to discuss all things Rally
• Rally Forum: Where you go to discuss discrete proposals. Make sure to create an account to participate in discussions.
• Rally Snapshot: Where you go to vote on current proposals, or review previous proposals. Voting on proposals is as easy as connecting the Ethereum wallet where you hold $RLY and making your vote!

Deposit $RLY into a Liquidity Pool and Earn Rewards

The $RLY liquidity reward program rewards $RLY token holders who provide liquidity to specific Uniswap and Balancer liquidity pools. 350M $RLY from the community token allocation have been earmarked for distribution as liquidity pool (LP) rewards! To participate, provide liquidity to any of the Balancer or Uniswap pools noted above and then visit vaults.rally.io/liquidity to deposit your LP tokens and begin earning $RLY rewards.

In simpler terms, you can deposit your $RLY holdings into one of the liquidity pools, which will reward you with more $RLY. This process is called staking. You are staking a liquid asset, in this case $RLY, like you would when you put cash into a savings account. Based on the amount and length of time you stake, your stake will yield rewards in the form of more $RLY tokens. You can then move these rewards, or harvest, to your Ethereum wallet and come back to this doc for all the things you can do with your $RLY holdings!

Order of Operations

1. Go to vaults.rally.io/liquidity.
2. Click the square w/ arrow icon next to the liquidity pool tokens you want to stake. This will take you to the corresponding liquidity pool page for that liquidity pool token pair

1. Add liquidity to the selected liquidity pool. See examples processes below.
2. Return to vaults.rally.io/liquidity and select where you want to stake your liquidity pool tokens. You should now see a Balance you can deposit into that liquidity pool.
3. Click Approve to approve your wallet to connect with that liquidity pool.
4. Complete the deposit.

Adding Liquidity to the Uniswap Pool

Here is a guide on staking your $RLY into the Uniswap $RLY liquidity pool. You will need ETH in addition to $RLY to deposit into this particular liquidity pool.

Adding Liquidity to the Balancer Pools

There are multiple Balancer pool options available on https://vaults.rally.io/liquidity. You can add liquidity into these pools using multiple assets (eg, $WETH + $RLY) or just a single asset (eg, $RLY only).

1. From vaults.rally.io/liquidity, click the square w/ arrow icon to go to a specific Balancer pool.
2. Connect your wallet on the Balancer pool page.
3. Click Add Liquidity.
4. Select Multi Asset or Single Asset. (You may need to approve the use of your tokens from your Ethereum wallet in this step.)
5. Enter the amount(s) you want to deposit and then click Add Liquidity.

After the processing completes, go to https://vaults.rally.io/liquidity to stake your pool balance into the appropriate liquidity pool.

Convert to/from Creator Coin

If you hold $RLY in your Rally.io sidechain wallet, you can convert the $RLY into a Creator Coin, thus buying that Creator Coin. You can also convert a Creator Coin to $RLY, thus redeeming that Creator Coin (and removing those coins from a coin’s circulating supply).