Rally Bridge Entry: Connecting Ethereum Mainnet and the Rally Sidechain

tl;dr- $RLY bridge ENTRY from Ethereum mainnet to Rally sidechain up today, $RLY bridge EXIT from sidechain to Ethereum mainnet in November

Today, we launched the first phase of the Rally Bridge, an experimental feature that allows users to connect $RLY between Ethereum Mainnet and the Rally sidechain (accessed today via Rally.io). This connection is a leap forward for Creators on Rally, giving them yet another way to allow users into their Creator Coins.

Rally Bridge Entry allows Ethereum wallets to deposit $RLY into a smart contract, and receive $RLY in their Rally.io sidechain wallet. For example, a user holding $RLY in their MetaMask wallet will be able to send that $RLY to their Rally.io account wallet to acquire Creator Coins.

To use the Rally Bridge, you will need to have 1) available $RLY in your Ethereum wallet, 2) ETH for gas fees and 3) a Rally.io account. The Rally Bridge can be found at vaults.rally.io/bridge and requires two values: the amount of $RLY you want to send to your Rally.io wallet and your Rally.io Bridge ID. Your Rally.io Bridge ID can be found in the Profile Settings page of your Rally.io account.

You’re likely wondering what you can do with $RLY on the Rally.io sidechain At this very moment, you can see it in your sidechain wallet and see the market price. Very soon, you will be able directly convert $RLY to mint Creator Coins and similarly, burn Creator Coins down to their underlying $RLY.

We aim to launch this Convert functionality in the next few days after finishing extensive testing.

In mid-November, Rally Bridge Exit will be available from Rally sidechain to Ethereum mainnet. Users will be able to take $RLY from their Rally.io wallet, and send it out to an Ethereum wallet on the mainnet.

Note: The Rally sidechain is a private Ethereum blockchain and thus is a trusted environment (even though $RLY mainnet is a trustless governance token). This means that activity on the Rally sidechain may subject you to Know Your Customer (KYC) and anti-money laundering procedures. We anticipate that within 12 months, a combination of Optimism and zkSync will enable a fully decentralized Rally sidechain solution for everything that happens on the sidechain today.

Thanks for supporting the Rally Network that is on a mission to empower creators, brands, celebrities, and crypto influencers to tokenize their communities. Together, we will bring the next 100 million users into crypto.