Rally | $RLY

The missing link of ETH to the creator economy

Introduction

It is a social token platform that revolves around creators and their communities, helps them build their personalized economies using cryptocurrency unique to the creator called creator coins, which act as a digital brand to provide value and utility to their fans and require no code.

All of this gives creators a new way to monetize their content and at the same time, fans get to participate in the economy and also benefit from the rise in popularity of the creator.

$RLY

The protocol uses a hybrid infrastructure in which there is a rally mainnet and the sidechain, which is Etherum based thus RLY is an ERC20 token.

This saves users from gas and also allows for the computation to be done on the side and then hosted. It is a vast and developing ecosystem thus discussing the use cases and incentives of the token are beyond this small report. Some of these are community activity rewards, liquidity mining (main pools), special roles in the creator community, minting NFTs, governance etc.

Creator Coin

Creators owning $RLY can make their unique coin which will be bonded to a rally token using a primitive called token bonding curve, which acts like an AMM (automated market maker) on the network itself.

This provides automatic liquidity by the rally token and thus an automated price discovery which results in a true market-based price for the creator coin. This system is vertically integrated thus you can buy creator coins with BTC, ETH, many other assets and also fiat, for which the foundation has set up another company to do compliance so that non-crypto natives have a seamless experience interacting with the protocol.

Token Supply ( data )

Pre-minted max supply of 15 billion RLY which will be released over 8 years reaching full supply in late 2028 with 70.4% kept for the community as usage rewards, treasury, LPs and more.

Looking at the release schedule we can see that seed investors and the team can begin liquidation sometime in late 2025. A large percentage for the community with a 4year vesting period with 1year lockup, all likely to be opened in mid-2022 does reduce the sell-side pressure.

My thoughts

Crytpo-verse went through its long-anticipated and much overdue explosion in recent years starting with Defi in 2020 to gaming and NFTs in 2021, the reason for this long wait I feel was the lack of infrastructure.

Looking at these I am a strong believer in the future of DAOs and decentralized social media, in fact, they both blur the line between the creators and the users/community.

Present Social media platforms like Instagram, twitch, discord etc is a world of content creation that ultimately creates communities. Present platforms only allow one-way interactions like in the case of fiat payments. This network allows for 2-way interactions where community members can be a part of that creator’s personal economy and can take part in managing it, investing in the creator, thus owning a piece of the unique social economy. They can use their creator coins to either pay or content, exclusive interactions, special discord access depending upon their coin holding, may contribute and earn or some may just provide liquidity.

The primary barrier as per me are…

• Getting non-crypto native people accustomed to the web3 wallet systems.
• Integration with other social media platforms thus developing more APIs like their twitch overlay and discord bots. Thus having a strong API and data pipeline infrastructure so that use cases can easily integrate tokens and their commerce into their websites & products.
• Regulation compliance for a global fiat rail (which I think strike can help resolve).