As the Community Treasury Fundraise wraps up, the Rally Community was able to raise a significant amount for the treasury without tapping into the full 500M $RLY originally approved for distribution through the fundraise. In light of the large pool of ~300M remaining $RLY that was originally approved for distribution, I wanted to initiate a discussion about a different allocation of a portion of this pool - this allocation would be for distribution via Coinlist.
Coinlist provides a platform for digital asset companies to distribute their tokens to non-US parties who are interested in becoming a part of new token protocols and ecosystems. Coinlist prides themselves on compliant distributions, focusing on crypto-savvy audiences outside of the US, and carefully vetting all parties through Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance processes.
Based on the mission of the Rally Network and the creator economies that it supports, Coinlist has expressed its interest in assisting the Rally Network with international distribution and awareness building directed at crypto audiences. The Coinlist site will publish a deep dive content page for $RLY to enable their audience to learn more about the Rally Network, $RLY and the creator coin ecosystem - here are some examples of what they have published for other projects: FLOW, SKALE and OCEAN. This distribution channel could be another step for the Rally Network to continue its growth and to attract the right community members to take part in our protocol.
Why Coinlist and what does success look like? The FLOW distribution event saw ~13,500 participants become part of the FLOW ecosystem. Currently, $RLY has 1,160 holders. Success would be to partner with Coinlist to increase $RLY token holder participation by an order of magnitude.
Would like to hear the community’s opinion on partnering with Coinlist. The distribution would likely be limited to 25-40M of the $RLY previously approved for distribution through the Community Treasury Fundraise; open to thoughts on that as well. In addition, each Coinlist participant would be capped on participation.
Leveraging Coinlist as a new distribution channel for crypto-savvy users could be worth exploring - looking forward to having a discussion.