Thanks for the discussion. As consensus is supportive of this distribution, we’ll move forward with a formal Snapshot proposal. For reference, here are a few updates on terms:
Maximum distribution of 40M $RLY.
Maximum purchase amount per party will be USD$1000 (equivalent).
6 month lock up on all $RLY, and remaining $RLY for each transaction subject to release over 12 months (meaning, half will be released after 6 months and remainder will be released each month in equal parts for the remaining 6 months).
Transactions will be settled at a negotiated price based off the reference price, calculated as the 15-45 day trailing average price of $RLY, which CoinList will determine based on prevailing market conditions.
Feel free to continue the discussion here, and stay tuned for the proposal.
I would really avoid buying rally, Distribution is based off last 15-45 days period price. Current supply is ~143M, Max supply is 15B, seed investors or early investors probably got their tokens for cents and now price is pumped so much that you guys want to grab as much money as you can, Then start dumping coins.
You’re welcome to your view, but I assure you the Rally team is long term committed.
The Rally team are well known executives and entrepreneurs. I sit on the board of UC Berkeley and heavily involved in the Cal community. While what you’re suggesting is true of some (or perhaps many) crypto teams and projects, Rally is here for the long term. Because everyone at Rally is trying to change the world, not grab money and run. There’s nowhere to run to because we’re all public faces and USA citizens.
Crypto projects are notoriously difficult to price (hence the volatility) and it’s important to take into consideration the fundamentals, but certainly one needs to account for the distribution schedule for the 15B (https://wiki.rally.io/rally-network/token-supply) and also look beyond it to other aspects. @Delphi or @PiersKicks posted something on this on twitter at some point highlighting a valuation relative to active users on a crypto platform - can’t remember which at the moment!
Kevin posted something recently on Discord that’s good food for thought: “There’s an 8 year schedule for 50% of all tokens dedicated to network rewards, or 7.5B tokens. We have 80 creators on the platform today, with $RLY staked into Creators coins already at ~8M RLY or roughly 100K per creator. Assuming a similar ratio for rough math, we go to 800 creators, that’s 80M staked. 80,000 creators = 8B tokens staked. Obviously we’ll need to adjust the way our staking into creator coins work, but you can see that the model is already working. And I believe Rally have way more than 80,000 creators over the next 8 years.”
What I would add or highlight rather, while urging you to read the earliest blog posts on the why and what of Rally, is that the market opportunity for Rally is staggering. There are unknowns, but remember that Rally is global and not constrained to blockchain users. Rally’s unique ability to reach consumers beyond (and in addition to) blockchain enthusiasts is basically unparalleled and sets it apart from so many projects in the space whose valuations may price in broader adoption but lack the defined roadmap to get there.
To leverage what blockchain can offer to allow communities to build, create and exchange value in a forum that they own free from extractive fees; offering fans access, ownership and governance within these communities and of the larger network…this is a powerful new paradigm. And this is Rally.
I haven’t captured it all here, but we do see the year of defi giving way to NFTs and social tokens. Rally couldn’t be better positioned, and has proven its ability to execute on a vision. Tune in to the community calls and hear how forward thinking and tremendously ambitious creators like The most famous artist (today) are driving further innovative uses for Creator Coins and creating value that is shared across the community. It’s incredible and inspiring…and not just the future; but ours.
I would like to officially state how incredibly wrong I was about my concerns on what turned out to be an absolutely amazing marketing and adoption tool for $RLY.
Hi, I just purchased Rally coins through Coinlist. Just wondering when the tokens will be allocated as I dont see them in my Coinlist wallet.
Are they currently locked? Seems they are trading on Uniswap.
It’s our first time using CoinList, and Rally team members like ourselves live in the USA so we couldn’t even use the system. I think they should show up in your account in a week or so according to CoinList system, and then they will be locked for 6 months whereby 50% will unlock, and remaining 50% will unlock over another 6 months
