Community Treasury Fundraise Update
On behalf of the Community Agent, we’re pleased to announce that the Community Treasury Fundraise has completed. Here are the final numbers with respect to the Community Agent’s sales of $RLY on behalf of the Rally Community:
- Total $RLY sold: 196,300,538
- Total USDC received: $34,828,450
Of the total $RLY sold for the Community Treasury, over 94% are subject to a 12 to 24 month lockup.
Congratulations to the Rally Community for this huge achievement!
For those of you who didn’t see the original posts: check out the original community fundraise Discourse post, the approval that occurred on 12/31/2020, and the final terms that were approved on 1/10/2021. The amendment to the final terms was approved on 1/16/2021.
A few additional notes:
- With the approval of the Community Treasury Management Policy on 2/9/2021, the Community Treasury funds will be managed by the third party Treasury Manager.
- The USDC received through the Community Fundraise will be deposited before end of this week to the Coinbase custody account at the following public wallet address: 0xAb9C84ad7f8B1356A370d367234fe215DF979Ec2. Related to this, you’ll see a Snapshot proposal going up soon to clarify that funds received from the CoinList distribution will likewise be deposited to this secure account.
- Existing Community Treasury amounts will continue to be held at the following public wallet address: 0x3b66890289366175c360c1f0e1bafae06276ba03.
With this substantial warchest, and more to come following the CoinList distribution, the Rally Community is empowered to do some seriously big things - and the timing could not be better, with all the current heat on social tokens that isn’t dying down anytime soon.
As you’ve seen on Rally.io, the Rally Network has attracted diverse and interesting content creators, celebrities, musicians, streamers and influencers across all channels and platforms. Rally has been featured by New York Times, Business Insider, Adweek, VentureBeat, Bankless, PCGamer and RollingStone, just to name a few.
And all this has been achieved from modest community treasury spends to engage just a handful of agencies, advisors and ambassadors. Can you imagine what will happen when our community goes all in?
Let’s start talking about next steps on how to get Rally to the next level - let’s make this happen.