Hey Community -
I’m posting this thread to kick off a conversation about an additional strategic growth lever for the Rally network.
For those of you who have been following the growth of the Rally network since its launch on October 15, 2020, it’s been an incredible ride, and the best is still yet to come. Social tokens are considered by many to be the monetization building block of the future, and the Rally network is at the forefront of building the new economic system where artists, musicians, athletes, streamers and content creators of all kinds can build their communities, develop innovative content and fan engagements, and design and control their own economies.
Based on the initial success so far, the Rally network is achieving the type of name recognition that’s attracted, and continues to attract, marquee talent, celebrities, and strategic partners. These folks are looking to get involved in a very meaningful way and specifically are looking to lean in to Rally by holding a stake in $RLY tokens. There are currently a number of discussions with strategic talent and their representatives where they are not only interested in launching creator coins but they are also interested in purchasing additional $RLY tokens so that their interests are aligned with the overall Rally network. Allowing these parties to purchase $RLY tokens from the community could enable them to achieve this goal.
The recent finalization of the community treasury fundraises, both through the raise led by the Community Agent and the distribution and sale recently completed by CoinList, were widely regarded as very successful, with success measured by both the increase in the treasury as well as the growth in breadth and depth of $RLY holders following the events. The fundraises enabled a decentralized community to utilize an authorized third party agent to manage and oversee all aspects of the sale of a portion of the community’s allocation of tokens, with all proceeds flowing directly to the community’s treasury. The Rally community can now fund its future development as well as engage and benefit from the input of the wider and more diverse audience.
This post looks to explore following the same $RLY distribution design here, in the effort to attract and build long-term alignment with key creators and strategic partners. As settlements from the community treasury fundraises are wrapping up, there remains a balance of $RLY from the original 500M approved by the community. Using these $RLY to incentivize key creators and strategic partners to become part of the Rally network would go towards the achievement of aligning their long-term interests with the overall growth of the Rally network. In addition, launching their own Creator Coin could result in dramatic new growth to the network, both with increased participants and broad visibility to Rally.
Here are some thoughts on how this distribution would work:
- As with the community treasury fundraise led by the Community Agent, discretion would be provided to the Community Agent to negotiate a price, in this case in exchange for a minimum 2 year lock up. The Community Agent again would play the role of managing the sale and token delivery process on behalf of the Rally community.
- To ensure accountability and transparency, Bremner Morris, appointed by the community for go-to-market success, would serve as the community representative to assist with management and negotiation of each strategic opportunity.
- In addition, a governance reporting process would be implemented by which each creator/strategic partner purchasing $RLY through this structure will be announced on a quarterly basis via Discourse to demonstrate the level of talent entering the Rally network as a result of this initiative.
Please join the conversation and provide your thoughts and comments.