Hello everyone! My name is Brian Flynn and I’m looking forward to being an active contributor in the Rally community. I’ve spent the past 3 months launching a social token ($JAMM) and have been using it in both crypto-native ways (access to a newsletter) and distribution (reward for donating).
The Rally Network is exciting to me because it’s the first permissionless way for a community to have an alignment between all creators on the network. That’s really powerful. But with this great power comes great responsibility.
In the beginning, we need to make a decision on whether to accept everyone to the Rally Registry or keep the bar high. The benefit of keeping the bar high is that it keeps out bad actors from the network. The downside is that it limits the reach and awareness levels of Rally.
It might seem favorable to the community to let everyone in, but this will make it more difficult to amend the Registry later on. I recommend keeping the bar high to draw in the highest quality of creators to Rally. This will also let us focus on the growth of individual creators on the network and study how they’re using their Creator Coin.
Proposal: We should increase the quorum of $RLY to get accepted into the Rally Registry to minimum 50,000 $RLY. This will encourage more creators to be aware of the votes and also have them campaign for votes with $RLY holders.
I think this is great and we should be constantly rethinking the minimum threshold to approve new creators, in particular as the circulating supply of RLY changes. I’m all changing to 50k RLY.
I just want to have my concerns/opinions/questions I brought up in Discord (privately and publicly) noted here in the related Discourse:
I think it’s a hair too early for this. Like maybe a couple weeks too early. Unless the other related fixes [notifications of upcoming proposals, or scheduled proposals, or ways for stakers to vote fairly] are rolling out at the same time, it’s gonna be a massive uphill battle at this stage for new creators.
I’m thinking of, especially, the couple of friends I myself have referred. They’re small streamers, and don’t understand the platform enough to bother campaigning for acceptance. They won’t be the only ones.
On that note specifically, I suppose my question/concern is this: How strictly do we want to filter out smaller/‘weaker’ creators for now?
Another note: To the date of this proposal going live, not a single proposal had achieved a 50k RLY weight of votes. As of writing this, still no single proposal had achieved this weight of votes.
I eagerly await contrasting opinions, as I would love to feel more comfortable with this change going through.
For now, my (very small weight) vote will be a ‘No’, with the hope that this or a similar proposal would be brought up again soon given some updates to how voting is handled or notified.
Edit: I want to be clear and say I believe there would be small gains in terms of creator coin holdings for myself and my referred friends should they be approved, and I’m aware this probably doesn’t look good when I drop a ‘No’ vote on something that would likely restrict their joining. Please understand that this isn’t really my worry, but it was a small flag that triggered deeper consideration of the subject. I’m no perfect being.
Edit2: From the Discord discussion, I guess it’s a function of how rare Rally should be, and if some hidden whales are willing to review the small campaigning bits new proposals will have to put up. I’m leaving my (again, small weight) vote a ‘No’ so that hopefully someone is driven to view the discussion here and perhaps ask about it in the future. Would be interesting to see the history on it.
I think we should push through these related fixes ASAP for the valid reasons you’ve brought up. It’s certainly not a good look when the 50k min. vote proposal doesn’t garner 50k votes.
Also, definitely hear your concerns. And when I say push the fixes through, I mean push them through to a vote. I’d also suggest that in the spirit of their purpose (providing notice to voting snapshot) that we get a 24 hour notice before that snapshot will take place.