Proposal: Hold Coin launches until the Fair Launch update

Over the past 2 months, several devs, community members and even the Creator Council have raised concerns about the current Coin launch process.

The current Coin launch process causes clear financial loss for new Rally customers.

Here are the 4 coins launched last week and 3 earlier today :

On each chart, it is possible to notice a pump & dump pattern, where the dump is limited by the Flow Controls.

If the Core Team believes that this is not clear and convincing evidence of fraud and yet keeps launching Coins; some might argue that this is negligence.

Proposal:

  • It may be well-advised to put Coin launches on hold until the Fair Launch update.
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While I am excited for Fair Launch to be ready, which I suspect is holding up a lot of creators from launching, your proposal would take away the ability for a creator/community to choose whether to launch under the current market conditions.

Let me rephrase your proposal, curious if you still agree…

  • Prevent creators from launching, period, until Fair Launch is ready.
    I’d certainly vote no to that…

On a different note…

There is no “fraud” occurring… what you’re referring to is behavior from users participating in the market under current conditions. You need to stop using such loaded terms like ‘fraud’ or ‘insider trading’ - final warning.

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To some extent, I agree. Although I just can’t figure out how today’s Coins can follow the exact same pattern for more than 10 hours without any mechanical means?

Got it.

I’m not in favor of pausing launches.

I think that from a creator point of view, they should be made aware of these potential effects and have them decide to launch yes or no. And if yes, the creator can decide whether or not to educate its fans.

I guess they are not obliged to launch (yet) once they’ve sent in their application and me, you, others as potential buyers/supporters are not obliged either to buy a CC (straight away at launch).

As both parties involved have a free choice to make, in my opinion no further action is needed in the mean time until the “fair launch update”.

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What do you mean by “potential effects” ?

Almost everyone on this forum is either developers or creators; this thread will likely be ignored or overlooked. And I can understand that, it doesn’t take much to be ostracized given the limited amount of people actively involved in this startup.

Who should I contact to report suspected fraudulent activity since it is taboo on Discord, now this forum?

You posted a draft proposal about pausing coin launches - I directly addressed your idea, rephrased it, and asked you a question which you still haven’t answered. Please don’t deflect the conversation away from your own topic.

email support@rally.io

I disagree. The primary goal of a business is to meet customers needs and act in their best interests.

This post is about the financial loss for new Rally customers.

As a fan, if I knew the financial loss were foreseeable and not prevented, it would genuinely upset me.

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Interesting data, thanks for sharing. Are many of these coins backed by an actual utility and/or project of substance? This would be a key piece of data to consider.

“Potential effects” → well for instance that there is or can be volatility involved looking at USD-value (ao due to underlying RLY price), but also educate fans that in terms of amount of CC holdings, it’s all good from a special perks perspective.

Most of the loss you mention is from “old customers”, who clearly own rally already, who try and get in at a coins launch for a low rate, but end up getting it at a high rate due to the design of the purchases and my location relative to the website/ servers. I stopped buying new ones at all because I found I either lost money relative to the starting price, or at best broke even after rewards while needing to dump the coin just to preserve what value I started with in the first place.

And creator’s don’t lose anything if those with rally buy their coins early, AND the creator waits to launch on their channels after the price stabilizes. Plus Markovic already mentioned the creators need to educate their followers on what they need to receive the benefits they offer.

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