Proposal: Rally Whitepaper

Version 1.0

Date: 02-06-2021

Edits: none

Greetings Rally Community,

As it stands Rally is without a whitepaper. This is unfortunate because as many of you know, a whitepaper is a useful asset to those researching a particular blockchain or crypto native business in terms of overall understanding and as a potential investment. On top of that a solid whitepaper also inspires confidence, trust and gives users & creators something to refer to when discussing topics related to Rally. In short, a well-written and researched whitepaper is a major plus for Rally as a community and investment vehicle. The proposal herein is to write such a whitepaper. This will be done in close cooperation with Kevin Chou and the Rally team. It is also a project that will be continuously updated as Rally grows, evolves, and implements new solutions and ideas.

Crucially, before any (digital) pen is put to paper, the community’s feedback and subsequent vote of approval is a key component of the process. Suggestions regarding content, structure, and other topics are greatly appreciated. In turn, I will frequent the proposal to answer any questions and engage in meaningful discussion.

In what follows, I would like to share with you a general outline and vision of the whitepaper open to your feedback. The overall gist is to introduce the reader to Rally and bring understanding to the problems Rally addresses. The next step is to demonstrate to the reader the solution(s) and improvements of Rally and introduce the reader to the tokenomics, layer 1 & 2 blockchain structure, treasury, grants and all things related to blockchain-economics. Finally, we’ll introduce the roadmap and vision of Rally and the team, advisors and key players that will make all of the above possible.

The paper will be written in an explanatory style and language use should be accessible to most readers. The overall aim of the paper is to provide information and address key issues crypto natives could have when researching Rally. It should also be useable as a reference source for further research.

Please note that towards the end of this proposal, I will conclude with some information about myself and the compensation structure for the work delivered.

[/beginning of paper]

Abstract:

Example:

Content creators become successful through a dedicated and passionate community. Creators in turn monetize this community to make a living. Oftentimes this adherence to monetization leads to financially motivated decision-making by the creator which in many cases comes at the cost of community quality and engagement. In turn, this leads to disenchantment from the perspective of the fan. The underlying reason herein is a disconnect between the goals of a creator and the desires of the community. Rally aims to realign these incentives by allowing creators to establish their own, unique crypto-currency (token). This token can in turn be acquired by fans that can trade, pay and hold them as a way of benefiting from their participation in the creator-community. Subsequently, as a creator gains popularity and more fans acquire the token, the token value and both parties’ benefit. The creator coin is also used to provide access to gated environments, pay for a creator’s services and through Rally’s reward mechanism – provide a stream of income for both creators and fans. We envision an environment of intrinsic social mediation and values that meet financial association and engagement which ultimately builds an incentive model that keeps fans and creators deeply engaged.

The abstract is basically one to two paragraphs that lets readers get a general understanding of Rally and the ecosystem. It prepares the reader for the whitepaper and contains the key points and concepts unique to Rally.

Contents:

The contents section serves to provide an overview of the whitepaper’s chapters and their related pages.

Introduction:

This section functions to introduce the reader to all things Rally and the ecosystem in which it exists. For example, it will introduce the team, their history and role each member occupies in the Rally team. This section will contain an extensive introduction to the concept of Creator Coins, their use, the tokenomics, relation to Rally and token bonding curves. The introduction will also preface the current creator economy and engage with some of the issues prevalent in the creator economy. Other topics that will be discussed include the Creator Council, an emphasis on compliance, ease of use and the low barriers of entry to Rally. Finally, this section will go over some of the key terminology related to Rally.

Problem & solution:

The problem & solution section of the whitepaper will provide a detailed analysis of the problems surrounding the current creator environment. You can think of issues related to the misalignment of incentives such as the fact that creators want to monetize their community, but at the cost of the supporting community. Other examples you can think of are fan’s inability to benefit from communal participation and the sizeable chunk of income platforms demand from creators.

In turn, the whitepaper will demonstrate the solutions that Rally and the native token enable. There will be an extensive explanation of the shared token space, NFT’s, communal ownership, alternative forms of income, subscriptions and gated content. In essence, the solution to the problem.

This section will also include an analysis of competitors in the market (such as Roll and to an extent Chiliz) and other social coins such as $WHALE and $ALEX; the aim herein is to demonstrate key competitive and structural advantages Rally has over its competitors.

Closing this section will be a small summary of the above.

Tokenomics:

In essence this section will engage with all things related to blockchain and tokenomics. Examples include the token bonding curves, issuance rates of Rally, the treasury fund, community rewards, Rally’s sidechain, grants, etc. The tokenomics section will probably be a rather lengthy component of the whitepaper, but this is a key component to explain and engage with elements that may cause worry or concern to potentially new users or creators.

From my experience, tokenomics and blockchain can be difficult to understand. Especially when you are dealing with bonding curves, issuance rates and community rewards simultaneously. Therefore, the goal of this section is to break down these components and make them as easy to understand as possible. I imagine a lion’s share of the work will go into this section of the paper, but it should be well worth it.

Motivation:

What is the motivation behind fixing the problems we have engaged with before? In essence, why does the Rally team want to spend time building Rally, addressing creator-fan issues and what is their vision of the future?

The reasoning behind including a motivation section is simply because it allows the Rally team to express themselves in a way that addresses any potential concerns reader may have. For example, a reader may have doubts in terms of the team’s commitment or long-term vision. By addressing these issues, we should be able to curb fear, uncertainty & doubt.

Roadmap:

The goal of this section is two-fold. On the one hand, it is to introduce and explain the roadmap. What are some cool concepts in the making (such as NFT’s and gated content) and what do users & creators of the Rally community have to look forward to.

On the other hand, this section will demonstrate how the tokenomics of Rally help in achieving the roadmap. Examples include how the current inflation rate of Rally tokens make it possible to sustain the growth of the creators and their communities.

Team, advisors and investors:

Finally, the whitepaper will introduce the team, advisors and major investors in Rally.

Conclusion:

The conclusion will wrap up and reiterate all the content discussed in the whitepaper. In some cases a conclusion can also be used to place a particular topic discussed within a broader perspective. For Rally you can imagine the metaverse as a broader topic for example. The necessity hereof is yet to be determined.

Sources:

A list of sources will serve several functions. First, to underline the fact that the whitepaper is thoroughly researched and credible sources are used. Second, to allow the reader to examine the sources used. Third, to provide an overview of useful links to Rally documents, communities, and other points of interest. Finally, a list of sources adds a layer of professionalism that reflects positively on the whitepaper and the Rally project.

[/end of paper]

Final remarks:

As promised in the introduction to the proposal I would share some details about myself. My name is Paul, I currently work as a project manager for data driven projects in the military. These are not the Edward Snowden type projects; they are more in line with the management of military personnel. In my spare time I love gaming, Valheim is the game of choice at the moment. I share a house with my lovely girlfriend, a cat named Biscuit and a dog named Zulu.

Crypto and blockchain have been a passion of mine starting in 2015 when I bought my first Bitcoin. What drew me in is the fact that ownership over a Bitcoin (or other digital assets) means true ownership. Nothing or nobody could take this ownership away. I found this to be incredibly interesting philosophically and economically. I have not left the space since.

I’m incredibly passionate about Rally and I’ve spent considerable time analyzing the protocol, ethos and product-market fit. Some of my work you can find on the wiki, especially the tokenomics section. This is also why, for recompense, I would prefer to be paid in $RLY over $USDC, which I will reinvest in the community directly through the purchase of Creator Coins.

Funding:

Regarding the compensation for my work I’m looking for 200 $RLY an hour. In turn I aim to have the paper finished by September. Although there are several factors that make it difficult to determine the total number of hours it requires to write a whitepaper (research, feedback, writing, communication, etc.); I estimate between 150 and 200 hours should be sufficient. This puts the total at 30,000 to 40,000 $RLY. Needless to say, the time spent will be documented and throughout the process Kevin Chou and the Rally team will monitor progress, provide feedback and information where necessary.

Thanks in advance for taking the time to provide feedback. I look forward to hearing the opinions of the community!

Regards,

Paul

5 Likes

Hi Paul - Interesting proposal and I certainly share your enthusiasm for the Rally platform. I’m not sure about the utility, or the audience, for a third-party whitepaper this far after the project is already funded, operating, growing and evolving. But perhaps I’m overlooking something. In my own path to understanding the mission and merits of Rally, I reviewed – and revisited – some of the articles on the Medium blog, and elsewhere, to help me comprehend it all.

Below are what I consider some of the key articles to date, the “greatest hits” perhaps, in hopes it helps any others just discovering or digging deeper into the Rally ecosystem. All that said, I think there is much to consider for the future and all the possibilities and opportunities ahead; that’s where I focus my energy. I look forward to seeing what you come up with.
-Robb

2020.07.02 - Introducing Rally: Building New Ways for Content Creators and Fans to Thrive - by Kevin Chou

2020.07.06 - Tokenizing Content Creator Economies: An Introduction to Rally Network - by Amit Ranade
https://medium.com/rallynetwork/tokenizing-content-creator-economies-an-introduction-to-rally-network-5b7de1133695
Plus: https://wiki.rally.io/rally-io/rally-network/token-supply

2020.08.06 - Simplifying Blockchain Technology to Revolutionize How Content Creators and Streamers Earn a Living and Interact with Their Fans - by Mahesh Vellanki
https://medium.com/rallynetwork/introducing-rally-creator-coin-be36d66ef146

2020.08.12 - Creator Coin 101: A Brief Explainer on Rally’s First Building Block - by Amit Ranade
https://medium.com/rallynetwork/creator-coin-101-a-brief-explainer-on-rallys-first-building-block-39d33ead5cf7

2020.10.13 - Introducing Rally Governance - by Mahesh Vellanki


Plus: https://wiki.rally.io/rally-io/rly-token/governance-and-proposals

2021.04.21 - Rally Unveils New Community Activity Rewards to Drive More Potential Revenue for Creators And Reward Coin Supporters - by Kurt Patat
https://medium.com/rallynetwork/rally-unveils-new-community-activity-rewards-to-drive-more-potential-revenue-for-creators-and-501411cfe532

2021.04.28 - Rally Raises $57M For Community Treasury to Fund Community Driven Growth - by Kurt Patat
https://medium.com/rallynetwork/rally-raises-57m-for-community-treasury-to-fund-community-driven-growth-8d856eb734d0

2021.06.01 - A Creator Currency For The Creator Economy: An Interview With Rally’s Bremner Morris - by David Armano

5 Likes

Hi Robb,

Thanks for your reply. It’s a little late here but I just wanted to respond real quick. Regarding the utility and audience, I understand your hesitation however I think that the utility comes the fact that all the information regarding Rally, the protocol, creator economies and so forth is all gathered in one place. This in turn benefits the audience by providing a single source of information as opposed to having to browse for numerous articles that may contain outdated data or are no longer relevant. On top of that, a large majority of blockchain projects have a whitepaper that is frequently updated regardless of their status and funding.

I see where your concern for a third-party whitepaper comes from. A whitepaper should be the ‘official’ whitepaper right? I probably glanced over it in the proposal (will edit tomorrow) but although I will responsible for the researching and writing of the paper; the paper will be written in close cooperation with the Rally team and should thus qualify as the official whitepaper.

Thanks again for your opinion, I hope I managed to address your concerns?

Regards,
Paul

1 Like

Paul - thanks for kicking this off. I’m very excited to be working with you on this.

@Robb - I’m rounding up the core development team to work with Paul on this whitepaper project. We will be pulling together a lot of various threads and doing the final edits. We haven’t had anyone at Rally that has the experience that Paul brings to do this work, so we haven’t tackled even though this has been on our to-do-list since last summer.

I first met Paul when he wrote a research paper on Rally and asked me for my thoughts. It was quite well done, even though I think @Chaosed never published it publicly. I then asked him to help us update our wiki section on tokenomics, which he did a great job on. These two bodies of work, in addition to his detailed proposal here, give me confident that Paul will do a great job.

Why do we need a whitepaper at this point? We often get asked by various people in the crypto community, institutions, other crypto project potential partners, and even a talent agent today, for our whitepaper. It has been somewhat embarrassing not to have a seminal whitepaper we can point people to; I think Paul is the right person to rectify this situation.

Thanks all for your support. Since this whitepaper is for the community, I hope we all give Paul feedback on his drafts and ideas to create a whitepaper we as a community can be proud of!

Kevin

11 Likes

Thanks Paul and Kevin for explaining a bit more on how this will be coordinated. I realized in referencing those various articles that there are both overlaps and gaps between them. Input from the core Rally dev team and community review of a draft would be great. To Paul’s point about outdated data, I’d suggest the white paper be a ‘living document’ that gets updated based on new developments, or revised on some frequency, etc.

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Yep, it’s a great time to put it all together in a well thought out paper

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OOOH - I’d be really interested in reading this if possible :slight_smile:

1 Like

I’d be more than happy to share it with you :grinning:

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I’d like to read it too.

@voicebot & @PhelpsGG; the research paper ready for you. What’s the best way to get in touch with you guys?

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Hi Choased,
I’d also be very happy to read the research paper (actually wanted to do one myself).

Any way to reach you?

Thanks

Hi Idan,

I’ve sent you a PM with my private email address. If you reach out to that address, I can share the research paper with you.

Regards, Paul

1 Like

@Chaosed I’m researching actively on tokenized communities at the moment and I’d love to check out the paper too

Hi @anirudh_twt, my pleasure, what’s the best way to reach out to you?

@Chaosed

I’m interested in reading the research paper. I am new to the community as I started working on $PLAY recently and some Rally related projects but really looking to connect more with people building and bringing interesting ideas to life and see more perspectives from other people in the community.

Hi Paul,

How is the whitepaper progressing? Do you think it will be completed sometime this month or September?

Cheers,

Grand

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Hi guys!

The whitepaper is progressing very nicely. The September deadline is still what we’re aiming for, however we’re working on incorporating the new aspects of Rally discussed here in the whitepaper as well. This may push the deadline back a little bit but we’ll keep you guys posted as we continue making progress.

Regards,
Paul

4 Likes

Hi Paul,

Hope I’m not late to the party :smiley:
I’m researching on NFTs and tokenized communities. I’d be glad to read the research work.

Hi Paul - any updates?

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Hey everyone!

First and foremost, I want to congratulate the community and the RLY team with voting in [PROPOSAL] $RLY Network Decentralization. This is a far reaching and monumental update to the RLY ecosystem - hard work definitely pays off! The effect of the proposal however is that the whitepaper needs a sizable update to include the new ecosystem components. This comes with a need to adjust the deadline too. It is also an opportunity for additional members of the RLY team to provide input for the whitepaper, producing a more informative end product.

As it stands, I’m interviewing RLY team members on their respective projects (Bremner for Rally.io, Weiwei for Rally Asia, Amit for the $RLY Network Association and Gary for SuperLayer Labs) in order to get as much information about the projects as possible. In addition, we’re fleshing out a new format for version 2 of the whitepaper that better reflects the new structure for RLY and the ecosystem. The overall goal herein is to provide a comprehensive paper that explains all the elements of RLY ecosystem and how they relate to the overall goals set forth by the RLY team members and the community.
In terms of an updated timeline, we’re aiming for mid-October, early November. The ambivalence herein lies in the fact that I will be going on a vacation the last two weeks of September throughout which I will not be working on the whitepaper. On top of that, this version of the whitepaper will draw on the input and contributions of a larger number of RLY team members than the previous edition. This requires some additional organizing compared to a smaller team.

Moving forward I’ll provide you guys with updates as to the progression of the paper. If you have any questions or comments, feel free to reach out or leave a comment, I’ll be more than happy to reply!

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