As Rally Network continues to grow, several interesting individuals and groups have taken notice and have expressed interest in building substantial businesses on top of Rally. This dynamic is one that we as the community should be super interested in cultivating - by establishing a model for new and independent businesses to be built on top of Rally, we can more rapidly achieve a more fully decentralized state while creating long term network value.
There are two distinct proposals that I’d like to put up soon, with a third to follow. I recommend the following general structure for these “pilot programs”, which we can iterate on over time:
-Small initial $RLY grant
-Scaling $RLY grant tied to project-specific milestone (for example, a $RLY grant tied to project’s outside fundraise)
This structure aligns incentives while keeping things simple. To illustrate, using placeholder numbers, a Rally-focused agency would receive roughly $50k worth of a $RLY grant to get going, and then a variable amount of $RLY tied to an outside fundraise for the agency (i.e. 50% of a $500k fundraise = $250k worth of grants in $RLY). This structure would allow the agency to more easily raise funds to get off the ground, while also providing “skin in the game” before the Rally Community has to fulfill the majority of the $RLY grants. More info on the proposed projects below:
Josh Katz - Rally-focused Music Agency
As an existing Rally advisor for the music vertical, Josh successfully brought on Portugal. The Man and helped guide them towards a successful launch. He is all-in on social tokens and wants to start an agency specifically geared towards bringing big name musicians onto Rally. He is also interested in helping creators launch NFTs with other NFT projects using Creator Coin when this becomes a possibility.
The owners of Sur La Table and One Kings Lane are interested in using a cryptocurrency to reward their loyal customers. These brands have vibrant communities and want to use cryptocurrency to bring that community together in new ways.
- Loyalty system of ~1% crypto-cashback on all purchases
- Crypto gift card, limited to small dollar amounts
- Stake and get a discount on all purchases through the staking period
Cultural Leadership Fund (CLF) - Alternative Financial Network App
Chris Lyons of the CLF brought to us an idea to launch an alternative financial network on top of Rally. The concept is to build a simple-to-use payments app, similar to CashApp or Venmo in user experience, built on top of Rally APIs but powered by a “Culture Coin” for the black community. He feels that while the black community brings immense value to other platforms and social networks, they don’t have much ownership or upside. He is excited about putting together a fundraise to fund the development of a Culture Coin App, along with a core operating team, and working with Rally to launch this “Culture Coin” community token.
More to come on the above projects, and we will also have plenty of room to iterate on these models going forward. Just wanted to start the discussion and get any thoughts/comments from folks as we head into this direction.