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Rally

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Discover Rally's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Rally?

Rally (RLY) is an ERC-20 governance token that powers the Rally network, enabling content creators to launch fully customizable tokens and digital economies. It allows creators to monetize their following without transaction and platform fees, fostering direct connections between creators and supporters. The token also provides community activity rewards and incentivizes engagement on the platform.

How is Rally used?

Rally (RLY) is a cryptocurrency that powers the Rally network, enabling content creators to launch fully customizable tokens. These tokens, known as Creator Coins, allow creators to monetize their following without transaction and platform fees, fostering direct connections between creators and their supporters. The RLY token also provides community activity rewards, incentivizing engagement on the platform.

How do I store Rally?

To store Rally (RLY) tokens, you can use a secure and user-friendly wallet like Guarda. Here are the steps to follow:

  1. Create a Guarda Wallet:

    • Download the Guarda app from the Apple AppStore or Google Play, or install a desktop wallet.
    • Create an account on Guarda and set a strong password.
    • Save your wallet backup securely.
  2. Add Rally (RLY) to Your Wallet:

    • Open the Guarda app and tap the "Receive" button.
    • Paste the generated address or scan the QR code when sending coins from an external wallet or exchange to Guarda.

Guarda is a non-custodial wallet, meaning you hold your own keys and have full control over your funds. It offers robust security features, including fingerprint authorization and PIN code, ensuring your crypto and personal information are safe.

How to buy Rally?

To buy Rally (RLY) tokens, you can follow these steps:

  1. Choose an Exchange:

    • MEXC: Open an account on MEXC, pass KYC (Verify Identification), and click on the “Buy Crypto” link. You can buy RLY directly with a credit card, or use a stablecoin like USDT to purchase RLY on the spot market.
    • Gate.io: Gate.io is another exchange where you can buy RLY. The current price is $0.011791 with a volume of $35,483.
    • UPbit: UPbit is another option, with a current price of $0.01205 and a volume of $121,258.
    • Bitfinex: Bitfinex also lists RLY, with a current price of $0.011785 and a volume of $6,615.12.
  2. Set Up Your Wallet:

    • Trust Wallet: If you prefer a decentralized exchange (DEX), you can use Trust Wallet. Download the wallet, set it up, and buy ETH as your base currency. Then, send the ETH to your wallet and connect it to a DEX like 1inch to trade for RLY.
  3. Purchase RLY:

  • MEXC: On MEXC, you can buy RLY directly with a credit card or use a stablecoin like USDT. You can also use their peer-to-peer service or instant deposit via SEPA.
  • Rally.io: On Rally.io, you can buy RLY using debit/credit cards or cryptocurrencies like Bitcoin and Ethereum. There is a $500 limit per transaction for debit/credit cards, but no limit for cryptocurrency purchases.
  1. Trade and Manage:
    • MEXC: After buying RLY, you can hold it in your MEXC account wallet, send it to another wallet, or trade it for other cryptocurrencies. You can also stake it on MEXC Earning Products for passive income.
    • Rally.io: On Rally.io, you can convert RLY to other creator coins or use it to purchase other coins.

Remember to follow the specific guidelines and fees associated with each exchange and method.

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History of Rally

Rally (RLY) is a cryptocurrency that powers the Rally ecosystem, a platform designed to enable content creators, artists, and brands to launch their own social tokens and NFTs. The platform aims to create autonomous digital economies for these entities, allowing them to monetize their following without transaction and platform fees.

Founding and Early Development

Rally was founded in 2018 by Kevin Chou, a Berkeley graduate who previously started gaming companies Gen.G Sports and Kabam Games. Chou has since stepped down as CEO and has been replaced by Bremmer Morris, a former employee at Patreon.

Key Milestones
  • August 2020: The first 10 creator coins of Creator Coin’s beta program were released.
  • October 2020: Rally launched and debuted the Rally Network’s decentralized governance.
  • November 2020: Community Activity Rewards were introduced at the Rally.
  • April 2021: Over 100 creators had released creator coins, and Rally revealed new community action awards. Additionally, Rally disclosed a $57 million community treasury fund drive.
Token Distribution

The Rally token (RLY) is an ERC-20 utility and governance token. The token distribution is as follows: 20% was set aside for treasury, developers, technical partners, and liquidity providers; 15.3% for seed investors; 14.3% for the team and advisors; and the remaining 50% was reserved to appreciate the community for its contributions to the network.

Current Status

Rally is guided by a talented team with experience in the creator economy and is supported by notable venture capital firms and angel investors. The project is known for its low environmental impact and minimal fees, making it an attractive option for creators and communities looking to monetize their following.

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How Rally works

Rally (RLY) is a social token protocol that enables creators to launch customized social tokens and build individual economies around their work. Here's how it works:

Creating a Token

To create a token on Rally, a creator must first sign up on the Rally website or log in with their Twitch account. They then need to purchase RLY tokens on an exchange like Coinbase, Uniswap, KuCoin, Bithumb, or Huobi. These RLY tokens must be bridged onto the Rally sidechain to buy Creator Coins. Alternatively, Creator Coins can be bought directly on the Rally sidechain using crypto or a credit card, with each credit card transaction limited to $500.

Token Bonding Curve

The tokens are traded along a linear token bonding curve designed to support larger communities and fractional liquidity pools. The curve ensures that the token supply is capped at 21 million, with a genesis amount of 5 million. The starting price is 1% of the current RLY price, and vesting is capped to prevent creators from vesting more than 50% of the total circulating supply at any point.

Community Activity Rewards

Rally incentivizes active participation through community activity rewards. The more active a community, the more rewards it earns, with each participant receiving a share proportional to their holdings. Rewards are calculated by comparing the current week's total RLY backing of a Creator Coin against the average RLY backing for the last four-week period.

Tokenomics

The tokenomics of Rally are designed to support the network and its users. 50% of the RLY supply is set aside for network rewards, while the remaining 50% is distributed among seed investors, the team, advisors, sidechain operations, treasury, liquidity mining, and various partnerships.

High-Profile Creators

Rally has attracted high-profile creators, including HLTH community, Joe Pulizzi, Keisuke Honda, Gary Henderson, and Allie Strasza. These creators use Rally to build individual economies around their personal tokens and NFTs, fostering deeper connections with their fans and communities.

Decentralized Governance

Rally is a decentralized project, with a community treasury and RLY grants approved by the community. This ensures that the platform is governed and developed in a way that benefits its users.

Trading and Storage

RLY tokens can be traded on various exchanges and stored securely using wallets like Gemini Wallet, which is ISO 27001 and SOC 2 Type 2 certified for high security standards.

Overall, Rally empowers creators to monetize their following without transaction and platform fees, providing a direct connection between creators and supporters through their own independent digital economies.

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Rally's strengths

The token Rally (RLY) has several strengths that contribute to its value and potential:

  1. Decentralized Network: Rally operates on a decentralized network, allowing creators and communities to build their own independent digital economies. This decentralized structure ensures that all decisions are made by the community, for the community, and in the community.

  2. Low Environmental Impact: Unlike other coins with high hazard rates, Rally has a low environmental impact, making it a more sustainable option.

  3. No Transaction or Platform Fees: Rally does not charge any transaction or platform fees to either creators or their communities, which helps to maintain a direct connection between creators and their supporters.

  1. Security: Rally takes security seriously and has a series of measures in place to ensure safety. It is backed by prominent investors such as a16z Crypto Investments, Coinbase Ventures, and Twitch founders, and the original project team brought decades of industry knowledge from gaming, streaming, and entertainment companies.

  2. Easy to Operate: Rally requires no crypto knowledge to manage, buy, or sell, making it accessible to a broader user base. Fans can buy coins within minutes using a credit card, gaining exclusive access and benefits with their creators.

  3. Multi-Utility Token: The RLY token has four main utilities: earning passive income through liquidity provision, participating in community roles, serving as a medium of exchange for creator coins, and allowing holders to vote on community updates and proposals.

  1. Community Engagement: Rally offers community activity rewards, incentivizing creators and members of their creator coin community to be active on the platform. This fosters a strong sense of community and encourages engagement.

  2. Celebrity Support and Endorsements: Rally has received support and endorsements from celebrities, which has contributed to its increasing adoption and media presence.

These strengths collectively contribute to Rally's potential as a platform for creators and communities to build their own digital economies.

Rally's risks

Rally (RLY) carries several financial risks that investors should be aware of. One key risk is its volatility, which can lead to significant price swings. For instance, recent price movements have given RLY a high risk score due to past 24 hours of price volatility in relation to volume changes. This volatility can result in substantial losses if investors are not cautious.

Another risk is the potential for manipulation due to limited trading. InvestorsObserver analyzes how much money is required to move the price over a specific period, considering recent changes in volume and market cap. This metric helps evaluate how easily the token's price can be influenced by limited trading activity, which can be a significant risk for investors.

Additionally, RLY, like other cryptocurrencies, is subject to market fluctuations and trends. It can experience both short-term and long-term rallies, which can be triggered by various events such as news stories, changes in government policies, or shifts in economic data. However, these rallies can also be short-lived and may not necessarily indicate a sustained upward trend.

Investors should also be mindful of the general risks associated with investing in cryptocurrencies, including the possibility of getting back less than they invested. Past performance is not a reliable indicator of future results, and asset allocation/diversification does not guarantee a profit or protect against loss.

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Rally's ecosystem

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Rally’s team

  • Kevin Chou: Founder of Rally, a Berkeley graduate with experience in the creator economy.
  • Mahesh Vellanki: Co-Founder & Managing Partner at SuperLayer, a Web3 venture studio.
  • Saad Rizvi: Chief Product Officer at SuperLayer, new to the ecosystem.
  • Ira Lam: Former General Counsel of Rally, now the top lawyer at SuperLayer.
  • Gary Coover: Chief Operating Officer, involved in shaping the formation of Rally’s DAO.

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The fundamental analysis assistant for crypto value investors.

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