RLYGBP
Rally / Pound sterling
crypto

Overview On July 21, 2022, the SEC stated that RLY is a "crypto asset security". Note: (1) Messari does not provide financial or trading advice - our services are for informational purposes only; and (2) Messari's services are impersonal - do your own due diligence. Please refer to our Terms of Use for more info. Rally enables creators, artists, athletes, and brands ('creators' for short) to launch their own cryptocurrencies (Creator Coins) to strengthen fan engagement and tap into new monetization opportunities. As it stands, creators have difficulty monetizing their fan base, let alone in a way that is mutually beneficial to fans. Rally aims to fix this problem. At the same time, Creator Coins can be bought by fans and see them rise in value as the creator accrues a larger fan base. Not only does the token accrue in value, but it can also be used to signify a level of commitment/fandom, tiered access to special content, early access or be used to purchase NFT's issued by the creator. Token Bonding Curves. On Rally Network, each Creator Coin's price and supply are managed by a unique pricing curve. These pricing curves define the behavior of an automated market maker (AMM) that provides Creator Coins or liquidity to anyone interested in buying or selling a Creator Coin. Similar to several of the continuous liquidity providers in the DeFi space, all transactions to buy and sell Creator Coins on Rally Network are executed with an automated counterparty that controls a liquidity pool and operates according to a well defined function. Liquidity Staking. 350MM $RLY from the community token allocation have been earmarked for distribution as staking rewards. These are currently allocation across 6 pools: BAL RLY/USDC 90–10 BAL RLY/USDC 10–90 BAL RLY/ETH 90–10 BAL RLY/ETH 10–90 UNI RLY/ETH y3Crv Yield Delegating Vault (aka curve.fi/3pool LP) The current emission rate is 38 $RLY / block or roughly 7.3MM $RLY / month. Each pool receives a share of these 38 $RLY / block based on weights voted by the community. The current weighting is: 13% BAL RLY/USDC 90–10 13% BAL RLY/USDC 10–90 13% BAL RLY/ETH 90–10 10. 13% BAL RLY/ETH 10–90 11. 35% UNI RLY/ETH 12. 13% y3Crv Yield Delegating Vault (aka curve.fi/3pool LP) Sidechain Rally has a portal (Rally.io) to interact with the Rally Network sidechain which enables transactions like bridging out, buying, and selling Creator Coins without the expense of being on the Ethereum mainnet.