Free $RLY for Governance

Today we’re excited to announce a reward for anyone with an existing Rally.io account to participate in the future of Rally Network! Just fill out our Google Form to claim 5,000 $RLY for the purposes of participating in Rally Governance.

As we mentioned in a Rally blog post on October 2, we’re launching the Rally Network ERC-20 governance token ($RLY) on October 15. $RLY has two main purposes:

1. Governance — $RLY holders get to have a say in the future direction of the network by voting on community proposals at vote.rally.io (coming soon). Areas governed by the community include creator approvals/removals, $RLY token grants to the community, managing a community treasury, tech/network upgrades, and more!
2. Bonding Creator Coin to Ethereum — All Creator Coins are bonded to $RLY, which is a cryptocurrency on the Ethereum blockchain, meaning that any time a user purchases Creator Coin using USD, Bitcoin, Ether, or any other currency, Rally’s back-end system is buying $RLY that is tied to that Creator Coin. This enables users to convert Creator Coin to $RLY (which can then be exchanged into any cryptocurrency, and ultimately USD) as the primary method of liquidity on Rally.io.

From now until October 20th @ 12pm PT, anyone with a Rally.io account can claim 5,000 free $RLY by completing this form. Note that this reward is only for existing Rally.io account holders; any new accounts created after the publishing of this blog post (10:00am PT on 13-October-2020) are not eligible for the reward.

You’ll need to provide the following information:

• Rally Network ID — Each Rally.io account has a unique Rally Network ID. You can find this ID by logging in to your Rally.io account and clicking the profile icon in the upper right. Once open, you will see a 32-character alphanumeric code. Click the “copy” icon at the end of this code to copy and paste the code into the form.
• Ethereum wallet address — $RLY is a new ERC-20 Ethereum-based token, so you will need an Ethereum wallet address for us to send you $RLY. If you do not already have an Ethereum wallet address, the easiest way to set one up is to install a Metamask wallet. You will need to copy and paste your public wallet address into the form.

Note: Estimated time to receive your $RLY grant is 1–2 weeks. As $RLY is new, you will need to add the token to an Ethereum wallet that supports all ERC-20 tokens. See this HowTo for info on how to add $RLY, including a few wallets that support all ERC-20 tokens.

Once $RLY is live, we will regularly provide updates and call for votes on programs such as adding/removing Creator Coins via our Discord server. Deeper discussion will take place at forum.rally.io, and proposals and voting will take place at vote.rally.io.

The launch of $RLY marks the start of true community governance for the Rally Network. From this point on, all $RLY community treasury grants, creator approvals/bans (ie, vote whether or not to mint a new custom token for a given creator), management of the Rally Community Treasury, and even network/product development will be at the direction of the community that holds $RLY. The Rally team will serve as an administrator to perform ministerial tasks on behalf of the broader community of $RLY holders, but the Rally community will control the Rally Network starting on October 15, 2020.

We’re also very excited for the creator communities currently on the platform as public interest in $RLY will lead many new people to discover the next-gen Creator Coin communities being built on Rally!

For more on the $RLY governance token, check out this blog post.