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Rally (RLY) Price

RLY

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About Rally (RLY)

Rally is a blockchain network that allows internet creators such as streamers and artists to monetize their relationships with their fanbases, CoinDesk said.

According to Messari, Rally "enables creators, artists, athletes, and brands to launch their own cryptocurrencies." These Creator Coins are designed 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," Messari said. "Rally aims to fix this problem."

At the same time, the researchers said, 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 NFTs issued by the creator. 

When was RLY created and how much was it worth?

Rally was founded in 2018. In August 2020, Creator Coin launched in beta with the first 10 creator coins.

Two months later, in October 2020, RLY launched, initially changing hands at about $0.50. That same month marked the introduction of Rally Network decentralized governance, Messari said. In November of 2020, Rally announced Community Activity Rewards. By April 2021, the network boasted more than 100 creators with coins. Around that same time, RLY reached an all-time high of $1.40, according to CoinGecko.

How is the price of RLY determined?

A maximum supply of 15 billion RLY was minted at genesis, Messari said. These are considered deflationary in nature and will be released over the course of eight years.

Of the 15 billion, less than 30% was allocated to Rally team members and seed investors while the remainder was allocated to the community. 

Why does RLY have value?

RLY value comes from the crypto protocol abetting application developers to mint social tokens and, furthermore, integrate them into commercial activities.

Is RLY secure?

Token Bonding Curves on the Rally Network allow each Creator Coin’s price and supply to be managed by a unique pricing curve, Messari said. 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.

Additionally, it’ worth noting, RLY runs on Ethereum known for being secure.

What are the main benefits of RLY?

  • Holders of RLY take part in governance through voting, including accepting new Rally creators (who can create proposals), RLY grants and Rally tech/network upgrades, Messari said.
  •  Creators can now offer their fans physical and digital goods and services – including NFTs, exclusive access, content, merch and more – in exchange for their currency, building sustainable, independent economies with their fan communities, SpeedInvest said.
  • Rally leaders have said publicly that there are two very promising immediate benefits for creators. Those being: digital scarcity and direct ownership.

What do critics say about RLY?

That it's not decentralized enough, per a CoinDesk article from 2021. RLY news at that time focused on an initiative to splinter the network.

How to buy Rally (RLY)

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Here’s how fast it is to get started:

1. Go to Uphold.com and click sign up.

2. Enter your email address and personal details. 

3. Click the link we send you and create a password

… and you’re off to the races!

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