Rally is a blockchain-based platform designed to enable creators, artists, sports athletes, and businesses to create their own cryptocurrencies, known as "Creator Coins." This platform aims to enhance audience interaction and engagement. The project involves prominent personalities in the creation and management of digital economies, utilizing tokens to support and monetize their communities.
Rally functions by leveraging the RLY Protocol, a web3 mobile toolkit, which facilitates end-to-end on-chain experiences on native mobile apps. The platform operates on the Ethereum blockchain using the ERC-20 token standard for its native token, RLY. It utilizes Ethereum's Proof of Stake (PoS) consensus mechanism and employs Token Bonding Curves (TBC) to algorithmically determine the price of Creator Coins, managed through smart contracts.
Rally has various potential use cases, including:
Rally was founded by Kevin Chou and Mahesh Vellanki, with a background in computer games and technologies. It launched its token $RLY through an ICO on April 28, 2021. Key developments include the introduction of the RLY Protocol and a revamped website focused on creator-first branding. The ecosystem expanded to support multiple blockchains and includes projects like Rally.io and Taki, enhancing its market presence and fostering community adoption through various consumer applications.