Digital asset platform CoinList recently announced its first liquid token sale and distribution ($RLY).
The CoinList team confirmed that beginning on April 1, 2021, qualified or eligible CoinList users may take part in the $RLY sale and distribution (via the CoinList platform).
CoinList explains that it was “born from the idea of democratizing access to tokens that were once only available to institutional investors.” CoinList adds that teams and communities with liquid tokens usually try to sell large amounts of tokens from their company-held allocations in order to fund grants, pay salaries, and to cover other costs. But, these sales have “gated access and are usually done over the counter, available only to large institutions,” CoinList explained.
The digital asset platform also mentioned that the proceeds from these types of sales usually flow to a centralized platform or organization, instead of going towards the protocol’s community.
CoinList confirmed that it’s teaming up with the Rally community in order to provide the very first liquid token sale and distribution via CoinList. The Rally community “proposed, voted, and approved the terms of this $RLY token sale and distribution and CoinList’s facilitation,” the announcement noted, while adding that proceeds will be flowing “directly to the Rally community treasury, which the Rally community governs and spends on behalf of the Rally Network.”
“We are excited to help democratize access to liquid token sales and further $RLY token distribution on behalf of the Rally community.”
As noted by CoinList, Rally is an Ethereum-powered open platform that lets influencers, artists, musicians, brands, and content creators offer “social tokens,” also called “Creator Coins.” Fans are able to buy their favorite creators’ social tokens in order to access “special benefits (ex. exclusive content, chat rooms and event access) determined by creators.”
“With Rally, creators can grow their audience, reward fans, and build their own digital economies powered by blockchain technology and their own self-branded crypto token, and share an economy directly with their fans. Rally is governed by its native token, $RLY.”
Going on to share why they’re looking forward to developments from Rally, CoinList noted:
- No-Code Token Platform for Easy Adoption – What WordPress “did to make HTML usable for website creators, Rally does to make crypto usable for all creators and fans.” Rally “aims to bring the next 100 million users to crypto.”
- Native Token Design with Built-In Network Effects – $RLY is “the governance token for the network on top of which creators can mint unique Creator Coins.” The growth of $RLY and Creator Coins “create network effects and build on each other.”
- Live Community With 10,000+ Users and 80+ Creators – The $RLY token is “a live ERC-20 token currently traded on the Ethereum blockchain, and the Rally Network has an existing, engaged community that actively participates in governance.”
Note that this offer is NOT available for US, China, and Canada residents and several other jurisdictions.
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