We’re excited to announce that the Rally’s liquid token sale and distribution on CoinList has added more than 40,000 new token holders to the Rally community, with more than $22 million in RLY tokens purchased in less than 3 days.
CoinList was born from the idea of democratizing access to tokens that were once only available to institutional investors. Projects with liquid tokens often sell large quantities of tokens from their company-held allocations to fund grants, pay salaries, and more. However, these sales have gated access and are usually done over the counter, available only to large institutions. In addition, the proceeds from these sales often flow to a central organization, rather than the protocol’s community.
For this first of its kind event, we collaborated directly with the Rally community, who proposed, voted, and approved the terms of the sale and distribution, and our role as a facilitator.
The first of its kind event drew massive demand, with over 115,000 unique registrants and a record 40,000+ participants, highlighting the growing demand for social tokens as a means for digital creators to connect with their fans. Proceeds flow directly to the Rally community treasury, which the Rally community governs and spends on behalf of the Rally Network.
We are proud and excited to help democratize access to liquid token sales and further RLY token distribution on behalf of the Rally community, creators, and fans.
Congratulations to the entire Rally community!
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