# V1 Token Bonding Curve (TBC) Design on Rally.io
## Overview
The first TBC we launched in October 2020 was the Sigmoidal (S-curve) and it was designed for mid-size communities and allowed Coin prices to increase with lower Coin purchase volume required. As a result, coin prices on this curve may be more volatile and require more frequent adjustments to maintain a stable price for goods & benefits.
| | **Version 1** |
| ------------------------------------ | --------------------------------------------------------- |
| **Shape of TBC** | Sigmoidal |
| **Genesis amount** | 50K (24%) |
| **Total token supply** | 210K |
| **Total $RLY backing possible** | 30M |
| **Starting price** | Current price of $RLY |
| **Max $RLY / Coin** | \~600 $RLY / CC |
| **Vesting period of genesis tokens** | Over 10 months - vesting at approximately 10% per month\* |
### Detailed Breakdown of the V1 TBC
Below is an illustrative example of the V1 TBC:
The initial segment of the curve labeled ‘A’ effectively represents a supply floor. Upon instantiation of a new Coin, we mint the first 50,000 coins with a small amount of liquidity. These coins go to the corresponding creator (known as the genesis supply) and ensure that they have the ability to own a large percentage of the Coin supply at all times, with the intention of motivating creators to behave in ways consistent with the long term value of their Coin economy.
As we progress into section ‘B’, we start to gradually increase slope. At this stage, the liquidity pool begins to build, and leveraging the automated market maker to buy and sell quantities of Coins without quickly dropping below the effective supply floor is now possible. Additionally, the gradual build of the liquidity pool creates an opportunity for early adopters to acquire a meaningful share of their favorite creator’s Coins for a relatively modest price.
Within segment ‘C’, we see our largest slope increases. We designed the curve with the intention of arriving in this segment when we start to see a similar amount of activity in the new tokenized economy that our first batch of creators were typically seeing on an annual basis in their existing economies. At this point, price and liquidity increase or decrease rapidly in response to demand and the relative volatility creates opportunities for interesting interactions around Coins and the digital assets they support.
Lastly, in segment ‘D’ we arrive at a leveling off of price increases and hit our effective supply cap of 210,000. The price limitations at the high end of the curve should help discourage unchecked speculation and limit the Coin supply to levels consistent with expectations around appropriate economic interactions between our initial cohort of creators and their fans.
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