Community Activity Rewards/Rally Rewards (Rewards V2)
Community Rewards FAQ
Community Activity Rewards are an incentive designed to reward Creator communities who actively participate in Rally. Communities earn rewards based on activity involving their Creator Coin. When rewards are earned by a community, $RLY will be rewarded to the community. For each community that earns rewards, each participant in a community will receive a share of $RLY proportional to their holdings of that community’s coin. The creator as well as fans thus all directly benefit.
$RLY is an ERC-20 governance token on the Ethereum blockchain that enables governance and supports transactions on the Rally Network. Each Creator community in the Rally Network has its own unique Creator Coin, and all Creators Coins are backed by $RLY.
Rewards are calculated by comparing the current week's total $RLY backing of a Coin against the average $RLY backing for the last 4-week period. If a community has more underlying $RLY in the current hour than their previous 4 week hourly average, the square root of the amount of $RLY they have above their previous average will be added to square root of the total of ALL individual communities with $RLY above their 4 week hourly average. The calculation is based on a moving average to minimize any spikes or dips in Creator Coin ownership. The square root operation helps shift some of the rewards to smaller creators who will typically have lower base levels of $RLY backing them.
If the current week's backing is greater than the average backing of the last 4-week period, Rewards are distributed proportionally to that Coin's community. The more of an overall Coin's economy you hold, the more Rewards you will earn.
Below are some example creators and how their rewards would be calculated in a system with 5 creators granting 1,000 $RLY per day per creator, or approximately 208 $RLY per hour (5 * 1000 / 24).
Creator Coin Community Rewards Calculations
No. Some Creator Coins may not be eligible for Community Activity Rewards, either because the Creator has opted out or because the Coin did not meet the minimum activity metrics required for eligibility (measured by looking at a mix of Creator logins, Coin purchases, sends to the Creator, Holder count, and a number of other metrics that indicate a healthy economy).
A Coin can become eligible for earning rewards again by meeting or exceeding the minimum activity threshold. You can check if a Coin is earning rewards by clicking the the Activity panel on their page, and scrolling to the rewards section of the page.
Yes, a person can help earn rewards for every community whose Creator Coin they own.
No, if an account is suspended for any reason, that account is not eligible to earn rewards during the term of the suspension.
Community Activity Rewards come from the Network Usage Rewards allocated pool of $RLY.
50% of all $RLY is allocated for general Rally Usage Rewards, including Community Activity Rewards. This bucket is intended to be allocated by the $RLY Network governance community to launch, grow, and scale Rally. Rally Rewards will be distributed over a period of 8 years.
Previously, the awarded $RLY was not distributed to individual users, but instead used to add additional backing to the community’s Creator Coins, increasing the underlying value of the Creator Coin and benefiting the community as a whole. Rewards are now distributed directly to community members as $RLY. The earned $RLY can be put back into the community at Creator Coin holders’ discretion. This change was passed in March 2021 by the community - read more on that proposal here.
When new creators are added to Rally.io, more $RLY will be added to the rewards pool for weekly distributions. For the first 100 creators, each time a creator is launched and live on Rally.io, the Community Activity Rewards will increase by 1,000 $RLY per day. When creators 101-200 are launched on Rally.io, each launched creator will increase the rewards by 900 $RLY per day. This trend will continue until we have 1000 creators on board. From there, each additional 100 creators will reduce the additional rewards slightly until we reach 10,000 launched creators with a pool of 1,000,000 $RLY being distributed for Community Activity Rewards daily.
A table summarizing this information is below.
Daily RLY Rewards vs. Creator Count Chart
In March 2021, the community passed a proposal to upgrade and continue iterating on the Community Activity Rewards (CAR) program (read the proposal here). One aspect of the proposal granted the ability to change the current rate of the CAR schedule (see above) by 1x-4x in order to find the right level to reward active participation and usage with new creators being added to the network. The multiplier is determined by the RLY Network Association (RNA) and can be changed for any CAR period based on regular reviews of Rally.io activity by the RNA.
In the Community Activity Rewards module, an Annual Percentage Yield (APY) number is displayed. This APY is calculated as follows: At any given hour of the week, we calculate the average hourly reward this community has earned so far this week. This average hourly reward is then divided by the total amount of RLY that is backing this Creator Coin and multiplied by the number of hours in a year.
For example, a community has earned 25 RLY in Hour 1 and 75 RLY in Hour 2 for an average of 50 RLY per hour so far. At the time of the Hour 2 reward calculation, there was 100,000 RLY backing all of that specific Creator Coin. Thus (50/100,000) * 24 hrs * 365 days = 4.38 = 438% APY.
Rewards will be distributed on Sundays starting at 12AM UTC, and spread over a period of several hours, $RLY rewards will be distributed to each Creator Coin community that earned rewards. Each individual community member will receive their share of $RLY reward in a random order after the distribution begins. Users who own multiple creator coins will receive their share of rewards for each coin at separate times.
The new rewards system went live on 4/3/21.
Yes - there is a “Rewards” tab added to each Creator Coin page where you can see your pending $RLY rewards, total $RLY rewards, and a rewards activity feed to see your total reward history. For now, this would be viewable on every Creator Coin page you hold coins for and we are working on adding this to your portfolio view.
On every Creator Coin page, when you hold any amount of that coin, if you go to the Rewards tab, it will show you “My Rewards %” which calculates the amount of coin you currently own against the total circulating supply of that coin at the time you load the page. If you own multiple Creator Coins, you will need to go to each Creator Coin page to see that amount.
Yes - the pending rewards amount at the time of the rewards distribution will be the amount that gets deposited in your account.
No - the underlying calculation of how network rewards work is still looking at the current amount of $RLY backing a Creator Coin against the average $RLY backing over the last 4 weeks. It is not about the percentage growth but the volume of coin growth week over week.
Rewards are calculated by looking at the amount of a particular coin you own on an hourly basis over a weekly period. For every hour of that week, you are accumulating credit and the amount can vary if you purchase more coins, sell some coins, etc. At the end of the week, that accumulated amount is then totaled up and distributed among coin holders.
Starting on 4/10/21, anyone who has earned rewards will receive their distribution in random order. If you own 3 different Creator Coins for example, you may get your rewards for coin #1 at 6pm PST, rewards for coin #2 at 8pm PST, and rewards for coin #3 at 11:30pm PST. When you receive your rewards is not a reflection of the amount or prioritizing some coins over others - our distribution system will be processing a randomized list and the overall time it takes to get through that list will depend on how many transactions we need to process.
Active community feedback has already led to improvements and we hope it continues to do so.
Date | Section | Notes |
|---|---|---|
24-JAN-2022 | Rewards eligibility | Added note that not all Coins are eligible for rewards at all times, and that Rewards on some Coins have been turned off. |
16-DEC-2021 | Update to "multiplier" question in FAQ | Added: "The multiplier is determined by the RLY Network Association (RNA) and can be changed for any CAR period based on regular reviews of Rally.io activity by the RNA." |
| | |
Last modified 1yr ago