Update to Creator Coin Vesting Schedule

Summary/Abstract

On May 16th of 2021, the Rally Community approved a proposal to create a new linear token bonding curve to complement the sigmoidal curve. The newly proposed (or “expanded”) curve, had updated token supply, slope, and vesting requirements for creator genesis coins.

After seeing the performance of the coins launched on the expanded curve over the last few weeks, we believe an update is necessary to the creator genesis coin vesting requirements. The current vesting schedule tends to be too restrictive and does not give the creator a large enough % ownership in their economy, flexibility with free token distribution or stake in potential community activity rewards.

This proposal recommends the below update to the creator genesis coin vesting schedule. If approved, this vesting schedule change would apply to new creators launched on the expanded curve as well as retroactively to existing creators already on it.

New Proposed Updated Vesting Schedule for Creator Genesis Coin:

• 50k creator coins unlock immediately
• Additional 3% of supply unlocks each month through end of year 3
• Vesting begins immediately, no 6 month cliff
• All coins unlocked in the genesis supply will be subject to flow controls
• Vesting will also be capped so a creator won’t vest more than 30% of the total circulating supply at any point (i.e. in order to unlock all 5MM coins in the genesis supply, creator must garner enough support for 16.7MM+ coins in circulation.)

Forum post for reference:

https://forum.rally.io/t/proposal-expanded-tbc-vesting-schedule/1190

Proposal

A Yes vote for this proposal would approve the updates to the vesting schedule as outlined above.

A No vote would result in rejection of this proposal.