Community Treasury Proposal: CoinList Distribution

Summary/Abstract: Proposal to enable up to 40M $RLY, previously allocated for distribution through the Community Treasury Fundraise, to be distributed through CoinList.

• Proceeds from the distribution through CoinList will be directed to the Community Treasury, following payment of CoinList’s fees.
• This distribution will be made to non-US crypto audiences to increase the reach of and participation in the Rally Network.
• Discourse discussion available here: https://forum.rally.io/t/additional-distribution-opportunity/432/12

Background: As the Community Treasury Fundraise wraps up, the Community was able to raise a significant amount for the treasury without tapping into the full 500M $RLY originally approved for distribution through the fundraise. CoinList (coinlist.co) provides a platform for digital asset companies to distribute their tokens to non-US parties who are interested in becoming a part of new token protocols and ecosystems. CoinList prides themselves on compliant distributions, focusing on crypto-savvy audiences outside of the US, and carefully vetting all parties through Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance processes.

Proposal This proposal will authorize CoinList’s distribution of up to 40M $RLY previously approved for distribution through the Community Treasury Fundraise.

The terms are as follows:

• Up to 40M $RLY will be distributed by CoinList to non-U.S. parties at a negotiated price based off the reference price, calculated as the 15-45 day trailing average price of $RLY. CoinList will determine the appropriate trailing day range based on prevailing market conditions.
• A 6-month lock up period will apply for each transaction, during which $RLY purchased may not be traded. In addition, $RLY will be subject to a 12-month release schedule on a monthly basis in equal amounts, subject to the lock-up, such that the first 6 months of released $RLY will become available 6 months after the transaction date, and all $RLY sold in the transaction will be fully released 12 months following the transaction date.
• A maximum purchase amount per purchaser of USD$1000 worth of $RLY will apply.

A Yes vote for this proposal would accomplish the following:

• Appoint Rally Genesis Team to enable CoinList to receive up to 40M $RLY from the Community allocation on behalf of the Rally community for distribution. Any undistributed $RLY will be returned to the Community allocation.
• Authorize CoinList to provide services to effectuate the CoinList distribution through the CoinList platform pursuant to the terms outlined above, including providing technology services to effectuate the process, and preparing and entering into any necessary documentation. Following the completion of the distribution, and payment of standard fees to CoinList for its role effectuating the distribution, CoinList will transmit all proceeds from the distribution to the Community Treasury wallet address: 0x076C129ea5Ba0Beb79356f8C226c813Eceb69993

A No vote would result in rejection of this distribution.