Proposal to Launch Community Activity Rewards

Discourse link: https://forum.rally.io/t/proposal-community-activity-rewards/98

Summary/Abstract: Allocate 1,000 $RLY per live creator per day to Community Active Rewards and launch them on or shortly after 11/12, to be distributed weekly to participating communities.

Motivation: Utilize allocated rewards to drive real usage and activity of Creator Coins, Brand Coins, and any other social token on Rally.

Specifications Launch timeline:

• Target launch: 11/12 12pm PT

System Design:

• Hourly calculations per community, comparing current $RLY backing each creator coin to previous 4 week hourly average.
• At launch, each community will start with “0” for initial comparison.
• Take the square root of the difference between current hour and previous 4 week average. Sum all communities with a positive delta, and allocate the proportional contribution amount to each corresponding Creator Coin.

Reward Distribution:

• Distribute the total amount allocated each hour, at the end of each week. Weekly rewards will end Sunday at 00:00 UTC.
• Actual Distribution time will vary pending total number of participants.
• Rewards are distributed in the form of $RLY backing to that community's Creator Coin.

User Interface:

• Each Creator Coin’s detail page will display current allocated rewards in $RLY.
• Countdowns to the next reward allocation, and reward distribution will be displayed.
• APYs will be displayed and calculated each hour for previously allocated rewards during the current week reward cycle.

A Yes vote for this proposal would accomplish the following:

• Approve the Community Activity Rewards design
• Allocate 1,000 $RLY per live creator per day to Community Activity Rewards
• Approve the launch of the rewards live to the community on or after 11/12/2020