What is Rally (RLY)? How to Buy RLY Token in India?

What is Rally (RLY)?

Blockchain is still a relatively new technology and a rapidly evolving one. It’s a mix of various technical concepts that can prove daunting even for those with technical expertise. Security apprehensions, lack of comprehensive resources, and user-friendliness create an entry barrier for new users. Rally is an open-source multi-chain protocol trying to simplify blockchain integration and its applications for both developers and users. It offers a modular suite of development tools and SDK for developers to easily create new apps or integrate blockchain into existing applications.

RLY is an ERC-20 based native token used for bridging blockchain to Rally protocol powering the economy of apps. It makes the whole process of launching and tokenizing apps much simpler through the RLY token faucet that lets you put some initial crypto funds into your users’ accounts. This means users can start making transactions on the blockchain right away, without any waiting around, giving them a smooth and speedy experience.

Who are the Founders of Rally?

Rally protocol was co-founded by Kevin Chou and Mahesh Vellanki in 2020 and is currently run by RLY Network Association, a non-profit organization. Chou is a venture capital investor who has founded companies such as Kabam- online gaming, Forte, and SuperLayer. Mahesh has a vast background in finance and has previously worked at Citi Bank, Redpoint Ventures, and NBC Universal.

How does Rally (RLY) work?

Rally offers three main tools for developers to build user-friendly and secure blockchain applications, as follows:

• Rally Mobile SDK: One of the primary problems addressed by the SDK is the need for developers to surrender control over the user experience to third-party apps. With the SDK, developers can create a native and familiar mobile user experience while maintaining full control over the app’s functionality and interactions with the blockchain.
• Hosted Transaction Infrastructure: Typically, users need to acquire native tokens or deal with transaction costs while participating in blockchain apps. Rally removes the hassle of gas fees through hosted transaction infrastructure that allows developers to sponsor gas fees on behalf of users. This streamlined process encourages user engagement by reducing friction. 
• Token-bonding Curve: This feature lets developers craft custom token-driven systems within their applications. Devs can design and implement customized token economies within their apps, giving flexibility in defining token distribution, rewards, and engagement mechanisms.

What makes RLY Unique Use Cases?

• Rally eliminates third-party integration needs from blockchain applications, giving an improved and fast user experience.
• Users can participate in apps without holding or paying gas fees to buy the native crypto of the project.
• Some of the projects running on the RLY network include unite, joyride, super layer, shoptoken, NFT scribe, and more.

Rally (RLY) Price Analysis

• RLY price today is trading at $0.007099, with a 24-hour trading volume of $2.21 million. In the last 24 hours, The RLY price has gained over 9.60%, and its market cap is $35.55 million as of August 14, 2023.
• RLY price gained more than 200% at the beginning of the year, but it soon plunged and has been in a bearish state since then.
• It recently touched a YDT low of $0.006173. Yet, a potential turnaround could happen if RLY price surpasses its 50-day moving average, indicating a possible recovery.

How to Buy RLY Tokens in India?

To buy RLY Token in India, just follow the below mentioned steps:

• Download the Crypto App for Beginners
• Enter the details for registration.
• Complete KYC
• Once your profile is verified, add funds and buy RLY Tokens.