This proposal is expected to appear on Snapshot for voting on 2021-09-05T12:00:00Z. Make sure to stake your vBNT for voting before this date and time to participate in the DAO decision.
TL;DR
- Proposal to whitelist iExec RLC (RLC)
- Proposed co-investment is 200K BNT.
- There are no apparent security concerns that would prohibit whitelist status.
- iExec is a decentralized marketplace for cloud resources
iExec RLC token contract address: 0x607F4C5BB672230e8672085532f7e901544a7375
Project website: https://iex.ec/
Token Security
RLC does not have an elastic supply or rebase mechanism. The token contract looks to implement the standard OpenZeppelin libraries.
RLC currently has a 86,999,784 fixed supply of which 71,332,547 are circulating. The contracts and addresses with the highest concentration of RLC tokens are exchanges (rank 1, rank3, rank5, rank8), team member address (rank 2, rank 4, rank 6), the rest appear to be regular user wallets potentially (rank 7, rank 9, and rank 10).
Project:
iExec is a decentralized protocol allowing for the buying and selling of computing resources in a fully decentralized way. Since 2017, the iExec project has been building a marketplace for cloud computing resources - servers, datasets, and applications. Anyone can buy and sell computing resources in exchange for the native iExec utility token ‘RLC’. Additional features of the iExec protocol allow for confidential computing, NFT asset tokenization of computing resources, secure decentralized oracles (secured using TEE), and much more!
Description:
iExec has developed the first decentralized marketplace for cloud computing resources. Blockchain is used to organize a market network where users can monetize their computing power, applications, and datasets. By providing on-demand access to cloud computing resources, iExec supports compute-intensive applications in fields such as AI, big data, healthcare, rendering, or FinTech.
The iExec network is made up of computing resource providers. Computing power providers are called ‘iExec Workers’. As workers, users can connect their machines and be rewarded in RLC tokens for contributing resources to the network. Application providers can monetize their applications and algorithms. Data providers who own valuable datasets can make them available for use by applications through iExec. The iExec consensus protocol ‘PoCo’ (Proof of Contribution) provides consensus over off-chain computing and can also be used to integrate decentralized oracles with iExec.
One of the main strengths of iExec lies in trusted off-chain computing. Its representative heads the ‘Trusted Compute Working’ group within the Ethereum Enterprise Alliance. It has partnered with Intel to release a ‘trusted compute’ solution for blockchain (TEE using Intel SGX). Other iExec collaborators include Alibaba Cloud, IBM, Genesis Cloud, EDF electrical utility company, EEA, and Ubisoft. iExec was one of the contributors to the Trusted Compute Framework (Hyperledger Avalon) alongside Microsoft, Intel, ConsenSys, Envision, PegaSys, and Kaleido.
iExec is working with various organizations and consortiums to provide scalable, secure and easy access to the services, datasets, and computing resources.
The ‘RLC’ utility token:
‘RLC’ is the native token to iExec. RLC are ERC-20 standard tokens. The RLC is a utility token, used to buy and sell resources provided through iExec. On the iExec Marketplace, it is the sole method of payment between application providers, server providers and data providers. Anyone can earn RLC tokens by trading these computing resources on the iExec marketplace. As the iExec network is fully decentralized, no single agent is trusted by default, and that those agents require incentives to contribute correctly.The RLC token is ‘staked’ as a security deposit, in iExec’s consensus protocol ‘Proof-of-Contribution (PoCo)’ is the protocol used by iExec for consensus over off-chain computing.
Community and Communication
The iExec team is active and interacts with the community on various discussion channels such as Telegram, Slac, Kakao Talk, WeChat. The iExec team also runs various communications channels such as the iExec Twitter, the iExec Youtube channel, the iExec Blog, the ‘iExec Academy (content and tutorial aggregator), and the Adoption Roadmap.
iExec Smart Contract and middleware developments can be viewed on Github
Details of iExec executive, development, and business teams can be seen on the ‘About Us’ page of the iExec website.
Video: iExec 2-minute Introduction: iExec: The Decentralized Future of Cloud Computing - YouTube
RLC Market Data
iExec RLC price at the time of writing: $4.48
All-time high: $15.51 (May 10, 2021)
All-time low: $0.153815 (Dec 15, 2018)
Price 90 days ago: $6.33
80,070,793 tokens in circulation
86,999,784 maximum supply
The current market capitalization is $317,844,568
The RLC token is available on major exchanges such as Binance, Bithumb, Bittrex, Coinbase, Uniswap, Sushiswap, Balancer, and Upbit. The 24-hour spot volume is ~$13M on Binance.
Available Audits:
iExec conducted third-party security audits for each of its protocol upgrades:
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Security audit for iExec version 2 (public link) - (conducted by Chainsecurity)
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Security audit for iExec version 3 (public link) - (conducted by Chainsecurity)
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Security audit for iExec version 5 (public link) - (conducted by Consensys Diligence)
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Security audit for the integration of Uniswap into iExec version 5 - (conducted by Consensys Diligence)
iExec also conducted third-party security audit for its RLC token:
- Security audit for iExec RLC token (public link) - (conducted by OpenZeppelin)
