Proposal: Whitelist the iExec RLC token

Proposal to Whitelist the iExec RLC token

This proposal is expected to appear on Snapshot for voting on Monday 19, April 2021 at 12:00 pm UTC.

iExec RLC token contract address: 0x607F4C5BB672230e8672085532f7e901544a7375

Project website: https://iex.ec/

TL:DR Summary:

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!

Project Generic 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.

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: $2.21

All-time high: $4.05 (Jan 12, 2018)

All-time low: $0.153815 (Dec 15, 2018)

Price 90 days ago: $1.03

80,070,793 tokens in circulation

86,999,784 maximum supply

The current market capitalization is $177,796,458

The RLC token is available on major exchanges such as Binance, Bithumb, Bitfinex, Bittrex, Uniswap, Kyber, Upbit, Bancor, 1inch. The 24-hour spot volume is $12,895,793 on Binance.

Available Audits:

iExec conducted third-party security audits for each of its protocol upgrades:

iExec also conducted third-party security audit for its RLC token:

5 Likes

I think this actually might be a really good listing.

3 Likes

Agree, this is a great opportunity for the iExec community to earn passive income on their RLC tokens, with no risk of impermanent loss after 100 days. This is an exciting time in the project’s development, with the launch of their enterprise marketplace and regulatory friendly eRLC tokens.

As someone who has been part of several whitelisting proposals and votes, I urge the iExec community to show their dedication and interest in this proposal by buying/staking BNT, which provides vBNT for the vote. There is also the option to directly purchase vBNT for voting purposes. Whitelisting proposals require a 40% quorum. The only projects that have achieved this threshold thus far accomplished it through their community investing in Bancor’s native token and then voting.

With so few DEX liquidity options, RLC would benefit greatly from being whitelisted on Bancor. I urge those involved to consider coinvestments in BNT, to ensure the vote can pass. It will also help the pool grow, as both BNT and RLC are required to get it off the ground.

To the Bancor community, I hope you will consider this whitelisting proposal. It’s a fellow 2017 Ethereum ICO that continued to build throughout the 2018/2019 bear market, and their plans for enterprise adoption in 2021 may lead to a ton of volume. Enterprise users need to purchase eRLC in a 1:1 swap, so adoption will lead to considerable RLC buying pressure.

4 Likes

I think it would be a good pick. I do like the project.

2 Likes

This needs to happen asap

3 Likes

Partnerships and collaborations
Intel, Alibaba Cloud, Nvidia, EU commision (Ontochain and Data Cloud) + French SEC approves, EEA, CCC, EDF, Chainlink, OpenSSF, OpenFog (now called Industrial Internet Consortium), IBM Cloud, Hyperledger Avalon, Cryptocom, Ubisoft, NCTU, Genesis Cloud, H7, BPI France, Scontain, Shift, Fortanix, TFCloud, Nerdalize, Ubisoft, Cloud & Heat, Stimergy, Flixxo

Does what LINK was meant to do, but couldn’t achieve. iExec RLCs oracles are far superior to LINKs due to them being confidential and they’re just one of literally infinite thing it can do.

Non-technical description

The CEO who is literally the father of grid/cloud computing and has been building iExec RLC for literally 20 years.

2 Likes

Nice work on the proposal. Looks good to me from the outset - I am looking into some specifics about the token shortly but seems fine so far. Hoping to see RLC become a valued addition to Bancor! Thanks for the hard work :heart:

1 Like

All good! No threat to Bancor. Feel free to put this on-chain for voting whenever you like :slight_smile:

3 Likes

Any updates on this?

My vote will be a clear FOR

Please reformat this proposal according to the whitelisting template:

Looks like a really good project, I love the decentralized computing power solution and think its among one of the best uses of decentralization.

1 Like