This proposal is expected to appear on Snapshot for voting on [date=2021-09-05 time=12:00:00 timezone=“UTC”]. 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!

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: https://www.youtube.com/watch?v=4IESv4BNw8Q

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:

• Security audit for iExec version 2 (public link) - (conducted by Chainsecurity)

• Security audit for iExec version 3 (public link) - (conducted by Chainsecurity)

• Security audit for iExec version 5 (public link) - (conducted by Consensys Diligence)

• 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)