eRLC Public Swap Offering
The eRLC is the first digital asset allowing enteprises to exchange cloud resources in a regulated and compliant environment.
iExec obtained a Visa from the AMF (the French equivalent of the SEC) valid from October 13th, 2020 to April 12th, 2021 for its new Enterprise Marketplace token swap offering, allowing enterprises to exchange cloud resources in a regulated and compliant environment. The enterprise adoption facilitated by the AMF visa will also benefit the iExec RLC token economics.
The eRLC token, an Enterprise version of the RLC token
With eRLC, enterprises can interact with the iExec Marketplace for Cloud Computing Resources while being strictly compliant with financial regulations. All owners and funds are verified. Buyers and consumers can use a marketplace that is Know-Your-Customer (KYC), Know-Your-Business (KYB) and Anti-Money-Laundering (AML) compliant.
A unique payment token for enterprises
The eRLC token is the only way to make transactions the iExec Enterprise Marketplace. It’s an ERC-20 compliant digital asset, sitting on the Ethereum blockchain.
A fully compliant token
The eRLC token ensures strict compliance regarding KYC/AML. These strict compliance guarantees offered by the eRLC token are a unique opportunity for enterprises to experiment with crypto within a regulated network and benefit from authentic invoices, that are automatically-generated and quickly-settled.
iExec RLC token current market price
RLC – USD
RLC – EUR
How does the token swap offering work?
Subscribers buy RLC on secondary markets, and escrow their RLC in a smart contract in order to get the same amount in eRLC. This ensures both marketplace’s adoption contributes similarly to the token economic of the RLC token.
What is the Entreprise Marketplace?
The iExec Enterprise marketplace is an open and global marketplace where supply meets demand for IT resources. Mainly designed to address the requirements of companies, the marketplace is also open to individuals. The resources made available on the marketplace can be rented with eRLC tokens between players. There are three types of resources that can be rented in the marketplace:
Cloud Computing
CPU, GPU, Trusted Execution Environment (TEE)
Applications
Blockchain Apps, High Performance Computing Apps (3D rendering, simulations, machine learning)
Datasets
Data, API Keys, AI Models
Values for eRLC users
The marketplace offers considerable advantages for cloud consumers and cloud providers.
Value Propositions for Resource Providers
- Monetize your cloud resources (servers, apps,datasets) and generate revenues
- Rent your resources only to identified consumers (KYC/KYB/AML compliant)
- Freely determine your pricing (no marketplace fees)
- Be guaranteed free and fair competition
- Get paid automatically each time your resources are used (pay-per-task)
- Get authentic invoices for each transaction
- Benefit from transparent monitoring and accounting with blockchain
Value Propositions for Resource Consumers
- Rent all types of computing resources (servers, apps, datasets)
- Pay for what you use (pay-per-task)
- Run your decentralized applications and make them scale
- Run trusted executions for your critical workflows (TEE)
- Run privacy-preserving executions for your confidential use cases
- Rent resources from identified providers (KYC/KYB/AML compliant)
- Get authentic invoices for each transaction
- Benefit from transparent monitoring and accounting thanks to blockchain technology
October 13, 2020
Publication of details of the offering
February 01, 2021
Start of the public swap offering for the eRLC token
April 12, 2021
End of the offering as approved by the AMF
Token
| Token Name | eRLC |
|---|---|
| Legal Token Definition | eRLC are digital assets, qualified as Utility Tokens, as per Article L.54-10-1 of the French Financial & Monetary Code |
| Standard | ERC-20 |
| Blockchain | Ethereum |
| Price | RLC market price |
Token Swap Public Offering
| Legal Authorisation | ICO approved by the French Financial Markets Authority (“AMF”) under AMF Visa Number ICO.20-508. The approval expired on April 12th, 2021 |
|---|---|
| Soft cap | 400 000 RLC |
| Hard cap | 87 000 000 RLC |
| Date of issuance of the AMF visa | October 13th, 2020 |
| Start date | February 1st, 2021 |
| AMF visa expiration date | April 12th, 2021 |
| Exchange ratio of 1 eRLC | 1 RLC |
