Crypto Asset Statement: RLC (iEX.ec)
Last updated: June 22, 2023
About this Statement
CatalX CTS (“Catalyx” or “we”) strives to provide our users with information to assist in understanding crypto assets that are offered for trading on the Catalyx platform (the “Platform”). One of the crypto assets we offer on the Platform is IEX.ec (RLC). This summary sets out certain key information about iEX.ec (RLC) as well as some of the risks involved in trading it. While we tried to describe the key features of RLC here, this summary doesn’t provide all relevant information on RLC. We encourage users to perform their own research in order to understand any crypto asset that they intend to trade on the Platform.
History & Characteristics of iEX.ec (RLC)
iEx.ec is a decentralized computing platform built on the Ethereum blockchain that allows users to make money on their spare computing power by renting it out to others. RLC, which stands for ‘Run a Lot of Computers’, is the native token powering iEx.ec. The platform can be used to power decentralized applications, run off-chain computations or perform a range of other functions. RLC is exchanged for computing power on the platform.
What is iEx.ec (RLC)?
The expanding ecosystem of decentralized apps (dApps) offered by iEX.ec covers a variety of uses in industries like AI, decentralised finance (DeFi), and healthcare. For the purpose of facilitating access to the decentralised computing economy, the iEX.ec product line is constantly creating new protocols. The iEX.ec Marketplace, which enables resource providers and customers to exchange RLC for a variety of computing resources and blockchain-based cloud services, remains the project's main product. Service providers can place sell orders that establish the price at which they are willing to complete the tasks they offer, and end users can place “work orders” that allow their requests to be automatically executed if and when their pre-selected criteria are met by service providers. Individuals and businesses alike are free to use the iEX.ec Marketplace as either a service provider or customer.
This overview provides a summary of certain risks associated with iEx.ec (RLC). We emphasize that this Crypto Asset Statement is not exhaustive of all risks associated with trading iEx.ec (RLC), and in addition, does not take into account an individual’s particular situation or risk tolerance. Purchasers are encouraged to conduct their own research prior to trading any crypto asset on the Platform. Catalyx users should read the Risk Disclosure Statement for additional discussion of general risks associated with crypto assets made available through the Catalyx platform.
Dependence on IEX.ec (RLC) Developers. The future success of the IEX.ec (RLC) network is likely dependent on the ongoing participation in network development by its development team and ongoing partnerships. If these entities cease their support for the network such actions may be detrimental to the project going forward.
Volatility of iEx.ec (RLC). Due to the unanticipated shifts in market sentiment and ongoing partnership announcements that can cause abrupt and rapid price changes, trading RLC has a certain level of risk. It is not uncommon for the value of RLC to change rapidly, either positively or negatively.
Please note that these risks and the associated summaries or overviews provided for each in the Risk Disclosure Statement are not intended to be an exhaustive discussion pertaining to all such risks and, in addition, there may be other risks that come with exposure to iEx.ec (RLC). We encourage all Catalyx users to perform their own due diligence to assess the risks associated with iEx.ec (RLC) and to determine whether this level of risk is acceptable to them.
How Catalyx determines which Crypto Assets to List
Catalyx has established robust policies and procedures to review each crypto asset offered for trading on the Platform. Among other information, we review available public information relating to the crypto asset on the following topics prior to making a determination on whether a crypto asset will be listed:
The history and characteristics of the crypto asset including whether the crypto asset was launched by ICO;
Analysis of the founders or inventors of the crypto asset/related network and a review of their ongoing involvement with crypto asset/network;
How the crypto asset functions including a review of its utility or purpose;
The market liquidity for the crypto asset;
The current and proposed governance of the ecosystem on which crypto asset operates with a focus on the level of decentralization of such ecosystem; and
The position taken by any regulator with respect to the crypto asset including any enforcement action taken against the crypto asset, the related network, or the founders.
In addition to the above we also conduct an analysis of factors weighing in favor or against the crypto asset being deemed to be a security based on Canadian securities laws.
No securities regulatory authority in Canada has expressed an opinion about iEx.ec (RLC) or any of the other crypto contracts or crypto assets made available through the Platform, including an opinion that iEx.ec (RLC) itself is not a security and/or derivative. Changes to applicable law may adversely affect the use, transfer, exchange, or value of any crypto contracts or crypto assets you hold on the Platform.
Certain statutory rights under securities legislation in Canada do not apply in respect of this Crypto Asset Statement.