[ANN][RLC] iEx.ec blockchain-based distributed cloud announces its Crowdsale

[yassga]

iEx.ec has released the source code for the smart contract that manage the RLC token crowdsale.

The Smart contract has been audited by OpenZeppelin, a reference in security audit. The review is publicly available and can be read on their medium blog. The analysis did not show severe or critical vulnerabilities and all recommandations have been addressed.

To read the full article : https://medium.com/iex-ec/understanding-the-iex-ec-crowdsale-smart-contract-2b5ac5598950

[drays]

@iEx.ec team:

Given the huge amount of free VC money flowing into crypto, and the fact multiple projects recently have reached the cap in minutes after the sale start (like COSMOS, which reached  more than $16M in 30 minutes), I would expect this crowdsale to also last less than an hour after the start, with few huge sized investors eating the whole supply.

However I believe this kind of investment scheme is harmful to a project, as it limits the community, and also creates means to manipulate the price, which is unhealthy for any real project.

To prevent this situation, provide more people with fair chance to invest, and so create a wider distribution, would developers consider taking some measures? I mean particularly the following (as an example):
a) setting a daily cap on investments (for example 1K BTC per 24 hours)
b) limit the number of tokens accepted per single ETH address (for example to something like 50-100K RLC). Sure bigger whaoes can do multiple investments per address, but this limit will slow them down, and allow more people to squeeze in.

Please consider doing this, if you are interested in wide distribution and bigger community vs getting as much money as fast as possible.

[jbrg]

iEx.ec has released the source code for the smart contract that manage the RLC token crowdsale.

The Smart contract has been audited by OpenZeppelin, a reference in security audit. The review is publicly available and can be read on their medium blog. The analysis did not show severe or critical vulnerabilities and all recommandations have been addressed.

To read the full article : https://medium.com/iex-ec/understanding-the-iex-ec-crowdsale-smart-contract-2b5ac5598950

The post even includes photos of cold-storage (we use Ledger wallets) and bank vaults!

Fun fact: banks still can be useful, obviously. 

[yassga]

iEx.ec co-founder talks to Epicenter about why distributed cloud computing is the next big thing https://youtu.be/y_WrkUcNEDQ

[jbrg]

iEx.ec co-founder talks to Epicenter about why distributed cloud computing is the next big thing https://youtu.be/y_WrkUcNEDQ

I just love Epicenter BTC... 

Can you imagine it's already the 178th episode?

If not done yet, I strongly recommend to subscribe their Youtube chan: https://www.youtube.com/user/epicenterbtc

[jbrg]

@iEx.ec team:

Given the huge amount of free VC money flowing into crypto, and the fact multiple projects recently have reached the cap in minutes after the sale start (like COSMOS, which reached  more than $16M in 30 minutes), I would expect this crowdsale to also last less than an hour after the start, with few huge sized investors eating the whole supply.

However I believe this kind of investment scheme is harmful to a project, as it limits the community, and also creates means to manipulate the price, which is unhealthy for any real project.

To prevent this situation, provide more people with fair chance to invest, and so create a wider distribution, would developers consider taking some measures? I mean particularly the following (as an example):
a) setting a daily cap on investments (for example 1K BTC per 24 hours)
b) limit the number of tokens accepted per single ETH address (for example to something like 50-100K RLC). Sure bigger whaoes can do multiple investments per address, but this limit will slow them down, and allow more people to squeeze in.

Please consider doing this, if you are interested in wide distribution and bigger community vs getting as much money as fast as possible.

We've been thinking of ways to avoid the situation you described, including both (a) and (b) solutions. Finally, we decided not to innovate on this for optimal security.

Personally, I don't think (a) can be efficient because you can be sure whales would just come get everything each 24 hours, but (b) is an extremely interesting option to consider : it would allow small investors to express themselves before before hungry whales. As you said, they always can have multiple addresses or even set bots (there are probably ways to counter that as well) but I agree that it would slow them down and make the crowdsale more fair, inclusive and community-friendly.

Do you know if i has been implemented on any other project?

As I said, we've been talking about this months ago. Now we're proceeding to the last tests and verifications on the smart contract so it certainly wouldn't be reasonable to change anything at this stage. 

[marechoux]

Agree that you should stick with actual smart contract and not do upgrade anymore.

Actually I think even a centralized crowdsale would have been better in order to avoid any risk linked to smart contract.

Smart contract is a wonderfull technology, but still very young, maybe to collect 12 millions dollars it would have been better to avoid a smart contract...



Besides, could you confirm that we can send ether with ledger nano S? I think it has already been discussed but just want to be 100% sure

[yassga]

The iEx.ec team asked Open Zeppelin to review and audit the new RLC token contract code. Manuel Aráoz (editor of Open Zeppelin) and his whole team looked at our contracts and now published the results.

https://medium.com/zeppelin-blog/iex-ec-rlc-token-audit-80abd763709b

[BETAWI]

I heard that your private sale of IEX,and then fired Cathy.This morning somebody call me and let me dont invest IEX,what is wrong with your team?

Hello, yes, I confirm that Cathy left the team.

VERY IMPORTANT, we don't do PRIVATE SALE !
If someone call you and collect money on our behalf.
WE DON'T DO THAT !

Be aware of scammers !
Be aware of rumors !

People are not all well intentioned. Some are spreading FUD about the project.

Instructions to participate to the crowdsale:

https://medium.com/iex-ec/how-to-join-iex-ecs-crowdsale-198926abe458

If you don't have the knowledge to participate directly on the crowdsale, then the best is to join a platform :
ICOAge, ICO365, Imtoken, Gatecoin. 

The web site is https://crowdsale.iex.ec

Nice clarification,
Honesty to the public is essential to convince potential investors.
Good luck team!

[Chinese Marketer]

I heard that your private sale of IEX,and then fired Cathy.This morning somebody call me and let me dont invest IEX,what is wrong with your team?

Hello, yes, I confirm that Cathy left the team.

VERY IMPORTANT, we don't do PRIVATE SALE !
If someone call you and collect money on our behalf.
WE DON'T DO THAT !

Be aware of scammers !
Be aware of rumors !

People are not all well intentioned. Some are spreading FUD about the project.

Instructions to participate to the crowdsale:

https://medium.com/iex-ec/how-to-join-iex-ecs-crowdsale-198926abe458

If you don't have the knowledge to participate directly on the crowdsale, then the best is to join a platform :
ICOAge, ICO365, Imtoken, Gatecoin. 

The web site is https://crowdsale.iex.ec

Is Cathy wrong? Or you approved her to do so? Not only her, I know the other site also offers such private investment.

[AltCoinExplorer]

Why crowdsale is postponed? I thought that it should be today.

[jbrg]

Agree that you should stick with actual smart contract and not do upgrade anymore.

Actually I think even a centralized crowdsale would have been better in order to avoid any risk linked to smart contract.

Smart contract is a wonderfull technology, but still very young, maybe to collect 12 millions dollars it would have been better to avoid a smart contract...

"Centralized crowdsale", you mean like a Kickstarter or something like that? Nah... Correct me f I'm wrong but I think they take about 7%. Maybe you had in mind more conventional ways of funding like VCs, etc. Conditions are different in this case, potentially even worse than centralized crowdfunding.

Besides, could you confirm that we can send ether with ledger nano S? I think it has already been discussed but just want to be 100% sure

Yes I confirm it. Ledger is probably the safest option. Also, you can connect it with MyEtherWallet so you can check your RLC balance, move your tokens, etc. And it might be even easier in the coming months...  

[meeekz]

Hopefully MEW can handle the volumn. With all the momentum it would be a real drag for MEW couldn't handle the load. This happened with 1stBlood and many were not able to get in.

[drays]

@iEx.ec team:

Given the huge amount of free VC money flowing into crypto, and the fact multiple projects recently have reached the cap in minutes after the sale start (like COSMOS, which reached  more than $16M in 30 minutes), I would expect this crowdsale to also last less than an hour after the start, with few huge sized investors eating the whole supply.

However I believe this kind of investment scheme is harmful to a project, as it limits the community, and also creates means to manipulate the price, which is unhealthy for any real project.

To prevent this situation, provide more people with fair chance to invest, and so create a wider distribution, would developers consider taking some measures? I mean particularly the following (as an example):
a) setting a daily cap on investments (for example 1K BTC per 24 hours)
b) limit the number of tokens accepted per single ETH address (for example to something like 50-100K RLC). Sure bigger whaoes can do multiple investments per address, but this limit will slow them down, and allow more people to squeeze in.

Please consider doing this, if you are interested in wide distribution and bigger community vs getting as much money as fast as possible.

We've been thinking of ways to avoid the situation you described, including both (a) and (b) solutions. Finally, we decided not to innovate on this for optimal security.

Personally, I don't think (a) can be efficient because you can be sure whales would just come get everything each 24 hours, but (b) is an extremely interesting option to consider : it would allow small investors to express themselves before before hungry whales. As you said, they always can have multiple addresses or even set bots (there are probably ways to counter that as well) but I agree that it would slow them down and make the crowdsale more fair, inclusive and community-friendly.

Do you know if i has been implemented on any other project?

As I said, we've been talking about this months ago. Now we're proceeding to the last tests and verifications on the smart contract so it certainly wouldn't be reasonable to change anything at this stage.  

Its a pity you cannot or don't want to handle this problem... Many people will miss the crowdsale, particularly me - regardless of my genuine interest in this project, I have to say goodbye to it, as I have an important job-related appointment exactly at the day/time you plan to start your crowdsale. I am sure, at the point I can get to my PC, the crowdsale will be over already. That's a shame, and it is the opposite of what we could call 'decentralized' or well-distributed.

BTW, the method (a) is better than you think. Even in the most insta-bought project there are some genuine smaller investors who are able to squeeze in their investment inside that 'half an hour window'. If there will be 10 days/chances to invest, much more normal people could have a chance.

As to whether I know another project where anti-instabuy measures have been implemented already - no, I don't know one. But I thought you are going to be innovative, so why not to innovate there and be the first project to implement those measures..?

[Sam San]

@iEx.ec team:

Given the huge amount of free VC money flowing into crypto, and the fact multiple projects recently have reached the cap in minutes after the sale start (like COSMOS, which reached  more than $16M in 30 minutes), I would expect this crowdsale to also last less than an hour after the start, with few huge sized investors eating the whole supply.

However I believe this kind of investment scheme is harmful to a project, as it limits the community, and also creates means to manipulate the price, which is unhealthy for any real project.

To prevent this situation, provide more people with fair chance to invest, and so create a wider distribution, would developers consider taking some measures? I mean particularly the following (as an example):
a) setting a daily cap on investments (for example 1K BTC per 24 hours)
b) limit the number of tokens accepted per single ETH address (for example to something like 50-100K RLC). Sure bigger whaoes can do multiple investments per address, but this limit will slow them down, and allow more people to squeeze in.

Please consider doing this, if you are interested in wide distribution and bigger community vs getting as much money as fast as possible.

We've been thinking of ways to avoid the situation you described, including both (a) and (b) solutions. Finally, we decided not to innovate on this for optimal security.

Personally, I don't think (a) can be efficient because you can be sure whales would just come get everything each 24 hours, but (b) is an extremely interesting option to consider : it would allow small investors to express themselves before before hungry whales. As you said, they always can have multiple addresses or even set bots (there are probably ways to counter that as well) but I agree that it would slow them down and make the crowdsale more fair, inclusive and community-friendly.

Do you know if i has been implemented on any other project?

As I said, we've been talking about this months ago. Now we're proceeding to the last tests and verifications on the smart contract so it certainly wouldn't be reasonable to change anything at this stage.  

Its a pity you cannot or don't want to handle this problem... Many people will miss the crowdsale, particularly me - regardless of my genuine interest in this project, I have to say goodbye to it, as I have an important job-related appointment exactly at the day/time you plan to start your crowdsale. I am sure, at the point I can get to my PC, the crowdsale will be over already. That's a shame, and it is the opposite of what we could call 'decentralized' or well-distributed.

BTW, the method (a) is better than you think. Even in the most insta-bought project there are some genuine smaller investors who are able to squeeze in their investment inside that 'half an hour window'. If there will be 10 days/chances to invest, much more normal people could have a chance.

As to whether I know another project where anti-instabuy measures have been implemented already - no, I don't know one. But I thought you are going to be innovative, so why not to innovate there and be the first project which implement those measures..?

there is one project which is also going to start soon 24.04 and uses the auction trade with the restriction purchase in one unit with smart contracts

it is good to limit Max to buy on the block with one account. it would have helped greater decentralization.

[yassga]

Why crowdsale is postponed? I thought that it should be today.

Here is your answer : "We have taken the decision today to reschedule our RLC token crowdsale to the 19th April 2017 at 13:00 UTC.

The security of your funds is our first priority. To date, we have open sourced the contract, described the security architecture of the crowdsale platform and the code has gone through several internal and external security audits and tests. Open Zeppelin has also openly published the security review of the smart contract, in which no critical errors or vulnerabilities were found, and we have thoroughly applied all their recommendations.

However, we want to go deeper into the process by launching a bug bounty program.

You may be aware that a bug was discovered last week associated with Ethereum that affected the way that tokens are handled by exchanges. In order to ensure the highest levels of security we have decided to push the crowdsale launch back one week to allow time to undertake a more thorough auditing process.

We are committed to our project supporters and to delivering a great product to them — ensuring there is zero risk to crowdsale participants is part of that commitment. So we ask you to bear with us until Wed 19th April.

If you have some programming skills you are invited to participate in our bug bounty program by joining our slack. We reward 50.000 RLC (10BTC) for anyone finding critical vulnerabilities that would prevent the crowdsale to execute correctly.
In the meantime, we will continue to strengthen our presence across the community during this additional week. This includes an interview that we have been looking forward to with Epicenter Bitcoin.

Join our crowdsale on 19th April and help launch the future of cloud computing!

Read on iEx.ec's blog"

[MoneroMooo]

target to have an infrastructure that supports the HPC technology is very good. gives you the confidence to be eth.

i think, demand more from ICO. 

[thepo1m]

Why crowdsale is postponed? I thought that it should be today.

Here is your answer : "We have taken the decision today to reschedule our RLC token crowdsale to the 19th April 2017 at 13:00 UTC.

The security of your funds is our first priority. To date, we have open sourced the contract, described the security architecture of the crowdsale platform and the code has gone through several internal and external security audits and tests. Open Zeppelin has also openly published the security review of the smart contract, in which no critical errors or vulnerabilities were found, and we have thoroughly applied all their recommendations.

However, we want to go deeper into the process by launching a bug bounty program.

You may be aware that a bug was discovered last week associated with Ethereum that affected the way that tokens are handled by exchanges. In order to ensure the highest levels of security we have decided to push the crowdsale launch back one week to allow time to undertake a more thorough auditing process.

We are committed to our project supporters and to delivering a great product to them — ensuring there is zero risk to crowdsale participants is part of that commitment. So we ask you to bear with us until Wed 19th April.

If you have some programming skills you are invited to participate in our bug bounty program by joining our slack. We reward 50.000 RLC (10BTC) for anyone finding critical vulnerabilities that would prevent the crowdsale to execute correctly.
In the meantime, we will continue to strengthen our presence across the community during this additional week. This includes an interview that we have been looking forward to with Epicenter Bitcoin.

Join our crowdsale on 19th April and help launch the future of cloud computing!

Read on iEx.ec's blog"

iEX team made the best decision to put safety first, there is no need of getting something if you can't protect and secure it, a week is a short time in Crypto and I believe the ICO will be a successful one

[jbrg]

Meanwhile, in Shenzhen City, China...









This was iEx.ec April 8th Shenzhen Meetup. Check out the recap & photos

[xlcus]

@iEx.ec team:

Given the huge amount of free VC money flowing into crypto, and the fact multiple projects recently have reached the cap in minutes after the sale start (like COSMOS, which reached  more than $16M in 30 minutes), I would expect this crowdsale to also last less than an hour after the start, with few huge sized investors eating the whole supply.

However I believe this kind of investment scheme is harmful to a project, as it limits the community, and also creates means to manipulate the price, which is unhealthy for any real project.

To prevent this situation, provide more people with fair chance to invest, and so create a wider distribution, would developers consider taking some measures? I mean particularly the following (as an example):
a) setting a daily cap on investments (for example 1K BTC per 24 hours)
b) limit the number of tokens accepted per single ETH address (for example to something like 50-100K RLC). Sure bigger whaoes can do multiple investments per address, but this limit will slow them down, and allow more people to squeeze in.

Please consider doing this, if you are interested in wide distribution and bigger community vs getting as much money as fast as possible.

We've been thinking of ways to avoid the situation you described, including both (a) and (b) solutions. Finally, we decided not to innovate on this for optimal security.

Personally, I don't think (a) can be efficient because you can be sure whales would just come get everything each 24 hours, but (b) is an extremely interesting option to consider : it would allow small investors to express themselves before before hungry whales. As you said, they always can have multiple addresses or even set bots (there are probably ways to counter that as well) but I agree that it would slow them down and make the crowdsale more fair, inclusive and community-friendly.

Do you know if i has been implemented on any other project?

As I said, we've been talking about this months ago. Now we're proceeding to the last tests and verifications on the smart contract so it certainly wouldn't be reasonable to change anything at this stage.  

Its a pity you cannot or don't want to handle this problem... Many people will miss the crowdsale, particularly me - regardless of my genuine interest in this project, I have to say goodbye to it, as I have an important job-related appointment exactly at the day/time you plan to start your crowdsale. I am sure, at the point I can get to my PC, the crowdsale will be over already. That's a shame, and it is the opposite of what we could call 'decentralized' or well-distributed.

BTW, the method (a) is better than you think. Even in the most insta-bought project there are some genuine smaller investors who are able to squeeze in their investment inside that 'half an hour window'. If there will be 10 days/chances to invest, much more normal people could have a chance.

As to whether I know another project where anti-instabuy measures have been implemented already - no, I don't know one. But I thought you are going to be innovative, so why not to innovate there and be the first project to implement those measures..?

Don't so worry, bro.
It may not be what you think that RLC will be sold within one day.