Relay Token Sale Participant Guide
The Relay Stablecoin System public round has begun! Read below for sale details, contribution bonuses, and a walkthrough on how to contribute.
Key details
- Contributions are made by sending ETH to the address at 0xC951f024B8abf73904660b74C24Af2c70079B4F9. Progress can be viewed here.
- Begins September 15 at 0:00 UTC and closes October 15 at 0:00 UTC, or when all tokens have been claimed.
- 375,000 (375k) Relay Tokens (XRL) per 1 Ethereum (ETH). Target contribution cap of 2000 ETH for 750m XRL allocated to the token sale of the 1bn total supply. At $200 per ETH, the implied starting valuation of the Relay Stablecoin System is $533k.
- There is no minimum or maximum contribution.
- Only send ETH from wallet addresses that you directly own (not exchange wallets). As exchange wallets mix funds between users, it is not possible to identify the sender of a contribution. An effort will be made to refund contributions from exchange wallets, but the process may take several weeks.
- You must retain access to the ETH address used in the sale to redeem your tokens. Placeholder Ethereum network tokens will not be issued, as token allocations will be claimed directly on the Relay blockchain.
- Unsold XRL from the sale will be allocated to the Relay Foundation Ecosystem Development Fund, which will provide guidance, support, and financial resources to enable the growth and development of the Relay Stablecoin System.
Contribution bonuses
- Contributor-specific: The largest contribution every 24 hours (per the transaction time reported on Etherchain), rolling over at 0:00 UTC each day, as well as the 2 largest contributions received over the course of the sale, will receive 50% additional XRL for that contribution. If there are multiple contributions for the same amount, the earliest received will be awarded the bonus. The qualifying contributions will be announced each day via the official Twitter account.
Note: A single contribution is only eligible to receive a 50% bonus once between the daily and overall bonuses.
2. Community-wide (bounty program participants): If the contribution cap is hit, all bounty program participants will receive the maximum 5x bounty award multiplier. The reasoning for rewarding bounty program participants is that their efforts are a key part of the project’s success, and the work made possible with public round funds should bring great value that bounty program supporters deserve to share in.
Contribution walkthrough
Users experienced with token sales can stop reading here. The remainder of this article is for those not familiar with the process of creating a personal (non-exchange) Ethereum wallet, funding it, and sending transactions to another Ethereum address. Any personal wallet interface can be used — this guide will use MyEtherWallet.
Visit www.myetherwallet.com. Create a strong password, fill in the form, and ‘Create New Wallet’.
Now, save your keystore file in a secure location. The keystore file and password created previously can be used in combination to access your wallet.
Save your private key and proceed to the next screen.
There are many ways of accessing your wallet. For simplicity in this walkthrough, paste or type in your private key, then click ‘Unlock’. As mentioned, another option is to use the keystore file and password.
Fund your wallet with ETH from another source, such as an exchange wallet. Then open your wallet and click ‘Send Ether & Tokens’.
The ‘To Address’ should be 0xC951f024B8abf73904660b74C24Af2c70079B4F9. ‘Amount to Send’ is the desired contribution amount. The ‘Gas Limit’ can be left at the default value of 21000.
Finally, ‘Generate Transaction’ and then ‘Send Transaction’.
That’s it! You’ve successfully contributed to the public round and will be able to claim your XRL on the Relay blockchain when it launches in November.
About Relay:
The Relay Stablecoin System is a private cryptocurrency with stable value pegged to the US dollar, secured by a public collateral token. Public round of up to 2000 ETH / 75% of total supply begins September 15.
