Verifying the $RLS circulating supply via our CoinMarketCap submission

To ensure complete accuracy of our tokenomics CoinMarketCap (CMC), Rayls has officially submitted our Annex C - Supply Update to verify our circulating supply.

For a decentralized ecosystem, "Supply Verification" isn't a marketing buzzword, it is a mathematical proof. We want our community to understand exactly how our circulating supply is calculated by looking directly at the raw data we provided in the CMC spreadsheet and verifying it on-chain.

The methodology: how circulating supply is calculated

The standard formula for proving a circulating supply to platforms like CMC requires full disclosure of all token allocations. It relies on a simple, verifiable equation:

Total supply - (locked assets + reserve wallets + unvested allocations) = circulating supply

In our Annex C submission, we aggregated our $RLS addresses across Ethereum. By declaring every single wallet that holds non-circulating tokens, the remaining sum mathematically proves the precise amount of tokens actively circulating in the open market.

Why circulating supply matters

The key metric used by CMC and similar platforms like CoinGecko for ranking is market capitalization, which is calculated as: circulating supply x current price.

CMC requires verified circulating supply data because it represents the most accurate measure of a project's liquid, real-time valuation.

• Accurate Valuation: Circulating supply specifically accounts for the tokens actually available on the open market, unlike Total Supply, which includes all minted tokens, even locked ones.
• Fair Ranking: By standardizing the calculation across all projects, requiring the subtraction of all non-circulating, locked, or unvested tokens, CMC ensures a level playing field for market ranking and reporting.

Breaking down the spreadsheet data

To verify our supply, we disclosed the specific balances of every restricted wallet. We declared a total of 205 wallets overall, split across the following categories:

• 165 Core Team/Advisors/Contractors
• 31 Private sale investors
• 1 Public sale investors
• 8 Treasury

The total $RLS in these wallets, at the time of writing, totalled 8,580,786,997 $RLS.

Proving the math

To independently verify our circulating supply, you simply need to sum the non-circulating allocations and subtract them from the total supply.

1. Total non-circulating wallets (Total $RLS): 8,580,786,997
2. Calculating circulating supply: 10,000,000,000 (Total Supply) - 8,580,786,997 (Non-Circulating Supply) = 1,419,213,003

You can verify this number via our public API that is directly integrated into CMC to ensure live updates. Note the API likely gives different data when you look in comparison to the calculations above due to token transfers: so best to use the blockexplorer instead.

Verify it yourself on Etherscan and our API

We believe in "verify, don't just trust." While the Annex C submission ensures CoinMarketCap has the exact addresses and balances at the time of writing to update our official market caps, you do not have to take our word for it.

We strongly encourage the Rayls community to verify these numbers directly on the blockchain. You can audit the token holder list by searching the Rayls smart contract on Etherscan. If the total supply ever changes due to burning, this can also be seen on Etherscan or via our public API.

As CoinMarketCap processes this data, you will soon see our verified supply officially reflected on their tracking pages, matching the math outlined above.

For further information and broader insights into the Rayls ecosystem and our ongoing initiatives, you can always visit the Rayls Transparency Portal.