. @RaylsLabs Airdrop has ended, and the second wave has started on the cookie. I checked the rankings today, and they have all fallen to 201st place. The rewards from the first wave will not be credited until March.

After some thought, I decided to continue.
Here's a brief summary: $RLS 's token performance and project progress after listing.
Before the summary, I want everyone to understand what this project is actually doing.

What RaylsLabs is doing can be summarized in one sentence: building a bridge for banks to access blockchain.

Traditional banking systems are old and slow, cross-border transfers often take several days, and fees are high. RaylsLabs aims to solve this problem using blockchain technology, allowing banks to "move" assets onto the chain while meeting regulatory requirements and protecting customer privacy.

The project's slogan is "Bring $100 trillion onto the chain"—it sounds exaggerated, but behind it are well-known industry institutions like ParaFi Capital and Framework Ventures investing money. The technical architecture involves two chains: a public chain accessible to everyone, and a private chain for banks and institutions to handle sensitive transactions.

By the end of 2024, the project started to show signs of activity, with the testnet launched gradually in 2025, reportedly attracting over 200,000 users to participate in testing.

Token Listing: A Rise and Fall Scenario
$RLS , as the core token of the project, was listed on Binance Alpha and other exchanges on December 1, 2025.

The listing day was indeed lively. The price surged directly to a historical high of $0.58, and market sentiment was very excited. The reasons are easy to understand: JPMorgan was testing their technology, the Central Bank of Brazil's CBDC pilot chose Rayls, and Messari published a report praising it as "truly useful infrastructure."

And then?

In early January 2026, the price fell to around $0.027, with a market cap of about $40 million and a daily trading volume of $68 million.

Recently, the price has been even more tragic, dropping directly to 0.01062.

Such a trend is not uncommon in the crypto space. During initial coin launches, FOMO drives prices up, but before the mainnet (planned for Q1 2026) is live, and with real applications not yet implemented, some early investors take profits. Plus, the overall market was volatile at the end of 2025, putting pressure on new tokens.

However, trading volume remains active, and the discussion on X with 360,000 followers hasn't cooled down, indicating market attention is still there.

What has been happening recently?
A few notable developments:

Mainnet Launch Imminent
Scheduled for Q1 2026, compatible with EVM, low migration costs for developers. The tokenomics design includes 50% of transaction fees burned and 50% allocated to community incentives—an deflationary model.
DAO Governance
In 2026, the project will shift to a DAO model, allowing $RLS holders to vote on protocol upgrades, partner selection, fee adjustments, and other matters.

Partnerships and Practical Applications
Collaborated with Animoca Brands to expand into tokenized assets; established a $1 million developer fund; ongoing CBDC testing with the Central Bank of Brazil and enterprise experiments with JPMorgan. It is reported that $1 billion worth of assets are queued to be on-chain.
Technical Updates
Open-sourced privacy technology Enygma, focusing on quantum-resistant security—this is a necessity for bank clients, as once quantum computers mature, traditional encryption could be broken.

Community Operations
In 2025, held SNAP events, distributing $700,000 worth of $RLS rewards to content creators and stakers.

Finally, my personal view on this project:

RaylsLabs is targeting institutional clients, not projects built on memes or community hype. Its advantages include real enterprise clients testing the platform, clear application scenarios, and technology aligned with the pain points of financial institutions.
The risks are also obvious: the mainnet is not live yet, meaning everything is still in the "pie in the sky" stage; the token price has already fallen 95%, and market confidence needs time to recover; the adoption of blockchain by institutions may be much slower than expected.

2026 will be a testing period. Whether the mainnet can launch smoothly, whether institutional funds will truly flow in, and whether DAO governance can get off the ground—these answers will determine whether $RLS hits bottom and rebounds or continues to lie dormant.
For more information, you can search for @RaylsLabs on X to see community discussions, or visit the official website directly. Investing depends on personal judgment, but at least understand the project first.

To conclude, I personally am very optimistic about RaylsLabs' model. This will be the beginning of new financial development. The road is long and winding, and Rayls will keep exploring up and down.