On April 30, 2026, the Rayls public chain mainnet went live, connecting permissioned institutional networks with a public, permissionless chain. The launch activated the full RLS token economy. Mugen has worked alongside the Rayls team as its finance and operations partner through the lead-up to mainnet, and continues in that capacity as the network enters its live phase.
The Launch
RLS, the native token of the Rayls network, sits at the center of the economy. It is used for staking and network alignment. The structural design includes a 50 percent burn of transaction fees across the public and private chains, with an additional 10 percent burn of the monthly unlocked foundation supply built in as ongoing deflationary mechanisms. The launch also introduced USDr, the Rayls-native, USD-backed stablecoin used to pay gas, and brought the RLS staking program live in parallel.
Mugen’s Role
Mugen’s engagement with Rayls covers token launch execution and the supporting finance and operations infrastructure required around it. The work is scoped to allow the Rayls team to remain focused on protocol development and ecosystem growth while finance, accounting, governance, and program management obligations are carried alongside it. The structure mirrors how Mugen supports other foundation clients moving from pre-launch into a live mainnet phase, where the operational perimeter widens and counterparty, audit, and reporting requirements grow in parallel.
“Rayls has built one of the more institutionally serious networks in the market, and supporting the RLS token launch and the operating posture around it has been a privilege,” said Yaroslav Pshenitsyn, Founder of Mugen.
What Comes After Launch
The mainnet launch is consistent with the operational profile Mugen looks for in foundation clients. Rayls has formalized tokenomics with measurable supply controls, is preparing the Enygma privacy protocol upgrade for the third quarter of 2026, and has a planned bridge to Ethereum with progression toward DAO governance over the course of the year. Each of these milestones extends the operating perimeter of the foundation, and each raises the bar for treasury, compliance, and program management discipline.
“Tokens are launched in days, but the operating program around them runs for years,” Pshenitsyn added. “Our role is to make sure the foundation infrastructure can carry the network through every phase that follows mainnet, not just the moment of launch.”
Mainnet is not the milestone. The years that follow it are.
