Reya Token Sale Set to Go Live on CoinList: What You Need to Know

The Reya Network's $REYA token sale is scheduled to launch on CoinList on November 25, 2025, at 17:00 UTC, marking another entry in the platform's history of hosting token sales for blockchain projects. This seven-day event, closing on December 2, 2025, at 17:00 UTC, offers 160 million $REYA tokens at $0.01875 each, representing 2% of the total 8 billion token supply and aiming for a fully diluted valuation of $150 million. 

Building on CoinList's track record with projects like Solana and NEAR Protocol, the sale uses a community-oriented allocation method that prioritizes smaller purchases to encourage broader participation among eligible users.

What is Reya Network?

Reya Network is a modular Layer 2 perpetual decentralized exchange built on the Arbitrum Orbit stack. It is designed to provide trading speeds with execution times as low as one millisecond at scale, alongside features such as gasless transactions and a unified liquidity engine. The platform supports more than 70 markets, including cryptocurrency perpetuals, real-world asset perpetuals, staking options, and spot trading, which is currently in development. Users can utilize multi-asset collateral, such as wrapped staked ETH (wstETH), wrapped Bitcoin (wBTC), and yield-bearing stablecoins like srUSD.

The network employs a permissionless architecture with multiple sequencers and custom zero-knowledge proofs for transaction verifiability. It incorporates a first-in, first-out order-matching system to mitigate front-running and maximal extractable value risks. Settlement security relies on Ethereum's network of over 950,000 validators, which helps avoid sequencer-related vulnerabilities and supports full self-custody for traders. 

Reya Labs, the entity developing the network, has secured $16 million in funding, including a $10 million Series A round in March 2024 led by Framework Ventures. Other investors include Coinbase Ventures, Wintermute, Fabric Ventures, Brevan Howard Digital, Amber Group, Robot Ventures, and Selini Capital.

As of writing, the protocol boasts over 10,000 active traders and more than 100,000 connected wallets. The network positions itself to handle high-frequency trading demands similar to those in traditional finance, with plans to transition into the first based rollup enshrined directly in Ethereum's Layer 1 protocol.

Details of the $REYA Token Sale

Registration and Funding Requirements: Participants need to register on CoinList's dedicated page at https://coinlist.co/reya. They must fund their wallets with at least $100 in USDT or USDC using the ERC-20 standard.

Payment Options: Only USDT or USDC stablecoins are accepted.

Eligibility Exclusions: The process does not allow participation from residents of the United States, including its territories, Canada, or any sanctioned jurisdictions or individuals.

Participation for Affiliates and Contributors: Reya affiliates and core contributors can participate, but they must do so under the same conditions as all other users.

Allocation Method: After the purchase window closes, token allocations are handled through a "filling up from the bottom" approach. This method prioritizes fulfilling the smallest purchase requests first. Larger requests can be submitted to indicate interest, but they may receive only partial allocations if overall demand exceeds available supply.

Vesting Schedule: Purchased tokens are released according to a specific timeline 50% of the tokens unlock at the token generation event (TGE). The remaining 50% vests linearly on a monthly basis over the following six months.

$REYA Token Utility and Allocation

The $REYA token is the network's native utility and governance asset. 

Holders who stake $REYA can access additional token distributions, reduced trading fees, and voting rights in governance decisions. In the network's based-rollup design, execution node operators must stake $REYA and face slashing penalties for any misbehavior to maintain system integrity.

An assistance fund, funded by trading and liquidation fees, allocates 80% of proceeds to $REYA buybacks and 20% to ETH buybacks, creating ongoing demand tied to protocol activity. 

The overall token supply allocation dedicates 45% to community incentives, in addition to the 2% earmarked for this sale. This setup aims to align incentives for long-term participants in the ecosystem.

Comparisons to Previous CoinList Sales: Solana and NEAR Protocol

CoinList has previously facilitated token sales for projects that achieved significant market presence, providing a benchmark for Reya's offering. The Solana ($SOL) sale in March 2020 used a Dutch auction format, selling 8 million tokens at $0.22 each and raising $1.76 million, which accounted for 1.57% of the supply. Participation spanned 91 countries, excluding the U.S., and the token has since delivered returns exceeding 600 times the initial coin offering price, supported by Solana's emphasis on high-throughput blockchain technology.

In August 2020, the NEAR Protocol ($NEAR) sale adopted a tiered structure, offering tokens at $0.34 with a 12-month lockup or $0.40 with a 40-day lockup. NEAR's returns from the initial offering stand at about six times today, bolstered by its sharding architecture and developer tools.

Like Solana and NEAR, Reya targets scalability through its based-rollup approach and benefits from venture capital support, positioning it within the perpetual DEX sector amid competition from platforms like dYdX and Hyperliquid.

Conclusion

The Reya token sale on CoinList offers a structured opportunity for non-U.S. participants to acquire $REYA tokens, tied to a Layer 2 perpetual DEX with features such as millisecond execution and multi-asset collateral. 

Drawing from the platform's history with Solana and NEAR, the event emphasizes fair distribution through its allocation method and vesting terms. For those considering involvement, reviewing official details and assessing personal eligibility remains essential, underlining the need for due diligence in blockchain investments.

Source:

• REYA Funding Rounds: https://icodrops.com/reya-network/ 

• Solana raises $1.76M from its launch auction on CoinList: https://www.theblock.co/linked/59952/blockchain-project-solana-raises-1-76m-from-its-launch-auction-on-coinlist 

• NEAR Token Sale on Coinlist: https://blog.coinlist.co/announcing-nears-token-sale-on-coinlist/ 

• REYA ICO Announcement: https://x.com/reya_xyz/status/1991197145299308690?s=20