What is Rikkei Finance (RIFI)?
Rikkei Finance is a multi-chain protocol that establishes currency markets with the following key features:
- Leverage high speed and low transaction cost by leveraging fast Blockchains
- Borrow cryptocurrencies, stablecoins and NFTs without having to negotiate terms such as maturity, interest rate or collateral with a peer or counterparty.
- Provide cryptocurrencies, stablecoins and NFTs and earn an interest rate as well as reward tokens for providing liquidity to the protocol that is backed by over-collateralized assets.
- Controlled by governance token – RIFI Token.
Rikkei Finance is a revolutionary DeFi platform with the Open Lending System at its core. Cross-chain support, NFT guarantee and settlement insurance. It uses blockchain technology that enables cross-chain integration, can accept digital assets that work on any blockchain network and expose them at the same rate turning them into a real-time currency exchange network.
- Compatibility between strings
- Collateralization of NFTs
- Settlement coverage.
How does Rikkei Finance (RIFI) work?
The financial lending market for cryptocurrencies and digital assets has developed into a strong ecosystem of investors, speculators and traders exchanging thousands of assets. However, current platforms are not yet ready to meet market needs. The main vulnerabilities that exist in these platforms are:
- This protocol supports bounded single-chain transactions. Users cannot use their ETH to participate in the Binance ecosystem and vice versa.
- Existing interest rate models are not effective enough to optimize borrowing costs during the low term as well as capital costs during the high term.
- Currently, the types of collateral supported in lending systems are extremely limited to blockchain-based stable coins and tokens.
- In today’s blockchain ecosystem, users can have their assets liquidated at any time, with no insurance available to prevent this.
Rikkei Finance will initially prioritize troubleshooting in 4 key areas: Cross-chain, interest rate model, asset collateral and settlement insurance (settlement coverage).
- Cross-chainupport: Rikkei Finance allows users to borrow and borrow any digital asset, regardless of its blockchain, using encapsulated tokens.
- Interest rate model: Rikkei Finance’s interest rate model deals with two main points: one to make borrowing cheaper during periods of low usage and another to increase liquidity by providing incentives over time of high usage.
- Asset collateral: Unlimited types of collateral are supported on the Rikkei Finance platform. Users are free to decide which properties can be used as collateral based on the property classification system.
- Liquidation coverage: Rikkei Finance allows participants to purchase insurance to protect their assets from liquidation.
Sport and leisure center
RIFI United is a metaverse football NFT game where you can satisfy your passion for the football field and earn big money by becoming the manager of a football club, owning land, players, staff, stadium and many different items from regular for the legendary NFTs. RU is the first product of the Rikkei Finance ecosystem and its top priority is to build a healthy community and enable NFT lending capabilities for the Rikkei Finance Lending protocol.
Farming Zone
A variety of investment methods are available to our users, including LP Farming, NFT Farming and Boost Farming.
- LP Farming allows users to stake LP tokens and earn rewards with GREAT APY. It aims to increase the TVL, the LP token price and the RIFI price eventually.
- NFT Farming allows users to bet NFT and earn APY. No lockout period. The earlier you bet, the higher APY you will get.
- Boost Farming offers special APY for RIFI and NFT dual staking.
NFT Market
RiWorkName
Market Analysis was created to ensure the transparency of the Rikkei Finance Lending Protocol asset selection process, as well as the system’s long-term viability. Before being officially included in the loan pool, assets will be vetted and ranked based on various liquidity measures, then analyzed and sent to the voting section. Token Index aims to keep the community up to date with all the latest information and insights on major coins.
Governance, DAO and loans
- Rikkei Finance DAO: RIFI holders can become members of Rikkei Finance DAO to vote on project policy.
- Rikkei Finance Lending Protocol – A Safe and Secure Open Lending System, solving 4 major flaws of the current lending protocol.
cross chain support
Current lending protocols provide limited support for one-chain transactions involving multiple cryptographic assets based on distinct blockchains. Rikkei Finance uses Tokens encapsulated to allow limitless cross-chain transactions. Users have the ability to borrow and borrow any digital asset, regardless of its blockchain.
Effective interest rate model
Current interest rate models are ineffective, making borrowing more expensive in periods of low loan demand. Rikkei Finance has implemented a new interest rate model. Our interest rate model considers the cost of funding in periods of low utilization, as well as the cost of capital in periods of high utilization, which provides numerous benefits to the market and to investors.
A variety of warranty types
The types of collateral supported by contemporary lending systems are mostly stable coins and blockchain-based tokens. But the types of guarantees supported by the Rikkei Finance platform are not limited. Based on its asset valuation system, users can choose which assets can be used as collateral. In addition to blockchain-based stablecoins and tokens, users can use their NFT assets as collateral for a loan or lend to other users using their non-fungible tokens.
Settlement Coverage
In the blockchain ecosystem, insurance is mostly confined to smart contract coverage. Users are vulnerable to liquidation of assets at any time with no liquidation coverage to protect them. Rikkei Finance encourages worry-free user experiences by allowing users to purchase settlement coverage for their vaults.
RIFI token
The RIFI token plays an important role in the operation of the Rikkei Finance ecosystem. The maximum supply is 500.000.000 RIFI tokens. Currency is used for:
- Use to pay all platform fees and premiums.
- Propose, debate and vote on governance proposals to define characteristics or parameters of the Rikkei Finance platform, as well as protocol improvements.
- Rewards for motivating users (lenders) to play the role of liquidity providers and putting their digital assets in the loan pool for borrowers to use, liquidity providers will be rewarded with RIFI tokens.
Bottom Line
A Rikkei Finance is a Vietnamese DeFi company led by a group of industry experts that is developing a blockchain lending platform. They are leveraging decentralized technology to reinvent classic concepts including lending, credit and even insurance. PortalCripto hopes that the article has brought the necessary information about the Rikkei Finance project.
