BitWell AMA | Introducing Rai Finance: The Epicenter of Web 3.0 World
On April 22nd, Kevin, Core Contributor of RAI Finance visited the BitWell community and brought a wonderful sharing with the theme “Rai Finance: The Epicenter of Web 3.0 World”.
The following is a review of the full content of this community sharing!
Host Q&A
1.Could you please give us a brief introduction of the RAI Finance and what problems it intends to solve?
RAI Finance is a decentralized finance application that provides digital asset users with social trading system, aggregated swap on heterogeneous blockchains
We want to solve problem as below:
Most of the current DeFi products are using the high APY as the main driving force for investors to participate, and lack of creativity for products, forming an unsustainable “mining and selling” model. With the decline of APY, DeFi products have also entered a development bottleneck period.
Our team also has some thoughts about this phenomenon. From the perspective of the traditional Internet, many producs will eventually form a deep linkage with social networking with the explosion of user volume. When DeFi crosses the APY-dominant stage, DeFi is also likely to develop towards socialization.
RAI Finance hopes to start from the social trading sector and provide a new development model for the next stage after the DeFi industry breaks ground. Around social trading, build a comprehensive platform that allows users to continue to have fun in DeFi.
2. We understand that RAI Finance aims to become the epicenter of Web 3.0 decentralized finance, what features does RAI offer to serve its users for this purpose?
Sure. Users of RAI Finance can explore features such as creating index tokens, cross-chain trading and socialization with the other digital asset traders.
STS: Social Trading System combines both digital asset trading and socializing, users can create their own portfolios, or invest in other professions. Different from the traditional index, on RAI Finance, each portfolio generates a unique token, which makes it easier to calculate, invest and share.
Aggregator: For now, RAI Finance supports ETH and Polygon asset trading aggregators, in the future, RAI Finance will support more blockchains and finish the cross-chain trading aggregator. Now we are working on it based on Substrate code and the polkadot ecosystem.
Governance: RAI Finance provides an onchain governance section, users’ proposals can be voted by SOFI token and accomplished automatically via code.
Managing Asset (My wallet): In the Wallet section, users can edit their own profiles like social media links, and check their asset status, rebalance portfolios.
3.Could you now give us an insight into the tokenomics of SOFI？
That’s a must question.
SOFI, the native token of RAI Finance, total supply is 1 billion, now is available on ETH, Polygon and BSC. SOFI has usage scenarios as below.
1. Governance: By holding SOFI token, users can access to governance function. The holder of the token will vote on proposals to decide how RAI Finance can develop in the future.
2. Ecological incentives: SOFI is mainly used to attract and reward users and traders who bring liquidity and create valuable portfolios. The bi-weekly swagger trading competition is alive, welcome to join in and experience. https://twitter.com/RaiFinance/status/1516276948892532740
3.Promotion: For professional traders who want to promote their own portfolios, they can use the SOFI token to get a promotion slot on RAI Finance website.
If you want to know more about SOFI, you’re more than welcome to check here.
https://medium.com/rai-finance/rai-finances-brand-is-deeply-upgraded-to-socialization-token-ticker-is-changed-to-sofi-210123adf84f
4.Could you elaborate on the killer features of SOFI Token and how it can benefit RAI Finance users?
SOFI token is the key for RAI Finance community, with the SOFI token, users can join in governance of the project. Social will be an important section for the Web3.0 world, with SOFI, users can decide how RAI Finance develops, and open more creative socialFi functions on RAI Finance.
5.Does RAI Finance have any exciting initiatives that are planned for SOFI Token in the pipeline?
RAI Finance aims to be a hub connecting both social and finance in the Web3.0 world. In the future, together with our community, RAI Finance will support more blockchains and provide more creative social functions. For SOFI token, this development will bring more usage scenarios and incentive events.
In 2022, we are working on adding more social functions and cross-chain functions, Welcome to join in our community and look forward future events!
Community Live Q&A
1.As you stated dex is one of your major products we all know that there are many gas efficient Dex available in the market , how are you guys gonna compete with them?
We’re offering an aggregator function on our platform as of today.
Making our users to be efficient in terms of swapping different tokens is important. This is a general statement — to answer your question more towards to our platform specifically, As one of our key features is the social trading system, thus we’re building our DEX to be available to trade index tokens created in the social training system.
2.The vast majority of the projects developed by the Polkadot chain describe “interconnections between chains” as the main advantage, but is it really the only advantage over the rest? or are there many more?
Polkadot is a great option in terms of a cross chain environment. As many of you guys are now watching numerous omni-chain dex or multi chain dex, it is inevitable for DeFi protocols to be native in a cross chain environment. We’re estimating Polkadot to be the best option as of today.
3.Regulation is very important. Many projects were closed in many countries due to failure to use the correct regulations and permits. In order to go global how does your team deal with these issues?
Great question. I’m constantly keeping track of regulatory issues including FATF’s guideline and each legislation that we have our main exposure to. I guess we’re pretty much clear on regulatory & securities issues as we’ve recently passed Coinbase Custody’s due diligence process at this moment.
4.Can you tell us about the main Rai Finance targets you are currently focusing on and the market you are trying to reach? Are you going to make the Rai Finance project that grows on a global scale or will you be active only in certain regions for now?
Our core contributors are based in geometrically important markets such as East Asia, U.S., ETC. We will definitely be active on a global scale leveraging our strong base on the markets listed above.
5.Can you tell about your #RAI_Finance listing plans? Especially the ones involving major exchanges, CEX and DEX. Are we to look forward to further Partnerships and what values would they bring?
First of all, I’m happy to see our native token to be listed on Bitwell as of this week. Our group of core contributors are still striving to get listed on CEX and DEX for the better liquidity options for SOFI. You can keep in touch with our team via our social media. I’m confident that things that our team will achieve in coming months.
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Website | Telegram | Medium | Twitter | Github
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