What is Rikkei Finance (RIFI) coin, Game NFT, DeFi and multi-chain metaverse?

Rikkei.Finance is a revolutionary DeFi platform, the heart of which is a unique open lending system: cross-chain support, NFT collateral and P2P insurance. Read on to find out more about the Rikkei Finance project.

What is Rikkei Finance (RIFI)?

Rikkei Finance is a multi-chain protocol that establishes currency markets with the following key characteristics:

  • Take advantage of high speed and low transaction costs 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 to provide liquidity to the protocol, which is backed by over-collateralized assets.
  • Controlled by a 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 allows cross-chain integration, can accept digital assets running on any blockchain network and expose them at the same speed turning them into a real-time exchange network.

  • Channel compatibility
  • Collateralisation of NFT
  • Settlement coverage.

How does Rikkei Finance (RIFI) work?

The financial lending market for cryptocurrencies and digital assets has developed into a solid ecosystem of investors, speculators and traders who trade thousands of assets. However, the current platforms are not yet ready to meet the needs of the market. The main vulnerabilities that exist in these platforms are:

  • This protocol supports limited single-chain transactions. Users cannot use their ETH to participate in the Binance ecosystem and vice versa.
  • Existing interest rate models are not efficient enough to optimize short-term borrowing costs as well as long-term capital costs.
  • Currently, the types of collateral supported in lending systems are extremely limited to blockchain-based stablecoins and tokens.
  • In today’s blockchain ecosystem, users can liquidate their assets at any time, with no insurance available to prevent it.

Rikkei Finance will initially prioritize problem solving in 4 key areas: cross-chain, interest rate model, asset guarantee 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 more affordable during periods of low utilization and another to increase liquidity by providing incentives during periods of heavy use .
  • Asset guarantee: Unlimited collateral types 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.

Sports and recreation center

RIFI United is a metaverse NFT soccer game where you can satisfy your passion for the pitch and earn big bucks by becoming the manager of a soccer team, owning fields, players, staff, stadium and many different items than the legendary NFTs. RU is the main product in 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.

Agricultural area

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 price of TVL, LP and RIFI tokens forward.
  • NFT Farming allows users to bet on NFTs and earn APYs. No blocking period. The earlier you bet, the more APY you will get.
  • Boost Farming offers a special APY for RIFI and NFT double staking.

All chests on the farm are checked and ready to be unlocked.

NFT market

RiWorkName

The market analysis was created to ensure the transparency of the Rikkei Finance Lending Protocol asset selection process, as well as the long-term feasibility of the system. Before being officially included in the loan pool, assets will be selected and ranked against various liquidity metrics, then analyzed and sent to the polling station. Token Index aims to keep the community up to date with all the latest news and information on the major coins.

Governance, DAO and loans

  • Rikkei Finance DAO: RIFI holders can become members of Rikkei Finance DAO to vote on the project policy.
  • Rikkei Finance Lending Protocol – A safe and secure open lending system that solves 4 major flaws in the current lending protocol.

cross chain support

Current lending protocols offer limited support for single-chain transactions involving multiple crypto assets based on separate blockchains. Rikkei Finance uses token wrappers to enable unlimited 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 inefficient, which makes borrowing more expensive in times of low loan demand. Rikkei Finance has implemented a new interest rate model. Our interest rate model takes into account the cost of financing in low-use times, as well as the cost of capital in high-usage times, which offers numerous benefits to the market and investors.

A variety of types of collateral

The types of collateral supported by contemporary lending systems are mainly blockchain-based stablecoins and tokens. But the types of guarantees supported by the Rikkei Finance platform are not limited. Based on its asset rating system, users can choose which assets can be used as collateral. In addition to stablecoins and blockchain-based 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 limited to covering smart contracts. Users are vulnerable to liquidation of assets at any time without liquidation coverage to protect them. Rikkei Finance encourages worry-free user experience by allowing users to purchase transaction coverage for their vaults.

RIFI token

The RIFI token plays an important role in the functioning of the Rikkei Finance ecosystem. The maximum supply is 500,000,000 RIFI tokens. Currency is used for:

  • Use it to pay all the fees and rewards of the platform.
  • Propose, discuss and vote on governance proposals to define characteristics or parameters of the Rikkei Finance platform, as well as protocol improvements.
  • Rewards to motivate users (lenders) to act as liquidity providers and put their digital assets in the loan pool for borrowers to use, liquidity providers will be rewarded with RIFI tokens.

Where to buy the RIFI token?

The RIFI token can be purchased on several major cryptocurrency exchanges, the most important of which are Huobi Global and Pancake Exchange (V2).

Conclusion

A Rikkei Finances is a Vietnamese DeFi company led by a group of industry experts that is developing a blockchain lending platform. They leverage decentralized technology to reinvent classic concepts like loan, credit, and even insurance. PortalCripto hopes the article brought the necessary information about the Rikkei Finance project.

* PortalCripto values ​​the quality of the information and certifies the verification of all the contents produced by its team, underlining however that it does not formulate any type of investment recommendation, as it is not responsible for losses, damages (direct, indirect and ancillary), costs and failure I earn.

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