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Rigel Finance Combines a DeFi AMM with Yield Farming to Boost ROIs

Team Bitcoin Daily

Published

3 years ago

on

Rigel Finance Combines a DeFi AMM

Rigel Finance seeks to enhance the way you trade via its unique yield farming AMM protocols. This Automated Market-Making (AMM) combines a Decentralized Exchange (DEX) with some of the world’s top DeFi features. Specifically, you can farm, stake, and trade with ease using this platform.  

What is an AMM?

The first thing to understand is that Rigel Finance is an AMM. AMMs differ from traditional exchanges in a couple of important ways. When you trade using a conventional crypto exchange, you’re exchanging your tokens with another trader directly. In the case of centralized broker exchanges, you’re purchasing your crypto from the platform itself. 

When you trade on an AMM, you are actually interacting with a smart contract that acts as a liquidity pool. This smart contract then “makes” the market for you. AMMs are growing in popularity because they provide a lot of benefits over their traditional counterparts. Primarily, they allow digital assets to be traded without permission and automatically. 

Yield Farming

Rigel Finance leverages its powerful AMM engine and combines it with a yield farming protocol to provide users with more opportunities to earn. Yield farming is an investment strategy that involves locking your cryptocurrency into a liquidity pool. It’s very similar to staking. 

The main difference between staking and yield farming is that yield farming usually has no required lockup period, whereas staking protocols can require 30-days or longer. Also, staking protocols usually have some early withdrawal fee or penalty if you need to access your crypto before the lockup ends. Consequently, yield farming has gained a lot of attention since it entered the market last year.  

Rigel Yield Farming 

In the Rigel ecosystem, you earn RIGEL tokens by farming RigelSwap V2 RLP. Impressively, the network currently supports 18 pairs of yield farming pools to suit your investment needs. The network rewards you with a respectable 15% of RIGEL/block in the pair RIGEL-ETH RLP and 5% of RIGEL/block for the other 17 pairs. Best of all, the yield farming protocol is deflationary. 

Deflationary Yield Farming is the Future

One of the biggest complaints of yield farmers in the market currently is inflation. In most DeFi scenarios, the rewards tokens are issued whenever new liquidity is added to the pool. Sadly, this approach leaves investors suffering as time progresses because the token issuance rate begins to out weight the demand.

To combat these inflationary concerns, Rigel Finance introduces a proprietary deflationary mechanism. This system helps developers gain more control over their project’s token value. Every day, the network automatically trades all the LP (liquidity pool) tokens for RIGEL tokens. These tokens then get redistributed proportionally between all the xRIGEL holders in the pool.

In addition to the LP token conversion, the network also hosts bi-weekly burning events. The amount of tokens burned is based on a variety of factors, including the number of listings. Lastly, the network will conduct yearly burns. The schedule for these burnings starts the second year with 50% of all listing fees burned. From there, the annual burns will decrease by 50%. 

Powerful Tokenomics Strategy

Uniquely, there are only 30.000 RIGEL scheduled for release, with the last coin issued sometime in December 2022. This low token supply means that the demand for RIGEL will see continued growth as the project matures. The value of the token has already risen since the private sale sold out. There are currently 7600 RIGEL in circulation. 

A Multi-Token Approach to Combat Inflation

Rigel Finance was built to ensure that future yield farmers and stakers would enjoy healthy ROIs. The network utilizes a multi-token approach to accomplish this task. The network’s primary governance token is RIGEL. 

RIGEL is what you hold to gain voting rights on vital upgrades to the network, such as adding a new farming pool. You also have a staking token called xRigel and a yield farming token called RigelSwap V2 RLP. Since all of these tokens are deflationary in nature, each is expected to increase in demand in the coming weeks.  

Progress of Development

Rigel’s network is already live. The network intends to list its token in the coming weeks on seven top exchanges. Each listing will add liquidity to the platform and increase the demand for this scarce token. RIGEL is already available on  Bithumb Global, Bilaxy, Rigel Swap, Uniswap, and 0x Protocol.

Notably, the network has a well-thought marketing and launch strategy dubbed the “Take Me To Rigel” campaign. This campaign includes multiple token listings, the full launch of the platform, early-bird investor bonuses, and the start of a wide-spread marketing push.   

Rigel Wallet

Another feature to look out for is the Rigel Wallet. This DeFi wallet is available as a free download on all Android devices. The wallet has high interoperability due to its WalletConnect integration. You can save any ERC-20 token with ease and check the balances and other vital data at a glance. Best of all, 50% of all the network’s fees go to the deflationary protocol. 

Stake and Earn 

You can also stake your tokens on Rigel Finance. Staking is a core feature on most DeFi platforms nowadays. Staking is considered a better alternative to trading by many investors because it requires far less work. When you trade cryptocurrencies, you must research, analyze, and actively monitor and manage your investments. 

When you stake your cryptocurrencies on Rigel, you simply lock your crypto into a smart contract. The more tokens you stake, and the longer you keep your holdings locked, the higher rewards you will earn. Best of all, these rewards are guaranteed, versus trading, where market movements are impossible to predict with 100% accuracy. 

Unlimited Growth Potential

Rigel Finance’s tokenomics make it stand out from other projects in DeFi currently. The developers behind this platform found a nice balance between features and usability to attract investor interest. It will be interesting to see the effects of such a low token issuance.

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Press Release

Limoverse’s Vision for Web3: Token Burn, Roadmap, and Leading the Wellness Frontier

Crypto Chain Wire

Published

3 days ago

on

September 26, 2023

By

In an electrifying move in an otherwise quiet crypto market, Limoverse successfully completed its much-anticipated Token Burn Event! 

The buzz surrounding this event is palpable, and for good reason. It all starts with Limoverse’s unwavering commitment to transparency and its thriving community. Limoverse places its community at the core of its mission, emphasizing transparency, empowerment, and token appreciation for its dedicated users and token holders.

But what exactly is a token burn, and why is it generating such excitement? The answers to these questions are pivotal to understanding the magnitude of this event. Token burns are akin to enchantments in the realm of cryptocurrency. When tokens are subjected to a burn, they are permanently removed from circulation. This action not only diminishes the overall token supply but also heightens its scarcity, elevating the value of each remaining token. 

Limoverse is taking token burns to the next level by introducing a pioneering algorithm that links token burns to real-world achievements. For every kilometer run and every calorie burned within the Limoverse app, an equivalent quantity of Limoverse tokens will be incinerated. Yes, you read that correctly! As users stay active and embrace a healthier lifestyle, the token supply shrinks, thereby augmenting the value of Limoverse tokens. This innovative approach ensures that your journey to improved health and fitness also translates into the growth of your investment. A true win-win!

$LIMO Tokens have a total supply of 10 Billion tokens and the burn event saw 86,494,575 LIMO tokens being burnt and taken out of supply.

Limoverse’s commitment extends even further. “We are delighted to declare that all unredeemed rewards from our HealthFi Rewards Pool have also been subjected to a burn. This strategic move firmly underscores our dedication to forging a sustainable token economy, guaranteeing that each Limoverse token serves its utmost purpose” says Sajeev Nair, founder and chairman of Limoverse.

Talking about what the future holds for Limoverse, he further added. “Shortly, we are set to launch our most awaited projects: ModiFi and CreatFi, which will solidify our position as the most comprehensive health and wellness ecosystem in the web3 world. ModiFi is designed to empower users to flourish in all dimensions of wellness, from physical and mental health to spiritual well-being. The core focus lies in uniting top-tier wellness practitioners with advanced health tracking and AI capabilities, enabling users to take charge of their holistic wellness journey like never before.

Through self-paced courses and personal coaching, CreatFi will offer a gateway to personal growth and holistic well-being, cementing Limoverse’s reputation as a leader in the Health and Wellness space.

About Limoverse

With a vision to become the largest digital health economy in the world, Limoverse’s LIMO tokens are currently trading on Poloniex, Bitmart, and Pancakeswap exchanges. As the token expands its presence, Limoverse continues to break new ground in the health and wellness industry, leveraging Web 3 technology to empower individuals and communities alike.

Currently, the Limoverse ecosystem provides users with the option of earning rewards when they walk, jog or run and also when they burn calories thus keeping them motivated and incentivized to stay healthy through the HealthFi program. 

You can download the Limoverse App from both Google Play and App Store. Be sure to visit the official website and join our Twitter, Telegram, and Instagram to stay updated with all the latest news and developments.

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Press Release

Wemade launches Drops NFT auction service on WEMIX PLAY 

Crypto Chain Wire

Published

4 days ago

on

September 25, 2023

By

  • Game NFTs and special NFTs will be available through English Auction on Drops 
  • NFT auctions for new games Melting Earth, Ballies and Yield KingZ, will be held sequentially until Thursday, October 12th

Leading South Korean game developer Wemade today launched the new Drops NFT auction service on its WEMIX PLAY global blockchain gaming platform. 

Drops will auction off game NFTs and special NFTs minted by various games available on WEMIX PLAY. Players can use WEMIX$ to participate in the auctions which uses the same English auction method as the WEMIX3.0-based DAO & NFT platform NILE (the highest bid is determined as the final winning price). 

To commemorate the launch of Drops, NFT auctions for three new games – Melting Earth, Ballies and Yield KingZ – will be held sequentially until Thursday, October 12th.

Melting Earth is a Metaverse real estate game to restore polluted earth and become the owner of new land; Ballies is an original strategy card game that combines basketball and fantasy elements into a new experience; and Yield KingZ is a Social Casino Game-Fi leveraging benefits of WEB 3.0 based on blockchain.

WEMIX PLAY is the top global blockchain gaming platform with more than 9 million cumulative users. It offers everything from card, puzzle, simulation and strategy games; to first-person shooters, battle royale, multiplayer online battle arena (MOBA), and massively multiplayer online role-playing games (MMORPG); to casual, social networking (SNG) and sports games. 

For more information about the NFT auction service Drops and WEMIX PLAY: https://wemixplay.com/nft/drops/all.

About WEMADE

A renowned industry leader in game development with over 20 years of experience, Korea-based WEMADE is leading a once-in-a-generation shift as the gaming industry pivots to blockchain technology. Through its WEMIX subsidiary, WEMADE aims to accelerate the mass adoption of blockchain technology by building an experience-based, platform-driven, and service-oriented mega-ecosystem to offer a wide spectrum of intuitive, convenient, and easy-to-use Web3 services. Visit www.wemix.com/communication for more information.

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Press Release

Chooky Becomes Official Racing Sponsor of Meadowlands Sports Complex

Crypto Chain Wire

Published

7 days ago

on

September 22, 2023

By

Chooky, the pioneering cryptocurrency platform, is thrilled to announce a groundbreaking partnership as the Official Racing Sponsor of the Meadowlands Sports Complex. This historic collaboration cements Chooky’s position as the very first cryptocurrency to sponsor this iconic sports and entertainment venue, ushering in a new era of crypto adoption and engagement.

Meadowlands Sports Complex: Nestled in East Rutherford, Bergen County, New Jersey, the Meadowlands Sports Complex is a renowned sports and entertainment destination, overseen by the New Jersey Sports and Exposition Authority (NJSEA). The expansive complex encompasses several world-class facilities, including:

MetLife Stadium: The hallowed ground of the New York Giants and New York Jets of the National Football League (NFL).

Meadowlands Racetrack: A prestigious harness racing circuit renowned for hosting the annual Hambletonian Stakes.

Quest Diagnostics Training Center: The dedicated practice facility for the New York Giants.

American Dream: An innovative retail and entertainment destination, housing the Metropolitan Riveters of the Premier Hockey Federation (PHF).

Meadowlands Arena: A storied venue, once home to the New Jersey Devils of the National Hockey League (NHL), Seton Hall University’s men’s basketball team, and the now-Brooklyn Nets of the National Basketball Association (NBA).

Additionally, the Meadowlands Sports Complex proudly houses the largest sportsbook in the world – FanDuel Sports.

Chooky’s status as the Official Racing Sponsor of the Meadowlands Sports Complex marks a significant milestone in the world of sports sponsorship and cryptocurrency. As part of this historic partnership, Chooky will be prominently featured in commercials during the complex’s live stream, which boasts a daily viewership of millions of users. This presents a unique opportunity to connect with sports enthusiasts and crypto advocates alike. The first commercial of Chooky is set to air on September 30. 

But that’s not all. Chooky’s presence will be felt even more tangibly as a full-page advertisement graces all racing forms and Meadowlands media. This means that every visitor to the Meadowlands, whether drawn by the allure of horse racing or other electrifying entertainment, will be greeted by the captivating $CHOO ad. It’s an invitation to explore the world of Chooky, offering an enticing way to invest and be part of this vibrant cryptocurrency community.

In celebration of this monumental partnership, the Meadowlands Racetrack will host the “Chooky Inu – $CHOO” race on September 30, 2023. Following the race, an official presentation honoring Chooky will be held in the winner’s circle, marking the beginning of an exciting journey together.

Papi, CEO of Chooky, enthusiastically remarked, “This sponsorship of the Meadowlands Sports Complex is groundbreaking for the simple fact that we are the first and only crypto sponsor of theirs. We believe in the potential of cryptocurrencies to reshape industries, and this partnership exemplifies our commitment to innovation and community engagement.”

This sponsorship marks the beginning of Chooky’s comprehensive web2 marketing plan, with more exciting initiatives and engagement opportunities on the horizon. Stay tuned as Chooky’s journey with the Meadowlands Sports Complex unfolds, promising a fusion of sports, entertainment, and cryptocurrency like never before.

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