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GAINS Associates

Rikkei — Telegram AMA — November 24

On Wednesday, November 24, we had the pleasure to welcome to our Telegram chat:

Ngan Chu, CMO

We asked her questions about the development of Rikkei.

Some sentences have been slightly edited for readability but the meaning has been conserved.

Summary

Rikkei Finance is a well-structured Metaverse DeFi Protocol. Under Rikkei Finance Planet, there are 5 main zones: Sport & Recreation Center, Farming Zone, NFT Marketplace, RiWork and Governance, DAO & Lending. All will eventually support the development of Rikkei Finance’s core product — LENDING.

Solving NFT illiquidity with NFT Marketplace
Rikkei Finance NFT Marketplace provides high liquidity and a wide range of NFTs at an affordable price, fostering the NFT collateralization of Rikkei Finance Lending Protocol.

A Safe and Secure Lending Protocol
Rikkei Finance Lending Protocol applies multiple methods to ensure system sustainability, including: applying an improved Multi-kinked interest rate model, employing 5-phase asset selection process, which will eliminate the risk of price corrections and market manipulation, allowing RIFI system to sustainably respond to any market situations.

Community-centred
Rikkei Finance is a secure metaverse that will be user-centric, allowing RIFI holders to vote on system policy through the Rikkei Finance DAO. Furthermore, the benefits of users are of the utmost importance in the Rikkei Finance protocol. To ensure users get the best returns, a safe positive-yield interest rate model is used. Rikkei Finance users will have access to the first-ever liquidation coverage, which will protect them from smart contract hacks and asset liquidation.

Farming with Great Returns
A variety of investing methods is available for Rikkei Finance users, including LP Farming, NFT Farming and Boost Farming, which allows you to stake RIFI or dually stake RIFI & NFT and earn huge.

Introduction

Q — Ayeley from GAINS: Could you please introduce yourself and your team?

A — Ngan from RIKKEI: My name is Ngan, CMO of Rikkei Finance. Great to meet you all today! I’ll share with you more about our team.

Hoa (CEO) is a seasoned expert in the DeFi space with years of experience innovating and advising on numerous projects. He is a co-founder of Rikkeisoft with a B.S from Ritsumeikan University. Hoa is the CEO of Rikkei Finance, where he is devising strategies and leading innovation on the best ways to revolutionize the decentralized finance space, bridge the education gap, and democratize access for the community.

Tung holds the CTO role, where he is responsible for all the tech parts of the company. He possesses a demonstrated history of working in the information technology and services industry. He leverages his tech knowledge to ensure that all products and services are adequately optimized for the marketplace and the consumers’ interests. He is an information technology expert with a Ph.D. in Computer Science from Nanyang Technological University.

Duc is the CFO of Rikkei Finance. He works on the company’s finances and is responsible for ensuring all accounts are adequate. Duc is a former quantitative researcher at Keebeck Alpha Nanyang Technological University, Singapore. He has a huge passion for building a sustainable lending protocol, which motivated him to keep his mind on RiFi’s business model and develop RiFi’s protocol with high-standard risk management that enhances users’ experience and encourages greater participants.

About Rifi United

Q — Ayeley from GAINS: Can you provide us with a brief description about Rikkei Finance and RIFI United? What’s the relationship?

A — Ngan from RIKKEI: Rikkei Finance is a revolutionary DeFi protocol that aims to remove existing stumbling blocks of the DeFi space with the core features: Cross-chain support, NFTs collateralization, and P2P Insurance.

It utilizes blockchain tech that enables cross-chain integration, meaning it can accept digital assets that operate on any blockchain network and render it at an equivalent rate, making them a real-time currency exchange network as well. Rikkei Finance successfully raised the initial funding of $5.6M to build the lending protocol:

RIFI United, a product of Rikkei Finance, is nurtured with the aim of allowing users to utilize RIFI future cross-staking and cross-NFT programs, as well as expedite the NFT lending feature. The product is a stepping-stone for RIFI to accomplish our mission to bring competitive advantages to users.

RIFI United is a soccer manager simulator, built with a unique game depth to provide lasting enjoyment for players. It is a metaverse football NFT game, where you can satisfy your passion for the football field and earn a lot of money by becoming the manager of a football club, owning lands, players, staff, stadium, and lots of different items, from the regular to the legendary NFTs.

The core of RIFI United is a vast and complicated match calculation system that provides perfect realism and the proper level of competitiveness among Premier League supporters. You can read more about the game here.

Q — Ayeley from GAINS: Since there are many more soccer manager games in the market right now, so what makes you different from them in terms of fun, incentives, etc.?

A — Ngan from RIKKEI:

1. NFTs Players & Chemistry: By joining the game, you’ll be able to simulate the game as a football manager, whose squad consists of NFT animal players.

The players are in the appearance of the tiger, horse, buffalo, etc. Therefore, it is important for you to pay attention to not only the stats but also the players’ species when forming your team. As not all species like each other.

You have to understand the strengths of your NFT players. Meaning, you’ll have to do an analysis of their strengths, weaknesses, and specialties to determine the positions for which they are most suitable. This will increase your chances of scoring goals and advancing your team. In fact, you can create a stellar squad based on a thorough understanding of your players.

You can also trade your NFTs on our marketplace. As is the case with regular soccer, you can also elect to transfer players across teams for better optimization. There’s a marketplace that operates in the same manner as a transfer window for that purpose. Sales of equipment packages can also be conducted in the marketplace — as you can buy and sell training facilities.

2. Game modes:

3 game modes are available for you to choose from after forming your dream team: the AI mode, Rank Match, and League.

The PvE mode, where you need to play against AI, will help sharpen your skills and optimize your team so you can better understand the strengths and weaknesses of each player. 100 levels of AI are built for you to practice and rewards will be given once you pass each level.

For The Rank Match, you can play against other managers who share the same powers as you. In this mode, top players will be rewarded with the highest MMR.

The League is more long-term and takes the competition to a whole new level. Here, you need to compete with the other 19 opponents to get the ultimate prize. You’ll have to apply what you learned in other modes in this round, as you’ll be tasked with the job of seeing your team through, from the group stage to the final.

3. Gameplay Details can be found here.

Our CTO also made a video to share with you the features of RIFI United. You can watch it via this link. Subscribe to us for more interesting info!!

Q — Ayeley from GAINS: Do I need prior knowledge of football/soccer to play?

A — Ngan from RIKKEI: Yeah, you’re the manager sir. not only knowledge of football, but also an excellent business mindset to manage the finance of your team.

Q — Twitter user @Nguyenhuybach12: In RIFI United we may be the owners of football clubs, but as far as I understand that, we can also own land and players. Does this mean we can build our own Stadium and become presidents of our own football team? In that case, how can we make money from it?

A — Ngan from RIKKEI: Yes you are right! As a RIFI United soccer manager, there are many activities for you to be involved in the game

— You can form your dream team: You will have to deeply understand your NFT players who have their own unique strengths, weaknesses, specialties to set them in the most suitable position in the squad, increasing your odds of scoring a goal. Perhaps you will have the greatest trio ever, similar to Messi-Neymar-Suarez.

— You can train and track the performance of the teams: The high-skilled NFT players can bring soccer managers to tournament prizes or raise their prices in the marketplace. As a Soccer Manager, you can put your squad into training sessions to level up their skills and or join several tournaments to gain winning awards.

— You can take part in soccer tournaments: You need to analyze your competitors’ strategy and assess your players’ form to develop the best plan for your match!

— You can have fun with the betting system: At the beginning of the season, each team will have a chance to contribute to the reward. All of it goes to the top three teams at the end of the season. — You can buy/upgrade your facilities: Everything is in your control, from building your stadium into a big venue to preparing parking slots and other utilities, ensuring that the players could have the best training and the fans could have top-notch matches to cheer on. — You can participate in the NFT market: NFT soccer player in RIFI United is not just a card, but a virtual player which could be transferred in the marketplace to form a better-skilled team. Also, you can buy or sell types of training packages or equipment packages in our one and only marketplace.

Q — from Twitter user @V1ct0r_09: On Soccer, players have a value depending on how good and popular they are, for example, Messi doesn’t cost the same as Mbappe. So, will be the same case with RiFi United? Will the NFTs prices change depending on some characteristics or will all of them cost the same?

A — Ngan from RIKKEI: It will be the same case with RU, and of course, the prices will be different among NFTs.

To indicate RU NFTs’ prices, you can go to the NFT sale on Binance NFT, taking place tomorrow Nov 25, 2021, at 4 AM UTC.

Besides price, actually, each player will have a profile detail, representing their most useful biographical information and their attributes. You will have to look through all these profiles closely to form your dream team:

— The Overall score is intended to give you an overview of an NFT player. The higher the overall score, the more comprehensive the player is.

— Age, Physicality, Height, and Weight of a player are crucial too. — You should pay close attention to the player’s species as well as his background. Some species adore one another, and they perform better when paired. Players who have previously played for the same club or league have an invisible bond with one another too.

— You must consider detailed stats based on the player’s position in the squad. Each player will have 6 stats, including Pace, Passing, Defending, Shooting, Dribbling, and Physical. Aside from all of these quantitative stats, you must also consider the player’s Mental state. For the fullest info, pls refer to this.

Token

Q — Ayeley from GAINS: Can you share with us your tokenomics? How much is the total and circulation supply of your tokens? and will there be buyback system or token burning in the future?

A — Ngan from RIKKEI: We do have a token burning system. The team doesn’t hold any tokens. Only distribution for community, liquidity, and reward

The Rifi United is the first product released under the Rikkei.Finance ecosystem. Money is not the first priority for it. The good product, the community, and the concept of NFT lending are our targets for this one

RIFI United is built by and for the community. As we do a fair launch for RIFI United, no one (including us) have the token before TGE

Right now we have done several burning sessions after NFT sale events. The first NFT Mystery Box sale concluded a few days ago with 3,273,303 RU being burned. You can find more details here.

For the FINAL NFT Mystery Box Sale, we also applied the burning system as well. We successfully burned all of the revenue from the event, totaling 4,238,400 RU, reducing the Circulating supply to 51,071,358 RU, and reducing the average number of RU per holder to 20,371.5 RU each. You can read about it here.

Business Development

Q — Ayeley from GAINS: Alright. What milestones have RIFI United achieved so far? And what are your short-term and long-term plans?

A — Ngan from RIKKEI: On our journey to be a unique depth metaverse providing lasting enjoyment for football aficionados, we are proud to say that we had made some great achievements. Let me tell you more:

  1. Introduced RIFI United — a football metaverse: Rikkei Finance CTO Tung Vu filmed a video to introduce to the community about RIFI’s first product — RIFI United. The game is an NFT football metaverse. It is designed with numerous and fanciful gaming activities centered around the players. You can watch it here.

2. Launched RIFI United RU IDO $RU IDO launched on November 9, 2021. RU was listed on PancakeSwap right after IDO leading to a massive 600% increase from the IDO price. $RU witnessed $10,000,000 in trading volume and the trading pair RU/BUSD was on an impressive #top 1 trending on Dextool. With more than 3000 holders in the first 12 hours listing, $RU IDO is considered a great victory to RIFI United and Rikkei Finance.

3. Conducted RU Marketplace RIFI United Marketplace, a fully-functional decentralized marketplace for NFT players trading, went live on November 15 2021. 24H Volume hits 1,567,960 RU with the highest price of 100,000 RU/ NFT.

4. Launched the First NFT Mystery Box Sale Event 1st NFT Box Sales has successfully concluded with 12 sale sessions. A total of 720 boxes, including 3,600 NFT players, were SOLD OUT. Each sale round was CLOSED in less than 1 min. A total of 3,273,303 RU from selling boxes was burned, reducing Circulating Supply to 63,726,697 RU.

5. Launched $RU-BUSD Liquidity Farming Vault LP Farming Vault is available at https://apps.rifiunited.io/vault. TVL in the first 24hrs is 1,150,664 LP ~ 16,000,000 RU

6. Built a new partnership with Binance NFT, Crypto Premier League, Kaby Arena, Heroverse, Oraichain & aiRight — A strategic partnership between RIFI United and Crypto Premier League was formed on November 19, 2021. With Crypto Premier League, we are confident to take closer movements to gain its mission of becoming a unique gaming depth providing lasting fun for players.

- Strategic partnerships among RIFI United and Kaby Arena & HeroVerse were built in order to not only enhance the game industry and our developments but also enable all of you to enjoy future cross-staking and cross-NFT programs.

- The partnership extended further with Oraichain & aiRight assisting Rikkei Finance to consolidate the fairness and transparency of the RIFI United game through the use of Oraichain’s Verifiable Random Function (VRF).

- Partnership with Binance NFT has just been announced today. To celebrate our collaboration, we decided to conduct an Exclusive Legendary NFT Auction taking place on Thursday, Nov 25, 2021, at 4 AM UTC.

7. Launched the Final NFT Mystery Box Sale Event before game release Final NFT Mystery Box Sale closed with a total of 720 boxes being SOLD OUT. Each sale round was CLOSED in less than 1 min. A total of 4,238,400 RU is being burned, reducing Circulating Supply to 59,488,297 RU.

Talking about our upcoming plans, we’ll have:

1. An Exclusive Sales event to celebrate the partnership with Binance NFT

2. We will have RIFI United listed on CEX.

3. NFT Farming Vaults will be launched after listing.

4. RU Marketplace will then be reopened after farming.

5. More Marketing partnership news will be disclosed.

6. Finally there’ll be a blast of game events.

Q — from Telegram user Nico: Can you explain how the community can participate in this interesting farming that you have developed? What requirements do users have to have? Could you develop some kind of farming for your NFTs?

A — Ngan from RIKKEI: you could read here to understand the mechanism of our LP Farming Vault here. For NFT farming, we do have plans for it. Early NFTs holders will be able to make a significant profit from marketplace trading & upcoming NFT Farming and get a chance to be whitelisted for RIFI IDO, so seize the chance to win RIFI United NFTs on Binance NFT.

Thank you for joining us today — Ayeley Commodore-Mensah from GAINS

Happy to be here with all of you. — Ngan from RIKKEI

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