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Poly Network AMA Recap with RioDeFi

The blockchain-based staking platform RioDeFi(@riodefiofficial), was invited to Poly Network (@PolyNetwork2) AMA, taken place on 31 March in the Poly Network Telegram Community. From the Live AMA with James, CEO at RioDeFi, this recap fully grasps the information discussed during the AMA.

Poly Network is a global cross-chain protocol for implementing blockchain interoperability and building Web3.0 infrastructure. Poly Network has integrated 20+ blockchains, including Ethereum, BNB Chain, Polygon, Avalanche, Fantom, Arbitrum, Optimism, Metis, Boba, OKC, HECO, Neo, Ontology, Zilliqa, Gnosis Chain, etc. Since the launch, the protocol has enabled cross-chain asset transfer of more than 16 billion U.S. dollars involving more than 347,020 addresses on different blockchains.

RioDefi was created to accelerate the mass adoption of digital assets by bridging the gap between traditional and decentralized finance. We envision a world in which everyone has access to decentralized financial services and no longer relies solely on legacy financial systems.
We have created a series of blockchain products to help achieve this goal:
1) RioWallet App & Web, a complete multi-chain crypto and NFT wallet built for web3, giving secure access to web3 protocols and the gateway to a suite of RioDeFi products including RioCard and fast crypto to fiat on and off ramping.
2) RioChain, a Substrate-built, EVM compatible blockchain built for cross-chain interoperability
3) RioStox, a soon to release regulated digital securities exchange providing investors open and transparent access to financial instruments such as fractionalized NFTs, cryptocurrencies, and STOs.
4) RioCard, a RioDeFi Debit Card that provides consumers the freedom to use cryptocurrency as their medium of payment for their day to day purchases and transactions.

Q1 What does the integration between RioDefi and Poly Network bring to the users and developers?

A: Through our collaboration with Poly Network, a scalable and secure bridge has been created between $RFUEL’s ERC-20 token and a BEP-20 version. The bridge makes $RFUEL swappable between Ethereum and Binance Smart Chain and for our users it’s a bullish signal, as this extends the $RFUEL token utility into the vast BSC ecosystem,

Q2 How can users take advantage of this utility in the Binance Smart Chain today?

A: RioDefi is launching our much anticipated DeFi Pool, which enables the staking of BEP20 RFUEL on Binance Smart Chain via RioWallet Web. The minimum APY will be 20% and the rewards are paid out in bUSDT. Through this collaboration with Poly Network, users could safely and securely transfer ERC-20 RFUEL tokens to BEP-20 using the Poly Bridge, which then allows users to start staking their BEP-20 RFUEL via RioWallet Web.

Q3 What is RioDefi doing to bridge traditional and decentralized finance?

A: RioDeFi is building a world where everyone has equal access to decentralized financial products that they can use everywhere, everyday.

In 2022, we will be launching a series of financial products to live up to our mission of bridging traditional and decentralized finance.

The first product is RioStox. It is a regulated & licensed digital securities exchange that enables traditional retailers, professional investors and issuers to invest into cryptocurrencies and digital securities within a simple and secure environment. We are here to open up blockchain financial opportunities to everyone who is interested in cryptocurrency-related products and services.

Moreover, with the upcoming launch of RioCard, we will allow people to use cryptocurrencies as a globally accepted payment method and enable a seamless transition from traditional financial instruments into cryptocurrency.

Q4 Why did RioDeFi choose Poly Network among others for partnership?

A: Definitely the reputation and stability of the Poly Network ecosystem. With over $15B transactional volume and $500M in total value locked, you’ve proven to be a reputable partner in progressing blockchain interoperability.

Interoperability is essential to the core of RioDeFi’s business model as we continue to ship out our series of cross-chain DeFi products.

Q5 Any exciting plan for future developments? What shall users expect?

A: 2022 will be an exciting year for RioDeFi. As we have mentioned above, we are launching RioChain, RioStox, RioCard, and improving the user experience on RioWallet.

For RioChain, our primary focus is on delivering a Substrate-built and EVM compatible chain to onboard an ecosystem of incubated dApps and EVM protocols. Tech-wise, the chain is currently being audited by CertiK and over the next few months we look forward to releasing a developer sandbox, introducing a nodes & validators program, and launching the upgraded RioChain mainnet.

While for RioStox, not only are we looking at offering licensed and regulated cryptocurrency trading, the thing our team is most excited about is offering a regulated trading platform for fractionalized NFTs and democratizing the opportunity for investors to own and trade some of the world’s biggest NFT projects.

With RioCard, we will be bridging the utility between cryptocurrency and everyday transactions. By doing so, RioCard will help cryptocurrency reach its potential to become a timely, secure, and relevant medium of exchange from morning coffees to shopping at your favourite grocery store.

And lastly, we continue to improve the user experience of RioWallet with the upcoming introduction of the RioWallet browser extension to provide a seamless and secure solution for managing your cryptocurrencies & NFTs.

Keep an eye on our Twitter, where we will keep you all posted when new products are launched.

The AMA with RioDeFi was successfully concluded. We will have more AMA coming in the following weeks. Please stay tuned!

For more info about Poly Network

Website | Telegram | Medium | Twitter | Discord | Github

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Poly Network

Enhancing connections between ledgers by providing interoperability in Web 3.0.