A Revolutionary Solution to DeFi Yield Farming: The R3Fi Litepaper
Cryptocurrency is booming again with vigour not seen since 2017. The current growth has brought optimism back and the emergence of a new class of crypto assets and companies. In spite of previous market hiccups, the actual technology continued to evolve with developers finding new and clever ways to solve problems spanning both physical and digital realms.
New cryptocurrency assets have begun to launch as products unto themselves with fully funded product development and PR campaigns. These tokens are marketed as holding different kinds of inherent value. Hopeful speculants and digital prospectors get excited by these new currencies and buy up these tokens in the hopes of quick returns.
What is a rarely spoken truth, however, is that few of these new contracts offer long term value. A company can have major success in both market penetration and adoption of their their technology without it being reflected in the value of their cryptocurrency — much to traders’ disappointment. Seasoned traders know this and actively ignore them.
Another issue affecting the longevity and fairness of these new coins is the fact that large proportions of the total token supply is often held by the development team and their partners meaning the game is rigged before anyone else can buy in.
To add insult to injury, most cryptomarkets are heavily manipulated by bot traders that do swing-trades in a matter of milliseconds. This alone will strip human traders of their returns; 97% of all traders who attempt to trade against bots lose money, killing cryptocommunities.
R3FI marks a change in how crypto trading is conducted. It is a community funded and community driven cryptocurrency where the token is the actual technology. The ethereum smart contract is an improved iteration of the RFI contract.
One of the several ways this R3FI improves on RFI is that it’s designed to earn for the community. 5% of all trades, buys and sales, are distributed among holders serving as a passive form of income that incentivizes holding. In effect it serves as a bank for the community. This fee is distributed automatically, and users can watch their wallet grow without having to stake or claim.
The 5% fee also works as a mechanism to strip bot trades of their power. Bots that swing trade lose 10% back to the community.
In short, the token provides the most value to its community. To make sure that the community would be the winners, the presale was at a 10 ETH hardcap, liquidity was locked, and the developers renounced ownership upon launch, with no developer or partner wallets generated.
Thanks to its engaged and ever-growing community, R3FI has had a tumultuous yet amazing start to its life. Inevitably, other crypto projects will follow in the footsteps of R3FI. We plan to build this coin to outlast them all.