Letter of the Recent Progress and Planning of RAI Finance
Dear members of the RAI Finance community,
After RAI Finance’s native token RAI was launched on Bithumb and Huobi Global, RAI Finance has achieved a series of progress in products and external cooperation. We are entering the DeFi market with rapid development.
To this end, RAI Finance project team wrote a letter to take everyone to a comprehensive analysis of recent progress and plans.
The past week was of crucial significance to RAI Finance.
As a core member supporting the Bootsrap network, we are committed to building a decentralized peer-to-peer financial ecosystem-RAI Finance. We are thrilled that we have received support from industry-leading trading platforms Bithumb and Huobi Global.
From project initiation to team building to attracting investment, our team members worked together on the online trading platform. We are delighted that our efforts finally ushered in results. Going online on the world’s leading trading platform is an important milestone for us, but this is just the beginning.
Next, we would like to introduce the development we have achieved and how the RAI ecosystem will continue to expand.
Why choose Bithumb?
For RAI Finance, the Korean and Chinese markets are fundamental. This is first attributed to our core technology partner - “League of Traders”, which is a platform with a 14,000 daily active user base, with an annual transaction volume of more than 2 billion US dollars, which is also the primary goal of our user pool in the future group. Since this platform’s user base is mainly Korean traders, we believe that the first launch of RAI on Bithumb will help RAI products acquire the first and most helpful user pool.
Huobi Global undoubtedly has a global user base and has become the world’s second-largest trading platform (according to Coinmarketcap data on April 8). Therefore, in the future, Huobi Global is also a key platform for us to quickly realize the significant growth of the user pool of RAI products and help us achieve our goal of expanding to a decentralized financial platform.
As we mentioned in the AMA at the beginning of the project, one of our significant advantages is the seamless connection with the centralized trading platform. We believe this will positively impact the value potential of native tokens for the community and us.
How are we different from other DeFi applications?
At the beginning of the project, RAI Finance’s positioning was to create a product that can achieve two-way interaction. Our ultimate goal is to provide users with a simple and easy-to-use trading experience. Using a simple exchange function to migrate to a transaction book DEX, Swap with AMM algorithm can be used to achieve precise and complex transactions.
From the recent progress of the head project in the DeFi field, we can easily find that users need these features very much. For example, Uniswap v3 adds a transaction book form based on the interface developed by v2. Various other swap products from Uniswap also show signs of being included in the trading book.
We predicted these trends before starting the project and quickly entered the market to gain a first-hand advantage. We have been focusing on the development of synchronized swap and trading books since October last year. To support more types of assets, we are developing a product that supports cross-chain.
We are also developing IDO products to allow users to invest in some high-quality projects at the initial stage. Considering the instability of the cryptocurrency market, we are also developing a stable token module to realize the conversion of swap assets to fixed value assets.
Next, we will introduce to you our follow-up plan for 2021.
2021 second quarter
· Implement IDO and SWAP functions based on Ethereum EVM, and support staking RAI to generate stable coins
· Realize the cross-chain of assets from RAI to other public chains
· Continue to develop core functions based on substrate
· Continue to promote the launch of the official platform on Polkadot
2021 Q3 and Q4
· Integrate NFT assets
· Realize product integration to Polkadot
· Realize the integration of social trading functions and complete full operation
As we mentioned in the previous product introduction presentation, our products will continue to be improved to integrate the essential features of DeFi and provide a better trading experience.
In terms of parachains, Kusama parachains are currently in the final stage of testing. In theory, we will pledge DOT worth tens of millions to win the top spot in the parachain. At the same time, one thing is to say, in a serious and responsible attitude towards products and users, we still maintain a cautious view on the scalability and security of the Parachain of Polkadot’s mainnet. Therefore, while developing an independent parachain based on Polkadot, we will continue to pay attention to developing the main network to achieve a soft landing.
Regarding RAI’s future development of independent parachains and the launch of more trading platforms, we will continue to announce in official channels, so stay tuned.
We are very grateful to the community fans for their attention to RAI Finance. We will continue to expand the application scenarios of RAI and increase its value potential. In the future, in the rapidly advancing DeFi industry, we are confident that RAI Finance will occupy a prominent position.