The Weekly Reflection #8
February 19, 2021
Welcome to our Weekly Reflection AMA! This is our 8th edition of this, and we feel it’s a great way to bring our community together, stay updated & become aligned with our efforts. Thanks for joining us!
Our main topic today is our Amen To 10 Campaign.
RFI Introduction
Reflect is a global yield generating protocol that seamlessly compounds RFI tokens in users wallets.
Reflect works by applying a 1% fee to each transaction of RFI and instantly splitting that fee among all holders of the RFI token.
This simply means if you hold RFI, you will earn more RFI.
Holders do not need to stake or wait for fees to be delivered. Fees are awarded by the smart contract and are immediately reflected in the holders balance.
We like to refer to our 3 Pillars of $RFI:
Simple — Hold and earn. That’s it.
Safe — No smart contract risk, keep tokens in your own wallet
Sustainable — Deflationary on Growing Network of integrating projects, consistent volume
Progress Update
The community is growing, some new leaders are emerging & we’re all incredibly excited to see what the future holds in store for RFI & the entire Reflect Ecosystem.
The Elevate staking contracts are being finalized, as well as some exciting new innovative design concepts for treasury — more to follow as these products (currently under testing) become finished and are fully audited/ready to deploy.
As a reminder, we are a 100% community owned and driven project. With that said, we are always looking for additional hands and talented people to step up to support the cause.
If you wish to donate your time and effort, please reach out to @El_Crypto_Chapo, @s2bomb, or @cryptodamo and we can get you moving!
Fill out our community volunteer form linked here if interested.
Community Growth
Our Telegram community has grown to over 5,800 members this week. +150 members week-over-week.
The Reflect Foundation’s Twitter account now has over 1620 followers. Up nearly 100 since last week! If you haven’t already, please follow our official account at www.twitter.com/ReflectFndtn/
Real Wallet Holders
Our total real wallet holders increased to 3,987. This is growth of over ~70 week over week and set another ALL TIME WEEKLY HIGH!
This can be seen in the chart below:
Unfortunately, we fell short of our goal of growing real wallet holders to 5000+ by mid-February. It was a lofty goal, we still have a lot to be proud of. We hope that with Enreach launch & ELE/RFI/NRCH farming opening, we can make a strong push and reach our goal within the next few weeks as we add new depth to our communities! Thanks to all of you for your help in making it happen.
Holder Distribution
For reference, the pink “Excluded” section of this chart represents the RFI that is currently in liquidity pools (not holders).
This distribution remains extremely healthy. As you may see, the large holders week-over-week are going NOWHERE.
It’s great to see our smallest holders actually growing, the longer tail we have the stronger our community and ecosystem as a whole will be.
Volume Update
As a reminder from last week, the volume update is a summary of the Daily Transfer Value (DTV), a new metric we were able to pull measuring ALL transactions where th 1% tax is incurred:
> Uniswap Trading Volume
> Adding & Removing Liquidity
> Sending RFI wallet-to-wallet
Here’s the chart:
BitMart fee share has not yet been integrated. We have been fighting with some holiday schedules with the Chinese New Year and are still working toward making this happen as quickly as possible.
Once this fee share is included, this will be part of the DTV calculation as well.
Weekly Transfer Value (WTV) is another metric which I’d like to start sharing with everyone. In the past week, we’ve seen ~$7M in WTV.
So in the last week we have ~$1.0M/day on average. We will track this moving forward and work toward increasing this.
Main Topic → AMEN TO 10
First point of clarification — Amen to 10 is not just about getting RFI to $10, it’s also about pushing RFI to $10M in Daily Transfer Value also.
We want our price/rewards/APY to move in lockstep with one another, so this isn’t just about driving the price of RFI to $10.
$10 price target is a short term goal, but it’s more about what this represents for our community & the way it has the ability to change lives and provide a platform for our future growth as an ecosystem.
$10 RFI with 10M in volume means that many of us here will have achieved the true Financial Freedom that we all have dreamed of.
One of the little talked about aspects of RFI is the incredible impact of the real-time compounding of the distributed rewards.
Compound Effect at $1M DTV
The chart is reflective of $1M in DTV. As shared last week, we already have $1.5M in DTV….so this is grossly underestimating the return.
Compound Effect at $5M DTV
At $5M in daily volume the returns are just staggering. But…this isn’t Amen To 5 ladies and gentlemen. THIS IS AMEN TO 10!!
Compound Effect at $10M DTV
This is life-changing money we’re talking about here for all of us. If we’re successful in reaching our Amen To 10 goal, together, it truly means financial freedom can be achieved for many reading this.
Content Creation Contest
We currently are running a video content creation contest as part of our drive for Amen to 10.
You may have seen some of the incredibly talented, well-known people around the world talking about RFI…we’d love to see the contest entrants showcase their creativity and really go all-out to make some killer videos that will be used for some time to come.
But guys, what if I’m not a content creator?
If you aren’t a video creator, no worries! You can jump on tiktok and dance to any hit from KryptoBum Ft. Kaz Marinez, one of our personal favorites:
https://www.youtube.com/watch?v=A79_BFZ36vU
But if that isn’t for you then we have a give away that is SUPER simple. Go to the following link and sign up with your twitter account for the chance to win 50 RFI.
We are giving out 50 RFI (each) to 25 people!
Community Spotlight
This week we are showing our love to someone you may not know, but he has put in massive work translating almost EVERY article for his Indonesian community — @putradji!
As soon as Putra put his hand up to volunteer for Reflect he has been translating every article we have ever done NONSTOP.
He is literally the most published writer for Reflect — Check out his work https://medium.com/reflect-foundation
@putradji, we are so thankful for your dedication to take care of your Reflect community while at the same time taking care of your family at home.
Yesterday we as a family gave Putra .25 ETH from the Reflect treasury to support his family and some serious bills he needed to pay for his daughter.
Thank you to everyone that contributes to our Treasury. Because you did, we were able to take care of Putra.
Putra and Reflect family, you are amazing!
AMA
Q: Staking and yield farming facilities greatly improve at this time, does RFI FINANCE provide staking and farming facilities, and do you have your own uniqueness in these facilities?
A: By holding RFI, one receives frictionless yield (aka Passive Income) without the need for staking. However, for those with a more aggressive investment strategy, projects like Enreach and Elevate will offer fantastic staking options for significantly higher yield. All fully audited and designed by gifted, ethical developers like Morpheus and the Enreach team.
Q: Is it true that the 1% reward that is distributed to token holders, is actually profit or as some like to call it, YIELD? Would you agree that RFI is NOT interest based?
A: This is 100% true, the reward distributed is profit from trading volume redistributed to the network. There is no interest involved whatsoever, since there is no lending application in the distribution. Rewards are 100% profits belonging to the network of tokenholders.
Q: Any future plans for charity? I think rfi ele could be a perfect vehicle for charity. Like a wallet setup and proceeds get sent to a charity organization of choice by the community.
This will increase engagement, awareness and also we would be putting positivity to the world.
A: @pandapower21 great question. You totally get it! With the upcoming treasury contract it will be possible to set up wallets that hold ELE (and maybe RFI? tbd) where the principle is locked and the yield is periodically kicked out to a spending wallet. With this setup anyone can contribute to a wallet set up for any purpose they like. We’ll start with the ELE treasury as a proof of concept and to provide a sustainable budget going forward to support the project. We look forward to other treasuries being set up for anything from The Electronic Frontier Foundation and The Internet Archive to local intramural sports teams and community-owned businesses. The possibilities for sustainably funding collective endeavors is endless!
Q: ETH gas fees are insane, and most projects are starting to abandon ship to Binance Smart Chain or using Matic. Is RFI going to abandon ship or is it committed to making ETH work?
A: We believe this is a short term problem and are absolutely committed to ETH. As for gas, we are working with passion and zeal to make sure you have the best options to buy and HOLD on CEX’s and expect Uniswap V3 to include layer 2 gas savings methods as well. If anyone knows of options for cross-chain functionality that would work seamlessly with RFI’s fee share mechanism and doesn’t divide our network….we’re all ears.
Q: Less of a question, more of an idea. Could you guys add a 90 day rolling average APY to the website? I think that if there were a concrete value that people could see on the website then it would spark a lot more interest.
A: Sounds pretty good! We’ll chat with Brayden and Morph and see if that is possible.
Q: What YouTube crypto influencers can we get to do an informative video on Rfi and what sets it apart in the crypto sphere?
A: Negotiations and payment have been sent to one influencer and another is currently being negotiated. I actually just did a podcast this morning. Wait and see kids.
Q: What is the progress on the RFI casino?
A: We still own the rights to RFICasino.com, but we really haven’t pursued the build-out yet. There are definitely legal issues in play here with respect to creating a gaming platform & we’ve had (just a few) other priorities :)
Creating an RFI-centric gaming platform is just one of the many projects that could be built out once we have the Enreach toolbox in place.
As discussed at length, the vision is to build build build build build
This could certainly be a part of our ecosystem in the future to help unlock more token value & enhance network volume.
We are actively seeking builders! If that’s you, please DM us.
I’m sure it will be added to our paradise. It’s just a matter of time! With all those profits compounding, we are gonna have to have somewhere to blow our money.
Yes, for sure — we want talent. Period. Devs, ambitious people with ideas, artists, writers, you name it…we want to know how you can help!
Call to Action
#1 — Subscribe to the Weekly Reflection emailing list → https://www.reflectfoundation.org/the-weekly-reflection/
#2 — Follow us on Twitter → https://twitter.com/ReflectFndtn
#3 — Join the giveaway and be one of 25 people who will walk away with 50 RFI → https://gleam.io/qpiX8/amento10-video-competition
Reflect Foundation Links
💻 https://www.reflectfoundation.org/ [still being built]
🐦 https://twitter.com/ReflectFndtn
International Telegram Groups
Indonesia http://t.me/joinchat/HLPdNXVrNYy70rI5
India http://t.me/joinchat/HBEpuL14fGsJN8E
Italia http://t.me/RFI_Itali
France http://t.me/FrenchReflectFinance
Latin A. http://t.me/reflectlatinameric
Brazil http://t.me/RFIBrasil
Filipino http://t.me/ReflectPinoy
Espanol http://t.me/RFI_Espanol
Russian http://t.me/reflect_finance_RUS_unofficial
German http://t.me/RFI_Germany
Turkey https://t.me/RFI_Turkey
