AMA Recap: Huobi Global x Rikkei Finance
Recently, Rikkei Finance CTO Tung Vu took part in an exciting AMA with the Huobi Global telegram community!
Here is the recap if you were unable to attend:
Date: December 6, 2021
Time: 11:00 AM UTC
SEGMENT 1 — INTRODUCTION
[BENEDICT Huobi Community Manager]: We are starting from the Introduction segment. Welcome @tung_vt to our community!
[Tung Vu | Rikkei Finance — Will never DM you first]: Hi everyone 👋 Hi Benedict
[BENEDICT Huobi Community Manager]: @tung_vt
Can you share with the Huobi community about your background and the team behind the project?
[Tung Vu | Rikkei Finance — Will never DM you first] My name is Tung, Co-founder & CTO of Rikkei Finance. I completed my Ph.D. from Nanyang Technology University, Singapore in 2017. I had previously served as an AI scientist, researcher at various reputed institutions.
About my team, actually most of the information can be found on the internet. Let me share with you something more personal.
Hoa (co-founder and CEO of RiFi) and I, we both come from a company named Rikkeisoft, one of the biggest IT companies in Vietnam. Rikkeisoft was established 9 years ago, back then we had only 12 developers, now we have 1300+ in Vietnam, Japan and others places. You can see that we didn’t raise any money for the seeding round, it’s because we received a lot of support from Rikkeisoft, not only the financial aspect but also solidity developers, marketing team or legal support as well.
We also have a guy named Dang Bao Duc, Rikkei Finance’s CFO and a former Quantitative Researcher at Keebeck Alpha. He is passionate about building a sustainable lending protocol with high-standard risk management that can enhance users’ experience and encourage greater participation.
[BENEDICT Huobi Community Manager]: Wow! @tung_vt
Please give a brief introduction about RIFI — Rikkei Finance ?
[Tung Vu | Rikkei Finance — Will never DM you first]: Rikkei Finance is a Metaverse DeFi Protocol, enabling a Safe and Secure Open Lending with core features: Cross-chain support, NFTs lending, and Liquidation coverage. 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. Rikkei Finance successfully raised the initial funding of $5.6M to build the lending protocol: https://finance.yahoo.com/news/rikkei-finance-raises-5-6-144500953.html#click=https://t.co/azJvlAiq7o
[BENEDICT Huobi Community Manager]: I’m happy to hear this🥰
I have one vital question here @tung_vt
Can you also share what are the utilities of $RIFI ? Please also share and briefly explain your tokenomics. We’re so excited to learn more!
[Tung Vu | Rikkei Finance — Will never DM you first]: Thanks for your question!
About the token utility, our native token $RIFI performs a vital role in the functioning of the Rikkei Finance ecosystem. The RIFI token is expected to have some utilities as follows:
- Payment: As the native platform currency, RIFI would be used by users to pay for all fees on the platform and insurance fees/premiums.
- Governance: RIFI would allow holders to propose, debate and vote on governance proposals to determine features and/or parameters of the Rikkei Finance platform as well as protocol improvements, with voting weight calculated in proportion to the tokens staked.
- Reward: In order to promote users to provide liquidity and stake their digital assets into the lending pools for borrowers to utilise, liquidity providers would be rewarded with RIFI tokens according to each user’s relative contribution after various adjustment and correction parameters.
About our tokenomics, please visit our website to have a clearer concept of RIFI’s tokenomics: https://rikkei.finance/tokenomics.
SEGMENT 2 — TWITTER QUESTIONS
[BENEDICT Huobi Community Manager]: We move to Segment 2.
There are some key questions from Twitter and i’m going to select some of these questions and I will be glad if you can do justice to those questions.
[Tung Vu | Rikkei Finance — Will never DM you first]: Sure! I’m more than ready to clarify your concern about Rikkei Finance
[BENEDICT Huobi Community Manager]: @tung_vt What are the main features of the project and how was it developed? Where does its core competitiveness lie? What advantages does it have that allow it to stand out in the market?
[Tung Vu | Rikkei Finance — Will never DM you first]: Good question!
Although there are big competitors in the field, we believe that there’re plenty of room for improvement and we can still contribute a lot for not only the protocol but also the community, which motivate us to come up with our key features for Rikkei Finance:
1. 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.
2. 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.
3. 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.
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.
5. 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 APY.
[BENEDICT Huobi Community Manager]: Powerful 👍👍
And you really kill the question 👍👍👍
[Tung Vu | Rikkei Finance — Will never DM you first]: Thanks for your words!
[BENEDICT Huobi Community Manager]: I just sighted another good question from twitter @tung_vt
Currently NFT is gaining popularity and it seems that NFT has a bright future. Do you have any plans to include NFT??
[Tung Vu | Rikkei Finance — Will never DM you first]: Actually RIFI United is one of our products, which is nurtured with the aim of allowing users to utilize RIFI future cross-staking and cross-NFT programs, as well as expedite 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: https://rikkei.finance/blog/RIFI-United-P2E-Gameplay-to-be-Introduced
[BENEDICT Huobi Community Manager]: Dear Audience!
You might find an answer to the upcoming Quiz from the contents our guest has dropped so far🤏
The next question will help the entire community @tung_vt
How can I buy RIFI token?
[Tung Vu | Rikkei Finance — Will never DM you first]: Our native token $RIFI is now not available on any exchanges yet. $RIFI is going to have a Dual IDO on Huobi #Primelist Exchange and RedKite Launchpad on December 7, 2021.
Let me explain more about the IDO & IEO timeline of the token right now!
[BENEDICT Huobi Community Manager]: Good! Very necessary
[Tung Vu | Rikkei Finance — Will never DM you first]: 1. $RIFI IEO on Huobi Primelist
- Sale period: 10:00 UTC to 12:20 PM UTC Dec 7, 2021
- Trading time: 13:00 UTC, Dec 7, 2021.
- You have 2 ways to participate in the sale: Register via Queue and Register via HT Holding. For a detailed instruction to join $RIFI IDO on Huobi: https://www.huobi.com/support/en-us/detail/84892673770816
2. $RIFI IDO on RedKite Launchpad
- Whitelist registration time: 10 AM UTC, Dec 3 to 9 AM UTC, Dec 6, 2021
- IDO Sale Open: 11 AM UTC, Dec 07, 2021
- Listing time: 13 PM UTC Dec 07, 2021
- Claiming time: 13:30 PM UTC Dec 07, 2021
For the fullest details about $RIFI IDO & IEO, pls check here: https://medium.com/rikkeifinance/rifi-ido-participation-details-on-huobi-primelist-redkite-aa96f81288d
[Combot]: 🌟 Tung Vu | Rikkei Finance — Will never DM you first has reached level 2!
[BENEDICT Huobi Community Manager]: Our bot recognised your good content and it has promoted you 😂😂😂
[Tung Vu | Rikkei Finance — Will never DM you first]: Oh really? 😂 Hope that my answers are clear enough for you guys to gain insights about Rikkei Finance.
[BENEDICT Huobi Community Manager]: Sure
[Tung Vu | Rikkei Finance — Will never DM you first]: Btw I just finished answering the 3rd question!
[BENEDICT Huobi Community Manager]: Thank you so much!
Because of our time, I need to be fast from now on @tung_vt
Partnerships are one way to get a better position in the market. Talking about strategic partnerships, does RikkeiFinance have any partnerships or is included in any collaborations that may be beneficial to result in exponential growth for both team?
[Tung Vu | Rikkei Finance — Will never DM you first]: Rikkei Finance in general formed many strategic partnerships with reputable investors such as Signum, Hyperchain, Kyber Network, LD Capital, YBB, X21, Kyros, PNYX, Tomochain, Kernel, ArkStream, Inclusion Capital, K300, STC, Oraichain.
Recently, our new partnership with RedKite by PolkaFoundry and Huobi Primelist has helped us in conducting our upcoming IDO and IEO, as shared in the previous question.
A lot of partnership news will be soon disclosed to our community after launch. Stay tuned.
[BENEDICT Huobi Community Manager]: Wow! Strong partnership 🙌
[Tung Vu | Rikkei Finance — Will never DM you first]: Specifically about our product RIFI United, RU itself also built partnerships with big bosses in the gaming sector such as Kaby Arena, HeroVerse, Crypto Premier League.
Most recently, we had a new partnership with Binance NFT. Our RU NFT Legendary Auction on Binance NFT closed with 26,205.36 USD as the volume of NFTs being traded in the marketplace. More info about the event can be found here: https://medium.com/rikkeifinance/ru-nft-legendary-auction-closed-with-26-205-36-usd-trading-volume-9707a4d9ed04
[BENEDICT Huobi Community Manager]: The next question is going to be the last question on this segment @tung_vt
What about long-term investors? I understand that a lot of guys want buy tokens just for profits, but any their speculations with tokens can have big impact to the future of project. Can you talk reasons why they should hold tokens? Give more details please
[Tung Vu | Rikkei Finance — Will never DM you first]: One interesting thing about us is tokenomics.
There are 0% released at TGE for both strategic and private investors, and they only get their token after 5 and 3 months respectively. That’s a HUGE barrier and shows the world that we are very picky on choosing the investor, they must bring some values to our project and have a long-term investment mindset.
Secondly, we have a 1-year-ahead plan, and both strategic and private investors are on the same page with us. Therefore, the early dump will not occur as all investors are holders.
[BENEDICT Huobi Community Manager]: Thank you once again our amiable guest house.
[Tung Vu | Rikkei Finance — Will never DM you first]: My pleasure to be here sharing with you guys about RIFI 😊
SEGMENT 3 — QUIZ WITH MEMBERS
In the final part, we tested the knowledge in terms of the Rikkei Finance project. We prepared 5 questions for this part, so everyone could be a part and answer. Winners were those who had the correct answer first.
[BENEDICT Huobi Community Manager]: Closing Remarks
Thank you Tung Vu; you are so amazing🤩.
We also thank you for sharing your thoughts and answers with all of us.
We are really happy to have you around
[Tung Vu | Rikkei Finance — Will never DM you first]: Thanks for having me today. You guys are great
<CTO forwards link from RIFI announcement channel: https://t.me/rikkeifinance_official/238>
👥 Our Official Social Media Links
[BENEDICT Huobi Community Manager]: Thanks to the Huobi community for engaging in the amazing AMA. The AMA has ended.
Everybody should please join them and let grow together.