Rikkei Finance
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Rikkei Finance

Double Farming Vault is Set to Launch

Dear Rificians,

To celebrate the upcoming release of RIFI Lending Protocol, we are thrilled to offer you the opportunity to profit and diversify your investment portfolio through the Double Farming vault which will be available at 10AM UTC on January 13, 2022.

The program is the foundation of providing liquidity for RIFI lending pools in the future. We will deposit tokens staked in Double Farming vaults to the Venus protocol. Participants can now rest easy as they will bolster their earnings and diversify their assets effortlessly by receiving not only BUSD but also XVS and RIFI in return.

Key Takeaways

  1. The Double Farming Vault will be available at 10AM UTC on January 13, 2022.
  2. Rikkei Finance does not lock your deposits, and you can withdraw your tokens at any time.
  3. You can deposit BUSD to earn XVS + RIFI + BUSD as rewards.
  4. Reward Claiming:
  • XVS and BUSD: You can claim XVS and BUSD at any time.
  • RIFI: After April 13, 2022 you can claim your RIFI reward from the vault. The vesting time for the RIFI rewards is three month after your claim, and it will be released every block.

5. There are two main parameters taken into account when calculating your rewards: The length of time you deposit in the vault and Your-balance-to-Total-balance ratio. So, the more you deposit in RIFI Double Farming vaults over a more extended period, the greater APY you will receive.

6. Participants will broaden their investment portfolios and bolster their earnings effortlessly despite recent market dumps.

How does it work?

RIFI Double Farming vault enables users to participate in the farming process by staking BUSD to earn XVS, RIFI, and BUSD as rewards.

Rikkei Finance does not lock your deposits, and you can withdraw your tokens at any time. We will deposit tokens staked in the Double Farming vault to the Venus protocol. You will earn XVS and BUSD according to Venus’s real-time interest rate while the amount of RIFI rewarded will be determined based on your staking proportion. Be the early adopters to get the highest rewards with the highest initial interest rate.

For example, the total fixed rewards for each block is 900 RIFI. If only one person joins the vault, that person will receive the entire reward including 900 RIFI. However, if you stake 100 BUSD and another stakes 300 BUSD, which means your deposit amount accounts for 25% of the TVL, you will be rewarded with 25% of the reward pool, which is 225 RIFI, while the other will be able to claim 675 RIFI.

So basically, there are two main parameters taken into account when calculating your rewards: The length of time you deposit in the vault and Your-balance-to-Total-balance ratio. So, the more you deposit in RIFI Double Farming vaults over a more extended period, the greater APY you will receive.

XVS and stablecoin rewards can be claimed at any time without vesting time while RIFI rewards will be claimed after April 13, 2022 with a 3-month linear vesting scheme.

For example, if you claim 900 RIFI, you will get it to your wallet within 3 months (equivalent to 90 days), but you can not take it once. You can collect 1,11% everyday, meaning you’ll receive 10 RIFI each day.

How can you benefit?

  1. Protection against fluctuations in the market

In the event of a bear market where investors begin to pull funds out of the vault and sell their rewards, the APR skyrockets due to the rewards doling out a fixed number of RIFI each block to participants of the vault. Therefore, the lower the number of investors stake in the vault, the larger the proportion of the RIFI earned by investors participating.

By participating in RIFI Double Farming vault, users can now rest easy as they will bolster their earnings effortlessly despite recent market dumps.

2. Broaden your investment portfolios

With this staking mechanism, anyone participating in the vault will seize the chance to diversify their assets. They will not only possess $BUSD but also be able to own $XVS and $RIFI, and that is how liquidity providers diversify their investment portfolios.

Save the date: 10AM UTC — 13 January 2022. RIFI Double Farming Vault will go live! Bolster your earnings effortlessly ‼️‼️ Why not??

About Rikkei Finance

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.

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