Home | Crypto News | RIF On Chain: A Different Stablecoin

RIF On Chain: A Different Stablecoin

Table of Contents

digital trading illustration

The decentralized finance (DeFi) market continues to expand with new products. RIF On Chain, the DeFi platform that has been developed on top of the RSK blockchain network, has been released to the market. 

ROC is expected to allow users to enjoy a new level of DeFi products on top of RSK, the smart contract platform on top of Bitcoin. Bitcoin (BTC) holders are already able to enjoy a wide range of solutions released by MOC. This shows the company continues to improve its services and become a clear leader in the cryptocurrency and DeFi markets. 

Expanding DeFi to the RIF Ecosystem

MOC is now creating a new decentralized finance ecosystem that is backed by RIF tokens using the RSK blockchain network. This would allow RIF token holders and its community to have access to a large number of possibilities through this platform and the RIF token economy. 

The new RIF on Chain DeFi platform will work with three main products, including the RIF Dollar (RDOC), the RIFpro (RIFP) token, and the RIFX leverage trading asset. These are going to be the assets that will be interacting on this network at launch. In the future, new solutions could be implemented according to the demand from users. 

Overview of the RIF On Chain DeFi Platform

It is worth pointing out that users will need to ensure they have access to their RIF tokens using a compatible wallet such as Nifty or Metamask. There are several exchanges that allow users to acquire RIF tokens. Some of them include KuCoin, Coinbene, Bitfinex and Bithumb, among others. 

Once the user is able to acquire these funds, he will then be able to start using the RDOC stablecoin, the RIFpro or the RIFX product. In the next sections, we will share with you which are the main characteristics of these solutions provided by MOC and how they could help the DeFi market to reach new users and grow. 

RDOC Stablecoin

The RDOC stablecoin stands for the RIF Dollar stablecoin and it would be used as a crypto-collateralized stablecoin. However, it will also be using RIF tokens as collateral. The RDOC stablecoin will be minted when there is a certain amount of RIFpro (RIFP) staked in the platform. 

That means that as soon as the minimum RIFP staking threshold is reached, there will be an automatic minting of RDOC coins that can be used by users to buy products on the RIF Marketplace. 

It is worth pointing out that the RDOC stablecoin will transfer their volatility to the RIFP tokens and a percentage of the fees that are paid by users when they acquire the stablecoin. 

RIF token holders are also going to be generating a passive income from the fees that are generated by users on the platform. This can be used in order to take advantage if a user has an open long-staked position. However, there are also risks involved related to price volatility. 

Then we understand the RIFX as a leveraged product that allows users to speculate with the price of the RIF token. The leverage multiplier is currently 2X at the beginning of each of the contracts and it can change during the 30-day lifespan. This is expected to be defined by several variables, including RIF price movements and RDOC stablecoins issued. 

This is one of the most important products of the platform and it will be used by users to generate a benefit from fees paid by RDOC purchases and the interest rate that is paid by RIFX traders on their positions. Users will have the possibility to sell the RDOC stablecoin after the contract expires every 30 days. In this way, they will receive RIF tokens back. 

Diego Gutierrez Zaldivar, the CEO of IOV Labs, commented about it:

“It’s thrilling to experience how quickly the DeFi ecosystem has been growing, launching more products and achieving broader adoption. We are excited that top DeFi technologies such as Money on Chain are choosing the RIF token and the RBTC blockchain to evolve and position their products in this high growth competitive environment.”

Conclusion

A new DeFi market with stablecoins and a wide range of tokens on top of Bitcoin’s network is being created. This is expected to generate a new financial system with instant and cost-efficient transactions. Moreover, the new ecosystem is going to be expanding the DeFi ecosystem, reaching new users and generating new opportunities in the cryptocurrency industry. 

Table of Contents

EDITOR’S CHOICE

Hot Stories

🔑🔓⚡

Unlock the Power of Crypto!

Get the most important crypto news, price predictions, and expert insights delivered to your inbox.