RioDeFi Weekly Newsletter #8
Tags: Liquidity Pool, Partnerships, Crypto Wallet, Blockchain Newsletter, Blockchain Development

Watch our video newsletter #8 here

Hi everyone and welcome to our weekly video newsletter. I am James Anderson, the CEO of RioDeFi. For those who are new to this channel, RioDeFi is is a blockchain technology company, whose mission is to accelerate the mass adoption of digital assets, by bridging the gap between traditional and decentralised finance. We do this weekly video newsletter to keep our community up to date with the latest news and technical progress in our ecosystem as well as new partnerships and Dapps we have added

Video interview between RioDeFi and aleph.im

Last week we recorded a video interview with the CEO of aleph.im, Jonathan Schemoul to give our community a better understanding of what this partnership is all about. This is to complement the announcement we did 2 weeks ago about an integration of their decentralised data storage to RioChain.

This video will be especially interesting for developers who are exploring the idea of hosting their Dapp on our blockchain as well as entrepreneurs looking to understand better how blockchain works and how we build up RioDeFi’s ecosystem through collaborative work with external parties. It was also nice to get to know Jonathan’s background. He’s been coding since the age of 8 years old. We also shared our vision on what will be the next trends in the blockchain industry over the course of 2021. This video is available on our youtube channel at https://youtu.be/d-QYGEB1KBc so go and watch it when you have time.

Ecosystem’s expansion

Last Wednesday we also announced that our ecosystem was growing with the coming of a new Dapp called Lepricon. This Dapp was incubated with the support of RioDeFi to integrate on RioChain. Lepricon is a gamified DeFi platform with liquidity pools and prediction markets. Just like MantraDAO, Lepricon chose RioChain for the functionalities it provides, including fast transactions speed, interoperability, scalability with low gas fees.

Lepricon provides prediction games and together with them we will bring gaming to decentralised finance opening up new horizons for our community. Users will soon be able to play, bet and stake to earn rewards and various tokens, including L3P (Lepricon’s native token). You could also earn NFTs and collectibles. We are pretty excited by this project: they will have their games developed by the end of Q1 2021, upon the platform launch. Lepricon’s objective is to open up the platform not just for their in-house games but also to other games developers and bring a suite of high quality games to their community.

Lepricon operates as a Decentralised Autonomous Organisation (DAO), meaning it will extend voting rights to its token holders under certain rules to involve them in decisions making such as the selection of new games or the distribution of rewards mechanisms. If you have a deep interest in DeFi and online games, you should start following them on Twitter or on their Telegram channel.

RioDeFi’s participation to industry events

Last Saturday, I also spoke at a webinar organised by DeFi Bytes, an active community of blockchain lovers based in Bangalore, India. Their Meet-up group has more than 25,000 followers and we really like their approach of organising events to help educate their members on the impact of blockchain as a technology beyond just Bitcoin. This online event focused on decentralised finance. I shared the virtual stage together with the CEOs of StaFi Protocol, Persistence, and Knit Finance as well as the COO of Open DeFi. I gave a brief introduction about RioDeFi and explained the differences between tokens, digital assets and blockchain’s coins, as well as their uses. Liam Young from Stafi Protocol talked about the role of governance in DeFi and presented his platform, a DeFi protocol for derivatives trading. This platform is also based in the Polkadot’s ecosystem, it’s a Substrate based blockchain. The event kept going with a panel discussion on why Venture Capitalists are betting big on DeFi.

India is a key market for us. We’ve seen a growing interest in crypto and staking activities since the Supreme Court has lifted the ban on cryptocurrencies last March. We can’t wait to have our RioWallet and RioFinance programs launched through our partnership with Vault which is a savings and lending platform as well as a fiat on and off ramp using indian rupees. The integration will be finalised in the upcoming months and would help people to have access to stablecoin loans based on the use of bitcoins or other cryptocurrencies as collaterals. Vault is well established and has strong links with national banks there so we hope this can be l;aunched very soon.

Where to find RioDeFi on Uniswap

Another update in RioDeFi’s ecosystem is that our logo is now appearing on Uniswap. RFUEL can be found there and here is a link so you can directly access and trade on the platform: https://bit.ly/2WxbQ8r

New RioDeFi farming pool available on KingSwap

This week we also announced a new partnership with KingSwap, a new DEX that is providing yield farming opportunities for people who stake tokens, including now RFUEL and USDT. If you stake liquidity using RFUEL/USDT pairs, you can get access to the KingSwap’s liquidity pool token, KST and you are also incentivized if you trade on the platform with the KingSwap slippage token. With this, you can earn a percentage of the fees on the KingSwap’s platform which is 0.25% which goes on your Metamask or other cryptocurrency wallets in a decentralised manner.

Kingswap is also providing access to fiat on and off ramp which is coming soon with the introduction of their debit card program. This will give the ability to people to cash out from their KingSwap’s earnings. RioDefi is offering 50% APY via its farming pool on Kingswap to people willing to provide liquidity.

RioDeFi’s Generic Asset Bridge is getting ready

Another technical progress is that the Rio Generic Asset Bridge is on an ongoing final testing so the admin back panel is working well, our APIs between Hex Trust system and RioChain’s mainet soon will have the ability to swap between ERC-20 version of RFUEL and the RST-88 version of our RFUEL on the RioChain’s mainnet. Users will be able to move those tokens back and forth before the end of this year. This is a key milestone for us. Following that, in the next few weeks, we will have Ethereum, bitcoin and other assets being able to move between their native blockchain and rioChain’s mainnet. This comes alongside our new UI for the RioWallet. We will release images in the coming weeks and we plan to have it completed by the end of January. With this, we will move from the BETA version of RioWallet to a more long term V1 version, which we hope would have additional features coming very shortly including the OATH solutions (e.g people being able to use their gmail, facebook or other social media logins to be able to create a wallet). This will enable even more people to access cryptocurrencies, not having to worry about private keys. Additionally we will have our integration with Moonpay into the web version and shortly after we will be launching the mobile versions, which will be on both on iOS and Android.

We thank you so much for following up our progress since the beginning. We saw bitcoin up above USD 23,000 last Thursday and we are quite excited by the progress of all crypto currencies. We see a bull run raising with many institutional investors putting big money in this space. We think RioDeFi will capitalise on this trend in 2021 with our link between CEFI and DEFI.

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