Rikkei Finance is planning to build a very safe, solid and convenient protocol that makes lending easy and secure.
Vietnam, May 28, 2021 /AlexaBlockchain/ – Rikkei Finance has raised $5.6 Million to build the first open lending platform with cross-chain support and NFTs collateralization.
Rikkei Finance is a Vietnamese DeFi startup, a team of industry experts who’re building a blockchain lending platform. They are using decentralised technology to innovate on old ideas like money lending, credit, and even insurance. The platform utilizes blockchain tech that enables cross-chain integration, meaning they 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 as well.
Rikkei Finance Investors
Rikkei Finance has received funding from some of the most reputed investors in the blockchain industry, including HyperChain Capital, Kyber Network, Signum Capital, PNYX, X21digital.com, LD Capital, Tomochain, Kernel Ventures, Trade Coin VietNam, Coin98, Kyros Ventures (Coin68), YBB Foundation Limited, Ark Stream Capital and Inclusion Capital.
What’s unique about Rikkei Finance’s lending platform?
Rikkei Finance is planning to build a very safe, solid and convenient protocol that makes lending easy and secure. One disadvantage of the current interest rate model is it makes borrowing more cost prohibitive in periods of low utilization rate. RiFi’s multi-kinked interest rate model makes the lending platform robust and sustainable.
The protocol lowers the interest rate to increase borrowing incentives and to encourage more people to step forward providing digital assets to lending, the platform rewards suppliers with RiFi tokens.
The protocol also ensures system sustainability through its 5-phase asset selection process, which employs a self-developed liquidity ranking system. Assets will be evaluated and ranked based on multiple liquidity metrics, then be further analyzed and entered into the voting section before being officially added into the pool.
The team envisions doing great things adapting to blockchain tech. Rifi.Lending will have more cross-chain compatibility and the Rikkei Finance team is working towards changing the world of digital assets.