Rikki Finance ($RIFI) is the ultimate loan solution that is scalable and user-friendly. Rikki Finance is an all-inclusive financial platform that boasts of high performance and efficiency. RiFi improves the DeFi lending ecosystem through its sustainability, interoperability, diversity, community-centred approach, and its native system.
The solid vision of the RiFi team from the early stages is to build a lending protocol that prioritizes stability. It is true that recently there have been several attacks on BSCs of various sizes targeting different DeFi protocols. They exploit several vulnerabilities of the protocol, which typically include (1) bugs in the source code, (2) token price manipulation, and (3) substandard risk management control models. Ricci Finance implements multiple methods to make lending easy and secure at all stages.
Ricci Finance employs a multi-kinked interest rate model instead of the traditional linear interest rate model. The strength of the multi-kinked model is that it can handle high utilization rate (UT) stress points. At that point, the demand for lending increases significantly, and all users borrow maximally. As a result, if there is a significant price correction in the market, it will create a massive liquidation effect, directly reducing the liquidity of the protocol and making the system unstable. RiFi’s vision at this time is to significantly increase the interest lending rate to reduce risk and limit lending.
Ricci Finance ensures system stability through a transparent 5-stage asset selection process, which includes: (1) data crawling, (2) filtering, (3) liquidity measurement and ranking, (4) analysis and asset selection, and (5) property addition.
Asset data is collected daily through data crawling. Assets are valued in terms of their ability to meet minimum criteria in terms of market capitalization, volume, proportion of total supply operating and other factors. The assets are filtered in step 3 for liquidity measurement and ranking. The top-ranking assets will be further analyzed and entered in the voting section before they are officially added to the pool.
The core value of the asset selection process is that assets will be evaluated using a self-developed liquidity ranking system, ensuring that only the most liquid assets are allocated to the pool, reducing the risk of market manipulation does.
RiFi implements a high-standard risk management model, which involves rigorous monitoring of collateral factors; setting the limit of one-time withdrawal; Freezing supply/borrowing when an attack occurs, and employing complex price prediction.
Experienced parties will audit RiFi’s source code. Soon there will also be a bug bounty program with an extremely high price.
The founders of Rikki Finance put a laser-like focus on developing one core product – the lending system, rather than a vast ecosystem without any high quality products. Therefore, RiFi is designed for easy integration into various systems, ranging from financial management platforms such as cold wallets or Gnosis Safe to NFTs marketplace systems and even insurance protocols.
Rikki Finance will continue to grow and lead the way in supporting a variety of collateral, BSC assets, multi-chain assets, token-based collateral, and in particular NFT and LP tokens.
In the context of NFTs, Rikki Finance will partner with other top-tier NFT marketplaces for peer-to-peer NFT lending, allowing RiFi to leverage the existing user base without making efforts to educate customers. This peer-to-peer NFT lending system also eliminates the risks associated with the protocol, especially since a group of users can easily manipulate the price of NFTs.
RiFi is a secure system that will be user-centric, enabling users to get maximum returns when they participate in our protocol.
RiFi’s multi-kinked interest rate model makes it less cost-prohibitive in periods of low utilization rate by lowering the interest rate to increase borrowing demand, while maintaining the liquidity that provides incentives with token rewards.
Additionally, Rikki Finance will collaborate closely with Insurance Protocol to provide first-time liquidation coverage to our users, protecting our users from smart contract hacks and asset liquidations.
strong core team
Rikkei Finance’s solid core team is the secret behind its ability to function. The team is backed by Rikkisoft, one of Vietnam’s most prestigious IT companies. With a pool of 1300+ talents, Riccisoft provides financial support, workforce and legal support. Ricci Finance has also received investments from notable long-term investors, including Sygnum Capital – the project’s lead investor, Hyperchain Capital, Kyber Network, PNYX Ventures, X21 Digital, Tomochain, LD Capital, Kernel Ventures, Kairos Ventures, Coin98 Ventures Huh. YBB Foundation Ltd., Arc Stream Capital, Inclusion Capital and Basics Capital. Ricci Finance is guaranteed to take scalability and DeFi lending adoption to a whole new level.