The Master Ventures FUEL team is set to add another high potential project to its incubator: Relite Finance! And we’re even more thrilled to announce that Relite Finance will be launching on our Ignition platform.
Relite Finance is a cross-chain lending platform, powered by Polkadot, that will enable users to lend and borrow with their native cryptos in one protocol.
Relite Finance wants to enable financial inclusivity by making lending and borrowing accessible to all. It’ll do so with its multi-chain protocol that allows for seamless transactions across multiple blockchains.
Token name: RELI
Hard Cap: $1.5M
Private Sale: $1M @ $0.035
Public Sale: 0.5M @ $0.045
Relite Finance solves the problems outlined below:
The blockchain landscape is highly fragmented and it’s difficult to transact value across many protocols. For mass adoption to truly take place, the industry needs to foster an open, easy-to-use, and interoperable financial system.
Relite answers that call by creating a multi-chain, interoperable future enabling users to transact from one blockchain to another with ease.
The ascension of DeFi has brought along with it unaffordable gas fees, directly contrasting one of DeFi core principles: financial access.
Moreso, as blockchain becomes more entwined with our lives, gas fees will keep rising.
But fees aren’t the only barrier to entry, it’s the high-level of collateralization users have to provide to leverage all of DeFi’s capabilities. Again, contradicting DeFi’s goal of an open and accessible system. As of today, average collateralization is 180%. This is not sustainable.
Relite addresses these issues by:
- De-Risking the Protocol: With a one-of-a-kind Reserve Fund that serves as a safety net during a shortfall — while providing better collateralization ratios to users.
- Adding Security: The more assets staked on the protocol, the more secure it is.
- Offering a Variety of Pools: Both, non-fixed APY and fixed-term APY pools.
- Polkadot: By using the high throughput, and low transaction fees, of the Polkadot chain, we enable financial access for all.
- Supporting a variety of assets: DOT, ERC20 and even NFT collateral.
DeFi is notorious for being complicated. Sprinkle DeFi loans into the mix and you have a recipe for lost users and a UX/UI minefield. Relite believes that loans, no matter the system, should be straight-forward, accessible, and affordable.
Relite developed a truly accessible interface where users, novice or otherwise, are guided through the process and receive smart notifications based on their behavior.
Relite’s emphasis on UX/UI enables users to easily deposit assets, supply liquidity, provide collaterals, and truly unlock the next level of finance.
Relite Finance: Token Utility
One of the most interesting parts of Relite Finance is its tokenomics, the RELI token has three main functions:
- Governance: The RELI token enables users to vote for key changes in the protocol such as feature implementations, protocol fees, and future integrations.
- Rewards: Users are rewarded for participating in the RELI ecosystem by lending or borrowing. Users will receive special RELI government tokens daily.
- Staking — Holders can stake RELI in the protocol’s Reserve Fund to earn additional rewards. RELI tokens will be used to add security to the platform. Users who stake their holdings receive payouts from loan margins earned in proportion to their stake.
Relite Finance will be available on Ignition soon!
We are excited to see the Relite Finance IDO be listed on PAID’s Ignition platform soon, giving PAID token holders the opportunity to get in on this very exciting and groundbreaking project backed by Master Ventures.
About Relite Finance
Relite Finance is a decentralized, cross-chain lending protocol built on Polkadot that redefines crypto money markets.
About PAID Network
PAID Network seeks to redefine the current business contract, litigation, and settlement processes by providing a simple, attorney-free, and cost-friendly DApp for users and businesses to ensure they #GetPAID wherever they are in the world.
PAID technology leverages Plasm to operate on both Ethereum and Polkadot ecosystems. PAID makes businesses exponentially more efficient by building SMART Agreements through smart contracts to execute DeFi transactions and business agreements seamlessly.
PAID streamlines backend legal operations with SMART Agreements so that projects can focus on making their brand bigger and better.
IGNITION is a featured product of PAID Network, operating as a decentralized swapping protocol that allows blockchain-based token projects to offer their private and public auctions. Leveraging both PAID Network and Polkadot technology, Ignition is different from other auction platforms in that it properly vets and selects only top-tier, cutting-edge projects. Its strategically crafted incentivization mechanism for participants of published projects will encourage HODLing and support both the project founders and the community. It isn’t just a trading platform; it FUELs projects and takes fundraising to the next level.
Ignition brings quality projects, fixed swaps, and equitable lottery participation to everyone.
FUEL Incubation is a joint venture between Master Ventures and PAID. It is an incubation program that brings together Master Ventures’ combined 30+ years of blockchain and cryptocurrency experience and network of investors and advisors with PAID’s strategic marketing resources and its IDO sales platform, Ignition.
FUEL will supercharge Ignition projects by opening market access, building a project community, raising funds, and building an investor and influencer network, as well as assisting in the construction of token economic models. From the same team that grew Elrond and Ultra, every new project incubated by FUEL will have the resources it needs to perform exceptionally.
FUEL lays the groundwork for a project’s successful moon mission.
About Master Ventures
Master Ventures is a blockchain-focused venture studio helping to build the next generation of blockchain-based Web 3.0 system innovations within the crypto industry. Launched in 2018 by Founder and CEO Kyle Chassé, the company’s ethos can best be summarized in the acronym #BeBOLD: Benevolent, Open, Love, Decentralized.
Master Ventures co-creates with entrepreneurs and businesses worldwide to turn the best ideas into innovative and disruptive products. They do this by investing as strategic partners through offering advisory services to the projects they believe in. To date, Master Ventures has invested in over 40 crypto projects, including the likes of Kraken, Coinbase, Bitfinex, Reef, DAO Maker, Mantra DAO, Thorchain, and Elrond.
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