This year has seen the rise of numerous DeFi ecosystems. While each of these systems differs in their functionalities, strategies, and overall goals, they all share a desire to remove centralization from the financial sector. DeFi, or decentralized finance, is on the rise, and for a good reason. These systems remove centralization from the financial sector and redistribute the wealth amongst regular users. Consequently, there are now more DeFi options
This influx in DeFi protocols has created a cloud of confusion around the market. It’s hard for new investors to determine what platforms are the best and what options are the most desirable. Luckily, the latter concern has become less important as more full-spectrum DeFi platforms enter the market. These networks include all the most popular DeFi options in the market. One such platform is Rigel Finance.
Rigel Finance — Your One-Stop Shop for DeFi
Rigel Finance services a wide variety of DeFi users with its all-inclusive approach to the market. At its core, Rigel Finance operates as an Automated Market-Making (AMM) Decentralized Exchange (DEX). Like Uniswap, Rigel users can earn a passive income providing liquidity to new projects in the market. Additionally, new projects can quickly seed a pool and start raising their project’s value and notoriety in the industry.
As a complete DeFi ecosystem, Rigel Finance includes all the top features you would expect to see. Specifically, the network integrates deflationary protocols, staking, farming, swaps, and more. It’s this unique multi-layered approach that gives the platform flexibility.
Maximize Your ROI potential
When it comes to earning healthy ROIs in DeFi, it’s all about the platform’s functionality. Rigel Finance offers staking service to all of its users. Staking is very popular in the DeFi sector for a couple of important reasons. Primarily, you don’t need much crypto experience to secure a healthy return when you stake your crypto.
Rigel staking pools allow you to simply lock your crypto up in a smart contract and receive rewards. The longer and more you stake, the higher these rewards will become. Staking is preferred over trading because it allows you to earn a passive income without relinquishing ownership of your assets.
Additionally, staking is much easier than trading your crypto in hopes of profits. The cryptomarket is notoriously volatile. You can see thousand dollar gains and losses in seconds when volatility reaches peak levels. Currently, the market is at all-time highs. The influx of speculative investors increases the chances of runaway sales and other profit shredding scenarios. New users find that staking crypto requires less work, experience and produces more consistent ROIs.
Staking on Rigel Finance
You can stake xRigel on the network and automatically receive rewards based on the weight of your stake. You won’t need to research all the market conditions or trading strategies. You don’t need to understand the technology behind the projects and the key players in the market to earn these profits. In this way, Rigel Finance simplifies investing for users across the board.
Impressively, xRigel stakers also earn a portion of the swaps fees via the platform’s reward pool redistribution model. The OrionNebula Pool is a smart contract designed to collect a percentage of all the network’s fees. These fees are then divided between rewards, burning, and conversion mechanisms.
Reward and Redistribution Pool
Specifically, a portion of the network’s fees gets converted from rewards tokens (xRigel) over to the platform’s primary token, RIGEL. Notably, the exchange occurs on the network’s internal RigelSwap Exchange. Another portion of the fees gets redistributed back into all the liquidity pools based on their contributions.
Redistribution protocols are becoming common in the DeFi sector because they help keep liquidity pools consistently growing. Interestingly, developers utilize a multi-token approach in conjunction with the rewards mechanism to also help control inflation.
In addition to the OrionNebula rewards/conversion protocols, there are major token burns scheduled. Token burns instantly and permanently remove tokens from circulation. Burns are a powerful way for developers to gain more control over their token’s value. Rigel Finance has three anniversary burns scheduled.
The first anniversary will see 50% of the total supply of Rigel burned. The second anniversary will remove 25% of tokens from circulation. This process will continue until the percentage reaches zero. Consequently, this approach provides investors with long term confidence in a growing demand for Rigel.
Staking Rewards to Earn More
Rigel Finance users have the unique opportunity to stake their rewards tokens — xRigel. Rewards token staking is another way that DeFi developers provide more earning opportunities through creativity. As such, more platforms have integrated a double staking feature like Rigel’s xRigel pool.
Start Farming Today
Yield Farming is another popular DeFi strategy that allows new users to earn profits easily. Yield farming and staking have a lot of similarities. Yield farming requires you to lock your crypto in a farming contract. The longer you farm and the more you farm with, the more rewards you receive. Farming differs from staking in that there are very short lockup periods. Additionally, some farming pools allow other users to take out short term loans with interest.
Farming on Rigel Finance
Users can earn Rigel tokens by farming RigelSwap V2 RLP. The platform simplifies the farming process through an intuitive interface that displays all the data you need to maintain and monitor your farming pools. The network offers 18 different farming pools.
Notably, the RIGEL/block in the pair RIGEL-ETH RLP pays the highest rewards at 15%. The other 17 pairs payout 5% of RIGEL/block. Wisely, developers upped the rewards for the first thirteen days of the event. You receive 4x more RIGEL/block than the basic minted RIGEL/block as an early farmer. Keenly, the network’s minting rate is 0.019051633 RIGEL/block.
Rigel Finance — A Robust DeFi Ecosystem
The developers behind Rigel Finance managed to create a robust DeFi ecosystem. You find all the most popular features here and some new protocols that improve earlier platforms’ shortcomings.
Originally published at https://www.cryptofolds.com on January 11, 2021.