Bitcoin enlarges operations with RIF stablecoin and token

Bob Coiney

April 23, 2020

The decentralized finance prospects are growing by the day. A renowned organization Money on Chain which had set up bitcoin-supported Defi covenants has announced that it is planning to launch three new products in the Defi landscape. These three products are 

  1. Stablecoin
  2. An asset through which the holders will be able to take advantage of price movements of RIF
  3. RPRO which mimics the RIF price wherein the holders will be rewarded a part of the platform fees.

RDOC which is a dollar supported stablecoin is considered by Money On Chain as a dependable way of transferring assets without the need for fiat backing. Users will be able to purchase RDOC with the brand new RIF on-chain decentralized platform using these RIF tokens. There also is a provision of wallets in which RDOC can be stored and can be further used to buy different products in the about to be launched RIF marketplace app.

RIFX, as it is known, will encourage the holders to suppositionally double their gains when RIF price goes up. The contracts in the positions will be refreshed every 30 seconds. The platform will also have another asset called RIFpro that will also replicate the RIF token price and will let the holders earn income.

The Defi ecosystem is ever-growing and the launch of several new products will keep the growth ticker running. As of now a great proportion of the Defi applications are built on the Bitcoin platform and are initiated from RSK technology. The best of Defi technologies including Money On Chain are depending on RIF token and function easily on the RBTC blockchain in order to present their products in a better manner. Etherium which was hitherto the industry followed platform now has interesting alternatives in the form of RSK and Liquid. 

There are other companies also like Atomic Loans that are looking forward to building their own defi platform. They are looking at generating a product idea that will directly operate on the Bitcoin blockchain sans any convoluted synthetics rampant on other blockchains. 

Image Source – NBC News