As Ethereum-based DeFi institutions have again shown their vulnerability with $25M stolen from dForce protocol, now is the time to look at the progress of the Bitcoin (BTC) decentralized financial ecosystems.
Three new assets, three new opportunities
The Money On Chain team that addresses the sphere of Bitcoin-collateralized decentralized financial protocols proudly announces the RIF On Chain platform designed to let users benefit from all of the features of its native RIF token. The system deployed on the RSK network will consist of three assets interacting with one another.
RIF Dollar (RDOC) is a USD-pegged stablecoin that can be directly purchased with RIF tokens. It allows the user to hedge his/her assets against market volatility. RDOC holders have full control over these tokens as RDOC can be seamlessly transferred and stored in compatible wallets. Also, all purchases in the RIF Marketplace that will be launched in 2020 will be available with RDOC.
RIF PRO (RPRO) is a token designed for passive income as it mirrors the volatility of the RIF token and allows RPRO holders to earn a share of transactional fees collected on the platform.
RIFX is a leveraged token designed for margin trading of RIF-settled contracts. In the case of RIF price movements, users can double their gains or losses. Within the framework of the initial version of the system, contracts will be renewed monthly.
Bitcoin (BTC) to increase DeFi adoption
With these novelties launched, the Money On Chain DeFi protocol team believes that collaboration with the RIF community will upgrade the usage of their technology. According to Max Carjuza, CEO of Money on Chain,
We believe that RIF offers many new infrastructure services through the RSK network, and this will accelerate the adoption of DeFi for Bitcoin.
The Money On Chain protocol team is particularly focused on developing stablecoins that offer the benefits of a decentralized digital asset with the stability of fiat money. The RSK Smart Contract Network and RIF token are developed by IOV Labs. Their solutions are among the most secure on the market because Bitcoin (BTC) hash-power is used to protect the data integrity within it.