Rai Finance is a decentralized cross-chain exchange that is set to provide the DeFi sector with a diverse range of assets, higher liquidity, and a wider financial use case.
The massive growth DeFi has seen this year has drawn loads of plaudits and attention to it. The industry grew from having a total value locked (TVL) of $1 billion in June to having over $10 billion in its TVL, as of November. The sector's major challenges have been that liquidity, scalability, and the paucity of choice when it comes to available assets.
Rai Finance solves all of these problems with the introduction of its layer 2 scalability. This means the Rai helps to the swap protocol and the automated market improve at the same time. All of these were hitherto impossible, but with Rai's native token, RAI, the DEX is set out to help DeFi improve its scalability while offering an increase in the numbers of digital assets that are open to the industry.
RAI would be combined with the cross-chain compatibility of the Polkadot ecosystem. It is this feature that enables decentralized financing with access to new assets while also giving room for more liquidity.
Rai Finance would be solving the following challenges that the DEX ecosystem faces:
High network fees
The network fees charged on Ethereum has increased exponentially in recent while. The high fees have led to the pricing out of the small scale retail investors.
This high transaction fee would need to be solved if DeFi is going to gain a wider acceptance from the general public.
Lack of diversity in asset types
When it comes to asset types supported by DEX, the option is restricted to ERC20 tokens and single-chain transactions are the main supported option especially when it comes to Ethereum-based DEXs.
This lack of freedom in choosing a variety of asset types outs is one limitation facing the DeFi world.
Rai finance protocol would be designed to support a wider range of assets, while providing more liquidity, and more financial uses for the DeFi system.
The design of the protocol is set in such a way that it would be breaking whatever limitations that might be holding DeFi back.
The architecture of Rai Finance is structured in a way where it provides layering for secure off-chain transactions with its on-chain settlements. This would enable complex computations and more efficient transactions without losing the security and decentralization of blockchain
The complexity and speed of this architecture would lead to more opportunities that were exclusive to centralized exchanges.
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