RIF hodlers have now the opportunity to earn a passive income; so, if you are a RIF hodler, this article explains why RIFPro (RIFP) tokens are attractive for you in the long term.
RIF (RSK Infrastructure Framework) covers a set of services and protocols including digital identities, storage, communication, micro-payments, oracles, etc., that aims to create the building blocks for a Decentralized Sharing Economy empowering individuals. Within this ecosystem one of the key components is Rif on Chain (ROC), the first RIF DeFi Platform built and deployed by Money on Chain (MOC) on top of the RSK blockchain network.
RIF on Chain consist of three main assets that interact with each other, and which have been developed to serve different purposes depending on the needs of the user:
The figure shown below represents the entire economic circuit of the ROC DeFi platform:
RIFP allows RIF hodlers to generate a passive income, mainly from fees generated by users interacting with the platform.
RIFP tokens will also be exposed to a small part of the volatility (translated into “leverage”) absorbed from the stablecoins.
As RIFP tokens are staked allowing the issuance of RDOC stablecoins, they absorb the volatility of RDOC generating a small leverage which means that if RIF increases its price, RIFP goes up a little bit more and if RIF price goes down, RIFP goes down a little bit more.
50% of the fees paid in the ROC protocol by users interacting with the platform goes to RIFP token holders, increasing the RIFP token value in the long run.
The protocol allows the RIFP tokens “to sell” the leverage inherited from the RDOC stablecoin to RIFX. RIFX users will pay an interest rate for trading the RIFX leverage asset and the ROC system will distribute that interest among the RIFP tokens (the interest will appreciate the price of the RIFP).
It is hard to estimate the RIFP future performance given that it has several sources of income and it depends on the level of leverage together with the RIF Price performance. However, as shown below, we share a chart that reflects the performance of RIFP against RIF since its released on April 2020 :
The first step is to acquire RIF tokens and send them to a wallet like Metamask or Nifty (Be sure to have configured the chosen wallet to interact with the RSK network. Here you have an explanation on how to connect to Metamask or Nifty wallets). RIF tokens can be acquired on centralized exchanges such as Bitfinex, Kucoin, Bithumb or through decentralized solutions like the RSKswap.
Once you are a RIF holder, there are several ways to get RIFP:
The main one is through the ROC Platform. There you can mint/redeem RIFP tokens easily and with a user friendly interface.
Another way to get RIFP is with RSKSwap App, where you can swap any token for RIFP and once you hold RIFP you can provide liquidity to a pool either joining or creating one, this will give you an extra 0.3% for every swap in the pool according to your share in it.
Last but not least, is using Defiant, a non-custodial wallet that lets you mint/redeem ROC and MOC tokens and swap them through RSKSwap.
Enjoying the benefits of the DeFi ecosystem for Bitcoin has never been easier. If you want to read more take a look at this article.