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Since its launch in 2021, the novel DeFi ecosystem Reimagined Finance (REFI) has been improving the user experience of yield farming and making it more profitable, even for “degens” with basic crypto skills.
Reimagined Finance (REFI) explodes in the DeFi segment: what is FaaS?
Reimagined Finance is an on-chain protocol that generates income from its treasury via various smart contract platforms. Profits are redistributed between “farmers” in Ether, which is a core native utility asset of Reimagined Finance.
Image by Reimagined Finance
What’s unique about Reimagined Finance’s 2022 “yield farmer” offering?
- One product, many chains: Reimagined Finance offers “farming” on Ethereum, Binance Smart Chain with other EVM-compatible and non-EVM platforms;
- Out-of-the-box yield farming solution: To start farming, crypto owners need nothing but Reimagined Finance’s easy-to-use dashboard;
- Different strategies of risk management: Treasury is rebalanced between low, medium and high risk farming strategies;
- The native token REFI is available on Binance (BNB), a world-leading crypto ecosystem, and on Uniswap (UNI), the largest Ethereum-based decentralized cryptocurrency exchange;
- Full on-chain structure: Reimagined Finance smart contract addresses are public and traceable.
For the maximum comfort of its customers, Reimagined Finance (REFI) releases light and dark modes of its user interface.
What is DeFi?
Despite being invented in 2017-2018 with the founding of Etherdelta, IDEX, and Kyber Network, decentralized finance protocols, commonly referred to as DeFi, transitioned into the mainstream in 2020. DeFi is a class of software programs designed to perform basic financial operations (deposits, lending/borrowing, asset minting, tokenization of property rights, etc.). What is special about DeFi is that all operations of these protocols are performed entirely on-chain without a centralized server or money storage.
DeFi protocols work with smart contracts without the need for intermediaries to interact with them. This approach enabled the creation of sophisticated financial ecosystems.
Decentralized crypto exchanges Uniswap (on Ethereum), PancakeSwap (on Binance Smart Chain) and SushiSwap (on all blockchains compatible with Ethereum Virtual Machine), as well as lending protocols Maker, Compound and Aave Finance and asset mining platform Synthetix are the most popular ecosystems from the ongoing DeFi euphoria.
What is yield farming?
The concept of “yield farming” is unlike anything in the world of traditional finance. Since DeFi protocols do not rely on their own money to operate, they must receive it from crypto holders. These donors are called “Liquidity Providers” or LPs as they inject liquidity into the DeFi mechanisms.
To stimulate this process, DeFi protocols distribute the share of their earnings to liquidity providers in the form of “return”, i.e. periodic payouts proportional to the amount of cryptos “locked” by this or that liquidity provider.
This process is known as “yield farming” as LPs can simply “farm” revenue from their unused crypto pockets. “Farmers” only need to develop an appropriate strategy to rebalance liquidity between the most profitable pools managed by different protocols – and even on different blockchains.
Reimagined Finance (REFI) introduces DeFi 3.0
Reimagined Finance (REFI) aims to address all major bottlenecks of the DeFi segment. It attempts to introduce ready-made “yield farming” solutions to lower an “barrier to entry” for crypto newbies.
Tool
With Reimagined Finance (REFI), users can simply lock their assets in favor of the protocol: it will do all the heavy lifting to rebalance it for maximum returns. At Reimagined Finance, crypto holders inject liquidity in a 100% novel way i.e. by buying REFI tokens.
Once REFI tokens are purchased, ethers are transferred to the protocol treasury. The protocol then uses these funds to farm yields across different chains in a peer-to-peer fashion. Payouts can be redistributed between farmers in either ethers or REFI tokens.
To receive payouts, users should buy at least 10,000 REFI or about $543 on Uniswap or 1 REFI on Binance (BNB).
strategies
On Reimagined Finance, users no longer have to choose between different risk management strategies. The protocol automatically balances the treasury between three “buckets” with different levels of implied risk.
Image by Reimagined Finance
The low-risk bucket includes pools with <5% volatility, medium-risk pools operate between 5-40% volatility, while high-risk pools experience volatility in excess of 40%.
Important key figures and statistics
In early February 2022, the protocol collected 950 Ether from more than 3,000 holders. A total of 1,420 ethers were distributed among liquidity providers; from this sum they deducted 1,138 ethers.
Estimated farm growth APY is nearly 1,587%, which is far more impressive than that of its major competitors.
The REFI supply is capped at 1 billion tokens; To prevent it from being dominated by whales, the team set a limit of 2% on each individual wallet. Overall, REFI holders’ businesses will be subject to a 12% tax, which is required to fuel the progress of the redesigned financial protocol.
team
The Reimagined Finance team is led by Muhammad Mustadi, an Indonesian blockchain veteran and white hat hacker known in the community as Mathrdro.id.
Mr. Huf (@hufhaus9) is the coordinator of liquidity farming strategies for the Reimagined Finance (REFI) Treasury. The team also has some high profile advisors and investors on board to ensure Reimagined Finance’s recognition within the global Web3 community.
timetable
Through Q1 2022, the protocol has released a two-phase roadmap; All missions of the first phase have already been completed. Reimagined Finance (REFI) has almost managed to grow a farm to 1,000 Ethers and forged a number of partnerships with Decentralized Autonomous Organizations (DAOs) and venture capitalists.
Image by Reimagined Finance
In the next phase of its progress, Reimagined Finance (REFI) will expand into new blockchains to reaffirm its focus on building multi-chain farming aggregators. Also, the security design is evolving across different blockchain platforms to ensure 100 percent security of all invested funds.
bottom line
Reimagined Finance (REFI) is dedicated to creating a one-stop dashboard for newbies and crypto professionals interested in multi-blockchain yield farming. With a few clicks, its users can inject liquidity into Reimagined Finance’s treasury; An automated algorithm will rebalance it between three buckets with different levels of risk management.
Reimagined Finance (REFI) has already increased its treasury to almost 1,000 Ether with more than 1,500% in estimated APY for 3,000 investors. In 2022, the protocol will strengthen its position in the multi-chain segment by integrating a number of new chains and giving its security design a significant facelift.
As the diversity of DeFi protocols across multiple blockchains grows by the day, a go-to endpoint of this segment will be of paramount importance to the Web3 segment as a whole.
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