Rai Finance aims to become a Web 3.0-enabled financial hub by introducing new products and expanding accessibility.
How does the RAI Finance dapp work?
RAI Finance is creating a new decentralized finance (DeFi) service that realizes dynamic synergy between blockchain asset creation, cross-chain trading and social investment functions through collaboration with cross-chain projects.
Rai Finance allows users to communicate with DeFi through a wide range of Web 3.0 products:
| STS | The social trading system combines public profiles with investment products. |
| IDO | Access to proven projects at an early stage through Initial DeFi Offering. |
| DEX | Trade multi-chain assets quickly and decentralized. |
SOFI, the native token for RAI Finance, is an essential component of the protocol and serves many functions in the ecosystem.
RAI Swap and DEX will provide an informative and intuitive user interface for both professional traders and general users. Decentralized exchanges often try to narrow spreads and expand their market depth. Interaction between RAI Swap and DEX will solve common DEX problems.
How to use:
- Go to the DEX tab in the sidebar.
- Select the asset you want to trade on the right side of the screen. You can also search for other assets by name or symbol.
- Approve the use of USDT on the platform.
- Enter the number of tokens you want to exchange in the "Amount" column and click the "Buy" button.
- Click on the "Confirm exchange" button. Check the gas fee and confirm the transaction.
- After sending the transaction on the right, a success message soon appears and the exchange is completed.
The STS price alert tool allows users to receive price change notifications via Discord. Users can set up a price range that will trigger a price alert and a Discord account to receive the message.
Other work details
RAI Finance has announced a partnership with Litentry, a decentralized identity project, to provide a better user experience for Polkadot-powered cross-chain trading products. RAI Finance launched The Graph Node, a decentralized search and query protocol. Also, RAI Finance has entered into a collaboration agreement with the Meter, a layer 2 network solution, to jointly expand the volume of assets for cross-chain transactions and improve cross-chain asset interoperability.
RAI Finance has launched a global public test campaign. Over 6,000 users have used the Social Trading System (STS) and created over 4,000 portfolios. The first-time release of the aggregator feature in the test network products also garnered nearly 1,000 users.