[Ask RiFi Anything] : Addressing Pressing Concerns Once and For All
After a few months of running the protocol with the unconditional support of our inspiring community, we have been receiving numerous feedbacks and concerns regarding how we run the project. To avoid unnecessary FUDs and spams causing healthy discourses to be overlooked, we have created a Google Form where our followers submit their questions and are assured to have them all thoroughly answered.
This FAQ session is our team’s effort to resolve all unaddressed insecurities from our current users and thereby, reach out to new markets and new faces with a clean slate.
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Question 1: What happened to the price of $RIFI? What are the team’s efforts to improve it for investors’ benefit?
Both the growth and the decline of $RIFI reflect the volatility of the market. We acknowledge and sincerely empathize with your anxiety for these past few months.
For the sake of our investors, as a lending protocol that focuses on our user’s safety and benefits, we are working day and night to increase our platform’s utility and profitability, so that the token can grow in a sustainable manner without being too vulnerable to the market’s ups-and-downs.
Question 2: There has not been much communication between the core team and the community, why is that?
We truly apologize for this disconnection. After running the project for some time, we have recognized that the bond between the core team and the project’s investors is crucial for us to run our community as a safe place built on mutual trust.
In order to improve this situation, we have built a new social communication team with native speakers from a background in Economics who are thoroughly trained to understand Rikkei Finance at its core. This team, alongside our project managers, will represent our core team in timely addressing and resolving all of your concerns regarding our activities and new features.
Question 3: Why are you not doing AMAs? What are your marketing plans for Rikkei Finance?
Collected data has shown that our AMA efforts up until now have not met our expectations in terms of performance. To ensure that our investments are not being wasted in vain efforts, we are revising our materials, resources, message, and how we convey them, to optimize our future AMA output.
Alongside this ongoing plan, our marketing team is focusing on:
- Setting RiFi apart from its competitors, delivering a concrete message that represents the protocol as a whole.
- Expanding Rikkei Finance’s social outreach while making sure the ones who have been with us from the start are having the most satisfying experience.
Question 4: What’s the use of borrowing if you still need to deposit?
Being a decentralized lending protocol that is operated online, Rikkei Finance was built by senior experts upon the foundation of collateralized lending to ensure safety and mitigate all possible risks for our stakeholders.
In detail, here is how this system helps maximizes your benefit as a lender:
- You want to hold a token (BTC, BNB ETH,…) but still want to have some stable coins left to invest in other projects. In this case, you can deposit BTC and BNB (ETH will be supported very soon) to our protocol and borrow the stable coins of your need.
- You believe the price of a token (BTC, BNB, ETH,…) will significantly drop and want to sell it short (sell a token you do not own at the time, in the hope of buying it at a lower price before delivery time). In this case, you can deposit a stable coin and borrow it, then sell it on a dex like pancakeswap. If the price of the token actually goes down, you can easily buy it “for cheap”, repay your borrowed amount, and still have some extras in your wallet.
Question 5: What are your future plans?
We are working side-by-side with multiple networks and crypto projects for potential partnerships that will expand our use case and utility as we build towards the roadmap.
In addition to elevating our relationship with current users, we are also discussing promotion with Telegram, Youtube, and Twitter KOLs from all over the world to get our new message across to investors who we know would benefit from our model.
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And there we have it — every single pressing concern Rikkei Finance’s community has regarding its operation answered.
We hope our responses were deserving of your wait and have somewhat strengthened your trust in our platform. We will continue to work on our intercommunication and make sure from now on, no room for insecurities is left within Rikkei Finance’s community.