Guide to Rif On Chain

Web App FAQ

What is RDoC?

The RIF Dollar on Chain, a stablecoin collateralized in RIF and pegged 1:1 to the US dollar.

How is the peg to the US dollar guaranteed?

The peg is guaranteed by the smart contract, the rules and incentives are aligned so RDoC tokens can always be redeemed for the same amount of dollars in RIF.

How much does it cost to mint or redeem a RDoC?

You have to pay a small fee of 0.1% in RIF to mint or redeem RDoC tokens.

How much does it cost to transfer RDoC?

It is free, once RDoC tokens are issued, RIF On Chain protocol does not charge for transfers.

Can I store my RDoC/RIFPro in my TREZOR or Ledger wallet?

Yes, you only need to connect your hardware wallet to Metamask or Nifty.

What is a RIFPro?

A RIFPro is like an empowered RIF, in fact its value comes from the amount of RIFs it represents on the RIF On Chain smart contracts, the RIFs represented by a RIFPro are literally trapped inside the smart contract. The RIFPro is designed thinking about long term RIF holders, it pays a passive income in RIFs and it has a little bit of free leverage. This means that when the price of RIF goes up, it goes up a little bit more increasing the amount of RIF you hold, and when the price of RIF goes down, it goes down a little bit more, however this downside can be diminished by the passive income. It also receives 50% of the platform's fees and an interest paid by RIFx positions.

Are RIFPro completely risk free?

The incentives are aligned so that when the price of RIF drops significantly, more collateral is added to the system. Which is designed to make the RIFx take most of the risk, however, in a black swan event the system could enter in liquidation and the RIFPro holders could lose their RIF.

Are RIFPro redeemable at any time?

Typically you will be able to redeem your RIFPro for RIFs against the smart contract. But there are some market conditions where the collateral cannot be taken out of the system. In this scenario you will be able to sell your RIFPro for RIF or rDoC in the decentralized token exchange (TEX) or another secondary market like RSKSwap o Sovryn.

How much does it cost to mint or redeem RIFPro?

You have to pay a small fee of 0.1% to mint or redeem RIFPro.

What is a RIFx?

Is a leveraged position on RIF. This means that when the price of RIF goes up, the price of RIFx goes up higher, and when the price goes down, it goes down lower. RIFx is a high risk product and you can lose 100% of your RIFs in unfavorable market conditions.

Can RIFx be redeemed at any time?

Yes RIFx can be redeemed at any time no matter of market conditions.

Is RIFx a future contract?

RIFx act like a future contract, it expires every 30 days, but there are no order books to trade it to, you trade against the liquidity pool formed by all the RDoC tokens in the system.

Has RIFx a fixed leveraged?

At the beginning of the period the leverage is 2, but it can fluctuate with the price. You fix your leverage when you set the operation, but the leverage for newcomers will depend on the current price and the starting price of the contract. IE:
  • The price of RIF is 10k, current leverage is 2x. You buy 1 RIF of RIFx. One week later the price of RIF is 40k. You have 80k.

How is the rate for the RIFx calculated?

It depends on the amount of RIFx issued. The higher the amount, the higher the rate. For further details check our technical whitepaper.

How is rate paid by the RIFx?

The rate is paid in full until the settlement date and fixed at current rate, if you redeem your RIFx, depending on market conditions it could be more or less of what you paid, check our technical whitepaper for further details.