Web App FAQ

What is USDRIF?

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 USDRIF tokens can always be redeemed for the same amount of dollars in RIF.

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

You have to pay a small fee of 0.25% in RIF to mint or redeem USDRIF tokens.

How much does it cost to transfer USDRIF?

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

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

Yes, you only need to connect your hardware wallet and log in by clicking the wallet of your choice.

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.

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. However, 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 USDRIF in the decentralized token exchange (TEX) or another secondary market like 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.