TI Rating Report - RAI Finance

1. Project Introduction

RAI Finance is a cross-chain transaction protocol based on the Polkadot network. It was jointly developed by the Chinese and South Korean teams. It aims to connect and integrate through Polkadot's Parachain to provide issuance and transaction functions for various assets in the protocol. The target group is mainly retail investors. The protocol includes four functions: decentralized exchange DEX, Swap, asset issuance, and social trading system.

Its AMM is developed using Substrate, and uses a variety of Constant Function Market-Makers for different asset classes, aiming to provide traders with multi-asset exposure, reduce slippage, and improve the liquidity of the asset pool while ensuring the returns of liquidity providers. The protocol will also support user-created asset issuance and transactions (such as issuing their own trading strategies into tokens, or issuing NFTs). According to the project disclosure, its main functions such as DEX and Swap will be launched in public beta in the near future.

1.2 Project Progress

Since the release of the white paper in October 2020, RAI Finance has completed two rounds of financing, led by investment institutions such as Alphabit and NGC Ventures. On January 13, 2021, the first public offering was completed on the Korean blockchain community platform Cobak, and it was sold out within 1 minute. It is expected that the main network will be launched in the second quarter of 2021, and the public beta version will be launched. According to its official Youtube video, DEX is currently 80% developed and is expected to go live in the fourth quarter of 2021. As of the second quarter of 2021, it is expected to realize the IDO and SWAP functions based on the Ethereum EVM, and support the pledge of RAI to generate stablecoins. It has become a node of The Graph. The official will continue to develop core functions based on substrate and promote its launch on Polkadot. In the third and fourth quarters of 2021, the project party disclosed that it will realize the integration of the product to Polkadot and the integration of social transaction functions until full operation is completed.

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