Hi reader, In this article, we'll cover the Rigel Protocol solution into Defi. The Rigel Protocol is a project designed to bring new solutions to the Defi space, a Decentralized protocol that aims to give the community access to
several instruments to expand the adoption of Blockchain technology.
Since the inception of Decentralization Finance into the crypto space, many crypto users have been enjoying the amazing opportunity by Defi, giving users full control over their funds. Devi is open to anyone to use, rather than going through middlemen like banks or brokerages. Unlike a bank or brokerage account, a government-issued ID, Social Security number, or proof of address are not necessary to Defi.
What is DeFi
Defi is a platform that allows people to lend or borrow funds from others, speculate on price movements on a range of assets using derivatives, trade cryptocurrencies, insure against risks, and earn interest in savings-like accounts. More than $40 billion has been locked in the Defi contracts as of March 2021.
Defi makes it easier to keep data and other files secure, with data stored across multiple computing machines in multiple locations, the risk of a single entry point is to mitigated and makes fewer data accessible at each point.
Also, Defi provides cheap transaction fees and curb security challenges. Many centralized exchanges get hacked over the years and many users have lost their funds stored on these platforms.
What is Rigel Protocol
A Rigel protocol is a project built to revamp existing Decentralized Finance (DEFI) products while introducing several innovative DEFI products to boost and support scalability, security, improve user experience and adoption. Rigel Protocol is a decentralized project that brings new solutions to the Defi space, it gave the community access to several instruments to expand the adoption of Blockchain technologies in daily life. In Rigel Protocol all communities. All proposals and decision-making are established and decided within the community.
Various Defi products are introduced, such as cross-chain operations, token swapping, yield farming, margin trading, and many more. All these features are built to provide a wide range of opportunities for the users to
profit from the platform.
A protocol built to revamp existing Decentralized Finance (DEFI) products while introducing several innovative DEFI products to boost and support scalability, security, improve user experience and adoption.
The Rigel Protocol is a platform for people. As decision-making and ownership are kept within the users, this enables users to control the funds in a non-custodial way. No KYC is required, anonymity is guaranteed and users keep their identity private. No passwords, wallet keys, seed phrases, or 2-factor authentication are needed to use the platform. All transactions and interactions are handled by verified and audited smart contracts. As secure as the Blockchain itself.
To ensure high-speed transaction, low latency, low fees, and quick adoption, the Rigel Protocol will launch on both: the Binance Smart Chain and the Ethereum Blockchain.
Rigel Protocol's Products
Cross-chain
The Rigel Protocol smart contracts are based on the Binance Smart Chain and the Ethereum Chain which is built with solidity. The Rigel Protocol combines the use of the Binance Smart Chain and the Ethereum Chain to secure cheaper fees and faster transactions in swapping, yield farming, and futures trading, among others.
Smart Swapping
Rigel’s Smart Swapping allows users to trade various tokens like BNB, BUSD, USDT, ETH, TRON, BAND on the Binance Smart Chain, and the Ethereum Chain with other tokens like USDT, LINK, DAI, CRO, UNI, YFI, OMG, HEX and many. Users also enjoy quick and cheap swap operations between various tokens
Yield Farming
Yield Farming provides a decentralized platform that will protect liquidity providers by having a lower APY(Annual Percentage Yield) and having a locking period for tokens mined through this pool. This will allow users to farm tokens over the period taken based on the assets supplied to the platform.
Margin Trading
In Margin trading, users can borrow funds from a lender to trade an asset, which forms the collateral for the loan from the lender.
Gaming
The Rigell Platform will launch a series of Decentralized gaming products that will enable users to participate in tournaments. Players will be able to participate in the tournaments by using the platform native token: $RGP.
https://www.investopedia.com/decentralized-finance-defi-5113835
About Rigel Protocol
The Rigel Protocol is Decentralized protocol that aims to give to the community access to several instruments to expand the adoption of Blockchain technologies in daily life.
Join our community:q
Twitter: https://twitter.com/rigelprotocol
Telegram Channel: https://t.me/rigelprotocol
Telegram Updates: https://t.me/rigelprotocolupdates
Medium: https://medium.com/rigelprotocol
Youtube: https://www.youtube.com/c/rigelprotocol
Website: www.rigelprotocol.com
Whitepaper: https://www.rigelprotocol.com/whitepaper
E-mail: support@rigelprotocol.com