The Movement that started it all
This article is for people who’ve heard the buzzwords, noticed the hype, felt the first quivers of an impending technological earthquake, and wants a seat closer to the stage so that, just maybe, they can get to peer further backstage to see how it all works. It’s also for people who’ve already dipped their toes into the DeFi cryptoverse and is yearning to swim towards the deeper end.
When you’re ready.
Try not to do it while attending classes or when you’re at your work desk during work.
But if WFH, then WTH. Surf’s up.
At first glance, it seemed like you have entered a digital arcade, what with its Disneyland aesthetics and candy-shop colour schemes. You swear its either an internet gaming site or a clone of some food-themed online Casino. As beguiling and goofy as the UX design seems to appear, this is not a flippant fantasy island programmed for distraction. Its creators are motivated by much more ponderous propositions.
So what is RissottoFinance really about then?
Why RissottoFinance? Why this rather plebeian dish for our chosen name?
Emblematic of our philosophy of “Power to the People” It’s a humble staple that packs quite a punch. It can be a real simple dish, demanding no fuss, unfurnished and warm, just there when you need it to be. But for those who are familiar with the dish, it can be a complex piece of art, seasoned with spices and swimming in seafood, when occasion demands. It is detached from religion and beliefs, unassociated with class distinctions, neutral to dietary orientations and absolutely unconcerned with your age group. It’s a dish for everyone and anyone. And quite frankly how it will taste depends entirely on the effort you put into making it.
Just like how Web 2.0 technologies of the previous decades launched the first salvos at the powers that be; RissottoFinance, as we call ourselves, joins the ranks of a revolutionary force that will harness the full potential of Web 3.0, which, running on blockchain technology, through progressive acts of decentralisation, aims to give “Power back to the People ”.
And so it was, not too long ago that companies like Uber, Airbnb, and YouTube dared to tip the power scales for “us” to respectively control our labour hours, commercialise our assets and commoditise our creative content. RissottoFinance, through the nascent DeFi platform, intend to break borders together with; regain asset control over; and democratise finance for; the everyday people most in need of these reforms. No small feat you’d reckon.
The social contract has long been broken now. Thomas Hobbe’s Leviathan, for those that trust such as system, is now over-fed and bribed into serving the few over the many. And as we stand gazing past the gates of an arcane institution with their moated fortresses, darkened windows and ever-looping prowlers; we see a private party we will never be invited to.
Picture a few Trillion US Dollars. Imagine them bottled in a crazy assortment of derivatives, each bottle signifying a business, each capturing varying probabilities of profit, floating from one genie-hopeful owner to the next. And that, is what we call the Capital Market. And that’s in the USA alone, where GDP is about 20 Trillion USD at the time of writing. Where makers, producers and entrepreneurs sell the promise of value to stakers, savers and speculators alike. And by the way, this took centuries to develop. From the first stock exchanges of Amsterdam in the 1700’s, to the “teenage” Korean Exchange that is just starting to blossom, this was, and still is, a platform for which value exchange hands.
Now picture an exchange like that for Digital Assets and Decentralised Organisations in a world unbounded by physical borders, unencumbered by corporate hierarchy and free from political interference. You won’t need a broker, a fund minimum, a membership or a finance degree to participate. Just a willingness to learn new stuff and a connection to the internet. This exchange already exist, of course, and worth, at the time of writing, about 2 trillion USD in terms of market cap. Not bad for something that made its debut about 6 years ago.
Our philosophy aligns beautifully with the fundamental principles of this wonderful new marketplace with its neonatal ecosystem. This is where the journey must begin. And if you are in for the ride, we do have something really incredible to offer.
First, a word about scams.
During the COVID-19 pandemic, financial fraud, like the infectious virus that wreaked havoc around the globe, have seen an unhealthy boost. The digital systems people utilize to socially interact, conduct their business, purchase goods, and in some cases seek medical help, all face increased risk of falling victim to a COVID-19 motivated criminal scheme of attack.
The world of DeFi is not immune to fraudulent behaviour. There is even a term for it. A “Rug Pull”, as it is known, is a scam promotion of a crypto token via social media. After the price has been driven up, the scammer sells, and the price generally falls to zero.
RissottoFinance addresses this issue directly right from the onset.
We have removed the Rugpull Migrator backdoor that would have facilitated many a “Rug Pall” scheme. In effect, and absolutely verifiable by one and all, as is the nature of blockchain transparency, we will not be able to migrate your assets without your green light. Read more about it on our Gitbook guide to RissottoFinance. We welcome your audit. Let’s put this to bed.
Now, before we come to DEX, let’s talk DeFi.
Decentralised Finance, affectionately known within the community as DeFi, a word coined as recently as 2018 in a telegram chat between Ethereum developers and entrepreneurs, is a very new and sometimes confusing space for many. Spawned into relevance by MakerDAO in 2017 when the first “money lego” was laid, DeFi have already seen, in its very short span of existence, technological mutations stretching 3 generations.
DeFi is a an umbrella term for financial services on blockchains, primarily supporting most of the things that banks support — earn interest, borrow, lend, buy insurance, trade derivatives, trade assets, and more. But it’s faster and doesn’t require paperwork or a third party. Its global, peer-to-peer, pseudonymous, and open to all.
Now, RissottoFinance is really a type of Decentralised Exchange aka (DEX) known as an automated market maker (AMM). This essentially means that there are no order books, bid/ask system or limit/market orders. And we exist in the DeFi space to serve you in a way that the typical Centralised Exchange, cannot.
This is how we are different.
Every centralized exchange we know about follows the requirements for Know Your Customer and Anti-Money laundering (KYC/AML) which removes users’ privacies by requiring them to provide extensive documentation to prove their identity.
As a decentralized exchange under no regulatory authority users are able to transact with privacy at RissottoFinance. Anyone anywhere in the world is able to trade in the hundreds of assets available at RissottoFinance.
And if your are comparing other DEX on the ERC-20 protocol, we have an edge too.
Built on the Binance Smart Chain (BSC) and utilising the BEP-20 protocol means that we can provide faster transactions for lower fees. BSC achieves its scaling prowess in part by being less crowded than Ethereum, and with their barely-there transaction fees, trading on RissottoFinance is undeniably better for smaller wallets who can't quite call themselves crypto whales and don't have unlimited funds to drop on gas fees.
You already know what’s in the pot at this point in time, but why us? Why eat RissottoFinance and not sushi or pancake or some other stuff from the fun fair stalls? Why don’t you come on in to our little caboose, give your nose a treat and get a behind-the-scene kitchen tour with the chefs.
With RissottoFinance you will be able to:
· Trade BEP20 tokens
· Provide liquidity to the exchange and earn fees
· Stake your LP (liquidity provider) tokens to earn RSOT token
· Stake RSOT to earn more RSOT
· Stake RSOT to earn tokens of other projects
Still hungry? Come on round to the back, we’ll show you our farms. Yeah, we’re pretty serious about the Farm-to-Table thing.
Come on down to our RICE PADDY
Before we begin the Yield Farming process on RissottoFinance’s Rice Paddy, we need to understand Liquidity Pools. Simply put, Liquidity pools are pairs of crypto assets. These crypto-asset pairs are locked by smart contracts, forming an aggregated store of assets pooled together by investors. They are an essential feature in the DeFi space, offering critical support structures across different networks.
You will be required to stake two tokens in our Liquidity Pools to get LP Tokens, which you will then stake in our Rice Paddies to earn RSOT rewards. This works out for everyone since there will be more liquidity for the ecosystem, a revenue stream for RissottoFinance and ultimately income for the staking investors of RissottoFinance.
And now perhaps, some desert?
Enter Swoops, our proprietary Trade-bot. Our pride and joy. And perhaps the dominant feature that will set us apart from the multitude of DEX’s out there. Our Unique Selling Premise is that if a bot can do it better, then the bot should absolutely be doing it. Alone. This is most tactically relevant for day or short term trading operations of course. If you intend to pick & “hodl”; DYOR, conduct in-depth fundamental analysis, place your chips and leave it alone.
Think of Swoops as the executioner. It communicates with our algorithmically wired signal bots, programmed to read the patterns of a fluctuating markets, and thereafter literally swoop in for the kill.
I know what you are thinking. Can you really trust a bot?
From robotic-armed assembly lines to military drones; when speed and / or precision is required, it serves us best to automate these processes and leave it to the bot. Let’s just sit back and take credit for exercising refrain. Because, let’s admit it, we will never be better than a bot in staring at charts, or faster for that matter in executing a trade.
Your input to Swoops need only be in the form of a set of parameters. Determine your risk tolerance, set your trading limits, instruct Swoop upon set-up, and literally wait to make money in your sleep.
You don’t have to believe us. In fact you mustn’t be naturally inclined to.
The good new is that you won’t need to just take our word for it. The community is in a happy place right now. An honest space. And we are happy you took the tour.
So check it out for yourself. Everything is as see-through as it gets. Welcome to the blockchain. Nothing gets erased. And yes we will fumble and we will falter. That’s why we need your help to tell us how to make it better.
And if you get hungry from what they are serving you at those centralised cafeterias, know now that there’s something else on the menu. Order RissottoFinance.