We live in a world where financial freedom is an expensive commodity.
With Relite, we want to provide an open-finance space where lending and borrowing are unstoppable and accessible to all.
We are building a cross-chain lending platform that will enable users to lend and borrow with their native cryptos in one protocol.
One protocol that can challenge the existing status quo.
With the launch of Relite.finance we will tackle 3 important pillars that DeFi needs to re-define.
The lack of interoperability in the current blockchain ecosystem is one of the largest hurdles to overcome required to usher in the new, decentralised, open, financial system. Here at Relite, we’re ready to answer that call and are on track to create a multi-chain, interoperable, future in which the segregation of blockchains does not exist.
The avenue which we believe will lead to the brightest future and enable us to achieve our aim of interoperable, unstoppable, and accessible finance is; Polkadot and Parachains, the best bet against chain maximalism. On top of that, we can quikly utilise any existing contracts we have already on solidity.
By utilising the Polkadot technical stack, we’ll enable and have access to:
In order to achieve maximum security, our initial main contracts are written in Solidity, due to its tried and tested nature which evidences its security and robustness. However, a significant portion of the Relite stack will roll out, and thrive, on Polkadot. We will be using the Moonbeam parachain that shares the security, consensus, and cross-chain interoperability of Polkadot’s Level 0 Relay chain. Chain Bridges will be leveraged to conduct cross-chain transactions and bring functionality to Ethereum and other blockchains.
The rapid rise in the popularity of DeFi has brought about a rapid rise in fees on the Ethereum blockchain. There’s no doubt that this restricts accessibility; one of the core tenets of decentralised finance.
Gas fees will keep rising.
But fees are not the only entry barrier to the world of decentralised finance. The incredibly high collateralisation users are required to provide is restrictive and contradictory to the goal of an open, decentralised, accessible system. As of today, average collateralisation is 180%. This is not sustainable.
Relite addresses this barrier to entry through several ways:
Loans should be straight-forward, accessible, and affordable. At Relite, we’ve developed a truly accessible interface where users, novice or otherwise, are guided through the process and receive smart notifications based on their behaviour. Our user experience and flow enables users to easily deposit assets to supply liquidity, provide collateral to access a loan, and unlock the next level of finance.
3 clicks. That’s all it takes to unlock open, decentralised, and accessible financial solutions.
RELI, the governance token of the Relite protocol, sits at the centre of the Relite ecosystem. RELI serves three main purposes:
A DAO structure where the community decide on future implementations, fees, and integrations will be implemented
Users are rewarded for staking RELI and participating in the Relite ecosystem. Approximately 2.275.000 RELI will be allocated for liquidity mining. Lenders and Borrowers will receive RELI government tokens (0.1%) distributed daily
Holders will be able to stake RELI in the Reserve Fund enabling additional rewards whilst compounding the security of the protocol. Users who stake their tokens in the reserve fund receive payouts from the loan margin proportional to their stake. Currently, this is set to 1%.
*Update April 2021
Token name: RELI
Initial Supply: 14M
Hard Cap: $1.5M
Private Sale: $1M @ $0.035
Public Sale: $0.5M @ $0.045
Team: 12 month lock-up, 12 month vesting
Private: 12 month vesting, 1/12 per month release
Advisors: 12 month vesting, 1/12 per month release
Public: No lock-up
Relite possesses several competitive advantages:
From day 1 Relite is building its solution around interoperability. We allow seamless communication between different chains.
Pools for dedicated Polkadot ecosystem tokens
Holders of DOT and related Polkadot projects will have dedicated lending and borrowing pools enabling high liquidity. This is unique to the Relite protocol.
Lower fees and Interest Rates for borrowers
Much lower fees for contract execution enabled by Polkadot scalability and pool flexibility. Reasonable interest and accessible collateral ratios for borrowers.
Reshaping the DeFi Landscape
With our open, bold, and innovative approach, Relite is set to reshape the DeFi landscape. With an accessible, user-friendly, and affordable solution to decentralised finance, we’re set to tear down the barriers of DeFi; the evolution in the financial system which should have no barriers of entry from the outset.
Q1 + Q2 2022
Q3 + Q4 2022