With its token presale imminent, ReadFi aims to re-establish a reading culture among the blockchain community by rewarding users.
Fair Launch Incoming
ReadFi, a metaverse lifestyle app with built-in cultural relationships and Social-Fi, is gearing up for its token fair launch via PinkSale. Leveraging PinkSale’s massive audience, the presale of its native token, $RDF, is scheduled to run from August 27 – August 31, starting at 12 PM UTC.
The project recently concluded a whitelisted private sale on a first-come-first-serve basis with the hard cap fixed at 50 BNB.
More Details on Fair Launch
● Launchpad: PinkSale
● Time: From 12:00 UTC, August 27 – 12:00 UTC, August 31
● Token: RDF (ReadFi)
● Tokens For Presale: 10,000,000 RDF
● Soft Cap: 200 BNB
● RDF will be listed on Pancakeswap
What is ReadFi:
ReadFi is an emerging blockchain project determined to rehabilitate the blockchain community to devote some of their daily time to reading, and to encourage its users to read daily through the read-to-earn mechanism. In recent developments, ReadFi has introduced the Metaverse Library in the digital space.
The project intends to integrate reading into today’s virtual world, with the read-to-earn software and Metaverse Library as some of its futuristic plans. Its goal is to serve as the largest library of the metaverse, bringing together famous writers, users, and various communities, enabling them to socialize in a cultural sense.
Features of the ReadFi Platform
• Social-Fi: ReadFi is a metaverse lifestyle app with built-in cultural relationships and Social-Fi.
• Read 2 Earn: Users equip themselves with Glasses NFTs and get a chance to earn $RDF tokens by reading books. The tokens can be used within the platform or sold for profit.
• Developing Technology: While ReadFi aims to lead many people to a more cultural lifestyle and connect them to the metaverse, it simultaneously adheres to the Social-Fi direction to create a stable platform that supports Web 3.0 and metaverse content.
• Earn with Reference: Users can invite friends to read events and earn crypto.
• Social Development: The ReadFi Project is the first in the blockchain universe and has been built to enable people develop and gain culturally.
• Metaverse: Built in the metaverse to give the most excellent support to people in the cultural sense.
ReadFi is currently in Beta, and users can download the Beta version of the ReadFi application here.
How the NFT System works
Each series of ReadFi NFT has its determined profit system and rates. Depending on the quality, ReadFi NFTs show an evolving reward distribution in earnings and offer more holder benefits within the events and reference system. NFT holders can have a new reference code and get higher reference gain according to their NFT quality.
A specific portion of fees generated from trading the ReadFi NFTs will be channeled into liquidity.
Total supply: 100.000.000
Chain: BNB Chain
Initial MC: TBA
Vesting: 100% TGE
Private Sale Price: 0.04
Presale Price: 0.06
10% has been allocated for orivate and presale rounds, with 12% reserved for the team and vested for 7 years. To learn more about token distribution and allocation, visit the tokenomics page here.
With the ReadFi token, users can access newly released works of famous authors, win by participating in weekly and monthly events, and win by participating in question and answer events on general culture and some areas. In addition, users can earn by staking the ReadFi token as well as market their works on the ReadFi platform. According to the whitepaper, some of these features are currently under development.
ReadFi Deflation Mechanism
In order to create price stability and boost user network growth by increasing governance token holders, ReadFi will engage a deflationary buy-back and burn function.
Fees obtained from the question and answer activities, sales of the unique works of authors or individuals, and earnings from activities on the ReadFi platform will be used in the buy-back program. 75% of the total amount of NFT sold will also be used in the buy-back program, with the remaining 25% channeled into active marketing.
Over the next 7 years, ReadFi will burn 25% of the Ecosystem Fund and Mining Rewards. The burn function takes into consideration multiple factors such as fees, unspent budget, network growth in TVL and users, as well as the stability and health of the protocol.
The native token $RDF has been listed for tracking on coin analytics aggregators CoinMarketCap and CoinGecko. The team has also scheduled token listings with cryptocurrency exchanges MEXC Global and Bitmart.
The Path Ahead
With a little over a month left in the third quarter of 2022, ReadFi still has a lot of plans coming for the community, according to the roadmap. Asides from the upcoming presale, there are plans for Trust Wallet integration, token public sale and DEX listing, security audits, early user airdrop, multi-language support, and read-to-earn functionality.
While ReadFi aims to lead many people to a more cultural lifestyle and connect them to the metaverse, it simultaneously adheres to the Social-Fi direction to create a sustainable platform that supports Web 3 and metaverse content.
Learn more about ReadFi and stay updated with future developments via the following links:
Source : bsc.news
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