BSCN

ReadFi AMA Transcript

by BSCN

August 27, 2022

" A Metaverse lifestyle app with built-in cultural relationships and Social-Fi "

Stephanie (BSC.News)

Hello everyone and welcome to the AMA with ReadFi! Today we have 2 members of the ReadFi team (@jackread AND @jamesdiazz) here with us to talk about their exciting new platform. @jackread will be joining for the later part of the AMA. @jamesdiazz Great to have you here :)

Homer| ReadFi

hello stephanie

and thank you for having me :)

Stephanie (BSC.News)

Welcome! Pleasure to have you here today

Without further due, we will jump right into the questions. Sounds good with you?

Homer| ReadFi

yuppers

lets go ahead

Stephanie (BSC.News)

Great, so to kick things off, for those who may be unfamiliar...

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1. Please introduce yourself and the team behind Read Fi.

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Homer| ReadFi

Absolutely

Hi everyone I'm James one of the founders of ReadFi.io

About my experiences I have to say I have about 7 years experience in crypto space and involved in almost 10 projects as financial & marketing advisor

Also in core team we have 5 more ppl who have several skills in developing digital startups and gaming experts who help us to develop our Metaverse and read to earn platform by ourselves

Stephanie (BSC.News)

7 years of experience in crypto is amazing! Sounds like you guys have a great team so let's talk about the project itself

Homer| ReadFi

Appreciated

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2. What is Read Fi and what are you trying to accomplish with your platform? Can you tell us how to use Read Fi?

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Homer| ReadFi

sure,let me just told you this way:

The ReadFi is an emerging crypto platform developing the project, determined to rehabilitate the blockchain community. It devotes some of its daily time to reading and encourages its users to read daily through the read two earn mechanism. In the recent development, ReadFi has introduced the Metaverse Library in the digital space.

The ReadFi project intends to use all its power to integrate reading and today's virtual world to combine reading into today's virtual world. Read 2 earn software and Metaverse Library projects are some of the futuristic plans of this project.

I’m invited you to watch the below video to understanding our ideas

Stephanie (BSC.News)

I will give 3 minutes to our community to watch the video clip

Thank you for all that information! Let's unpack a bit as there was a lot I wanted to touch on. So first let's talk about your token

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3. What is $RDF and how are they utilized on your platform? What’s tokenomics? Is your token deflationary?

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Homer| ReadFi

absolutely

let's go ahead

$RDF is our Governance token which is help us to sell NFTs and internal transactions in metaverse

We have to inform the community that we plan to not use $RDF as our EARN asset the earning fund will come from stable coins that we will prepare from our passive income from advertising and events in our APP and metaverse

The tokenomic is pretty strong

You can see all the details below:

Also i want to mention ReadFi will burn 25% of the Ecosystem Fund and Mining Rewards over the next 7 years. Our burn will function similar to the BNB mechanism which takes into account multiple factors including:

· Budget not spent

· Fees

· Network growth in TVL and users

· The stability and health of the protocol

The goal of the burn is deflationary, creating price stability and encouraging user network growth in the form of governance token holders.

Further information about the proposed burn structure will be provided in subsequent blog posts as well as community voting.

Stephanie (BSC.News)

Thank you for all that info! The table summarizes the answer very well 😀

Homer| ReadFi

haha it's my pleasures 🥰

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4. Tell us about your NFT operating system, including uncommon and rare NFT features and operations

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Homer| ReadFi

The series of NFTs offered by ReadFi has its determined profit system and rates. ReadFi NFTs show an evolving reward distribution in earnings according to their quality. According to the quality of Readfi NFTs, it offers its holders more benefits within the events and reference system.

According to the NFT quality holders, they can have a new reference code and get a higher reference gain. A specific part of the proceeds from Readfi NFT trading will be reflected in liquidity. People can earn more by participating in Weekly and Monthly events with ReadFi Tokens. With ReadFi Tokens, users can also access many newly released works of famous authors.

For more details you can check:

ReadFi uncommon NFT features and operation

ReadFi rare NFT features and operation

ReadFi epic NFT features and operation

ReadFi legendary NFT features and operation

Stephanie (BSC.News)

Cool! Daily earn rate almost doubles as you go for the higher tier NFT

Homer| ReadFi

indeed

Stephanie (BSC.News)

Neat. So let's actually talk about Read Fi contents as this is something that I found to be really interesting

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5. What are the Read Fi contents? Are you planning to expand the contents in the future?

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Homer| ReadFi

basically we have a plan for next 7 years to expand our project to the top cultural project in the blockchain space

for this target we have a clear milestone to make partnership with big cultural institutions and also tech companies to merge them together and make one solid all in one space for who love the cultural activities

Stephanie (BSC.News)

Awesome! Lots to look forward to

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6. Please tell us about the benefits and advantages of using Read Fi.

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Homer| ReadFi

I will give you a quick answer😊 With ReadFi we just give a great solution to our community to have healthy and Elite relationships and activities besides making some passive incomes to reach financial freedom.

After the covid-19 we all understand that the whole world needs this at all.

Stephanie (BSC.News)

Absolutely! Especially people spend more time at home and they can earn passive income by earn to read

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7. Please briefly introduce ReadFi staking pools

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Homer| ReadFi

sure

We have several stake pools with different mechanisms depending on how much and for how many days you will stake your tokens in the pool, for example you can refer to the table below in units.