What Is Ripae?
They are Ripae Finance, a cross-chain algorithmic stablecoin pegged to each native chain we are deployed on. An Algorithmic Stable Coin (ASC) is a non-collateralized stablecoin tailored for improving price stability. The beauty of algorithmic stablecoins is that they are much more capital efficient than their collateralized cousins. The finance will, with its experienced team, work towards expanding this idea of capital-efficient algorithmic stable coin and build on previous iterations to expand the basis of the ecosystem.
Ripae Coin Finance’s full focus is to build a true cross-chain algorithmic stablecoin protocol that is stabilized with true use-cases all around the DeFi Ecosystem. They started on Fantom and with the partnership of Multichain.org, main token $PAE is now available on multiple EVM chains.
| Coin Basic | Information |
|---|---|
| Coin Name | Ripae |
| Short Name | N/A |
| Max Supply | N/A |
| Total Supply | 471,966 |
| Source Code | Click Here To View Source Code |
| Explorers | Click Here To View Explorers |
| Twitter Page | Click Here To Visit Twitter Group |
| Whitepaper | Click Here To View |
| Support | 24/7 |
| Official Project Website | Click Here To Visit Project Website |
Initial Release $pSOLID
The following dates are the expected roll-out of the Ripae Finance $pSOLID product on Fantom.
- Genesis Start = 2022-02-28 12:00 UTC
- Genesis End = 2022-03-03 12:00 UTC
- Tellers Start = 2022-03-03 12:00 UTC and last for 180 days
- Bank Start = 2022-02-04 12:00 UTC
Genesis
The Genisis pools will start distributing $pSOLID reward on the 2022-02-28 12:00 UTC. These Genesis pools will be the only way to be the first to earn $pSOLID. This is a 100% fair launch which means that no $pSOLID tokens are pre-minted to any individual party. The Genesis pools will last for 72 hours.
OLD Genesis
Under this doc are all the previous Genesis located in order to go back in time and check on the dates and timings that they released a certain chain/deployment.
Tellers
The Tellers will start distributing $PAE reward at the end of Genesis. These Tellers incentive users to provide liquidity and in turn, will be treated with earning $PAE that can be used in Ripae Banks on BOTH Avalanche and Fantom. These Tellers will be distributing $PAE during 180 days.
Bank
The Bank will start distributing $pSOLID reward on the 2022-03-04 12:00 UTC. You earn this $pSOLID by staking your $PAE. The Bank will continue distribute TWAP every time is $pSOLID above 1.01 $SOLID.
Ripae – Your ONshore Bank
Ripae means Bank in Latin, not really a Bank, but a Bank, anywho, This is meant to revolutionize the algorithmic stable coin sector by providing a true and honest service that builds upon previously battle-tested protocols. The takes what works from previous iterations and builds on those by providing the extra benefit of being a true sincere protocol that everyone can be proud of.
How does Ripae Work?
Ripae Finance works by adding different moving pieces together in a combination of Game Theory in order to facilitate the actions needed in order to algorithmically hold individual pegged tokens pegged to 1 native chain token, or as close as possible.
This means that until the peg of 1 $pegToken = 1 Native Token is fully met, there will be fluctuations both above and below 1 = 1 in order for the value to find each other. Think of it as landing a plane where the wind moves the plane up and down while going for the landing, but as soon as the plane has landed, the wind doesn’t matter anymore. The following describes their moving pieces.
Security
Ripae Finance takes security seriously. The fork they used to create the base of this is from Tomb, which has been scrutinized for months. They have hired the highly regarded auditing firm Obelisk Auditing to do a full audit of the Protocol.
Governance
As a shareholder of Ripae Coin Finance, you are encouraged to take part in the active development of the protocol. There are many ways to take part in something as astonishing as a DeFi protocol, and everyone is welcome to take part as much or as little as they want. By being a holder of $PAE, you are encouraged to make proposals for the future direction of the Protocol.
There are also other ways to get involved, please ping a team member if you have an interest in helping out. Holders of $PAE are also encouraged to vote on those proposals, making their voices heard. You as a stakeholder are what drives the protocol into the future. Always be, never flee!
