Rigel Finance – A Combination of DeFi Protocols to Increase Your ROIs

Project Reviews / 04.01.2021

Rigel Finance is an Ethereum-based Automated Market-Making (AMM) Decentralized Exchange (DEX). This platform features a complete DeFi ecosystem that provides users with many options, including staking, farming, coin swaps, and more. The developers behind this concept leveraged a multi-layered DeFi strategy to provide Rigel Finance users with more flexibility and functionality in the market. 

Benefits of Rigel Finance

There are a lot of benefits Rigel Finance users gain when they participate in this ecosystem. The network’s strategy produces a variety of earning opportunities to take your DeFi experience up a notch. Here are some of the biggest benefits:

Arbitrage opportunities

Rigel Finance pre-sale investors gain some powerful arbitrage opportunities thanks to the platform’s pro-active exchange listing schedule. Specifically, the Regal Token has listing agreements in place with no less than seven major exchanges. While developers haven’t listed these platforms yet, they intend to list popular exchanges in terms of trade volume, according to their website. 

Passive Income

Keeping in line with the DeFi ethos, Rigel Finance investors have a selection of ways to secure a passive income. For example, you can earn rewards by Farming and Staking Rigel. You can even double stake specific tokens using the network’s proprietary protocols. Best of all, the network pays to stake rewards daily.

Liquidity Provider

Like Uniswap, Rigel Finance provides new projects with the ability to launch liquidity pools on the network. Any project can gain access to the Rigel Wallet’s robust market by funding a liquidity pool. Developers need to seed their liquidity pool with their project tokens and ETH to get started. 

Pool Selection

Rigel Finance provides users with a healthy selection of staking pools. The platform will launch with support for some of the most popular projects in the DeFi sector. Specifically, RIGEL-ETH, USDT-ETH, USDC-ETH, DAI-ETH, BUSD-ETH, AAVE-ETH, UMA-ETH, LINK-ETH, COMP-ETH, LEND-ETH, SNX-ETH, REN-ETH, CRV-ETH, YFI-ETH, CORE-ETH, WBTC-ETH, SUSHI-ETH, and UNI-ETH are supported.

Deflationary

Notably, Rigel Finance is a deflationary DeFi network. Deflationary protocols have become common in the market. These systems remove tokens from circulation to increase demand and sure up token prices. Rigel Finance conducts multiple deflationary actions. Daily, all the LP tokens are sold for RIGEL tokens. These tokens are then divided up proportionally between xRIGEL holders in the pool.

Additionally, the network will host near-weekly burning events. The frequency and amount of these events will be based on the platform’s total number of listings. These events will culminate in the second year with a 50% burn of all listing fees. These major burns are set to continue yearly, with the third year burn rate set at 25% and so on.

How Does Rigel Finance Work

The Rigel Finance network allows anyone to earn a passive income via staking and farming protocols. Projects also gain access to liquidity and additional earning opportunities utilizing this full spectrum blockchain ecosystem. Here are the main components of the network:

RigelSwap Exchange

The RigelSwap exchange is one of the core protocols of the network. This DEX allows you to swap any ERC-20 token instantly. To accomplish this task, the exchange relies on automated liquidity pools. Notably, users earn rewards for supplying liquidity to these pools. These rewards are paid in the form of RLP (RigelSwap Liquidity Provider) tokens.

When users trade on the RigelSwap exchange, they pay transaction fees. A portion of these fees is fed back into the network via liquidity pools. Specifically, 0.25% of trade fees go to a special rewards pool called the OrionNebula Pool. The current fee structure charges a 0.3% trade fee. There is also a 0.25% fee reward for LPs.

OrionNebula Pool

The OrionNebula pool is a reward pool. This protocol is designed to collect a portion of the fees from all the pools. The protocol then converts all of these fees into RIGEL on the RigelSwap Exchange. From there, these rewards are redistributed into the liquidity pools.

Staking

Network participants can stake xRigel tokens and receive a portion of the swaps fees. Interestingly, Rigel users enjoy the ability to stake their reward tokens. For example, you can stake your RIGEL and receive xRIGEL rewards. Then, you can stake this token in the xRIGEL pool to earn more rewards.

Farming

There are Yield Farming options available in the Rigel Finance ecosystem as well. Importantly, you need to add liquidity in RigelSwap Exchange to get RigelWap Liquidity Provider tokens. These are the only tokens that allow you to participate in farming pools.

Notably, you earn RIGEL tokens by farming RigelSwap V2 RLP tokens. The network supports 18 farming pairs currently. Farmers receive 15% of RIGEL/block in the pair RIGEL-ETH RLP and 5% of RIGEL/block for the other 17 pairs. 

Also, the developers introduced a unique rewards protocol for early bird farmers. The first 13 days of the pool will see users earn 4x more RIGEL/block than the basic minted RIGEL/block. Currently, this reward is set at 0.019051633 RIGEL/block.

Rigel Wallet

Users access the liquidity pools via the Rigel Wallet. This Android interface supports the storage of any Erc-20 token. As part of the network’s inclusive strategy, new and trending projects are invited to join the Rigel Wallet. Keenly, 50% of all listing fees go to deflationary protocol. Keenly, the Rigel Wallet supports the popular WalletConnect protocol. This protocol allows users to connect their DeFi Wallets to Dapps seamlessly.

Rigel Token

The Rigel Token is the main utility and governance token of the Rigel Finance network. This deflationary token is what traders will see listed on popular exchanges. 

xRigel

The xRigel token is the official staking reward token. Interestingly, xRigel is only minted by Staking Rigel. Users can redeem xRigel rewards by converting them back into Rigel via the network DEX.

RigelSwap Liquidity Provider tokens

RigelSwap Liquidity Provider tokens represent a proportional share of the pooled assets. These tokens make it possible for users to reclaim their funds at any point. RigelSwap tokens can also be used to farm within the network. 

Rigel Finance Token Sale

Rigel Finance’s token sale is now live. The event is in Phase 1. To participate, you need to download the Rigel Wallet and have at least $70 in ETH. There are some significant benefits gained by early-bird investors. 

Developers introduced the “Take Me To Rigel” marketing campaign this week. This campaign combines various high demand network developments, including seven exchange listings, the official platform launch, bonuses for early farmers, and a powerful marketing campaign. Interested investors can find out more information about the Rigel Finance token sale here.

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David Hamilton aka DavidtheWriter is a long time Bitcoinist and cryptocurrency journalist. Currently, he has over a thousand articles published on blockchain technology. His expertise and experience makes him one of the most reputable writers in the sector.