Yesterday, PAID network has announced that Relite Finance’s IDO launch will commence on their platform Ignition. The company announced this through their Medium page.
The company opened its Whitelist on 23rd April and you can whitelist for Relite’s IDO by clicking HERE.
Relite Finance is a money market protocol that enables users to lend, borrow and stake crypto assets. The protocol’s breakthrough feature is management of all types of crypto assets under a single protocol.
What this means is, The protocol can utilize ERC-20 tokens and tokens on other parachains too like Bitcoin and Polkadot. Through this, Relite finance hopes to boost adoption of DeFi platforms to masses.
Relite finance can access the following features through their dashboard:
- Staking pools where users can choose to stake.
- Asset pools where users can deposit into.
- Lending and borrowing pools where users can deposit and borrow from.
- The option to buy RELI, the native token of the platform.
The company’s token RELI tackles the following:
- Liquidity Mining
The token has a total supply of 182 million. Initial circulation supply will be of 14 million tokens. Hard cap for token sale is set at $1.5 million.
Relite is planning on a public and a private sale where:
- Private Sale: Each token at $0.035 with a cap of $1 million, and
- Public Sale: Each token at $0.045 with a cap of $0.5 million.
For an in-depth analysis about Relite Finance, check out here: Relite Finance: A money market protocol enabling lending, borrowing and staking crypto assets
We had also done an interview with Relite Finance’s CEO George Groshkov, check it out here: Interview: In conversation with Relite Finance’s CEO George Groshkov