Hello everyone!
Our Ray Network team would like to make a request to add the Yield Farming pool on Minswap DEX. Once Stage 1 is complete, we are ready to start distributing Stage 2 and allocate XRAY tokens to liquidity providers through third-party DEX. Read more in section 1.4 below.
1.1 Please describe your project. What is it doing to improve Cardano?
Ray Network is an advanced DeFi ecosystem for Cardano blockchain platform. We provide the whole range of blockchain solutions for Cardano that depend on each other: from DeFi exchanges, API provisioning systems, light wallets, minting tools & explorers, to different SDKs that open the blockchain world to thousands of crypto-enthusiasts from all over the world.
Some products already work and are used by hundreds of Cardano enthusiasts, such as RayWallet, RayStake, Minterr, and several others. 2023 will be the year of DApps for the Ray Network - there are several releases planned that will take interaction with Cardano blockchain to the next level!
Read more: https://raynetwork.io/ecosystem/
1.2 What does the Token do? How many holders does it currently have?
Ray Network token - XRAY - is a Cardano based cryptocurrency token for fuelling the Ray platform. Ray is a highly functional open source project that banks on blockchain technology’s permissionless nature to provide decentralized finance (DeFi) solutions and other services.
Ray Network is an advanced ecosystem for the Cardano blockchain platform. Our goal is to create the best multifunctional DeFi ecosystem for Cardano blockchain. XRAY is the governance token that powers Ray Network ecosystem. This is well positioned for community-led growth, development, and self-sustainability token.
When most services are fully launched, the token will be used as payment for those services, such as premium Minterr marketplace placement, RayPad placement, tokens minting, governance, and yield farming in RaySwap / RayStake. It will also be used in our Atala PRISM-based B2B solution.
- Payments
- Staking
- Funding
- Ecosystem Features
- Pigz.io In-game Currency
1.3 Why do you want a MIN Farm? How does the Minswap community benefit from offering a MIN Farm for your Token? Apart from the MIN Farm, will you add your own Token as incentives as well (Double Farm) If yes, how much?
The growth of the entire Cardano ecosystem is only possible by working together. To begin with, we will allocate 5M XRAY tokens for the Minswap Yield Farming program. Next, our APY target will be ~20% APR
1.4. How much circulating supply is there of your token? Please inform us briefly on your tokenomics, including the distribution and vesting schedule of the token (investors, team, yield farming, etc.)
Total Cap is 324,922,240 XRAY.
In Stage 2, the community will receive 50,145,921 XRAY tokens: these will be allocated through the distributions on third-party DEXes, with a target APR of ~20%.
Ray Network’s tokenomics is based on full value creation by the community’s participation in the life of the project. The initial token distribution was completely free in the ISPO and RayStake Stage 1 programs with high APR. 57.07% of all tokens were distributed to participants in these programs (total of about ~25,000 participants). 15.43% of the tokens will be allocated to stimulate the community to provide liquidity and other value creation programs. In total, the community accessed 72.5% of the total capacity of tokens. A detailed infographic can be found on our website.
1.5. Is your Project audited? By whom?
We are actively working on DApps, and audits will be passed before releases.
You can find current open-source projects here (all projects will be available as open-source after releases): Ray Network · GitHub
- Yes
- No
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