Adding XRAY Yield Farming Pool

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

0 voters

19 Likes

Top10 Token by Volume! No brainer :ok_hand:

11 Likes

A star on the rise, cant wait to see that farm finally on minswap! Lets go guys!

6 Likes

Yes, do we have a date?

2 Likes

Let’s do it. Farming :slight_smile:

4 Likes

Ray Network is among the most serious projects on the cardano blockchain and shows a very good track record with liquidity and volume. After just 1 week of token exchange to a new policy, the liquidity went up from zero to now more than 650k (still rising). The volume is among the Top 10. Absolute, no brainer IMHO!

6 Likes

RAY STRONG! Best project on CARDANO.

3 Likes

Quite a few of us have been associated with Ray Network for quite a while. We certainly look forward to our new associations with MinSwap and this farm would be a great welcoming to your environment. Thank you

4 Likes

Staked with their ISPO for many epochs and think they are great project. I support adding Ray to Minswap Yield Farming.

3 Likes

yes, one of the most serious and transparent projects on Cardano.

3 Likes

A serious project that distributed XRAY via a no fee ISPO to the Cardano community. Tons of future utility planned and working products used by 1000’s. Plus I think they plan to allocate a nice chunk of XRAY for a double farm.

2 Likes

RAY is a serious cardano project

3 Likes

For Sure. 100% XRAY and Ray Network movin up!

4 Likes

Let’s grow the Cardano eco together

3 Likes

Gr8 project
Awesome tech team
Transperancy at all levels
Fair token distribution
Overall a rare find

:100:

5 Likes

Solid project, honest, serious and open group of members/developers. Cardano minded and growing! Imho its worth it

5 Likes

Xray has been transparent and communicates with community via Discord and TG. This team is setting a great standard in team ethos. Please help support them.

2 Likes

I also want to add that the Ray Network supported Minswap in the last couple of months by distributing XRAY to XRAY/ADA liquidity providers of Minswap, which led to a very good liquidity and high volume. They helped Minswap at a time where TVL was low. Even now Ray Network wants to contribute 5 million XRAY to the farm - I think that this is a very generous move and should be acknowledged.

1 Like

I also really like the X RAY project and I’m looking forward to launching my exchange. But I would like to see the liquidity pool XRAY/MIN.

As of today (Nov. 23rd) the Pool ADA-XRAY is the 11th pool in terms of 7 Days Volume in the Minswap Platform. It only makes sense to try and retain this type of pools