BlockTalks x Rikkei Finance AMA Transcript!

We recently hosted an AMA with Rikkei Finance, on February 22nd at 1 PM UTC. Many of you might have participated or many of not. But we make sure no one missed out from the knowledge shared by Ngan Chu, CMO at Rikkei Finance. So here we are up with the AMA transcript, for those who missed the live session, this blog post will be a saver & feeder of knowledge for them.

Introduction Questions Asked By Team BlockTalks!

Q1. Can you share with our community about your background and the team behind the project?

Ans — I am the CMO of Rikkei Finance who takes responsibility for all marketing activities of the project and also connect with other partners for partnership.

I'll share with you more about our team:
Hoa (CEO) is a seasoned expert in the DeFi space with years of experience innovating and advising on numerous projects. He is a co-founder of Rikkeisoft with a B.S from Ritsumeikan University. Hoa is the CEO of Rikkei Finance, where he is devising strategies and leading innovation on the best ways to revolutionize the decentralized finance space, bridge the education gap, and democratize access for the community.

Tung holds the CTO role, where he is responsible for all the tech parts of the company. He possesses a demonstrated history of working in the information technology and services industry. He leverages his tech knowledge to ensure that all products and services are adequately optimized for the marketplace and the consumers’ interests. He is an information technology expert with a Ph.D. in Computer Science from Nanyang Technological University.

Duc is the CFO of Rikkei Finance. He works on the company’s finances and is responsible for ensuring all accounts are adequate. Duc is a former quantitative researcher at Keebeck Alpha Nanyang Technological University, Singapore. He has a huge passion for building a sustainable lending protocol, which motivated him to keep his mind on RiFi’s business model and develop RiFi’s protocol with high-standard risk management that enhances users’ experience and encourages greater participants.

Q2. Can you provide us with a brief description about Rikkei Finance and RIFI United?

Ans — Absolutely! I'm so pleased to share with you guys about Rikkei Finance and Rifi United!

1. Rikkei Finance is a Metaverse DeFi Protocol, enabling a Safe and Secure Open Lending with core features: Cross-chain support, NFTs lending, and Liquidation coverage.

It utilizes blockchain tech that enables cross-chain integration, meaning it can accept digital assets that operate on any blockchain network and render it at an equivalent rate, making them a real-time currency exchange network.

Rikkei Finance successfully raised the initial funding of $5.6M to build the lending protocol:

2. RIFI United, a product of Rikkei Finance, is nurtured with the aim of allowing users to utilize RIFI future cross-staking and cross-NFT programs, as well as expedite NFT lending feature. The product is a stepping-stone for RIFI to accomplish our mission to bring competitive advantages to users. RIFI United is a soccer manager simulator, built with a unique game depth to provide lasting enjoyment for players. It is a metaverse football NFT game, where you can satisfy your passion for the football field and earn a lot of money by becoming the manager of a football club, owning lands, players, staff, stadium and lots of different items, from the regular to the legendary NFTs. The core of RIFI United is a vast and complicated match calculation system that provides perfect realism and the proper level of competitiveness among Premier League supporters. You can read more about the game here: "

Q3. Can you also share what is the utilities of $RIFI ? Please also share and briefly explain your tokenomics. We’re so excited to learn more!

Ans — About the token utility, our native token $RIFI performs a vital role in the functioning of the Rikkei Finance ecosystem. The RIFI token is expected to have some utilities as follows:

Payment: As the native platform currency, RIFI would be used by users to pay for all fees on the platform and insurance fees/premiums

Governance: RIFI would allow holders to propose, debate and vote on governance proposals to determine features and/or parameters of the Rikkei Finance platform as well as protocol improvements, with voting weight calculated in proportion to the tokens staked

Reward: In order to promote users to provide liquidity and stake their digital assets into the lending pools for borrowers to utilise, liquidity providers would be rewarded with RIFI tokens according to each user’s relative contribution after various adjustment and correction parameters.

About our tokenomics, please visit our website to have a more clear concept of RIFI’s tokenomics: "

Questions Asked on Twitter for Rikkei Finance Team!!

Q1. What is the greatest advantage that your project has and that will make you a leader in the market?

Ans — Although there are big competitors in the field, we believe that there're plenty of room for improvement and we can still contribute a lot for not only the protocol but also the community, which motivate us to come up with our key features for Rikkei Finance:

1. A Well-structured Metaverse DeFi Protocol
Under Rikkei Finance Planet, there are 5 main zones: Sport & Recreation Center, Farming Zone, NFT Marketplace, RiWork and Governance, DAO & Lending. All will eventually support the development of Rikkei Finance's core product - LENDING.

2. Solving NFT illiquidity with NFT Marketplace
Rikkei Finance NFT Marketplace provides high liquidity and a wide range of NFTs at an affordable price, fostering the NFT collateralization of Rikkei Finance Lending Protocol.

3. A Safe and Secure Lending Protocol
Rikkei Finance Lending Protocol applies multiple methods to ensure system sustainability, including: applying an improved Multi-kinked interest rate model, employing 5-phase asset selection process, which will eliminate the risk of price corrections and market manipulation, allowing RIFI system to sustainably respond to any market situations.

4. Community-centred
Rikkei Finance is a secure metaverse that will be user-centric, allowing RIFI holders to vote on system policy through the Rikkei Finance DAO. Furthermore, the benefits of users are of the utmost importance in the Rikkei Finance protocol. To ensure users get the best returns, a safe positive-yield interest rate model is used. Rikkei Finance users will have access to the first-ever liquidation coverage, which will protect them from smart contract hacks and asset liquidation.

5. Farming with Great Returns
A variety of investing methods is available for Rikkei Finance users, including LP Farming, NFT Farming and Boost Farming, which allows you to stake RIFI or dually stake RIFI & NFT and earn huge APY.

Q2. Hackers are very active in the market and almost everyday we hear about another hack attack. Can you please give some information about the security system of project? How safe are the funds of investors? Does already have an audit?

Ans — It's true that lately there's many attacks in various sizes targeting different DeFi protocols on BSC. They exploit different weaknesses of the protocols, normally including (1) Bugs in source code; (2) manipulating token price and (3) bad risk management control model. For RiFi, we apply multiple methods to ensure the security of the system:

- Multi-kinked Interest rate model: Instead of applying the traditional simple linear interest rate model, RiFi uses the Multi-kinked model. The strength of the multi-kinked model is that it can handle the stress point of high utilization rate (Ut). At that point, borrowing demand is significantly high and all users borrow at the maximum. As a result, if the market witnesses a significant price correction, it will create a mass liquidation effect, directly reducing the liquidity of the protocol and making the system unsustainable. RiFi's approach is to increase the borrow interest rate considerably to reduce risk and limit borrowing at this time.

- Transparent 5-phase asset selection process. Through this process, assets will be evaluated using a self-developed Liquidity Ranking System, ensuring that only the most liquid assets are allocated to the pool, minimizing the risk of market manipulation and thereby ensuring system sustainability.

- Risk management model. Our system sustainability is ensured by controlling the collateral factor closely, setting limit for one-time withdrawal; freezing the supply/borrow when there is an attack; and employing complex price oracle. This allows our system to sustainably respond to any market situations.

- RIFI Vaults were verified and auditted by Hacken, which is a leading cybersecurity consulting company with an essential focus on blockchain security. For the full report, you can find at:

Q3. Rikkei has a Unique "double-threshold" lending interest rate model. So how does this model work, what kinds of functions does this model perform, and what are the expected benefits that this model will bring to the market and investors.

Ans — Before answering this question, I wanna share with you guys a piece of news about our lending product. So our RIFI Lending Mainnet is coming very soon, which is on Feb 24, 2022. To kick-off this event, we also offered the community the first airdrop with the total prize of $9000 RIFI. More info about the event can be found at

Now, lemme clarify the question and explain to y’all how the interest rate model works. Basically, in lending protocol, the borrow interest rate is calculated based on the utilisation (ratio between supply and demand). For example, Compound is using linear borrow interest rate model.

So when the demand increases (more people borrow from the pool), the borrow interest rate will go up linearly. There’s nothing wrong with the linear interest rate model, however there are couple of points along the line you need to pay attention to, to make sure that your system are safe
(1) At the stress point, when everyone is borrowing at max capacity. If there’s big price correction (flash dip) in the market, everyone got liquidated and you can just simply go bankrupt. That why’s at this point (Ut) we expotentially increase the borrow rate.

(2) at the lowpoint, when noone want to borrow anything. We find the way to lower the borrow rate without trading off the supply rate.

At low point, users get more benefits, at high point, the protocol is so much safer. So win-win for both parties. Therefore, instead of the traditional linear model, we apply the Multi-Kinked interest rate model, which tackles 2 key points that traditional model does not address: one to make borrowing less cost prohibitive during periods of low utilization, and another to boost liquidity providing incentives during periods of high utilization.

Q4. What is the most ambitious goal of your project? Could share with us any Upcoming Updates?

Ans — For now, we are ready conquer new milestones together with all Rificians. We aim to become a protocol-owned liquidity platform in the shape of a DAO-governed metaverse, and our vision is to build a cross-chain metaverse, allowing easy cash flow from a wide range of blockchain networks whether it is BSC, Polygon, Solana etc.

About the upcoming milestones, as mentioned in the previous question, we are going to launch the lending mainnet on February 24th, with an on-going airdrop event closing on Feb 28. Welcome to join the event by going through this article:

Furthermore, about the game RIFI United, we will also release the Beta version in the early March. Also, March 2022 will experience our RIFI Lending Aggregator as well as the RIFI United in-game Financial Model introducing.

Plan for the whole 2022 year can be found at:

Q5. Well from what i read on today ama, Rikkei Finance really a great project, may i know how are the way if i want to purchase Rikkei Finance token? Any info regarding presale or public sale your token?

Ans — IDO for our native token $RIFI already closed at the end of Nov.

For now, you have 2 options to purchase $RIFI:
1. Buy $RIFI at Huobi Primelist:
2. Buy $RIFI at PancakeSwap:

Here are some important links of Rikkei Finance👇🏻

⦿ Website ⦿ Twitter ⦿ Telegram ⦿ Blog



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BlockTalks is all about Blockchains & Crypto. We do discussions about new Blockchain projects, the innovations & such more.