Topic: [ANN] Reflect.Finance - RFI | Frictionless Yield Generation. Hold and Earn. - page 2. (Read 986 times)
December 02, 2020, 07:43:03 AM
nice! good for the volume.
December 01, 2020, 03:00:51 PM
It's the day of integrations for RFI, it seems
source -> https://twitter.com/rgtglobal/status/1333852321655218181
source -> https://twitter.com/rgtglobal/status/1333852321655218181
December 01, 2020, 12:47:12 PM
source -> https://t.me/TheCannabisCommunity
A small but unexpected update on the first integration of RFI, more to follow:
A small but unexpected update on the first integration of RFI, more to follow:
December 01, 2020, 05:18:35 AM
Black hole is a "holder" too, there's just no known private key to recover the coins.
Ok, now it made sense, so the blackhole were considered as a holder that's entitled to a share, and the number of tokens burned (or sucked by blackhole, for the sake of the theme) that grew, were the result of compounding done by the said wallet.
December 01, 2020, 05:13:00 AM
So uhh, the scheme roughly goes like this: 1% of each transaction is set as a transaction fee, which 99% of them will be distributed to each token holders, and 1% of that (on other words, 1% of 1% of every transaction) will be burned. Thus, the burning rate is 0.01% of every transaction?
0.047% and growing
Ok, but the percentage of burned token were from the 1% transaction fee, right? Wouldn't that mean the more it grow, the less amount of token a holder will get?
The size of the black hole doesn't affect the amount of fees you receive for holding a fixed amount of coins. It only affects the amount of coins in circulation, that decreases after every trade or transaction.
If you hold 10,000 RFI it's always 0.1% of the total 10,000,000 RFI, so you will always receive 1 RFI for every 100,000 RFI that are traded or transfered.
Ofcourse your stake will grow too, compounding to it, but I didn't take that into account to keep it simple
I don't think I get the number for blackhole. The RFI distributed from the entire tx fee were divided proportionally to each holder according to the amount they hold, correct? If we may use easy number, let's say there were only 2 holders of RFI, 2,000 RFI and 8,000 RFI. So A will be entitled to 20% of stake and B, 80%. Suppose there were 100 RFI transferred or traded, this will brings us to a situation where A will be entitled to 20 RFI and B 80 RFI, am I correct this far? Where is the allocation for blackhole, then?
The black hole is a "holder" too, there's just no known private key to recover the coins.
December 01, 2020, 04:10:12 AM
So uhh, the scheme roughly goes like this: 1% of each transaction is set as a transaction fee, which 99% of them will be distributed to each token holders, and 1% of that (on other words, 1% of 1% of every transaction) will be burned. Thus, the burning rate is 0.01% of every transaction?
0.047% and growing
Ok, but the percentage of burned token were from the 1% transaction fee, right? Wouldn't that mean the more it grow, the less amount of token a holder will get?
The size of the black hole doesn't affect the amount of fees you receive for holding a fixed amount of coins. It only affects the amount of coins in circulation, that decreases after every trade or transaction.
If you hold 10,000 RFI it's always 0.1% of the total 10,000,000 RFI, so you will always receive 1 RFI for every 100,000 RFI that are traded or transfered.
Ofcourse your stake will grow too, compounding to it, but I didn't take that into account to keep it simple
I don't think I get the number for blackhole. The RFI distributed from the entire tx fee were divided proportionally to each holder according to the amount they hold, correct? If we may use easy number, let's say there were only 2 holders of RFI, 2,000 RFI and 8,000 RFI. So A will be entitled to 20% of stake and B, 80%. Suppose there were 100 RFI transferred or traded, this will brings us to a situation where A will be entitled to 20 RFI and B 80 RFI, am I correct this far? Where is the allocation for blackhole, then?
P.s.: ad yes, I agree, the graph shows a nice recovery
November 30, 2020, 06:41:07 AM
Nice recovery 
November 30, 2020, 02:25:30 AM
So uhh, the scheme roughly goes like this: 1% of each transaction is set as a transaction fee, which 99% of them will be distributed to each token holders, and 1% of that (on other words, 1% of 1% of every transaction) will be burned. Thus, the burning rate is 0.01% of every transaction?
0.047% and growing
Ok, but the percentage of burned token were from the 1% transaction fee, right? Wouldn't that mean the more it grow, the less amount of token a holder will get?
November 29, 2020, 03:25:07 PM
As DeFi participan people has many problems like price and market risk, trust related risk, security risk and others. Reflect (RFI) tried to find solution for each of this problem
What you said sounds interesting. I will keep an a eye on it. It looks like something that will come will come in hand for a lot of people. November 29, 2020, 07:35:23 AM
As DeFi participan people has many problems like price and market risk, trust related risk, security risk and others. Reflect (RFI) tried to find solution for each of this problem
November 29, 2020, 04:07:45 AM
The RFI black hole already holds over 471,000 RFI tokens and keeps expanding,
decreasing the total amount of 10,000,000 RFI in circulation with every transaction.
decreasing the total amount of 10,000,000 RFI in circulation with every transaction.
The rate of burn is now 1% of the transaction fees that are burned in a (472,000 / 10,000,000) ratio.
Fot the first week that was about 3,300 RFI tokens a day that are burned, but that has decreased for obvious reasons; more people are holding their stake.
The future is hard to predict; the black hole grows, holding a bigger stake it will eat up a bigger chunk of the fees.
But when price goes up, you can expect more but smaller transactions, so the burn may actually slow down.
Holding RFI has 2 advantages for a holder: receiving fees + deflation
So uhh, the scheme roughly goes like this: 1% of each transaction is set as a transaction fee, which 99% of them will be distributed to each token holders, and 1% of that (on other words, 1% of 1% of every transaction) will be burned. Thus, the burning rate is 0.01% of every transaction?
0.047% and growing
November 29, 2020, 01:40:16 AM
The RFI black hole already holds over 471,000 RFI tokens and keeps expanding,
decreasing the total amount of 10,000,000 RFI in circulation with every transaction.
decreasing the total amount of 10,000,000 RFI in circulation with every transaction.
The rate of burn is now 1% of the transaction fees that are burned in a (472,000 / 10,000,000) ratio.
Fot the first week that was about 3,300 RFI tokens a day that are burned, but that has decreased for obvious reasons; more people are holding their stake.
The future is hard to predict; the black hole grows, holding a bigger stake it will eat up a bigger chunk of the fees.
But when price goes up, you can expect more but smaller transactions, so the burn may actually slow down.
Holding RFI has 2 advantages for a holder: receiving fees + deflation
So uhh, the scheme roughly goes like this: 1% of each transaction is set as a transaction fee, which 99% of them will be distributed to each token holders, and 1% of that (on other words, 1% of 1% of every transaction) will be burned. Thus, the burning rate is 0.01% of every transaction?
November 28, 2020, 05:09:21 AM
The RFI black hole already holds over 471,000 RFI tokens and keeps expanding,
decreasing the total amount of 10,000,000 RFI in circulation with every transaction.
decreasing the total amount of 10,000,000 RFI in circulation with every transaction.
The rate of burn is now 1% of the transaction fees that are burned in a (472,000 / 10,000,000) ratio.
Fot the first week that was about 3,300 RFI tokens a day that are burned, but that has decreased for obvious reasons; more people are holding their stake.
The future is hard to predict; the black hole grows, holding a bigger stake it will eat up a bigger chunk of the fees.
But when price goes up, you can expect more but smaller transactions, so the burn may actually slow down.
Holding RFI has 2 advantages for a holder: receiving fees + deflation
I think the return (and so, the burn rate) for the past 2 days has dropped a bit. Less trades / volume. Price still steady in ETH.
Still crazy high return in fees. What my bank paid in 1 year when interest was high, I now receive in one week in RFI transaction fees.
November 27, 2020, 06:31:33 PM
The RFI black hole already holds over 471,000 RFI tokens and keeps expanding,
decreasing the total amount of 10,000,000 RFI in circulation with every transaction.
decreasing the total amount of 10,000,000 RFI in circulation with every transaction.
The rate of burn is now 1% of the transaction fees that are burned in a (472,000 / 10,000,000) ratio.
Fot the first week that was about 3,300 RFI tokens a day that are burned, but that has decreased for obvious reasons; more people are holding their stake.
The future is hard to predict; the black hole grows, holding a bigger stake it will eat up a bigger chunk of the fees.
But when price goes up, you can expect more but smaller transactions, so the burn may actually slow down.
Holding RFI has 2 advantages for a holder: receiving fees + deflation
I think the return (and so, the burn rate) for the past 2 days has dropped a bit. Less trades / volume. Price still steady in ETH.
Still crazy high return in fees. What my bank paid in 1 year when interest was high, I now receive in one week in RFI transaction fees.
November 27, 2020, 04:30:44 PM
The RFI black hole already holds over 471,000 RFI tokens and keeps expanding,
decreasing the total amount of 10,000,000 RFI in circulation with every transaction.
decreasing the total amount of 10,000,000 RFI in circulation with every transaction.
The rate of burn is now 1% of the transaction fees that are burned in a (472,000 / 10,000,000) ratio.
Fot the first week that was about 3,300 RFI tokens a day that are burned, but that has decreased for obvious reasons; more people are holding their stake.
The future is hard to predict; the black hole grows, holding a bigger stake it will eat up a bigger chunk of the fees.
But when price goes up, you can expect more but smaller transactions, so the burn may actually slow down.
Holding RFI has 2 advantages for a holder: receiving fees + deflation
November 27, 2020, 01:38:24 PM
The RFI black hole already holds over 471,000 RFI tokens and keeps expanding,
decreasing the total amount of 10,000,000 RFI in circulation with every transaction.
decreasing the total amount of 10,000,000 RFI in circulation with every transaction.
November 27, 2020, 10:19:27 AM
"No action needs to be taken on your part other than to hold RFI in a wallet you control" - I really like this part 
But how then we can earn money if we do nothing?
But how then we can earn money if we do nothing?The 1% transaction fees of RFI trades are divided over your stake of RFI in your wallet.
The smart contract makes sure you receive them instantly after every trade.
You don't have to stake or lock them, just holding them in your wallet is enough.
The smart contract works as long as Ethereum exists, nobody is controlling it.
November 27, 2020, 09:08:16 AM
"No action needs to be taken on your part other than to hold RFI in a wallet you control" - I really like this part But how then we can earn money if we do nothing?
But how then we can earn money if we do nothing? November 27, 2020, 05:52:25 AM
FOK! sent me.
FOK! forum has the greatest crypto community
Welcome!
We should convince Danny to make this the main FOK! token
November 27, 2020, 05:34:26 AM
FOK! sent me.
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