RioDeFi Q1 2022 — Unlocking Milestones
Q1 2022 saw RioChain complete its first phase of Certik’s audit, finalization of RioCard’s standard operating procedures with Baanx, and RioWallet’s constant evolution to integrate multiple large-cap chains that will not only support coins and dapps, but as importantly, send, store and receive NFTs.
In Q1, RioChain passed the first phase of Audit by Certik. Based on the feedback, our development team is currently working on final updates to ensure the stability and security of RioChain’s upgraded mainnet and testnet.
On the RioChain testnet, we have been battle testing the upgraded RioChain Block Explorer and preparing for the integration of the new RioChain into RioWallet.
Migration to the upgraded RioChain will start once the final updates are completed in response to Certik’s audit, which we anticipate before the end of Q2. By then, we will be introducing a nodes and validators program, onboarding external developers to the RioChain Sandbox, and of course, on launch of mainnet, we will be delivering the much anticipated RFUEL native staking program.
RioWallet has been the cornerstone for users to enter the DeFi and Web3 ecosystems. In Q1, we focused on improving the utility of RioWallet through RioDeFi’s BSC Staking Pool that offers RFUEL stakers a minimum of 20% APY paid out in USDT. Our partnership with Poly Network also ensured a secure and cost-effective bridge for RFUEL swaps between ERC-20 and BEP-20.
Furthering RioWallet’s expansion of NFT features, we incorporated Ethereum and Binance Smart Chain into RioWallet. Users can now easily send, receive, and view their NFTs on both chains in RioWallet, saving the hassle and security risks of holding multiple wallets to manage NFTs on different chains.
In our latest update, we have integrated Solana Chain into RioWallet, now supporting 8 chains.
In Q2, RioWallet will integrate Fantom, Avalanche & Terra. It will also expand its Dapps support to Avalanche & Solana, giving users a simpler, more secure, and more user-friendly medium to access the Web3 world. On top of that, RioWallet will be the focal access point to our upcoming RioCard, a crypto debit card that is accepted by over 40 million merchants, which will be released by the end of Q3.
For RioCard, we have confirmed all operation details with Baanx, a global pioneer in payment-tech innovation, and 5,000 crypto debit cards have already been manufactured in Q1. We will announce the whitelist registration soon, so follow us on Twitter and Telegram to receive the latest updates!
In Q1, RioStox has obtained a highly valued digital security exchange license that will enable the regulated trading of financial instruments including cryptocurrencies, fractionalized NFTs & Security Token Offerings (STOs), Exchange-Traded Funds (ETFs), and tokenized real estate.
Following a successful penetration testing by Certik to validate the security of the RioStox exchange platform, we are finalizing its launch plans. As part of that, we’re actively exploring a new program with a crypto-friendly bank that will allow RioStox users to open bank accounts equipped with debit cards that are directly linked to their exchange accounts. This will allow people to easily convert all types of digital assets into cash for spending around the world.
Stay tuned as we become the world’s first licensed exchange to offer unique and highly demanded digital securities and fractionalized NFT products.