Money on Chain, the company behind one of the first bitcoin-collateralized DeFi protocols, has announced today the extension of its technology to the RIF ecosystem by releasing the RIF on Chain DeFi platform backed by RIF tokens and deployed on the RSK network. The RIF on Chain platform will consist of three main assets that interact with each other, and which have been developed to serve different purposes depending on the users needs:
- The RIF Dollar (RDOC): is a stablecoin pegged to the US Dollar and collateralized by RIF tokens that act as a hedge against volatility. Its main differentiator is the lack of requiring a Collateralized Debt Position (CDP) for acquiring RDOCs, as users can buy them directly in the platform with their RIF tokens.
- The RIFpro (RPRO): a token that mirrors the RIF token price volatility and is designed for those users who want to earn a passive income on their RIF tokens by collecting a share of the fees generated by the platform transactions.
- The RIFX: a leveraged asset for users who wish to get exposure to movements in the RIF token price.
The Money On Chain (MOC) DeFi protocol expects to increase the usage of its technology by adding large community tokens such as the RIF token, which continues to experience a steady growth in user numbers as new initiatives are launched across strategic markets, such as Asia and Latin America.
Money on Chain CEO Max Carjuza commented on the announcement:
"When we designed the Money On Chain protocol we did it thinking that the financial model could also be used with other collateral assets. We believe that RIF offers many new infrastructure services through the RSK network, and this will accelerate the adoption of DeFi for Bitcoin. We are very excited to be able to collaborate with this amazing project."
IOV Labs CEO Diego Gutierrez Zaldivar added:
"It’s thrilling to experience how quickly the DeFi ecosystem has been growing, launching more products and achieving broader adoption. We are excited that top DeFi technologies such as Money on Chain are choosing the RIF token and the RBTC blockchain to evolve and position their products in this high growth competitive environment."