Rabbit Finance AMA Transcript

Sheer Leveraged Yield Farming Pleasure

By
BSCNews
on
June 18, 2021
Category:
AMA

Andrew:

So to start things off...


1. Can you tell me what Rabbit Finance is and what are you contributing to the BSC ecosystem?


Rabbit Finance:

Sure, Rabbit Finance is a cross-chain excess lending protocol

we help deposit users obtain more interest, and help liquidity farmers obtain higher income through high as 9x leverage and optimized reinvestment strategy.

Rabbit Finance is invested by 11 top tier capitals and fund of exchanges

led by FBG Capital, Horizon Capital, PCoin Labs, Redline Capital, AngelONE Capital, LBank, BKEX Capital, HBTC Labs, Hot Labs Du Capital and Bibox.

Andrew:

How do you make it possible for farmers to obtain such high interest?

Rabbit Finance will never DM you first:

our liquidity farm can be leveraged and we have optimized reinvestment strategy

Andrew:

Ah I see, good news for anyone trying to make money then! haha


2. Tell me more about your native token, is it inflationary? And how is it utilized on your platform?


Rabbit Finance :

RABBIT is a governance token of Rabbit Finance.

It will also capture the economic benefits of the protocol.

The total supply will be a maximum of 203,000,000 RABBIT tokens.

RABBIT can be used for mainly several directions

Protocol Governance

We will soon launch a governance vault that will allow community members to stake their RABBIT token. The RABBIT staker will receive xRABBIT where 1 xRABBIT = 1 vote, allowing them to decide on key governance decisionsIn the initial phase, governance decisions will be made on Snapshot.

Obtaining economic benefits such as interest rates and farming income

Lenders can obtain interest returns and RABBIT rewards through deposits, and farmers can obtain up to 10x of farming income and RABBIT rewards by opening leveraged positions.

Increase in the value of RABBIT brought about by continued repurchase and deflation

Rabbit Finance will continue to invest platform revenue for RABBIT repurchase and destruction, which will achieve a deflation of the supply of RABBIT and allow participants to share the benefits of platform growth.

Andrew:

Oh okay I see so RABBIT is mainly used as a governance token

so this leads me into my next question which is


3. I see that you have another token coming soon, can you tell me more about that?


Rabbit Finance:

Yes, CARROT will launch 08:00 UTC 18th June

it is an elastic stablecoin 1:1 pegged to BUSD

It upgraded the algorithm of AMPL in many ways

RABBIT holders can stake RABBIT to the Boardroom to get CARROT Inflation Reward. 50% of the reinvestment income of Rabbit Finance is used to ensure that CARROT/BUSD-LP has sufficient liquidity.

The initial supply of CARROT is elastic according to the market.The initial circulation of CARROT is 1000, the 1000 CARROT+ 1000 BUSD LP is added to the initial liquidity pool. The CARROT/BUSD-LP will be transact into the blackhole address for destruction.

And iwould like to introduce the Elastic Supply Mechanism of CARROT

The time of Rebase of the Boardroom is 0 AM (UTC), the supply of CARROT will be adjusted according to the price of CARROT/BUSD LP.

If the 24-hour weighted average price of CARROT and BUSD is lower than 1:1, CARROT will be burnt globally according to the algorithm, and the conversion ratio after burning will be 1:1.

When the 24-hour weighted average price of CARROT and BUSD is higher than 1:1, CARROT will carry out targeted inflation according to the algorithm.

Andrew:

Wow thank you for that answer

So what is the use of a dual token system on your platform? Why did you find it necessary to have a governance token and an elastic stablecoin, would you have been able to combgine the two?

Rabbit Finance:

RABBIT is the governance token of Rabbit Finance, and CARROT is an elastic stablecoin 1:1 pegged to BUSD, it's a  different phase in our product design, functional wise they are different. we don't want to confuse our user on this.

Andrew:

Understood


4. Can you explain more about what your liquidation feature is?


Rabbit Finance:

Yes, as you have seen, a number of projects on the BSC have been attacked recently. Users were concerned about it.

We use liquidation design to prevent flash loan attack,

Here is how it works,

1. The liquidation mechanism adopts DEX+CEX double price verification, only when the error is within 5% before liquidation will be executed.

2. We use a liquidation bot instead of a bounty hunter, to prevent attackers from obtaining liquidation benefits through flash loan.

And some more protection designs we are using,

Two price verifications (with an interval of 2 minutes), to prevent attackers from profiting by price manipulation in the same block through flash loan.

Maximum limit for borrowing, which reduces the factor of opening a position and exploding the position, and the safety design is more conservative than similar products.

Andrew:

That's awesome, glad to see a unique feature added to ensure the security of user's funds

Rabbit Finance:

yes, asset safety for users is our 1st priority

Andrew:

Great


5. What is the difference between staking, farming and using a vault on your platform?


Rabbit Finance:

Rabbit Finance allows users to earn income on your base assets by depositing them into our vault, these assets are then offered to yield farmers for leveraging up their positions. You will get a lending reward for doing this.

And you will receive an ibToken when you deposit successfully. For example you will receive ibBNB if you deposited BNB, or ibBUSD if you deposited BUSD.

Then you can stake your ibToken on the “Stake” page to get staking reward, paid with RABBIT.We offer many staking opportunities to participants that contribute to the growth of our ecosystem.

These opportunities will change from time-to-time. For now though, we have 16 staking opportunities for users.

For lenders, Lending reward + Staking reward = Total reward

And about farms, you can open leveraged yield farming positions here. You may supply any combination of the two assets in the farming pair.

Our smart contract optimally converts your deposited assets and the borrowed assets to get an equal value-split to supply the farming liquidity pool.

Each pool has a distinct maximum leverage level. When the user has very limited funds but wants to participate in DeFi liquidity farming,

Rabbit Finance can provide up to 10X leverage to help users obtain the maximum revenue per unit time, at the same time providing a borrowing pool for users who prefer stable returns to earn profits.

And 1 more thing I would like to mention is our strategy. ‘Coz we believe, an excellent strategy guarantees a higher rate of return.

On MDEX we reinvest the MDX obtained by the user farmed to the MDEX Boardroom.

Reinvestment strategy on Pancake is, to sell the CAKE obtained by users, continuously add liquidity LP to users positions.

And our web page shows the APY for daily reinvestment, but our actual reinvestment frequency is every 1 hour, so the actual APY will be slightly higher than displayed.

Andrew:

Wow that is awesome! So your project found many ways to reward users with your staking mechanisms as well as contributing to higher leverages !

Rabbit Finance:

yes absolutely

Andrew:

Was this strategy developed by you?

Rabbit Finance:

we have a strong dev team, i was also involved in the product design, but can not say i developed all these😉

Andrew:

Haha gotcha, well that is a very innovative team you have behind you


6. What is the Boardroom feature?


Rabbit Finance:

yes sure

Boardroom is designed for the RABBIT holders, now they can stake RABBIT to the Boardroom to get CARROT Inflation Reward.It will launch also within 12 hours.

which is here

Andrew:

Ah I see, another staking feature! haha


7. Is your project audited and if so by who?


Rabbit Finance will never DM you first:

Rabbit Finance has been audited by Certik and Chains Guard, double checked.

The reports are here,

CertiK

Chains Guard

Andrew:

Wow two audits, did this take a long time?

Rabbit Finance:

yes, and those 2 not coming out took a longer time i would say😉

Andrew:

haha I see


8. Can you tell me about your partnerships?


Rabbit Finance:

Of course, Rabbit Finance is the only in-depth partner of MDEX on BSC, which is an excess lending protocol with leveraged farming function.

and our cooperation partners are increasing every week, such as Venus, BitKeep, HyperPay, MathWallet, NULS.io, DERI.finance, DAPP.com, DappRadar.com and so on.

Andrew:

Awesome some very solid partners

So last but not least


9. Any exciting news you would like to share with us today?


Rabbit Finance: 

As you know, Rabbit Finance is an exceeding lending protocol. The main mission of a lending platform is to continuously improve the utilization of vault.

We will continuously increase the application scenarios of borrowing. Leverage farming is one of the high-frequency scenarios in the DeFi application. And we will add the following loan application scenarios as planned.

1,Leveraged trading function of Tokens

Users can use leveraged loans from Vault to trade tokens, earning long or short profits, thereby increasing the real demand for borrowing, rise the utilization of deposits, which rise profit.‌

2,Mortgage loan of ibTokens

Currently users can only borrow excess loans. We will support users to mortgage interest-bearing token and borrow other tokens in a later version.‌

3,Launch of CARROT as i have already talked about 

4,Joint issue NFT assets with well-known IP

In addition to the value of the IP itself, the value of Rabbit Finance's NFT assets can also enjoy the right to accelerate RABBIT farming. For more details, we will announce later.

5,Cross-chain lending

We will start the cross-chain project at a certain time, and our first cross-chain version will be on HECO.

Andrew:

Thank you for that answer!

Can you drop your social media accounts so that everyone here can go give it a follow?

Rabbit Finance:

Yes, please allow me to post some related links of our project, welcome to join our Telegram channel and group. Thank you!

Dapp:

Docs:

Twitter:

Discord:

Telegram Announcements:

Telegram English:

Telegram Chinese:

Github:

thank you Andrew, thank you BSC news Community

Andrew: 

Thank you for joining us today and goodluck on your further developments of your project! Have a great day everyone :)





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