PART ONE — Empowering DeFi Across Blockchain Protocols Through Burn-and-Mint Equilibrium
An overview of RiveX’s Burn-and-Mint Equilibrium, allowing for better liquidity and DeFi across a dual ecosystem — Wanchain and Ethereum!
What is Burn-and-Mint Equilibrium? Burn-and-Mint Equilibrium is a one-way bridge from WRC20-RVX token standards to ERC20-RVX token standards. A portion of the WRC20-RVX token supply will be burned and then minted on the Ethereum blockchain as ERC20-RVX. Kindly take note that RiveX token supply will not be affected at all and it will remain the same. Although this may sound complicated at first, it is actually very straightforward, please read more below!
**PLEASE NOTE: BITMAX AND WRDEX WILL ONLY SUPPORT WRC20 BASED RVX TOKENS.**
Why Burn-and-Mint? In order to enable DeFi in a dual ecosystem on Wanchain and Ethereum, RiveX will be burning the 3.75% WRC20-RVX from the private sales token allocation and then minting the equivalent 3.75% as ERC20-RVX as part of RiveX DeFi solutions and initiatives on Ethereum. By doing this, RiveX DeFi solutions and initiatives will happen on both WRC20 and ERC20 based RVX. The whole RiveX DeFi ecosystem will then be kickstarted instantly with an already existing RiveX community on Ethereum instead of building an entirely new community from scratch. This Burn-and-Mint Equilibrium bridge will also give the opportunity to other exchanges, that currently do not support the WRC20 integration of RVX among their trading pairs and to provide better liquidity for the RVX ecosystem in general. **PLEASE NOTE: BITMAX AND WRDEX WILL ONLY SUPPORT WRC20 BASED RVX TOKENS.**
RiveX Token Metrics Please refer below for the new token metrics, there is no change to the current total supply. The private sales release schedule for RVX which is based on ERC20 has not changed and it is as per the release schedule which is released on the first day of the third month upon listing on BitMax — (25%/15%/15%/15%/15%/15%) of 150,000,000 RVX
Stay tuned for PART TWO of the article as we have a revised version of the token metrics and also a graph for RVX token releases!! It involves some additional burning mechanisms which everyone in the community has been anticipating! ❤