# 💎 INTRODUCING REDEFI 💎

**Published by:** [GemPad](https://paragraph.com/@gempad/)
**Published on:** 2024-10-10
**URL:** https://paragraph.com/@gempad/introducing-redefi

## Content

PRESALE ON GEMPAD ReDeFi's presale is already live on GemPad! You can find it here: https://gempad.app/presale/0x1131A7d0Df14402A3D1E147BeB0af4999338f8ec?network=EthereumINTRODUCTION ReDeFi is a FMI (Financial Market Infrastructure) platform, built to improve the current monetary system, bridging TradFI and DeFi through a regulated environment and their innovative Onchain Money model. This tokenised deposit system mirrors fiat currencies on-chain, seamlessly integrating with existing banking systems via APIs on their existing infrastructure. ReDeFi has a Substrate Layer-1 blockchain powered by the BAX token and a Layer-2 sidechain powered by RED, which is purpose-built for privacy for B2B cross-border transactions, FX, remittances or any user that wishes to utilise a low-cost solution for sending/receiving fiat currencies on-chain. The goal is to create a transparent, secure and private - at the same time network - for banks, financial institutions and businesses connecting with ReDeFi's unique infrastructure and products while not breaking the singleness of money principle. VALUE PROPOSITION ReDeFi paves the way for a new era, ‘’banks on chain.’’ The current monetary system is limited to old technologies, costly operations, and slow speed when it comes to any kind of transaction. The current crypto system with stablecoins, while convenient, is also troublesome as regulations differ in each side of the world, and a user needs to perform a series of operations and transactions to get fiat in his bank. ReDeFi's unique value proposition centres around the Onchain Money model, offering sustainability, regulatory compliance, and the gradual transformation of the financial industry. Rather than solely relying on speculative demand, RED will be the main utility token for the ReDeFi L2 blockchain. PHASE 1: THE INFRASTRUCTURE This phase involves the launch of ReDeFi's Layer-1 (launched) and Layer-2 blockchains (V1 launched, working on v2 privacy feature for Onchain Money), establishing the infrastructure for a regulated, decentralised financial ecosystem. The $RED token will be integrated into core functions for L2 specifically, including transaction fees and network validation, creating immediate utility and driving organic demand. This phase also includes launching a native bridge between L1 <> L2 and an EVM bridge Ethereum <> ReDeFi L1/L2, ensuring cross-chain compatibility and expanding the potential reach of the network. PHASE 2: ONCHAIN MONEY Onchain Money is a tokenised deposit system mirroring fiat currencies on-chain. The first Onchain GBP will launch during Q3 2024. In addition, the first real-world use case will be Clearbank, a regulated bank in the UK, testing and integrating Onchain GBP into its existing infrastructure. PHASE 3: PROGRESS AND EXPANSION Phase 3 focuses on strengthening the ReDeFi ecosystem. This includes the release of their own DEX (FX Swap Protocol), a self-custody wallet and the RDNFS (a decentralised naming system). During 2025, the team will be introducing on-chain governance, allowing BAX (layer-1) & RED (layer-2) holders to actively participate in decision-making and shaping the future of ReDeFi. Additionally, liquidity options will be expanded, and the network will move towards a permissionless model for validator nodes, further decentralising the platform. The introduction of more Onchain Money currencies will also open up new markets (Onchain EUR, Onchain USD) and growth opportunities. REDEFI PROTOCOL REVENUE STREAMS0.5% on every Swap0.1% from On & Off-Ramp transactions0.1% on every bridge transactionAPI integration fees (from connected banks and financial institutions)REVNUE STREAMS FOR TOKEN HOLDERSA share of transaction and network performance feesAPI integration fees from connected banks and financial institutionsStaking rewardsNominator rewards (from delegating RED to a validator set)TOKENOMICS $RED is the primary token of the ReDeFi L2 sidechain. Every transaction or dApp interaction on their network will use $RED as payment. This compensates validators who secure the network and ensure transactions are processed and recorded. Supply Distribution 1.5% Private Sale 3% Main Sale 5% Launchpad 5% Airdrops 10% Team 12% Liquidity Providers 12.5% Staking 25% Treasury 26% Community & Ecosystem Telegram: https://t.me/getbabb_official X: https://x.com/ReDeFi_World Website: https://redefi.world/

## Publication Information

- [GemPad](https://paragraph.com/@gempad/): Publication homepage
- [All Posts](https://paragraph.com/@gempad/): More posts from this publication
- [RSS Feed](https://api.paragraph.com/blogs/rss/@gempad): Subscribe to updates