What is Raft Finance? Raft Finance is one of the next projects following the LSDfi trend that is currently exploding with many projects such as Agility, unshETH or Lybra Finance. So, if there is anything interesting about Raft Finance, let’s find out together in the article below.
To understand more about Raft Finance, you can refer to some of the following projects:
What is Raft Finance?
Overview of Raft Finance
Raft Finance is a Lending & Borrowing platform developed according to the classic CDP model with wstETH as collateral to mint stablecoin R.
Raft Finance aims for R to become one of the most stable and liquid stablecoins in the crypto market.
Raft Finance’s operating mechanism
Raft Finance’s operating mechanism is basically as follows:
- Step 1: Users can deposit ETH, stETH or wstETH. If a user deposits ETH, this amount of ETH will be brought to Lido Finance to be sent to receive stETH. For assets like stETH, it will be wrapped into wstETH. wstETH is the only collateral.
- Step 2: Mint users issue stablecoin R
- Step 3: Users can hold stablecoin R to provide liquidity and participate in DeFi on the ecosystem.
Besides, Raft Finance also provides the Falsh Mint product line which has many similarities with Flash Loan. The price keeping mechanism of stablecoin R is also relatively simple:
- If R > $1: User exchanges $1 wstETH for 1 R to dump on the market.
- If R < $1: Users will buy $1 R on the market and pay the protocol to get $1 wstETH.
Development Roadmap
Update…
Investor
Raft Finance is supported by many large investment funds such as Wintermute, Lemniscap, Jump, GSR Capital, Toma Hawk, Supernova,…
Core Team
Raft Finance’s development team is the same team that is developing a number of projects such as Nostra – All in One DeFi Platform on StarkNet and Tempus. Let’s take a look at the development team.
David Garai: Co Founder
- David pursued Law and successfully obtained a bachelor’s degree in Law at Manchester University.
- Before coming to Crypto, David worked as a Lawyer at Allen & Overy.
- After 2 years as a lawyer, David changed his career to work in financial derivatives at Linklaters.
- After that, David held a senior position at Interlay – a crypto project.
- Currently, David is building Nostra, Tempus and Raft Finance.
Đorđe Mijović: Co Founder
- Đorđe graduated with a Bachelor’s degree in Software Engineering from Belgrade University.
- Đorđe had a period of time working as a Software Engineer at InsideMaps In, Microsoft.
- By early 2020, Microsoft had just become acquainted with crypto when becoming a Software Engineer for Ethereum.
- In early 2021, Đorđe started building Nostra, Tempus and Raft Finance.
Exchanges
Update…
Project Information Channel
- Website: https://www.raft.fi/
- Docs: https://www.raft.fi/
- Discord:
Summary
Raft Finance is expected to become one of the notable projects in the LSDfi segment in the near future. Continue to follow Raft Finance to capture opportunities.
