Ripae’s Brand New Innovative Dual Share Bank Model
-Hello and welcome to a new episode of Ripae innovation, what can I do for you today?
-You can evolve the Bank system into a new and innovative way of handling multiple tokens and give back to its users!
Not only are we expanding our multi-chain approach to algorithmic peg tokens to Cronos, but we are also at the same time releasing a new Bank system, a system that brings value to both old and new users.
Dude, get to the point!
Ripae’s new Dual Bank system works a lot like the old Bank system but with a twist, the introduction of a new token $sCRO, which does not replace our share token $PAE, but compliments it, even building upon each other to make both, and in turn the full Ripae ecosystem better.
$sCRO Bank: https://cro.ripae.finance/bank
$PAE Bank: https://cro.ripae.finance/bankPae
$PAE is our multichain token with a fixed supply across all our deployed chains. An increase in value of $PAE increases the value of the whole ecosystem that Ripae builds upon. In our deployment of Cronos, we listened to the community and didn’t deploy $PAE there, but instead made it possible using our partner Multichain to transfer $PAE earned or bought on our other chains directly into Cronos.
$sCRO on the other hand was specifically built for the Cronos ecosystem in which the only way to earn $sCRO is to stake either $pCRO LP or $sCRO LP into our Cronos Tellers. $sCRO has a max supply on the Cronos chain, with emission for 4 years with a halving every 6 months (emission lowered) to make it more scarce than ever before!
Currently the process to optimize the system is to stake $pCRO-$CRO LP to earn $sCRO. Then LP those earned $sCRO into $sCRO-CRO to earn $sCRO. Either LP those $sCRO again or stake in our $sCRO Bank.
While the TWAP of $pCRO is greater than 1.01 $CRO, the Bank will print new $pCRO tokens to anyone that is staked into our Banks. The cool thing here is that as a $PAE user, you can transfer your $PAE into Cronos using Multichain, stake in the Bank, and still earn $pCRO that then can be added into $pCRO-$CRO LP to earn Cronos specific $sCRO.
Do you see how everything now comes together? Ripae’s new Dual Bank system both supports the Cronos local implementation of Ripae while still rewarding users of all our other chains. So what you can do is be creative with this new and unique way of strategising, a new way that hasn’t ever been done before!!! Yes, you read that right, Ripae is the first to have a cross-chain system with a Dual Bank interacting with each other.
Ripae continues to work with the Ripae community to come up with a new and unique twist to DeFi and build something that hasn’t been seen before. The future is now old man, get used to it!
Don’t be afraid to join our community and take part in the discussions, join our Discord: https://discord.gg/ripae
We are Ripae Finance, a cross-chain algorithmic peg token pegged to each native chain we are deployed on. An Algorithmic Peg Token(APT) is a non-collateralized peg token tailored for improving price stability. The beauty of algorithmic peg tokens is that they are much more capital efficient than their collateralized cousins. Ripae finance will with its experienced teamwork, work towards expanding this idea of capital-efficient algorithmic peg tokens and build on previous iterations to expand the basis of the ecosystem.
Ripae Finance’s full focus is to build a true cross-chain algorithmic peg token protocol that is innovating around the DeFi Ecosystem. Ripae is a DAO which means that the holders of $PAE are also the owners of the protocol and move the protocol forward with decentralized voting.
We started on Fantom and with the partnership of Multichain.org, our main token $PAE is now available on Fantom, Avalanche, Binance Smart Chain, Cronos, Polygon, and Abritrum.