What is Rigel Protocol | Understanding its ecosystem and latest products
In this blog, I have talked about a very interesting and innovative project named Rigel Protocol.
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We talk about a lot of projects around here, We understand their use case see through their partnerships and talk about their token and its tokenomics, Today, I have another project in mind that needs to be talked about they are doing amazing work and are bringing a change in the crypto space.
The name of the project is Rigel Protocol they also say “it’s a decentralized project for all our Defi needs”, Rigel Protocol enables cross-chain swapping without coin wrapping, order book or deposits which is built on Binance Smart Chain and Ethereum Blockchain which makes it more convenient, secure and faster. Rigel Protocol also has its native token named RGP, the RGP token holders will get high annual yield interest.
The project has strong fundamentals and is spreading widely, this is one of those projects where the earlier to get in the more it will be beneficial for you and your portfolio. Rigel Protocol has created some awesome products for the community, I have explained some of them below.
Rigel Protocol Platform has the following products:
- Smart Swapping
- Margin Trading
- Yield Farming
The decentralized SmartSwap of Rigel Protocol is a very good fundamental exchange with awesome features like cross-chain protocol, margin trading, and yield farming
What makes Rigel Protocol Different
- The Whole Rigel protocol project is community-driven it is completely designed, developed, and set up for the community, additionally all the decisions regarding development and decision making are in the hands of the community.
- The Rigel protocol cross-chain operations guarantee low transaction fees, Moreover, the funds are in the hands of the users and there is no need for KYC.
- The users will have full transparency and control over their funds while they are interacting with any of Rigel protocol’s products
Rigel Protocol Developments
So far Rigel Protocol has been able to complete a lot of milestones some of them are :
- Binance Smart Chain Reward Series
- Community Airdrop Release
- Token Contract Release
- Community Contest
- Ecosystem and features showcase
- Community adoption and Partnerships
- Refined Smart Swapping and Yield Farming
- Gift Dapp
Future Releases and Development
So far Rigel Protocol plans to release NFT rewarding, Future Exchange, Cross-chain and governance system, and one of the most hyped thing Decentralized gaming all of these are expected to release by the end of 2021 or by the first quarter of 2022. These are game changer features if they are implemented properly this could be very big for the project its community and investors.
Rigel Protocol Ongoing Events
1.Rigel Protocol & Bitforex Trading Competition
Rigel Protocol & Bitforex Trading Competition is going on with a prize pool of 30,000 $RGP to the top 20 traders. The trading volume is counted by the addition of total volume bought and sold during this event.
2.Rigel Protocol First Token Burning Event
After 6 months of the native token launch of the Rigel protocol has started its first token burning event, it has about 110,484 $RGP tokens on the Binance Smart Chain and around 10,163 $RGP on the Ethereum Chain which is about 12.2% of the total circulating supply on both the chains i.e, BSC and Ethereum, for those who don’t know what a burning event is here is a quick explanation, token burning is an event where the token from the total supply is taken and removed from the supply with making the token that much more rare, there are two types of token burning one where the tokens are taken from the unlocked supply and burned and the other one in which the tokens are bought from open market and burned.
3. Rigel Protocol Gift DApp Testnet
You can participate in the Rigel Protocol Gift DApp Testnet bounty program and get up to 500$RPG Tokens.
4. Special Staking Pool for $RGP
Rigel Protocol has announced a special pool for the whitelisted address. if your address also got whitelisted then you can enjoy this high privilege Staking pool.
Rigel Protocol has its native token named $RGP which has a Maximum Supply of 20 Million tokens with a circulating supply of over 1 million tokens. It has a market cap of over 200,000 USD and a fully diluted market cap of over a 3.7Million. The current price of the token is 0.1867 USD/RGP. The token is under a downward trajectory and is in the accumulation stage, I say this is the right time to get your hands on some tokens and hold them because as soon as the market turns back bullish good projects will start pumping and will give good return to its investors.
I would suggest while buying anything follow a proper plan which decreases the chances of losing money, so what you can do is you can do dollar-cost averaging and set buying bids after some intervals with lower the bid the more the buying.
I hope the blog was knowledgeable and you learned something new, I really enjoyed writing this blog you can share your view on the project and if there is any query you want to ask feel free to ask me here in the comments or on any of my socials