For this edition of Vestorportal.com Spotlight Huf (lead farmer) and AJ (project manager) were so kind to give us insights on what ReFi does, how the project operates and what it takes to be on top of the Farming-as-a-Service business. Enjoy!
What is Reimagined Finance (ReFi)?
ReFI is a Farming-as-a-Service platform on the Ethereum and Binance networks.
As the leader in FaaS (Farming-as-a-Service) in the crypto space we are the benchmark used to define the sector.
We are known for being a Safe Haven in the FaaS sector, having strong governance, an intelligent long term investor community. But what separates ReFi is the clear long-term vision combined with a professional and proven management team with pedigree.
How did the team come up with the idea of ReFi?
Through involvement in several other projects, we saw how short term and inward looking those projects were.
We realised if there was a true vision; bigger than just making money, and we could get a small high performing management group together; we could create something very special, different and for the long term. We believe in what we are doing and how it enables all types of investors.
Who are the core members of ReFi's team and what are their roles within the project?
• MATHDroid (Founder, Lead Developer)
• Huf (Lead Farmer)
• Marc (Associate Farmer)
• Abraxas (Chief Marketing Officer)
• Digital Dealer (Lead Strategist)
• AJ (Project Manager)
Why are your Farmers the perfect match for ReFi? What is their experience?
Their experience and pedigree in both traditional and crypto finance is very, very strong and has been proven in traditional and now in a bull and bear market. Our farmers not only have the experience but also the temperament and character to lead the biggest farming fund. Something that is core to our community’s belief and the sustainability through bull and bear markets.
Are there any specific strategies on how the Farmers deploy funds?
ReFi believes in diversifying risk across blockchains and DeFi protocols. The investment approach is to allocate funds across three different risk buckets.
Low risk budget (volatility <5%)
Medium risk budget (volatility 5-40%)
Higher risk budget (volatility >40%)
Most recently we have pivoted to a more defensive weighting as a bear market would need.
How does the decision-making regarding changes being made to ReFi look like?
We have numerous governance sign off procedures such Multi-Sig, Board & Community voting approvals for various decisions. The teams work very autonomously on the detail though for pace. All divisions are answerable 3 times a week to their areas and divisions. A lot of decision making is made through a simple lens of:
Does it build ReFi for our community for the long term? Does it have integrity in making this decision? This allows us to be quick, clear, and consistent in decision making.
How important is transparency for the team behind ReFi?
It is the most important thing among our team and our community. It is something we have prided ourselves on from the outset and continue ensure we hold ourselves to the best practice in the sector. We have made mistakes, as we should in a brand-new sector and pushing what can be; but transparency is as much as knowing and acknowledging your learning and constantly improving on that.
Why did you choose to build on Ethereum and to bridge to the BSC later on?
Volume and demand are on Ethereum. But BSC offers a lower transaction fee (i.e.: gas) to provide a cost-effective alternative for investors.
What do the tokenomics of ReFi look like?
ReFi charges a 12% tax on buy and sell transactions. While some other projects tax amount and tax structure is static, ReFi’s smart contract can change with the evolving markets. Recently, the community completed an on-chain vote to supercharge the treasury by adding all 12% of taxable transactions to the farm. Below is an example of what the tax structure was before the change.
Previous Tax Structure Example:
- 7.00% Treasury
- 5.00% Reflections
ReFi is constantly watching the market. As such we can be flexible. In the future, we will revisit the tax structure. Be sure to visit www.reimagined.fi to keep up with all the latest tax structure updates!
Looking at your requests for new features - Are you planning on implementing new tools/features in the near future?
Yes! We have and exciting roadmap ahead… Possibly game changing if you can believe that is possible after our first product. The process of listening to investors and the community has revealed another gap in the market. Where we can use our current platform to great effect, creating even more value for the ReFi community long term.
Are there any new products that ReFi will offer in the future?
Yes! Watch this space; we have a game changing development for the fund to move it into the next level of growth and size.
How would you describe the core values of ReFi?
In the unpredictable event of a contract hack, is there any insurance policy in place?
Not currently but as the fund grows, we are looking at nexus and insurance. For now, our maximum exposure in any one vault or contract is capped at 6% so maximise diversification across platforms.
Since you are not the only Farming-as-a-Service project out there - why should someone choose ReFi?
We were the first, the biggest, and have the strongest track record to date even in a bear market. Even through this we have shown a consistent commitment to our vision and ensured returns to our community throughout as best we can.
We believe in what we are doing and how it can genuinely help so many people in the future.
Now we have proofed the FaaS concept, we need the sector as whole, together, to perfect it and make it the future wealth creation option for anyone, anywhere with anything in their wallet; we genuinely think this access to crypto investment will change people’s financial worlds.
As a team member of a Farming-as-a-Service project, where do you see this sector going in the coming years?
We see this sector growing but also refining. To achieve a $1 billion market cap the sector will need to engage DAO’s on scale and that will require more transparency and governance. We have very exciting roadmap developments that answers this. They will be announced very shortly. We believe this evolution in FaaS could take the sector to another level.
How do you buy REFI?
- Learn how to setup a MetaMask wallet for Ethereum
- Learn how to setup a MetaMask wallet for Binance Smart Chain
- Learn how to use Uniswap
- Learn how to use PancakeSwap
How do you buy ETH or BNB?
If you do not want to use a centralized exchange you can use a decentralized exchange.