The $RIU Ecosystem : purpose-driven revenue generation.
Abstract
Redemption Inu is a digitally-scarce utility token, designed for deployment on the Sonic Blockchain.
It will be airdropped to both individuals impacted by the 2023 Multichain hack on the FTM chain as well as the broader $RIU Community.
Conceived by a team of seasoned developers and DeFi users, Redemption Inu combines Utility and Public Good elements in its design.
Our goal is clear: to create a highly deflationary utility token, backed by real revenue generation and by an efficient and diversified Treasury.
And all while maintaining a strong public good philosophy.
Vision
The Multichain Collapse and the birth of $RIU/Redemption Inu
On May 21, 2023, the CEO of the centralized cross-chain bridge Multichain, Zhaojun-He, was detained by Chinese police as part of a large-scale crackdown on blockchain companies in the country.
On July 6, 2023, users' assets stored on Multichain were mysteriously transferred to unknown addresses without their consent and subsequently withdrawn. This incident caused over $125 million worth of assets on the FTM chain to lose their peg, resulting in significant losses for users, protocols, and the FTM chain ecosystem itself.
Our project was born with a clear and ambitious mission: to compensate the victims of the Multichain hack on the FTM chain and to create a sustainable ecosystem that blends public good, gamification, and utility. All of this is encapsulated in the form of a Utility Token deployed on the Sonic chain: $RIU / Redemption Inu.
Our team comprises developers, industry veterans, and blockchain enthusiasts, many of whom were personally affected by the Multichain collapse.
We believe in decentralized finance that is not only innovative but also responsible and inclusive. Our project aims to set a precedent for using blockchain as a tool to address financial injustices, delivering value to all participants through redistribution mechanisms and sustainable incentives.
Launch Tokenomics
Token Supply and Distribution Plan
The total supply of $RIU tokens is permanently capped at 1,000,000,000.
The initial airdrop allocation will be divided into two phases, and the overall distribution will be as follows:
25% of the supply will be allocated to wallets affected by the Multichain hack on the Fantom chain.
A snapshot was taken of all wallets holding multichain-wrapped assets before the incident (Timestamp: July 6, 2023 04:21:18 PM UTC, FTM Block Height: 65222413).
After 3 months, $RIU Tokens unclaimed during Phase 1 will be re-allocated in the following way:
50% burned
50% allocated to Airdrop Phase 2.
25% of the supply will be allocated to the broader $RIU community in the months following the end of Phase 1
Full details will be published in our Whitepaper v2 but we will keep community engagement with our content and product line in very high regard.
The remaining supply will be distributed as follows :
- 10% for liquidity
- 10% for public good (locked until the project reaches a significant market cap and dedicated exclusively to charity initiatives)
- 10% for listings
- 10% for development and marketing (to support project growth)
- 10% for the team (10-month linear vesting)
Revenue Streams
Deflationary Tokenomics and Reward Generation
Every $RIU buy or sell transaction will initially incur a 5% tax, which may be adjusted in the future but will never be increased. These tax proceeds will fund the $RIU Tax Pool, designed to create the most efficient and holder-centric Treasury on the sonic Blockchain.
$RIU Tax Pool Allocation
1. Growth Fund (70%)
- Allocation: 70% of the Tax Pool revenue will be directed to a combination of DeFi and TradFi opportunities, with an initial focus on the Sonic ecosystem.
- Expansion: Partnerships in RealFi and Real World Assets (RWA) will also be pursued using our network connections. More on this in the next weeks.
- Deflationary Impact: Rewards generated from these investments will be used to buy back $RIU tokens from the market and burn them.
The primary goal of the Buy-Back Fund is to ensure that the $RIU ecosystem is backed by real intrinsic value and positioned for long-term sustainability. Regardless of external factors.
2. Raffle Vault (10%)
- Allocation: 10% of the Tax Pool revenue will fund the Raffle Vault , adding a gamified layer to the ecosystem.
- Reward System: Holders are selected for rewards based on our point system and the amount of $RIU tokens they hold.
- Engagement: The more $RIU a holder owns or the more points they accumulate, the greater their chances of earning rewards.
The primary goal of the Buy-Back Fund is to ensure that the $RIU ecosystem is backed by real intrinsic value and positioned for long-term sustainability. Regardless of external factors.
3. Public Good Fund (10%)
- Allocation: After bolstering the Liquidity Pool during the initial phase, 10% of the Tax Pool revenue will be allocated to the Public Good Fund.
- Purpose: This fund aligns with $RIU’s public-good philosophy , supporting victims of hacks and scams beyond Multichain.
- Transparency: Fund allocation decisions will involve the community, and all donations will be trackable on-chain.
4. Team Incentives (10%)
- Allocation: 10% of the Tax Pool revenue will provide incentives for the team , ensuring ongoing growth and operational expansion.
