Started by Bitcoin, Mar 30, 2022, 05:36 am
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Reimagined Finance (ReFi) is a DeFi-as-a-Service platform on the Ethereum network that is on a mission to make farming rewards accessible to all. We decided to find out more about what it is they doing. So, we asked them a few questions and here’s what they had to say.
Q: Let us start with the most basic question, what is reimagined finance all about? How does it “reimagine” the community’s finances/investments?
A: ReImagined Finance is about reimagining your relationship with your personal finances. In fact, the whole ethos being decentralised finance (DeFi) is to be your own bank. ReFi makes this process truly democratic, by taking out the friction involved in actively participating in DeFi Markets.
We do this via a very simple concept: Investors give us Ethereum, we use it to "farm" on multiple blockchains, we extract yield, and we pass it back seamlessly to our investors. All of this is available at the click of a button.
Q: Tell us how it works and what makes it different from other Farming as a Service offerings in the market?
A: Investors buy the ReFi token which gives them proportional access to the cash flow generated by the Portfolio of Assets (which currently stands at $3,000,000). To date, we have paid over $4,500,000 of distributions back to our holders. No other FaaS provider comes anywhere near this close in terms of returns generated for its holders.
We also pioneered several pillars that have now been adopted across the industry. These include daily financial reporting, full transparency on positions, a podcast with distinguished guests from across the DeFi space, in-depth articles about risk management and deep relationships with DeFi protocols.
Q: What kind of risk exposure and returns can one expect by participating in Reimagined Finance?
A: ReFi buckets their individual strategies across Low/Medium/High-Risk strategies.
Within the low-risk bucket, we have traditional stablecoin farming and delta-neutral strategies. These are positions with an annualised realised volatility of less than 10%
Within the medium risk bucket, we have positions where we are the liquidity provider (LP) on commonly traded pairs, such as FTM-TOMB, on which we earn a % of all the swap fees whenever the pair is traded. These positions can generate north of 500% APY, but also come with the risk of something called impermanent loss. The high APY offsets this risk partially and the net annualised realised volatility of these positions is between 20-80%.
Finally, within the high-risk bucket, we have several long-only positions on very promising DeFi protocols. These positions are sized accordingly but offer the potential for asymmetric payoffs to the upside. The annualised realised volatility of these positions can be north of 80%.
We have outlined our approach to risk in this article: https://reimaginedfi.medium.com/anatomy-of-a-trade-how-refi-thinks-about-risk-5c4d9e7f7a16
Expected returns for the portfolio itself are 0.5% daily compounded, which equates to around a 617% return in one year. However, note that returns are market dependent on never guaranteed. Our personal returns are also based on your entry price and investors should model the potential distributions that may take place over the course of the investment.
Currently, we are paying 22% of farm profits back to investors on a biweekly basis. This equated to a $54,000 distribution last week. If you owned 1% of ReFi supply you would have received $540 for the week, on top of any price appreciation/depreciation in that time period.
Q: What was the motivation behind creating Reimagined Finance? Tell us more about the team and their roles.
A: ReFi was born out of a grand vision to offer FaaS in a truly professional, transparent, and sustainable manner. Many of the founding members have spotted a gap in the market for a truly committed project that focused solely on farming.
Our lead developer is fully doxxed, with a public LinkedIn and public Github. He connected with several members of the DeFi investment community as well as peers from Developer DAO in order to launch the project.
The core members of ReFi's management team and their roles within the project:
Q: Can you elaborate on the existing as well as any upcoming features?
Q: How does one participate in Reimagined Finance?
A: Simple, you can buy the ReFi token on Uniswap (Ethereum chain) or on Pancake Swap ( Binance Smart Chain).
Investors then have the option to log in to their dashboard, by connecting their wallet. Here they will see their claimable distributions, which they can collect at any time.
Q: Any new developments or partnerships that you would like to share with our readers?
A: Recently, we onboarded a Chief Marketing Officer with decades of experience. Brand building and commercial growth across agencies, consultancies, tech firms, and Multi-National Corporations are among their successes. Be sure to check www.reimagined.fi for more marketing updates!
Q: Anything else you would like to add?
A: ReFi’s purpose is to bring yield farming to all levels of investors across all socioeconomic levels. ReFi values transparency, innovation, and community. ReFi vows to keep investors' needs at the forefront of the business.
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