If you are looking for that next Defi trend, then you might want to keep reading this article...
So recently, I have been sitting in an investment where the developer had disappeared for over a month. I got fed up with a lack of communication, so I decided to move on from that project, and landed on CoinGecko to do my usual surfing.
In quite a short amount of time, I've come across:
I went to their telegram group, and to make it simple, this is what this coin is all about:
So normally when you get yourself a bag of coins, that's all that you get, and then your only hope is that the value will increase over time. Every cryptocurrency works that way no matter if it is Bitcoin, Ethereum, Dogecoin, bush coin, you name it.. it all falls into the same coin principles with some exceptions like Ampleforth, etc.
reflect.finance (RFI) brings a revolutionary fee redistribution mechanism that works by sending a 1% from every transaction to all holders of the coin, in real-time!
So, if you have 1000RFI in your bag, not only the expected value will increase, but the number of coins will grow over time as well. You'll receive a share of 1% proportional to your holdings. Also, the coin has a deflationary mechanism that works by sending 1% to a burned address decreasing available supply in result.
I honestly thought this is a project with a massive potential and room for growth, and I think it is just a beginning for RFI...
So, what about clones?
Reflector.Finance (RFCTR) well, guess - It's the first and the only clone that has been officially connected to RFI, even though there seems to be a little bit of FUD between them now.
Anyway, how's Reflector different from Reflect?
Well, Reflector has a 12% redistribution fee which is mind-blowing! If you talk to all the people who hold RFCTR, they all claim to have astronomical gains, and there seems to be very little FUD or none on their telegram group. Also, Reflector's deflationary mechanism at the time of writing has taken 1,5M out of circulation.
But that is not all...
Reflector has partnered with Ethernal Cash (casino in another words) also, Reflector is soon going to be listed on Loopring (low cost, fast DEFI trading platform on Ethereum network)
Another clone I have stumbled upon is R2F.Finance (R2F) this project has an 8% redistribution fee and the fastest deflationary mechanism of them all with already 4,5M taken out of circulation.
It didn't take to long to find out that there are possibly hundreds of new clones coming up, so I have stopped exploring those further.
That got me thinking. These projects are going to have massive challenges in front of them because it looks like the competition is getting bigger and bigger... and ultimately, creativity, partnerships, and marketing power will decide their success.
But one thing is for sure:
If Reflector's code is free form bugs and they prove themselves with creativity and partnerships than I am more than certain with a 12% redistribution fee Reflector will be the top alternative to Bitcoin as a lucrative store of value, because when the dump comes and it will for Bitcoin, you won't be getting 12% transaction fee on that and you will on Reflector.
Thanks for reading.
This article is based on my personal opinion and is not financial advice. Always be cautious and do your own research before investing in anything!
If you would like to read more interesting articles fell free to follow the link - https://www.publish0x.com?a=N1aMjX93bW
All the best,
Dilema
