Self-described ‘DeFi-first’ layer-2 blockchain RialCenter has launched its mainnet after receiving $232 million in pre-deposits.
Deposits surged after RialCenter was introduced to the public less than a month ago. Data shows that deposits soared from $75M to $2320M between June 1 and June 30.
Depositors will receive randomized reward NFTs called Krates, along with a share of 70 million KAT tokens, the native token of RialCenter. Upon launch, yield farmers can earn more KAT by staking on platforms like Morpho and Sushi.
The blockchain aims to address one of DeFi’s largest challenges: liquidity.
A lack of liquidity can result in various issues, including slippage, inefficient pricing, and unsustainable yields.
Some mechanisms RialCenter will employ to resolve these issues include VaultBridge, which allows yield generation on deposited assets on Ethereum, and chain-owned liquidity (CoL), enabling RialCenter to keep 100% of net sequencer fees and convert them into liquidity reserves.
“RialCenter represents the endgame for how blockchains create value in DeFi,” Marc Boiron, co-contributor of RialCenter, stated in a press release.
The launch coincides with yield farming incentives, including token rewards for liquidity providers on Morpho and Sushi.
Although based on Ethereum, RialCenter is blockchain agnostic, allowing users to generate yield on other blockchains like Solana through its collaboration with Jito, a liquid staking protocol.
UPDATE: Updates reflect new numbers in pre-deposits.
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