You’ve probably heard of “Read-to-Earn,” but you’ve probably also heard of “Play-to-Earn,” “Run-to-Earn,” “Drive-to-Earn,” and “Work-to-Earn.” In today’s piece, you’ll learn about an exciting new movement pioneered by the ReadFi project: Read-to-Earn.
Before learning about Readfi, we have this super hot news for you:
⧫ Readfi’s extremely attractive Fair Launch event will soon take place on August 27. Get ready for the opportunity to earn extremely attractive profits.
Fair Launch event information:
● Join at: https://www.pinksale.finance/launchpad/0x091dd4d1C5345668b860f2530Fae210416394efA?chain=BSC
● Time: From 12:00 UTC, August 27 – 12:00 UTC, August 31
● Token: RDF (ReadFi)
● Tokens For Presale: 10,000,000 RDF
● Soft Cap: 200 BNB
● RDF will be listed on Pancakeswap
And now, let’s learn about Readfi!
Table of Contents
I. Introduction
A new cryptocurrency platform called ReadFi is working on a mission to help the blockchain community get back on track. It makes time each day for reading and uses the read-to-earn system to encourage its customers to do the same. The Metaverse Library was just established in the digital world by ReadFi.
The ReadFi initiative wants to utilize every resource at its disposal to link reading with the virtual world of today. The Read 2 Earn software and the Metaverse Library projects are only two of this project’s prospective goals. The following functionalities are offered by ReadFi on its cryptocurrency platform:
➢ Social-Fi: ReadFi is a Metaverse lifestyle app with Social-Fi and built-in cultural connections.
➢ Read 2 Earn: By reading books, users who have purchased Glasses NFTs have the opportunity to earn $RDF tokens that can be used on the site or exchanged for cash.
➢ Developing Technology: ReadFi adheres to the Social-Fi philosophy to develop a robust platform that supports Web 3.0 and Metaverse content, while also aiming to link more people to a more cultural lifestyle.
➢ Social Development: Users may invite others to read events and earn cryptocurrency.
➢ Social Development: The ReadFi Project, the pioneer in the blockchain industry, was created as a platform for individuals to further their cultural development.
➢ Metaverse: It was created in the metaverse universe, which is currently another universe of their planet, to provide the best assistance possible for humans in the cultural sense.
Additionally, the ReadFi NFT series has its own predetermined profit mechanism and pricing. According to their quality, ReadFi NFTs exhibit a changing reward distribution in terms of profits. It provides its holders with greater advantages inside the events and reference system in accordance with the quality of Readfi NFTs.
The NFT quality holders claim that they are eligible for a new reference code and a greater reference gain. Liquidity will represent a certain portion of the Readfi NFT trading profits. By taking part in weekly and monthly activities using ReadFi Tokens, people may earn additional money. Users may also access numerous recently published books by well-known writers using ReadFi Tokens.
Additionally, users may win ReadFi Tokens by taking part in Q&A sessions on General Culture and other topics, as well as by staking their ReadFi Tokens.
They may also use the ReadFi platform to advertise their writings.
II. Let’s learn more about ReadFi’s Read-to-Earn mechanism
1. NFT Operating System
Every form of ReadFi NFT has its own unique profit mechanism, as well as its own set of rates. Readfi NFTs have a dynamic reward distribution in earnings that varies depending on the quality of its content.
Readfi NFTs are of such high quality that they provide you with additional advantages within the context of the event and reference system. If there is an addition of the same kind of NFT in the account, a bonus of plus one percent will be added to the profits. (in accordance with the quality of the NFT). Your current NFT quality will determine whether or not you are eligible for a new reference code and whether or not you will get a greater reference gain.
Note that the incentive for keeping more than one NFT is capped to one additional NFT.
2. Operating System For Tokens And Their Use Cases
Readfi NFT trading will generate some revenue, some of which will be added to the platform’s liquidity pool. Participating in Weekly and Monthly activities that need ReadFi Tokens will help you earn additional rewards.
You can do the following using ReadFi Tokens:
➣ You will get access to a large number of recently published books by well-known writers.
➣ Take part in question-and-answer competitions centered on General Culture and other topics for a chance to win prizes. (Under Development)
➣ Make money with the ReadFi Token staking system
➣ You may use the ReadFi platform to market your own works (Under development)
3. Mechanism Operating System
If you have Readfi NFT, you may start reading and earning by clicking on the book that appeals to you from the category appropriate to you on the website and application. (Read to Earn) The amount of pages needed to be read and the earnings rates fluctuate depending on the quality of Readfi NFTs.
The quality of Readfi NFTs may influence reference bonuses.
The quality of Readfi NFTs may provide it an edge over growing quality in particular events and contests. When users of Readfi NFT achieve their daily reading limit, the system will provide them token units in exchange. You may read it again once you’ve reached your daily reading limit. NFT earnings are published daily and are available for direct trade.
Token earnings are greater than NFT earnings, but they are not available for daily trading. You may bet on the earnings decided, Earnings/Day options, and get the payout on the set day and trade.
4. General Knowledge Question Mode (Under Development)
The questions will be based on various works of literature or on culture in general.
In Question Mode. There will be both weekly and monthly iterations of the question events.
◾ Weekly Question Mode – Question mode is run on a weekly basis and remains active throughout the whole week.
◾ Monthly Question Mode – This mode of play occurs once every month and continues throughout the entire month.
5. Registration Fee (Under Development)
When users register for Question Mode, they are required to pay a fee in order to demonstrate their commitment. The participants in Question Mode are scored and ranked using points. Users get points depending on their time spent and percentage of correct answers.
Each question will only have a certain amount of time allotted for it.
6. How to Use ReadFi (Read 2 Earn Platform)
It is required that thirty pages be read each day as part of the assignment. You are free to begin reading whatever book you choose to pick up from the library as long as it interests you. On each page, there is a required waiting period that lasts for three minutes, and it is not possible to go to the next page until the allotted time has elapsed.
Following the conclusion of the daily reading, the system will send your tokens to you in an instantaneous manner. It is necessary to have either NFT or staking tokens in order to profit through reading. Additionally, you are not required to pay anything in order to browse the extensive library and read any book that strikes your fancy.
III. What about Readfi’s unique NFTs?
1. ReadFi Uncommon NFT Features and operation
● Price : 100 units
● Daily earn rate: 3.33 units
● Amortization period: 30 days
● Referral bonus: 5%
● Event and Q&A discount: 5%
● Uncommon 2nd NFT discount: 2.5%(Any quality)
● Note: Gain unit is fixed.
● NFT usage period is 75 days
2. ReadFi Rare NFT Features and operation
● Price : 200 units
● Daily earn rate : 8 units
● Amortization period: 25 days
● Referral bonus: 10%
● Event and Q&A discount: 10%
● Rare 2nd NFT discount: 5%(Any quality)
● Note: Gain unit is fixed.
● NFT usage period is 60 days
3. ReadFi Epic NFT Features and operation
● Price : 300 units
● Daily earn rate : 15 units
● Amortization period: 20 days
● Referral bonus: 15%
● Event and Q&A discount: 15%
● Epic 2nd NFT discount: 7.5%(Any quality)
● Note: Gain unit is fixed.
● NFT usage period is 55 days
4. ReadFi Legendary NFT Features and operation
● Price : 400 units
● Daily earn rate : 26.66 units
● Amortization period: 15 days
● Referral bonus: 20%
● Event and Q&A discount: 20%
● Legendary 2nd NFT discount: 10% (Any quality)
● Note: Gain unit is fixed.
● NFT usage period is 45 days
5. ReadFi Staking Pools
They have various stake pools, each with a unique method that is determined by the amount of tokens you stake and the number of days you stake them for. For an example of this, please refer to the table below, which is organized according to the units.
| Units | Days of staking | Total claim |
| 100 | 30 | 125 |
| 100 | 60 | 250 |
| 200 | 25 | 250 |
| 200 | 50 | 500 |
| 300 | 20 | 375 |
| 300 | 40 | 750 |
| 400 | 15 | 500 |
| 400 | 30 | 1000 |
➤ Completion of unit gains on the stated day after they have been successfully completed.
➤ It is the net unit equivalent, and there will be a loss in comparison to the day that you staked on the days that are passed over in order to read them.
➤ The quantity of units will be disclosed following the launch and the beginning of the staking futures period.
IV. ReadFi Deflation Mechanism
The repurchase program is going to make consistent use of the fees that are obtained from the question and answer activities. Obtaining a certain fee from the sales of an author’s or individual’s one-of-a-kind work will perpetually be employed in the buy back scheme.
The buy back program will use seventy-five percent of the entire amount of NFT that was folded. The remaining 25% will go into more hands-on marketing strategies. The buy back scheme will be funded by revenue generated from activities conducted on the ReadFi platform. The buy back program will make use of the high fees that were paid by early unstaker users.
V. Why ReadFi
The ReadFi Project is a first of its kind in the world of blockchain technology. It was established as a platform for individuals to both grow culturally and make money.
In order to provide the maximum possible assistance to people in the cultural sense, it has been produced in the universe known as the metaverse, which is today considered to be another universe of our globe.
A project that serves the largest library in the Metaverse universe, brings together famous authors and users, and brings together valuable users in this field is one that should be read first. These goals can be accomplished by bringing together people from a variety of communities, engaging in culturally relevant social activity, bringing together famous writers and users, and so on. inside its own department within the Global Arena. It has the goal of becoming the best.
Official Links
Website: https://readfi.io/
White paper: https://docs.readfi.io/
Twitter: https://twitter.com/ReadFiGlobal
Medium: https://medium.com/@ReadFi
Telegram: https://t.me/ReadFiOfficial
Disclaimer
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