Brief Overview of Royal Cats Finance
Royal Cats Finance is a DeFi platform that provides Decentralized Exchange, Swap, Staking, and Yield Farming Pools on the Binance Smart Chain.
A Decentralized Exchange (DEX) is a Crypto Exchange run by smart contracts where every transaction is recorded on the blockchain. A DEX replaces the need for a centralized exchange that acts as a middleman, which is one of the key functionalities of the Royal Cats Finance that allow users to trade their crypto assets with the assets in our liquidity pools.
Yield Farming, also referred to as Liquidity Mining, is a way to generate rewards through the holding of cryptocurrency. In simple terms, it means locking up cryptocurrencies and getting rewards. It works when users, called Liquidity Providers (LP), add funds to liquidity pools.
A liquidity pool is a Smart Contract that contains funds. In return for providing liquidity to the pool, LPs get a reward. That reward comes from fees generated by the underlying DeFi platform. The First Phase of our project allows users to earn RoyalPlus (ROYX) tokens as a reward by staking their crypto assets in our liquidity pools: ROYX, ROYX-BUSD, ROYX-BNB, BNB-BUSD.
The price of an asset in the pool is determined by a formula x * y = k. In the case of the ROYX-BNB pool, x is the amount of ROYX in the liquidity pool, and y is the amount of BNB. In this formula, k is a fixed constant reward paid to liquidity providers which in this case is in the form of RoyalPlus (ROYX), meaning the pool’s total liquidity always remains the same.
As part of our ever expanding ventures, we are also proud to announce the development of Social Bureau, an online justice resolution platform based on blockchain technology. Social Bureau allows victims of cybercrime to report their complaints onto the platform, and request assistance from our community to assist them in tracking down their stolen assets and potentially having them recovered. Social Bureau also has a suite of different features to assist anyone in finding justice without having to go through the lengthy and often challenging traditional judiciary channels.
Stay tuned for further information.
