Detailed explanation of OPNX's first Launchpad project Raiser (RZR)

On the morning of June 25, OPNX, a debt trading platform founded by Su Zhu and others, announced that it will launch the first Launchpad project Raiser (RZR). All OX pledgers will share 10% of the RZR supply allocation.

Raiser: A Permissionless Credit Market

Raiser provides a permissionless credit market (RaiseR). By introducing a third-party credit evaluation agency, anyone can borrow based on their credit score on the chain and social media, and does not require any collateral (in fact, it is optional) model). In addition, Raiser will also provide a trading market (RaiDEX) that allows bonds to flow freely in the market.

The operation of Raiser relies on three types of roles - lenders (users who need funds), borrowers (users who provide funds), and traders (roles who are free to participate in the market). From the point of view of the operating mechanism, lenders can raise funds by issuing zero-coupon bonds, borrowers can obtain fixed income by purchasing these bonds, and traders can trade these bonds with a certain yield space in the secondary market, thereby promoting the bond market. of free movement. Specifically, the brief operation process of the three parties is as follows:

lender

Before issuing bonds, lenders first need to establish their own credit information (on-chain + off-chain), share relevant information with potential borrowers, and then pay a certain agreement fee (in RZR) to create a The fund pool subscribed by the borrower.

Some potential behaviors can improve the credit level of the lender, such as providing personally identifiable information, providing detailed social media links, verifying their ownership of certain assets (just capital verification, not as collateral), and choosing whether to use certain assets as collateral. Collateral (not mandatory).

When creating a fund pool, lenders need to set a number of parameters such as start time, subscription cycle, loan cycle, minimum loan amount, maximum loan amount, interest rate, etc. for borrowers to evaluate.

Borrower

Borrowers can decide whether to lend money according to the credit file and specific regulations provided by the lender. If they think it is feasible, they can directly inject funds into the above-mentioned fund pool.

After providing funds, the borrower receives a token representing the bond, which can be freely traded on the market provided by Raiser.

trader

Traders can freely trade bond tokens on the marketplace provided by Raiser.

Due to the different factors such as the maturity time, interest rate and credit status of each bond, its price will also fluctuate to a certain extent. Introducing traders is essentially introducing speculators into the market. On the one hand, it can help early borrowers to advance Unlocking (getting back) funds, on the other hand, can also help the market to price various bonds more accurately.

Token Economic Model

According to Raiser's official documentation, the total supply of RZR is 1 billion pieces.

The specific distribution of RZR is as follows:

Investors will receive 200 million RZR, locked for 12 months, and then need to be unlocked linearly for 12 months;

The team obtained 150 million RZR, which is also locked for 12 months, and then needs to be unlocked linearly for 12 months;

The treasury received 300 million RZR, fully unlocked;

150 million RZR has been allocated for the partnership, fully unlocked;

**The market has allocated 200 million RZR, which is also fully unlocked. **

Protocol Governance and Fees

Governance and fees are the two main functions that RZR serves within the Raiser system.

In terms of governance, Raiser's governance relies on the operation of 11 governors, of which 3 governors are long-term served by core contributors to the protocol, and the other 8 are selected from the 8 addresses with the highest number of pledged RZR (veRZR can be obtained after pledge), updated every 90 days list once.

**Any staker holding veRZR can create a proposal, but only governors can vote on the proposal, and any proposal needs at least 50% of the governors votes. **

In terms of fees, in the initial stage Raiser will charge a certain amount of RZR for various protocol operations, such as lenders needing to pay 10,000 RZR to create a pool, borrowers need to pay 1,000 RZR to provide funds, etc., but such fees can be adjusted through governance.

In addition to RZR-related fees, Raiser will also charge a 0.15% handling fee for each successful loan and a 0.2% handling fee for each bond transaction, all of which will be returned to the community.

future plan

According to Raiser's roadmap planning, RZR will be issued on the Ethereum mainnet this quarter.

However, it is worth noting that the roadmap also mentions that Raiser will launch lending products (RaiseR) and trading products (RaiDEX) on Solana this quarter, and mentions that all RZRs will be bridged to Solana.

Perhaps, Solana, which costs less, is the main position for the future development of the project.