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Their official site text

Introduction to Rake.in

Rakein protocol is the first lending protocol that enables users to lend and borrow a diverse range of cryptocurrencies and NFT using variable interest rates on the blockchain of Chromia.

In addition to the typical features seen on other protocols like Aave, Rakein includes notable distinguishing features such as Multiple pools and NFT collateral. What is more, there is no gas fee for our end users.

Rakein leverages a native token – RAKE – that provides holders with governance. RAKE can also be staked for insurance to earn protocol fees and RAKE rewards when DAO is introduced.

Roadmap

Good to know: The roadmap relies heavily on the Chromia mainnet launch time.

2022 Q2

Website Creation

Launch of MVP Dapp on Chromia Testnet

Set-Up of Communication Telegram Group

2022 Q3

NFT Lending

Presale Round

IDO

Airdrop Distribution (Round 1&2)

CoinMarketCap & Coingecko Listing

2022 Q4

Official Chromia Oracle Partnership

Official Launch of Dapp on Chromia Mainnet

Introduction of Investors

2023 Q1

Protocol Fees Return

Exchange Listing

RakeIn Protocol V2 - Lite Paper

Disclaimer

This litepaper does not constitute investment advice, does not include any promises, offers, guarantees, representations or warranties. This article is subject to change but is not guaranteed to be up to date.

Abstract

Here, we present RakeIn v2: a semi-permissionless lending protocol built to help users lend and borrow more risky and profitable tokens than ever before. The purpose of this lite paper is to describe how RakeIn works at a high level and highlight new features and innovations that help to set it apart from other popular lending protocols, like Venus and AAVE.

1. Getting Start - RakeIn V1

The original vision of RakeIn was lending protocol that enables users to lend and borrow a diverse range of cryptocurrencies and NFT using variable interest rates on the blockchain of Chromia. The previous version migrated from AAVE as follows:

Lenders supply tokens (provide liquidity) to a pool of assets, and borrowers take these tokens (borrow liquidity) from that same pool. Instead of each party interacting directly with the other, they interact with the communal pool.

The pool - managed by smart contracts on chromia blockchains - algorithmically and dynamically determine the interest rates lenders earn and borrowers pay. In other words, the interest rates are calculated automatically with no intermediary party needed, thus significantly reducing costs.

You can find out the details in https://docs.rakein.io/introduction/introduction-to-rake.in

The peer-pool lending model is still very important in V2, with innovative design to address the unsatisfied lending requirement.

2. Lending's Impossible Trinity

2.1 Security

Over-collateralized loans are the dominant paradigm for DeFi lending. An over-collateralized loan means that in order to take a loan from one MM, one must deposit tokens of higher value as collateral. Not only that, but the borrower must make sure they maintain a proper amount of collateral for the entire lifespan of the loan.

However, If one of the assets were to drop in price faster than liquidators can react, every user and every asset is affected by this. So the risk to the platform is based on the risk level of the riskiest asset listed on the platform. This risk increases with every extra asset that is added, leading to a very limited choice in assets on most platforms.

On 2021 May 18th, Venus Protocol suffered a huge $200M+ in liquidation. This was due to price manipulation of the governance token (XVS) which led to a $100M+ of bad debt accumulation.

Mango Markets, a decentralized finance trading platform on the Solana blockchain, suffered a hack worth approximately $112 million in digital assets utilizing a technique known as oracle price manipulation.

2.2 Liquidity

Peer-to-Pool lending model is a very common and popular method amongst DeFi lending applications. Unlike traditional lending where lenders and borrowers need to be matched and then form contracts, both parties instead interact with a common asset pool. Lenders' and borrowers' interest rates are automatically determined by each asset's borrowing to lending ratio.