Relite to Launch IDO on Ignition

Relite to Launch IDO on Ignition

PAID Network is excited to announce the much anticipated Relite IDO launch is coming to Ignition! Relite’s innovative platform promotes financial freedom by providing an open-finance space for lending and borrowing that is accessible to everyone.

  • Whitelist Open: April 23, 2021
  • Whitelist Close: May 10, 2021, 4AM UTC
  • Relite IDO: May 17, 2021, 11AM UTC

The whitelist for the Relite IDO is closed.

What is Relite Finance?

There is inequality in the financial sector brought about by the centralization of processes such as borrowing and lending. Many people are locked out by the requirements made possible through the rules surrounding the centralized entities. Cryptocurrency companies, through DeFi platforms, sought to address this problem. Sadly, new issues emerged in the decentralized setup that hampered borrowing and lending efficiency and lending through blockchain.

Relite was innovated to solve the emerging problems and provide the crypto lending market with a lasting solution. Its platform supports cross-chain lending allowing users to lend and borrow freely using cryptocurrencies native to unique protocols.

The service is made possible technically by using Polkadot bridges and Parachains. Polkadot bridges allow for accessible communication between chains, while its overall technical stack enables easy deployment of solidity contracts and gives access to significant blockchains through one integration. Through interoperability and scalability made possible by Polkadot, Relite is set to achieve low fees that are optimal for users to transact on the platform.

Relite features an easy-to-use UX that many will appreciate when they start using the platform. The UX is designed such that it acts as a gateway to the DeFi ecosystem for newcomers.

How it works

Participating in the Relite ecosystem is straightforward. A user starts by accessing the web app, which lands on the dashboard. From the dashboard, users can access the following,

  • Staking pools where users can choose to stake.
  • Asset pools where users can deposit into.
  • Lending and borrowing pools where users can deposit or borrow from.
  • The option to buy RELI, the native token of the platform.

Relite Finance Tokenomics

The ecosystem relies on the use of RELI, which tackles the following:

  • Governance
  • Rewards
  • Liquidity mining
  • Staking
  • Token name: RELI
  • Total Supply: 182M
  • Initial Circulation Supply: 14M
  • Hard Cap: $1.5M
  • Private Sale: $1M @ $0.035 per $RELI
  • Public Sale: $0.5M @ $0.045 per $RELI

Whitelist for RELITE is closed.

*For applications to be considered valid, all applications must adhere to the PAID whitelist lottery rules, must pass PAID Ignition’s KYC process, and adhere to each project’s specific KYC requirements and country restrictions which varies per project on a case to case basis. For a list of Relite specific restricted KYC countries check HERE.

About Relite

Relite is a redefining money market protocol enabling users to borrow, lend, and stake all crypto assets in one ecosystem. At the core of the Relite protocol is interoperability, allowing users to utilize ERC-20 tokens and tokens from other popular chains such as bitcoin. Thus, users have access and utility to a variety of cryptocurrencies through Relite.

For any queries on Relite, please reach out on:

About Ignition

IGNITION is a featured product of PAID Network, operating as a decentralized swapping protocol that allows blockchain-based token projects to offer their private and public auctions. The platform features Ethereum, Binance Smart Chain (BSC), and here shortly, Polkadot functionality.

Ignition is different from other auction platforms in that it properly vets and selects only top-tier cutting-edge projects. Its multi-level incentivization mechanisms for participants of published projects will encourage HODLing that supports both the project founders and the community. It isn’t just a trading platform; it FUELs projects and takes fundraising to the next level.

Ignition brings quality projects, fixed swaps, and equitable lottery participation to the PAID community.

About PAID

PAID Network seeks to redefine the current business contract, litigation, and settlement processes by providing a simple, attorney-free, and cost-friendly DApp for users and businesses to ensure they #GetPAID wherever they are in the world.

PAID technology leverages Plasm to operate on both Ethereum and Polkadot ecosystems. PAID makes businesses exponentially more efficient by building SMART Agreements through smart contracts to execute DeFi transactions and business agreements seamlessly.

For any questions for the PAID network, please feel free to reach out to us on:

  • Website:
  • Telegram: @PaidNetwork
  • Twitter: @PAID_Network
  • Medium: @PAIDNetwork