LONDON, Dec. 3, 2021 /CNW/ -- Huobi Global, one of the world's leading digital asset exchanges, announced today the launch of its fifth Primelist event, offering preferential access to new DeFi project, Rikkei Finance, and its token RIFI. A metaverse DeFi protocol, Rikkei Finance enables safe and secure open lending, featuring cross-chain support, NFT lending and liquidation coverage.

Rikkei Finance tackles a common problem with lending protocols, many of which can only lend assets on a specific blockchain. To solve this problem, it offers cross-chain transactions, using wrapped tokens. Rikkei Finance also implements an improved interest rate model, which incorporates the cost of borrowing from periods of both low and high utilization. This mechanism helps address high borrowing costs when demand for loans is lower.

With a strong technical team, large user base, and ecosystem resources, Huobi can provide substantial support to Rikkei Finance, as well as provide its token with added liquidity.

"Huobi Primelist looks for hidden gems that have momentum but need a listing on a large exchange to take their projects to the next level. RIFI addresses real problems with lending protocols, and we feel that their solutions are targeting the right market opportunity. We're glad that our loyal users can now participate in Rikkei Finance's future growth," said Jeff Mei, Director of Global Strategy at Huobi Group.

During the most recent Primelist event, approximately 404,000 users across 151 countries participated. Users held more than 31.3 million Huobi Tokens to participate, and the token jumped over 25x in price in the first 15 minutes of trading.

Starting 10:00 (UTC) on Tuesday, Dec 7, 2021, users will be able to purchase RIFI assets on Huobi Primelist by either queuing for numbered tickets or holding Huobi Tokens. For more details about the 5th Primelist event, click here. 

Risk Reminder: Trading digital assets and digital asset derivatives comes with high risks due to significant price fluctuations. Please fully understand all of the risks and make prudent decisions before trading. Please read our detailed risk reminders at https://www.huobi.com/support/en-us/detail/360000188081.

View original content:https://www.prnewswire.com/news-releases/huobi-primelist-to-list-rifi-token-supporting-rikkei-finances-ambitions-to-enable-secure-open-lending-301437176.html

SOURCE Huobi

View original content: http://www.newswire.ca/en/releases/archive/December2021/03/c4183.html