DeFi Service Platform
The REDHeal project introduces the REDHeal Platform, a DeFi service ecosystem built on the Polygon PoS Chain (hereinafter referred to as “Polygon”). The REDHeal project team is developing the REDHeal Platform using blockchain technology and has created the REDH token, which will function as both the platform’s utility and governance token. The platform will offer DeFi services that establish a virtuous cycle with the REDH token at its core.
Currently, the most active and representative Web3 service is decentralized finance (DeFi). DeFi utilizes blockchain technology and smart contracts to offer a variety of financial services, such as earning interest through staking or obtaining loans secured by coins/tokens. By leveraging blockchain and distributed ledger technology (DLT), DeFi enhances transparency, efficiency, and accessibility, positioning itself as a cornerstone of future finance.
The REDH token is issued using the ERC-20 standard specified by the Polygon network, taking into account transaction stability and scalability. As the platform token, REDH will serve as a medium of value exchange and rewards within the REDHeal ecosystem. Additionally, REDH will function as a governance token, granting eligibility and voting rights in the ecosystem’s main decision-making body, the DAO.
At the initial stage of the REDHeal Platform’s service launch, users will be able to stake their coins/tokens to earn profits, thereby establishing stable liquidity pools. These pools will form the basis for offering essential DeFi services, such as loans secured by coins/tokens. Within the REDHeal DeFi ecosystem, anyone can become a liquidity provider, and users who supply liquidity through staking will receive REDH tokens as rewards.
The REDHeal project team offers De-Fi services built on the REDHeal platform. To achieve this, the platform will initially focus on essential De-Fi services such as ‘Staking and Swapping’ and ‘Lending and Borrowing’ to establish a stable liquidity pool. This strategy aims to generate revenue from loan interest and transaction fees, which serve as the primary income sources for the De-Fi service platform. Furthermore, by allowing interest and fees from the De-Fi lending service to be paid in the governance token, REDH, the project intends to enhance the token's utility, promote the circulation of the token economy, and ultimately increase the value of REDH as an asset, thereby strengthening its position in the market.
Among the De-Fi services offered by the REDHeal platform, staking is one of the various ways to earn REDH tokens. Users can directly buy REDH tokens through listed external exchanges, or they can provide liquidity to the REDHeal platform and earn interest and fee-based rewards. While staking may not offer high returns, it is a preferred investment method for many investors due to its ability to securely accumulate assets.
Users can borrow other coins or tokens by using mainnet coins (POL) or tokens issued on compatible networks as collateral through the REDHeal platform. The De-Fi lending services provided by the REDHeal platform are executed automatically via smart contracts, ensuring a transparent and secure process through blockchain technology. Users can pay transaction fees generated during the lending process, as well as interest based on the loan duration and amount, using the platform's governance token, REDH.
The REDHeal platform plans to reward users with REDH tokens for staking. Within the De-Fi ecosystem of the REDHeal platform, anyone can become a liquidity provider, and users who supply liquidity will receive staking interest as compensation. The De-Fi yield farming on the REDHeal platform is one way for coin and token holders to generate income by utilizing their assets. Typically, the rewards from yield farming are distributed in the form of transaction fees or interest from borrowed funds, using the platform's governance token, REDH, as the payment method.
In the initial phase of the REDHeal platform, a service will be provided that integrates with external wallets compatible with the mainnet Polygon network. Later, the REDHeal platform plans to develop and offer its own personal wallet, the "Multi-Signature Wallet," to enhance user convenience and lower the entry barriers for De-Fi services.
The dedicated wallet for the REDHeal platform is a browser extension that allows users to manage and utilize platform tokens (REDH), mainnet coins (POL), and tokens based on the Polygon network. This wallet is software that can be installed on computers or mobile devices, securely storing the user's private keys and enabling coin and token transactions.
The REDHeal Platform is a blockchain-based DeFi service platform built on Polygon.
The REDHeal Platform will offer a variety of DeFi services, including coin/token-collateralized lending and staking. Users of the REDHeal Platform can either become liquidity providers by staking their coins/tokens, thereby contributing to liquidity provisioning, or borrowers by using their coins/tokens as collateral to receive loans.
The platform’s governance token, REDH (hereinafter referred to as the “REDH token”), is issued based on the ERC-20 token standard of the Polygon PoS Chain.
The REDH token serves as a means of rewarding users who participate in the platform’s services and can also be used to pay fees incurred when utilizing DeFi services on the platform.
The REDHeal project plans to develop and stabilize the platform and services further, ultimately establishing an expanded DeFi ecosystem centered around the REDH token.
To enhance user convenience and accessibility, the project team will first develop and provide a dedicated multi-signature wallet. Subsequently, the team will sequentially develop a mobile-exclusive DApp and an NFT marketplace to expand the scope of services into more diverse and advanced sectors.
The REDH ecosystem operates through the REDHeal DAO, its primary decision-making body, which is responsible for proposing, modifying, and deciding on key agendas within the ecosystem. To facilitate fundraising, profit distribution, and community member voting, the DAO relies on governance tokens, specifically the REDH token, which is used in its smart contracts and voting processes. DAO members are granted voting rights proportional to the number of governance tokens they hold, enabling their participation in the decision-making process and allowing them to vote on proposed agendas. Additionally, members can directly suggest how the funds raised by the DAO should be used and propose the overall business strategy of the organization. They may also receive a redistribution of profits in REDH tokens based on their contributions to DAO activities.
Users of the REDHeal platform will receive REDH tokens as rewards based on a predetermined percentage set by the foundation for the interest earnings generated from utilizing the platform's De-Fi services. The REDH tokens earned as rewards can be used to pay transaction fees, loan fees, or interest fees associated with these services. Users can also exchange these tokens for other coins to engage in virtual asset trading. Furthermore, by holding the tokens, users gain the right to participate in the DAO and can generate additional interest income by depositing into the liquidity pools established on the platform.
The REDHeal Platform ecosystem establishes a token economy centered around the REDHeal Token (hereinafter referred to as “REDH”), which is issued based on the ERC-20 token standard defined by the Polygon blockchain network. REDH tokens can be acquired either through direct purchases on listed exchanges or as rewards distributed by the platform. Acquired REDH tokens can be converted into cash via exchanges or exchanged for other coins/tokens through POL network wallet services, allowing them to be utilized as investment assets.
The REDH token serves as a core component for building, maintaining, and activating the platform ecosystem. It functions as a means of distributing rewards to users who utilize the platform’s DeFi services and as a payment method for fees incurred during DeFi service transactions. Furthermore, the REDH token also acts as a governance token, granting eligibility and voting rights in the ecosystem’s primary decision-making body, the DAO.
By connecting users with assets and facilitating peer-to-peer interactions, the REDH token enables a virtuous cycle of “earning (distribution)” and “spending (payment)” within the platform ecosystem, thereby sustaining and perpetuating the ecosystem. Additionally, the REDH token lowers the entry barrier for users, increasing international user adoption. As a result, it will play an essential role as a key link in expanding the REDHeal Platform’s business scope and service scale into the global market.
The REDH token is issued using the ERC-20 standard defined by the Polygon network, taking into account transaction stability and scalability. The ERC-20 token standard serves as a specification to ensure compatibility for tokens circulating on the Polygon network. As a programming standard, ERC-20 defines the requirements for tokens issued by decentralized applications (DApps) operating on the Polygon network to maintain interoperability. Therefore, any token utilizing the Polygon blockchain must adhere to the ERC-20 token standard. The basic information regarding the issuance plan for the REDH token is as follows.
| Token Name | REDHeal Token |
|---|---|
| Token Symbol | REDH |
| Standard | ERC-20(Polygon Network) |
| Total supply | 1,500,000,000 REDH |
The REDH tokens will be distributed as follows: 25% for platform development, implementation, and system enhancement; 35% for ecosystem creation and platform maintenance; 20% for token swaps to secure initial business seed funding and personnel, as well as token development costs; 5% for advisors contributing to the project team and ecosystem; 10% for investors and partnerships; and 5% for company operations and miscellaneous expenses.
The funds raised through the REDH token will be allocated as follows: 30% for development costs related to recruiting and operating research and development personnel, enhancing services and business models, and developing DApps; 20% for service establishment costs, including hiring personnel for the REDH ecosystem and office operations; 30% for marketing expenses for executing online and offline advertising; 10% for legal and accounting advisory costs that align with the laws and realities of each country where the REDH token will be traded; and 10% for company reserves and risk management.
