What is Rango? Binance Investment's Rango Token Economics and Outlook
- 王林Original
- 2024-07-01 11:19:41273browse
What is Rango? Binance Investment’s Rango Token Economics and Outlook! As the crypto market develops rapidly, cross-chain interoperability has become a key factor driving innovation and growth in decentralized finance (DeFi). Recently, Binance Labs announced its investment in cross-chain decentralized exchange (DEX) and bridging aggregator Rango to further enhance its cross-chain exchange and bridging capabilities and achieve billion-user expansion. Rango is quickly becoming a leader in this space with its wide range of features and support for multiple major blockchains such as BTC, Solana, Tron, Cosmos ecosystem, Starknet, etc.
Introduction
Rango’s interoperability simplifies transactions across blockchain ecosystems and drives the growth of DeFi.
Supports over 60 blockchains, 70+ DEXs, and 20+ bridges.
Processed over $3 billion in transaction volume.
Processing over 3,000 organic cross-chain exchanges every day.
Rango services are available in well-known wallets and DApps such as TrustWallet, Exodus, Binance Web3 Wallet and Compound, showing its wide acceptance and frequency of usage.
Financing
The financing was led by Binance Labs, with participation from Nomad Capital and Foresight Ventures.
The specific amount of financing was not disclosed, but it reflects investors’ confidence in Rango’s prospects.
Unique Features of Rango
Super aggregator that can perform complex multi-step exchange operations.
User-friendly, providing a unified and intuitive interface, simplifying cross-chain transactions.
Multi-chain support
covers mainstream blockchains such as BTC, Ethereum, Solana, Tron, Cosmos, and Starknet.
Meets the needs of various users, from advanced traders to DeFi newbies.
Rango integrates multiple liquidity providers, allowing users to experience low slippage even with high trading volumes. At the same time, Rango will find bridges or decentralized exchanges with the lowest fees and the best exchange rates for users, and calculate real-time arbitrage opportunities to ensure users get the best trading experience.
Technical Framework:
Rango’s technical architecture is designed to ensure the high efficiency, security and scalability of cross-chain transactions. Its core consists of three major components: routing API, transaction API and tracking API.
Routing API:
The main function of the routing API is to find the best transaction path through multiple decentralized exchanges and bridges, optimizing user experience, fees and output amounts. It supports complex path calculations between different blockchains and ensures transactions proceed smoothly.
Trading API:
The Trading API is responsible for checking the availability of preset conditions, balances and fees, and setting up transactions for different types of blockchains, decentralized exchanges and bridges. It can handle various complex transactions and track the status of these transactions to ensure that the transactions are completed smoothly.
Tracking API:
The tracking API is used to monitor blockchains and related smart contracts, such as the 1inch smart contract on Binance Smart Chain, to calculate statistics and alliance rewards. It ensures transparency and traceability of all transactions, providing users with a safe and reliable trading environment.
Products and Services:
The products and services provided by Rango are designed to solve the pain points in cross-chain transactions. The following are its main functions and advantages:
Multi-chain wallet and dApp support:
Rango’s API is not only for individuals Used by users, it is also integrated with multi-chain wallets and decentralized applications (dApps). For example, Thorwallet, Brokkr, Thorswap, XDefi, etc. can all leverage Rango’s routing API to enable the exchange of any token. By providing a simple API, Rango eliminates the tedious work of developers when handling cross-chain transactions, allowing them to focus on their core values.
Fees Service:
Rango plans to provide a fee service to help users obtain the fees required for transactions more conveniently. For example, users can receive the required on-chain fees by sending Rango tokens, which eliminates the need for them to purchase and transfer small fees across chains. This feature has not yet been finalized, but once implemented, it will greatly facilitate users’ cross-chain transactions.
Token Economics
Rango’s token economic model is designed to incentivize users and investors while ensuring the sustainable development of the platform. $RANGO is the native token of the Rango ecosystem and is used for governance, rewards, and payment of fees.
Platform transaction fees will be distributed as follows: 80% for buyback and distribution to stakers, 20% for filling the vault to increase trust and cover potential losses. In addition to participating in governance, $RANGO holders can also enjoy benefits, such as receiving discounts on transaction fees on other blockchains by paying a certain amount of $RANGO.
Token distribution:
The maximum supply of $RANGO is 100 million, and the distribution is as follows:
Team: 20%, one-year lock-up period, gradually released
Private investors: 15%, lock-up period similar to the team
IDO participants: 10%, no lock-up period or short lock-up period
Advisor: 1% , specific allocation
Airdrop: 5%, planned to be airdropped in the first year
Liquidity provider: 10%, rewarded within two years
Community Fund and Growth Incentive: 39%, used for incentive and development
Competitive advantages and market prospects :
Rango’s advantage lies in its extensive blockchain support and advanced routing capabilities, providing more comprehensive services and better user experience.
With the expansion of DeFi and user demand for multi-chain transactions, Rango has huge growth potential in the field of cross-chain transactions. By optimizing its technology and expanding its supported blockchains, Rango is poised to become a leader in the field.
Binance Labs’ support provides a strong endorsement for Rango. Rango has advantages in technology, user experience and market coverage and will drive DeFi innovation and growth.
Future development and roadmap:
Rango’s future development roadmap demonstrates its ambitions in the multi-chain space:
Q3 2024:
Integrations: Thorchain, 1inch, Terra Swap, Lido, Binance Bridge, Osmosis
Wallet: Terra Station, Jump contract implementation in Terra
Wallets: Phantom, Sollet
Tokens: $RANGO Token IDO
Others: End of testing phase
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