Reimagined Finance (Thread)

DeFi as we may know is currently hiking steadily and increasing the TVL. But have you ever imagined having a DeFi ETF or an investing basket?

Come Reimagined Finance ($REFI). With the product of Farming-as-a-Service, users could enjoy the profits distributed from yield farming across various DeFi projects.

ReFi has a notion of easing passive income for anyone in the cryptospace through DeFi markets without the complexities. The capital is allocated across a diversified portfolio on low, medium, and high risk buckets.

Being a relatively new project, ReFi has currently no records of venture/investment rounds in @crunchbase. The team has not been properly introduced.

The core team have been properly doxxed. @mathdroid – lead dev, @hufhaus9 – lead farmer, @chief_ibba – lead advisor, @Oshi_LLC – head of strategy, @aj_malibu – head of community integration, @__DigitalDealer – head of technical partnerships.

To receive profits, the general flow is as follows: buy $REFI through $UNI or $CAKE, then just hold!!! Rewards are sent to the dashboard in the ReFi app. Users could claim their respective $ETH, $BNB, or $REFI to further increase the % total distribution.

Security-wise, the platform has been carefully audited by @CertiK. Despite the promise of distributing profits by holding $REFI tokens, owner has the role to drain tokens leading to a possible honeypot/rugpull scam.

there is a critical finding by CertiK –

Diving deeper into the platform, the initial portfolio baskets are classified based on their volatility: low-risk (<5%), medium-risk (5-40%), high-risk (>40%). (all data after this are initial investments)

The low-risk farms consist of the 40% treasury proceeds into stablecoin farms. Started off by bridging ETH to $FTM and purchasing USDc, the asset would be used to add liquidity to the fUSDT/DAI/USDC pool (30.61% APY).

Another 30% of the treasury proceeds goes into FTM/TOMB and FTM/TSHARE liquidity pools with a lock up period of 30 days. The respective APY is 5905.801% and 1306.032%. $TOMB is algorithmically pegged to $FTM – a leveraged play by the team. $TSHARE is the governance token.

The remaining 30% of the treasury proceeds goes into $TIME and $SPELL. The team mainly exploits hype around these tokens for high risk farms.

ReFi has set a simple investment thesis in accordance with the risk volatility ratio. Low-risk → algorithmically pegged assets or 1:1 assets. Medium-risk → token use cases and considers the APY. High-risk → capitalize on hype and community engagement.

Following through the initial investment, the team proceeds on increasing the low-medium risk bucket by bridging 7 $ETH to $LUNA network. 3 ETH equivalent was allocated to mint $bLUNA, which automatically earns $ANC (87.7% APY). 4 ETH are used as a deposit in lending UST.

Given the fast-paced and alert to news nature of the team, they are occasionally moving investments based on the current market performance. More information regarding farming allocation history could be seen here https://reimaginedfi.medium.com/.

The $REFI token itself is an ERC-20 and BEP-20 standard token with 1 billion fixed supply. There is no burning mechanism integrated to the token itself. Though, technically $REFI is an ETH reflection type since users buying $REFI could return $ETH or $BNB.

Additionally, 12% of every REFI transaction goes to treasury and LP tax → portfolio farms tax.

ReFi has set several roadmap:

Phase 1

• Grow farm to +1000 ETH ✅

• Partner with multiple DAOs and VCs ✅

Phase 2

• Scaled to BSC ✅

• Integrate to other EVM-compatible chains

• Multichain security upgrades

As of February 20, 2022, the fast-paced team has alternated the portfolio to a higher portion of low risk farms instead of high risk – following the #RussiaUkraine and CPI announcement.

https://twitter.com/ReimaginedFi/status/1495494917577228292?s=20&t=Gec8ZBPD3IZ7dhhDW6n8ZQ

For transparency purposes the liquidity lock address is 0xdda421bd06a1bc6ade1f3eaa8362ec793eb765b383f600bd6ca38e4e6f729f6a