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Detailed explanation of OPNX’s first Launchpad project Raiser (RZR)

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OPNX, a debt trading platform founded by Su Zhu and others, launched its first Launchpad project Raiser (RZR), and all OX pledgers will share 10% of the RZR supply allocation.

Original Title: "Understanding the First Launchpad Project Raiser (RZR) of OPNX in One Article"

Original Source: ODAILY Planet Daily

On the morning of June 25th, OPNX, a debt trading platform founded by Su Zhu and others, announced the launch of its first Launchpad project, Raiser (RZR). All OX pledgers will share a 10% distribution of RZR supply.

一文读懂OPNX首个Launchpad项目Raiser（RZR）

Raiser: Unlicensed Credit Market

Raiser provides a license-free credit market (RaiseR) that allows anyone to borrow and lend based on their on-chain and social media credit scores, without requiring any collateral (optional mode). Third-party credit estimation agencies are introduced to evaluate creditworthiness. Additionally, Raiser offers a trading market (RaiDEX) that allows bonds to flow freely in the market.

Raiser's operation relies on three types of roles - borrowers (users with funding needs), lenders (users who provide funding), and traders (roles that can freely participate in the market). In terms of operation mechanism, borrowers can raise funds by issuing zero-interest bonds, lenders can obtain fixed income by purchasing these bonds, and traders can trade these bonds with certain profit margins in the secondary market, thus promoting the free flow of bonds. Specifically, the brief operation process of the three parties is as follows:

贷款人
translates to

Lender
in English.

Before issuing bonds, the lender first needs to establish their own credit profile (on-chain + off-chain) and share relevant information with potential borrowers. They then pay a certain amount of protocol fees (priced in RZR) to create a funding pool for borrowers to subscribe to.

Some potential behaviors can improve the borrower's credit level, such as providing personal identity information, providing detailed social media links, verifying ownership of certain assets (just verifying, not acting as collateral), and choosing whether to use certain assets as collateral (not mandatory).

When creating a funding pool, the lender needs to set multiple parameters such as start time, subscription period, loan period, minimum loan amount, maximum loan amount, interest rate, etc. for borrowers to evaluate.

Borrower

The borrower can decide whether to lend money based on the credit profile and specific regulations provided by the lender. If feasible, the borrower can directly inject funds into the aforementioned funding pool.

After providing funds, the borrower can obtain a token representing the bond, which can be freely traded on the market provided by Raiser.

Trader

Traders can freely trade bond tokens on the market provided by Raiser.

Due to factors such as the maturity date, interest rate, and borrower's credit status varying for each bond, its price will also fluctuate. The introduction of traders essentially brings speculators into the market, which can help borrowers unlock (retrieve) funds in advance and also assist the market in more accurately pricing various bonds.

Token Economic Model

According to the official documentation of Raiser, the total supply of RZR is 1 billion.

一文读懂OPNX首个Launchpad项目Raiser（RZR）

The specific allocation of RZR is as follows:

Investors will receive 200 million RZR, which will be locked for 12 months, followed by a linear unlocking period of 12 months;

The team has obtained 150 million RZR, which will be locked for 12 months and then linearly unlocked over the next 12 months.

财库获得 3 亿 RZR，完全解锁； Translation:

Caiku has obtained 300 million RZR and fully unlocked;

In terms of cooperation, 150 million RZR have been allocated and fully unlocked;

The market has allocated 200 million RZR, which are fully unlocked.

Protocol Governance and Fees

The two main functions of governance and fee system RZR within the Raiser system.

Regarding governance, Raiser relies on the operation of 11 governors, of which 3 governors are held by long-term contributors to the protocol core, and the other 8 are selected from the top 8 addresses with the highest amount of staked RZR (which can earn veRZR after staking), and the list is updated every 90 days.

Any holder of veRZR can create a proposal, but only governors can vote on proposals. Any proposal must receive at least 50% of the governors' votes to pass.

Regarding fees, in the initial stage, Raiser will charge certain RZR fees for various protocol operations, such as 10000 RZR for a borrower to create a pool and 1000 RZR for a lender to provide funds, etc. However, these fees can be adjusted through governance.

一文读懂OPNX首个Launchpad项目Raiser（RZR）

In addition to the RZR-related fees, Raiser will also charge a 0.15% handling fee for each successful loan and a 0.2% handling fee for each bond transaction, and the proceeds will be returned to the community.