1️⃣Overview

The next-generation internet, known as Web3, is gaining attention for its key features of "decentralization" and "individual content ownership." Web3 is a web service that enables participants to engage in various activities without intermediaries controlling the data, aiming for a blockchain-based decentralized network, unlike the existing centralized internet environment.

Currently, the most active representative service of Web3 is De-Fi (Decentralized Finance). De-Fi leverages blockchain technology, specifically smart contracts, to provide various financial services, such as earning interest through staking or obtaining loans using coins/tokens as collateral. De-Fi is recognized as a pillar of future finance, enhancing transparency, efficiency, and accessibility through blockchain and Distributed Ledger Technology (DLT).

The REDHeal project introduces the REDHeal platform, a De-Fi service ecosystem built on the BNB Smart Chain (BSC). The REDHeal project team utilizes blockchain technology to establish the REDHeal platform and develops the REDH token, which will serve as both a platform token and a governance token, facilitating a virtuous cycle of De-Fi services.

The REDH token is issued using the BEP-20 standard, which is defined by the BSC network, considering the stability and scalability of transactions. As a platform token, the REDH token serves as a medium for value exchange and rewards within the REDH ecosystem. Additionally, it acts as a governance token, granting participation rights and voting power in the DAO, the main decision-making body within the REDH ecosystem.

Initially, the REDHeal platform will provide users with an environment to earn profits by staking coins/tokens, creating stable liquidity pools. Based on this, basic De-Fi services such as loans using coins/tokens as collateral will be offered. Within the REDHeal platform's De-Fi ecosystem, anyone can become a liquidity provider, and users who supply liquidity through staking will receive REDH tokens as rewards.

In the future, the REDHeal project team plans to create a more expansive global De-Fi ecosystem centered around the REDH token after going through stages of platform and service refinement and stabilization. To achieve this, they will start with the completion of developing a dedicated personal wallet (Multi-Signature Wallet), followed by the development of a mobile-exclusive DApp that enhances user accessibility and convenience, as well as the establishment of an NFT marketplace. Various content and service areas will be developed and supported to expand the service and business scope.

Figure01. Project Overview