1️⃣Overview

The next-generation internet, known as Web3—characterized by decentralization and personal ownership of content—is attracting significant attention. Unlike traditional centralized internet environments, Web3 enables users to engage in a wide range of activities without intermediaries controlling the data, leveraging blockchain-based decentralized networks.

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 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.

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.

Going forward, the REDHeal project team plans to further develop and stabilize the platform and services, ultimately creating a broader global DeFi ecosystem centered around the REDH token. To achieve this, the team will begin by completing the development of a dedicated multi-signature wallet, followed by the creation of a mobile-exclusive DApp for enhanced user accessibility and convenience. Additionally, the team will develop and support various content and service areas, including the establishment of an NFT marketplace, to expand the service and business scope.