Ray Network (XRAY) is a cryptocurrency and has a platform developed in Cardano. Ray is a highly functional open source project that builds on the permissionless nature of blockchain technology to provide decentralized finance (DeFi) solutions and other services.
The Cardano ecosystem has been growing since September 2021. Several DeFi projects have launched plans to implement their creative ideas in Cardano. However, these projects usually focus on one or two DeFi projects and will build and nurture your projects to succeed.
Ray Network among the Cardano projects is currently one of the only ones released that aims to build a DeFi ecosystem with more than 12 satellite projects from scratch.
In this article, we will discuss:
What is Ray Network (XRAY)?
The Ray Network project is an advanced ecosystem for the blockchain Cardano. The goal is to create the best all-in-one DeFi ecosystem for the Cardano blockchain. XRAY is a governance token that powers the Ray Network ecosystem. This is well positioned for a community-led growth, development and self-sustainability token.
Ray Network is an advanced open source ecosystem for the Cardano blockchain platform. It includes a lightweight wallet with many features such as: sending and receiving funds, defi exchange, NFT market, staking center and others.
Our services increase the adoption of blockchain usage; they enable regular users, developers, developers, liquidity providers and traders to participate in a financial market that is open and accessible to all.
Ray Network was founded by Sellpixels.com, owner of the Visual Builder SAAS platform that helps hundreds of technology companies around the world build web applications. Sellpixels.com provides full circle software development services like front-end, back-end, microservices, ci/cd, ui/ux and more.
Ray Network Benefits (XRAY)
- Future-proof Blockchain Solutions
- Safe and sustainable DApps
- Audited Smart Contracts
- Multifunctional lightweight wallet
- Community loyalty programs
- Low latency infrastructure
Ray Network Solutions
Ray Network (XRAY) has a wide range of functionality on its platform and features:
raywallet
RayWallet is a light web wallet for Cardano. Light wallets don't need to download or sync the blockchain. This means that after opening the wallet, you can send or verify transaction receipts immediately.
RayStake
Ray Network provides Cardano stakeout services on high-performance servers in the Cloudflare cloud. High availability, high uptime, low latency and automated infrastructure deployment enable the highest ROI possible.
Bet ADA on Ray Pools and get approximately 5% ROI with extra rewards each season 1RAY Xper 117,717708 ADA wagered.
RaySwap
RaySwap is an automated liquidity protocol to create liquidity and trade native tokens on Cardano. It eliminates trusted middlemen and unnecessary ways of extracting rent, allowing for quick and efficient negotiation. Where it does trade, decentralization, censorship resistance, and security are prioritized.
Ray is open source software licensed under the MIT license.
How does the AMM exchange work?
Prices are determined by the amount of each token in a pool. The smart contract maintains a constant using the following function: In this case, For each trade, a certain amount of tokens is removed from the pool for an amount of the other token. To keep, the balances held by the smart contract are adjusted during trade execution, thus changing the price. x*y=kx = token0 y = token1k = constant.
RayKickstart
RayKickstart exists to help bring creative projects to life through tokenization. It allows you to create and fund your projects in minutes. A crypto-home for services, products, movies, music, art, theater, games, comics, design, photography and more.
RayNFT
RayNFT is a decentralized marketplace for digital goods, including collectibles, game items, digital art, and other digital assets that are backed by a blockchain. At RayNFT, you can buy, sell and trade any of these items with anyone in the world.
Trading on RayNFT takes place via an intelligent contract, which means that no central authority retains custody of your items.
Raygraph
Any dAPP needs to get historical blockchain data, so RayGraph is ready to let you deploy graphql-based APIs to access historical data and websockets to directly access node ledger state. It uses automated scalable deployments for the Cloudflare infrastructure.
Upload your account's ADA address and a server with the latest version of cardano-graphql and ogmios will be deployed to handle gql queries and websockets. Just use CardanoWeb3.js in addition to populate your dApp!
RayData
RayData is a protocol that standardizes information written to a blockchain. The base model is user-created containers, with write or read access allowed by the creator.
For example, your medical record is always with you: when you visit a new doctor, you can share the historical data needed for your check-up, while the doctor trusts this information, knowing it really is yours.
There can be hundreds of use cases in your daily life, from medical services to car maintenance and a trip to the store. The blockchain era will make your life safer and simpler.
Mintery
Cardano NFT Explorer is simply a tool where you can find NFT diamonds, simple design most looks very promising.
Token Ray Network (XRAY)?
When most services are fully released, the token will be used as payment for these services, such as RayNFT Premium Market Placement, Ray KickStart Placement, Token Mining, will be used as a governance and revenue producing token in RaySwap . Later, Ray will soon announce the Atala PRISM-based B2B solution.
XRAY Key Metrics
- Token Name: Ray Token.
- Ticker: XRAY.
- Blockchain: Cardano.
- Token Type: Utility and Governance.
- Total delivery: 406.152.800 XRAY.
- Circulation Supply: 23.538.200 XRAY.
Is the Ray Network (XRAY) a good investment?
YES, if you deliver all the components of your platform, the project is simply one of the best we've analyzed along with the REVU token. Ray Network has released the functional RayWallet for users to store ADA and XRAY tokens. RayWallet can be used to transfer ADA or bet ADA on stakeout pools. There are some notable highlights from Coin98 for investment considerations:
In the aforementioned Ray Network products, you can see the great ambition of the project. The Ray Network team is trying to build a multifunction DeFi station that has almost all of the DeFi components. This means that Ray Network can have an outstanding team to create so many products, rather than focusing on one or two products.
In addition to RayWallet, other products are still under development. The team needs time to build and assemble all platform components. As per the roadmap, they plan to launch RaySwap and RayNFT in Q2021 2022 and other products in Q2021 XNUMX. This pace of development is common for Cardano-based projects as the Cardano Core Network was launched in September XNUMX .
Ray Network needs to leverage the marketing campaign to attract more ADA holders to its platform. The show launch is a competitive marketing feature for Ray Network, as some other platforms share ADA rewards with their delegates.
XRAY token sale
The RAY Network uses a fair release to distribute 58% of all XRAY tokens to the community for about 3 years. This method allows pool owners to receive ADA rewards for developing the project, while ADA delegates will receive project tokens in return. Therefore, it is considered risk-free, but you must do your research before participating.
To earn XRAY, users can delegate ADA to RAY stakeout pools via RayWallet, AdaLite, Yoroi or Daedalus wallet. Estimated ROI per year is around 5% as XRAY rewards, meaning delegates will receive 1 XRAY per 110 ADA wagered for each season.
Where to buy the XRAY token?
You can earn XRAY tokens by participating in the fair launch program mentioned above. Alternatively, Ray Network plans to distribute XRAY tokens through the Liquidity Providing program and the launch of IDO on its RayKickstart platform.
Conclusion
Ray Network is building a DeFi ecosystem consisting of various DeFi products and blockchain tools which makes it at the time of this article's publication one of the most promising projects developed in Cardano. Which makes it also an ambitious project compared to other cardanos.
If the team delivers all of the platform's functionality in the long term, the project could be very promising for XRAY holders.
