If you have not read the blog post explaining RSDs and the Relative.fi platform, or just want to learn more about the Relative ecosystem, here’s a link to the blog from Relative’s open beta launch day.
We are excited to announce that Relative’s first product - Peer-to-Peer Relative Value Wagers - has launched its Open Beta on Arbitrum this week!
So far, over 3500 wallets from the Polygon community have participated in the quest campaign live on zealy.io (check out the quest dashboard here) with more than 100,000 XP earned. Additionally, the first snapshot and distribution of the xRLTV token was successfully completed last week with over 2500 wallets receiving tokens for XP earned by completing daily quests on the Relative Polygon dApp.
The goal behind this open beta is to give community members a chance to explore the platform, provide feedback, and help the Relative ecosystem iterate and work towards a highly polished suite of decentralised derivative products to be released on dApp MainNet launch.
Why Arbitrum?
While Relative will continue building and growing on the Polygon chain, the plan has always been for all of Relative’s dApps to be multi-chain. Launching on Arbitrum is the first step in this direction.
Arbitrum’s thriving ecosystem, coupled with its active and passionate community of DeFi natives, makes it a perfect match for Relative’s SocialFi product, giving community members the opportunity to monetise their beliefs and speculate on the ‘relative value’ of their favourite projects.
Arbitrum also has a strong track record in onboarding some of the biggest DeFi projects, providing reliable infrastructure for builders, fast transaction speeds and low-costs for dApp users.
Community Incentives
5 Million RLTV (0.5% of total supply) has been initially allocated for the Arbitrum community. Early adopters of the Relative dApp on Arbitrum have the exciting opportunity to earn xRLTV (an IOU token for RLTV - Relative’s native token) by completing quests, participating in competitions and being actively involved on Relative’s social media channels.
Relative Finance already has a quest campaign running on Zealy for early adopters, which can be accessed here - community members can now complete quests on either the Polygon or Arbitrum chain and earn XP. Every 10 XP earned on Crew3 will be converted to 1 xRLTV (xRLTV can be swapped 1:1 for RLTV at TGE).
As Relative is still in beta, all wagers are made using RUSD - a non-transferable testnet stablecoin with no real value, created purely for the Relative beta users. Simply use the faucet available on the Relative website to mint RUSD and begin exploring the dApp.
What is the Peer-to-Peer (P2P) Relative Value Wager?
Detailed information on the Relative ecosystem and the P2P Relative Value Binary Wager can be accessed here.
P2P Relative Value Wagers allow speculators to predict whether one asset will outperform another within a given time frame. Users backing the winning asset receive double the amount they wagered with the opposite side losing the entire amount wagered.
There’s over 150 assets currently whitelisted on the dApp - allowing users to create over 10,000 combinations for asset pairs.
Check out the explore assets page on Relative to learn more about whitelisted assets.
Users can speculate across all asset categories in the peer-to-peer market - making Relative one of the first platforms to offer cross-asset speculation!
Numerous synthetic crypto indexes have also been created and listed on the platform, allowing participants to speculate on the relative strength of each index (for example: Metaverse index vs DeFi index, or Polygon ecosystem vs Avax ecosystem).
New assets and asset classes that meet prescribed criteria will be whitelisted for the peer-to-peer market, with the Relative DAO eventually being responsible for governing the platform.
There’s lots more planned for the Arbitrum community, so make sure to join Relative’s Telegram, Twitter, and Discord and get involved. Subscribe to our Mirror and stay tuned for more updates from Relative.