Frequently Asked Questions (FAQ)
This section addresses some of the most common questions and concerns related to the RIME protocol.
1. What is the RIME protocol?
RIME is a decentralized lending protocol that allows users to obtain interest-free loans in RUSD by depositing CFX as collateral. It is designed to provide users with financial flexibility and facilitate the growth of the Conflux ecosystem.
2. How does RIME differ from Liquity?
While RIME is inspired by Liquity, it has several key differences. RIME allows users to deposit both CFX as collateral to obtain RUSD loans.
3. What are the collateral requirements for RIME?
The minimum collateralization ratio for RIME loans is determined by the protocol's governance. Borrowers must maintain this ratio to avoid liquidation. Please refer to the RIME Protocol section of the documentation for more details on collateral requirements.
4. What is the role of the RMT token?
The RMT token serves as a means for users to share in the rewards generated within the RIME protocol. By staking RMT tokens, users can earn a portion of the rewards generated through liquidations.
5. How are RMT tokens distributed?
RMT tokens are distributed through various mechanisms, including the Stability Pool and staking rewards. Users can earn RMT tokens by participating in these activities and supporting the RIME ecosystem.
6. How do I manage my collateral in the RIME protocol?
Managing your collateral in RIME is essential to maintain a healthy collateralization ratio and avoid liquidation. You can add or withdraw collateral by accessing the RIME platform's borrowing interface. Make sure to monitor your collateralization ratio and keep it above the required minimum level. For a detailed guide, please refer to the "How to Manage Collateral" section of the documentation.
7. What wallets are supported by RIME?
RIME protocol supports several popular wallets, including Metamask, imToken, and Fluent Wallet. These wallets enable users to interact with RIME's smart contracts and manage their RUSD loans, collateral, and RMT staking.
8. How do I stake RMT tokens?
Staking RMT tokens is a simple process that involves connecting your wallet to the RIME platform, navigating to the staking interface, and depositing your RMT tokens. For a detailed guide, please refer to the "How to Stake RMT Tokens" section of the documentation.
9. How can I track the performance of the RIME ecosystem?
Various explorers and data providers, such as ConfluxScan, CoinGecko, and CoinMarketCap, enable users to monitor the RIME ecosystem's key metrics and transactions. Additionally, community-built tools, such as dashboard and analytics tools, can provide valuable insights into the RIME ecosystem.
For more information and updates about the RIME protocol, visit the RIME platform at https://rime.finance.