Singapore, Aug 02, 2022, ZEXPRWIRE, BinaryX, a leading P2E game development company, has released the official whitepaper for Rh!noX, a collection of 10,000 NFTs enabling holders to use their assets as avatars on various GameFi and DeFi applications on the BNB Chain.
The Rh!noX NFT series gets its inspiration from Soulbound items in the World of Warcraft game and aims to be the first-ever Soulbound Token on the BNB chain. Moreover, the collection links the holders’ NFTs to their interactions, thus developing them into unique assets. Above all, it provides them with numerous perks, such as access to beta tests for games, NFT whitelists, projects, new tokens on BNB Chain, and more.
The team spent several months improving the project’s vision and roadmap, now available in a new and enhanced whitepaper. For the first time, readers can explore the full functionality of Web3.0 and understand the underlying mechanisms, possibilities, and features of Rh!noX. Here’s a short summary!
The Rh!noX Soulbound Token Analytic System
This feature will calculate the credit score of a wallet depending on its owned amounts and trading history. It works similarly to a credit card company’s standard credit calculation system. Simply put, it determines the perks a user is eligible for, depending on his creditworthiness.
The system will categorize Rh!noX owners into different tiers with distinct benefits. For example, members of the highest tier will enjoy more perks than those in the levels below, with the number and quality of perks decreasing with each tier.
A good credit score will reward NFT holders with numerous advantages, such as:
● VIP treatment
● Exclusive Airdrops
● Airdrops from different projects
● Closed-beta entry/Early access to DeFi project/Whitelist Slot
● Discounts on processing fee
● Unsecured Loan ($RUSD)
The latter is a loan that doesn’t require collateral. Also, the maximum amount a user can request depends on their credit rating. The initial fund for the unsecured loan will come from Rh!noX Treasury and represents the income from selling Rh!noX NFTs. Lastly, the loan amount will affect the interest rate and will be collected in $RUSD.
Trading Rh!noX NFTs will not impact the credit rating of their respective owners. Furthermore, the accumulated credit score is connected to an Rh!noX NFT and could be transferred to another user.
Multidimensional Behavior Analysis Model
The system has an in-built cohesive analysis model studying the NFT owner’s characteristics, personality, and reliability. To reach this conclusion, the system will consider the wallet’s address and interactions, such as:
● Trading History
● On-chain Behavior
● Project Preferences
● Asset Portfolio
● Liability Status
● Attended Campaigns & Events
● Airdrops History
Ultimately, this list will expand to include more factors without sacrificing the anonymity of web3.0 technology. Here is a use case of this analysis model.
With Rh!Drop, developers can target on-chain users depending on asset values, interests, trading styles, credit ratings, etc. This feature will be an on-chain airdrop targeting service and the primary tool of on-chain project developers. For example, they can use it to deliver airdrops to target receivers matching specific criteria.
To better understand the idea, think about Google Ads. Google Ads distributes customized advertisements to selected users based on their past behaviors on the internet. The suitable ads will be served to the right target audience. Rh!noX works similarly.
In simple terms, this does not only benefit project owners but also every user on Web3. Project owners & developers could improve their project awareness and expand their communities easily after identifying the right audience for their projects. At the same time, common users would enjoy the airdrops from different projects or even early information without having to do any additional tasks as long as their overall credibility and ‘personal profile’ are good.
Sociality of Rh!noX NFT
The project also comes with various social features, such as:
Rh!noX Official will verify the individuals’ background. Also, it will allow users to identify the other person’s trustability depending on the data the Soulbound Token collects. This way, future Web3.0 users can visit the profile of a wallet address and identify essential details, such as capital level, project preferences, active areas, trading style, etc.
This tool also eliminates fake IDs, false claims over assets, and more. Its level of transparency will be accessible to everyone. For instance, if a user has more than 10,000 $BTC in a wallet, it will receive the “BTC Whale” title, which should tell developers everything they need to know about this individual.
This feature will operate like a web3.0 networking platform, enabling users to check someone’s profile, social status, social network, send instant messages, etc. Its main goal is to help users connect and build a community on transparency, credibility, and high-quality identity.
Up to this day, Rh!noX has achieved the following achievements after its first auction sale:
Rh!nox: Sold out in Dutch Auction
- Sold out 10000 units at 9BNX in 4 hours
Rh!nox: Most-traded NFT Collections On Binance NFT Marketplace
- Listed in June and achieved $1.5m trade volume in the last 7D
Team Rh!noX has extensive experience in the blockchain industry, traditional game development, and game publishing (learn more about BinaryX). The core team members are from Silicon Valley and participated in the development of the early BNB Chain and Polkadot chain and have made outstanding contributions to the development of the industry.
One thing worth mentioning is that before entering the blockchain industry, the team has worked in the financial services industry that provides loans, mortgages, and wealth management services for many years. Backed by this unique experience, Team Rh!noX fully understands every financial feature of NFT and lays a good foundation for the real life application of Rh!noX NFT.
Team Rh!noX holds a firm conviction that there is a huge and undiscovered space for what NFTs could become and that NFTs should have more than just showing artistic value and signaling wealth.
It was when the team couldn’t stop questioning themselves: What if NFTs could work as certificates? What if NFTs could represent one’s credibility? What if NFTs could work like a Digital Mastercard? What if Rh!noX could build the foundation of social relationships of trust? By solving these questions and putting these ideas together, a wider door will be opened to blockchains, and the ecosystem will become more than just about money, but trustable and fun to stay in.
Despite the bearish market, the team believes it is the right time to develop and expand the project to benefit its users. To this end, they added new members and planned future collaborations with other projects to increase the practicality of the Rh!noX ecosystem and beyond. As a result, Rh!noX stands out from the growing crowd of NFT projects, which often lack utility and long-term sustainability.
BNB Chain is just a beginning. Rh!noX’s utilities aim to cover the entire Web3.0 in the future, not just on the BNB Chain, as it’s the only way to maximize the functionality of Soulbound NFT.
For more information about Rh!noX, please follow the links below:
Name: Chun B
E-mail : email@example.com
The Post BinaryX Releases Rh!noX Whitepaper Detailing New Key Features of its Ecosystem appeared first on Zex PR Wire
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Boston New Times journalist was involved in the writing and production of this article.