REI Network is an EVM-compatible public blockchain. As an Ethereum para chain, it owns the features of lightweight, free and dev-friendly. REI Network is to effectively solve the current high cost and low-efficiency problems of public chains. Therefore, REI Network can achieve free, low-cost development, and rapid migration of applications, and can be shared and symbiotic with the EVM ecosystem, also supporting the development of DeFi, GameFi, and NFT.
REI Network is constructed by the lightweight code which is based on LibP2P, EVM, Express, GRPC, and other open-source projects, providing a more convenient development environment for attracting Web2 developers to join Web3 with a low threshold.
Compatible with EVM, REI Network is able to facilitate the migration of on-chain applications of other EVM public chains. At present, assets on the REI Network chain have been interconnected with Ethereum through Multichain (previously Anyswapand Cbridge.
PoS consensus mechanism adopted by REI Network can also greatly improves Network expansibility while ensuring security greatly.
The FREE economic model of REI Network allows users to obtain free on-chain resources by staking $REI, which reduces on-chain transaction costs and saves a lot of money when users use GameFi projects with high-frequency interactions.
Last but not the least, REI Network not only sets high ecosystem grants to attract high-quality projects but also actively cooperates with game studios to improve the quality of on-chain games.
A review for newcomers on #REINetwork 2022
78+ new partners were added
2022 has been an awesome year for REI Network ecosystem and we are looking forward to a productive 2023
We keep building and bringing the best to #web3 $REI #Crypto #REI pic.twitter.com/5mN0jccyex
— REI Network｜From #GXChain! (@GXChainGlobal) January 26, 2023
REI Network officially announced in December 2021 that 150 million $REI will be invested in ecosystem recruitment, accounting for 15% of the total tokens. After the release of the ecosystem incentive plan, it has received strong responses from the developer community.
Hundreds of projects have been REI Network’s ecosystem partner in just a few months, and after a multi-dimensional assessment, the first batch of Grants have been distributed in 2022.
REI Network team will assess the three core dimensions of the protocol for Grants distribution:
Total Value Lock (TVL)
The migration project can be evaluated from the following aspects, and the corresponding standards for specific projects are different, the requirements below are not the only assessment method. For the DeFi project, priority is given to evaluation based on the TVL realized after migrating to REI Network.
Secondly, it can be evaluated according to the weekly on-chain trading volume. Projects like Gamefi will be evaluated according to the number of on-chain users on REI Network.
For REI Network native projects (projects originally developed on REI Network), they will be evaluated on the following aspects:
- Whether there is a successful crypto project development experience
- Time after product launch (within 1 month, 3 months, 6 months, 1 year)
- The effect after the product launch (refer to the evaluation standard of the migration project)
- Stable operation status of the product (team stability) 5. The ability of Regurgitation-feeding to REIcosystem
And other standards to classify the protocols, and open the application for REIcosystem Grants. The link to the apply form is as follows: https://reinetwork0.typeform.com/ApplyforGrants?typeform-source=www.rei.network
As REI Network, which has identified its target audience as billions of Web3 users since the year 2020, it has maintained continuous attention to the market trends and technology trends of public chains.
In 2023, REI Network Foundation will make efforts in ecosystem cooperation, super node elections, community user education, technical exploration, etc., but its ultimate mission is to develop the ecosystem, promote the decentralization of REI, and gradually become a community-owned ecosystem.
For more information and updates, please follow their official Twitter channel.