Ray Network Vision 23'

XRAY | Network
11 min readMar 1, 2023

Summary

After long days of exploring Cardano’s blockchain capabilities, after studying market requirements for decentralized projects, as well as the requirements of advanced and casual users, we are pleased to provide the public with our final Ray Network’s ecosystem vision. Our main goal, as before, is to adapt blockchain solutions for everyday use by both experienced and ordinary participants who are not very familiar with the techniques and terms of blockchain ecosystems.

To achieve our goals, we began by dividing the market functionality of decentralized applications into groups of projects that are derived from one another and complement each other, rather than piling the functionality into a single mega-application. We chose the functionality that covers 80–90% of all cryptocurrency users’ needs for 2023 — our conclusion is that tokens exchange and, less popular, tokens creation are two of the main requirements that currently define the proficient standards of any DeFi ecosystem.

We identified three groups of applications:

  1. Token exchange with different execution parameters: RaySwap, RayStake, RayPad
  2. Interaction: RayWallet, CardanoList.io, Minterr.io, RayData, Pigz.io
  3. Development tools: RayGraph, RayWeb3.js

The first group consists of applications the essence of which is the exchange in one way or another with different execution of orders. The second group are applications that allow interaction and exploration of the Cardano blockchain data. The third is the necessary development tools, such as blockchain indexing, building universal APIs, interacting with crypto-primitives and generating Cardano transactions.

All applications are built according to the Mobile First principle and are developed as PWA applications: with the ability to use both in a web browser and to install as a desktop or mobile application. We tried to make our approach modular so that any new functionality shall be added seamlessly either as a separate PWA application or as a simplified DApp in RayWallet.

Tokenomics

To be commercially successful and make sure the development continues to be properly funded, we integrated the XRAY and XDIAMOND tokenomics into our ecosystem. Blockchain has given us a unique opportunity to fund development and maintain operability through “keys” (tokens) to various features of our DApps.

Below we describe what functionalities the XRAY and XDIAMOND tokens will open access to; in generic terms it is as follows:

  1. XRAY (feature purchase): purchase of placements (e.g. creation of a pool in RayStake), as well as the purchase of premium subscriptions on a temporary basis for the owners of certain projects.
  2. XDIAMOND (feature enhancement): total removal of any commissions for Ray Network ecosystem users, and if this token is present in the interacting wallet, additional array of boosts will be enabled in the future enhancements to various ecosystem features (such as Pigz.io). As a small bonus XDIAMOND owners will also have a unique RayWallet interface design :) .

RayWallet

RayWallet is a versatile, lightweight wallet with account management capabilities and DApps connector. This wallet will allow you to conveniently store your assets, keep track of all balance changes, and help you track token prices and NFT collections. RayWallet will be available as a chrome extension, as well as an adaptive PWA app, with the option to install on desktop or mobile.

RayWallet also works with hardware wallets such as the Ledger Nano S/X and Trezor Model T.

Paid Features:

  • XRAY: none;
  • XDIAMOND: owning will open up access to a unique interface design.

RaySwap

RaySwap is an AMM decentralized exchange with the ability to trade both fungible and non-fungible type of tokens. An important feature is the ability to use concentrated liquidity (specify price ranges for order execution). As well as staking LP tokens on RayStake (in case someone has created a pool there with the appropriate settings and uploaded a token to it for distribution). Commissions from trading are distributed between the owners of LP tokens by automatically adding this commission to the pool.

Paid Features:

  • XRAY: buying a premium subscription (this is a way for project owners to draw attention to pool with their token);
  • XDIAMOND: owning XDIAMOND removes all commissions and fees.

RayStake

RayStake is a decentralized solution for creating staking pools and then distributing tokens according to set parameters, there will be four types of pools in total:

  1. Native ADA: normal ADA staking in SPO pools;
  2. Token Pool: stake on a token and be rewarded with another token (or the same token) according to specified parameters (a liquidity locking tool);
  3. ADA Pool: stake ADA and be rewarded with another token and Native ADA ROI. Each such ADA pool re-delegates the ADA to a given SPO pool (this type of pool is suitable for holding ISPOs);
  4. RaySwap LP Pool: stake RaySwap LP tokens and get rewarded with a set ROI.

Paid Features:

  • XRAY: сreating a pool; buying a premium subscription (this is a way for project owners to draw attention to pool with their token);
  • XDIAMOND: owning XDIAMOND removes all commissions and fees.

RayPad

RayPad’s mission is to ensure fair token distribution and price discovery for projects built on Cardano. It is a completely permissionless launchpad platform that allows projects to launch their tokens without any liquidity with the best price discovery.

Paid Features:

  • XRAY: сreating a launch; buying a premium subscription (this is a way for project owners to draw attention to pool with their token);
  • XDIAMOND: owning XDIAMOND removes all commissions and fees.

CardanoList.io

The fullest list of projects and tokens for Cardano. Finding and tracking the projects you want is now easy! Price tracking is available for all Cardano DEXes.

Paid Features:

  • XRAY: buying a premium subscription (this is a way for project owners to draw attention to pool with their token);
  • XDIAMOND: none.

Minterr.io

Minter is a non-custodial solution for minting and launching NFT token collections in a fully decentralized way. Our solution takes advantage of unique opportunities for NFT collection owners to manage them flexibly and with a large number of customizations.

Paid Features:

  • XRAY: creating a launch; buying a premium subscription (this is a way for project owners to draw attention to pool with their token);
  • XDIAMOND: none.

Pigz.io

Play an exciting game based on Cardano blockchain: make moves, win battles, get collectibles, create clans and engage with the community. The world of piglets is open to those looking for bright adventures and exciting journeys on the virtual island of PIGZ.IO!

At this point, we don’t want to reveal all the mechanics of the game. But in short, it will be a multiplatform turn-based strategy with unique combat characteristics based on the Layer 2 solution.

Paid Features:

  • XRAY: TBD
  • XDIAMOND: TBD

RayData

RayData is a protocol that standardizes information written in a blockchain. The basic model is data containers that are created by users, with write or read access allowed by the creator. Management of private information is made easy with Atala PRISM.

Paid Features:

  • XRAY: TBD
  • XDIAMOND: TBD

RayGraph

The RayGraph is ready to let you deploy graphql-based APIs to access historical data previously indexed by subgraph protocol. By combining with RayWeb3.js library, developers can build dapps with powerful new features for solving the world’s greatest challenges.

In the first phase, it will be a set of free APIs, such as getting blockchain data and other data related to the RayNetwork’s ecosystem, price tracking on the popular Cardano DEXs, and so on.

Paid Features:

  • XRAY: TBD
  • XDIAMOND: TBD

RayWeb3.js

Our open-source JavaScript (TypeScript) library contains modules for generating Cardano cryptoprimitives, as well as methods for retrieving data from cardano-graphql stack, which together give a powerful developer’s kit for any third-party application.

We have included in this library everything you need to quickly start developing decentralized applications on Cardano.

What’s Next

According to the plan, in the near future we are waiting for the release of RayStake, follow us on social networks not to miss this event. Around the same time, a new version of RayWallet (with DApps connector and HW support) will be presented to the public.

As we go forward, you can get ROI by providing XRAY/ADA liquidity on Wingriders. As of March 1, 2023, the ROI is 53.908% (subject to WR boosting).

The rest will be developed according to the roadmap, so stay tuned, this year will bring us a lot of good news!

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XRAY | Network

An advanced DeFi ecosystem for Cardano blockchain platform