Relite Completes IDO on Ignition & Proceeds with Listing on Uniswap

By Press Release

[PRESS RELEASE – 18 May 2021, Tallinn, Estonia]

Relite Finance, a cross-chain DeFi lending protocol, has announced $RELI trading opening on Uniswap after the successful completion of an IDO on PAID’s Ignition Launchpad. Both available RELI (Relite’s native token) pools were filled within the first several minutes, following the high level of community interest shown during the whitelist subscription period. As was the case with the preceding private sale, the Relite Team has reported a 100X oversubscription.

The most vital highlight of the launch day was the RELI/ETH pool opening on Uniswap, the world’s leading decentralized exchange. Uniswap became the first platform to open the pools, which gave retail users the ability to buy RELI.

The phenomenal community engagement levels turned into, unsurprisingly, high trading interest. During the first 24 hours, the trading volume exceeded the $17 mm benchmark with almost 3k transactions conducted.

The first several hours of trades were marked by the #2 trending position on the hotlist. The growing Relite community rallied around this achievement.

When reached for his launch day impressions, George Groshkov, Relite CEO & Founder, has underlined the significant effort already made by the project’s team & community while being optimistic about their upcoming developments.

“Today’s success is truly proof of the terrific work done in the last few months, but we have even bigger ambitions for the next several quarters. Literally, I mean the MVP, the platforms roll out, and, surely, new exchange listings, which are already being negotiated. I want to thank everyone for keeping an eye on Relite and assure them of the continuous development ahead. “

About Relite Finance

Relite Finance is a cross-chain DeFi money market protocol that enables users to lend, borrow, and stake all crypto assets in one interface by utilizing Polkadot’s Moonbeam Parachain, bridges, and a unique reserve fund module. Relite plans on creating interoperability with Bitcoin, Ethereum, and other blockchains. In addition, Relite plans to implement collateralization of NFTs, offering better fees and usability than other protocols.

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