Introducing Reflect.All (RFIALL)

4 min readDec 12, 2020

Reflect.All

RFIALL is an innovative fork of Reflect.Finance (RFI) that aims to incentivize holders with 10x the amount of rewards compared to RFI.

At its core, RFIALL charges a 10% transaction fee, otherwise known as a tax, and re-distributes that tax to existing RFIALL holders instantly and automatically at the time of each transaction. There are no extra steps needed, simply hold the coins in your wallet and your balance will increase.

Unique features of the RFIALL smart contract allow certain addresses like the Uniswap pool or exchange wallets to be blocked from earning fees.

Because of this, 100% of the fees generated go to holders of the token. The percentage of fees you earn is calculated by the percentage of the RFIALL network you own. This generates a much higher yield than would otherwise be possible, with 0 inflation and no rebases.

There is no team or central party that has to award the fees. There is no interface to claim the fees. No action needs to be taken on your part other than to hold RFIALL in a wallet you control. No human will ever have control over the pay out of rewards.

The Problem

A large majority of DeFi projects require trust in a central party and interaction with complex, buggy, and easily hacked contracts.

Rewards for interacting with these contracts often come from the minting of new tokens, complicated rebasing mechanisms that are prone to bugs, or highly inflationary farming that either require minting or one wallet to hold a massive supply of the circulating coins.

Developers who design and implement these economic reward mechanisms typically have no expertise in economics and have every incentive to run away with the money, otherwise known as a rug pull or exit scam.

This places an enormous amount of risk on individuals that choose to interact with DeFi smart contracts. For simplicity, lets break down some of the different kinds of risk accepted by your average DeFi participant:

Price and Market risk: Price movements of a specific token or the market as a whole that negatively affect the token holder.
Trust related risk: Individuals or teams behind a project performing actions that negatively affect the token holder (rug pulls, large token unlocks and dumps, etc..)
Security risk: Vulnerabilities in smart contracts or interfaces that the token holder interacts with.
Economic Design risk: Tokenomics that are poorly designed and unsustainable.

The Solution

RFI was originally designed to reduce or eliminate these risks, and RFIALL builds upon that with even more rewards to holders and the opportunity to participate in the ecosystem early at a tiny market cap. Lets look at how RFIALL reduces each of the risks mentioned in the previous section:

Price and Market risk: These risks come with any free market. Anyone claiming to guarantee a specific yield or eliminate this risk are lying to you.
Trust related risk: No airdrop, and only a tiny pre-sale with a 50 ETH hard cap and the same pricing for everybody. No vaults or treasuries. No community funds that could be mismanaged. No website or interface is required for the token to function. As long as Ethereum exists, RFI fees will be generated and distributed with each transaction. The team holds 0 tokens that they didn’t buy on their own in the open market.
Security risk: Because fee generation AND distribution is baked into the core smart contract, security risk is greatly reduced. No external contracts or interfaces need to be interacted with in any way.
Economic Design risk: RFIALL has a fixed supply cap of 10M. The yield comes from transfer fees instead of newly minted tokens or transfers from a central wallet. As you earn fees, the percentage of the total supply you own is increasing. Earning network fees is an established and tested method of earning yield.

Opportunity Cost or why there is none here

Beyond the extreme risks involved with DeFi, individuals typically must stake or lock their tokens in a contract to earn a yield. There is a massive opportunity cost associated with this as participants could be using their locked tokens to earn a yield some other way but are forced to hold them in a contract.

Lets look at how RFIALL addresses opportunity cost.

RFIALL fees are awarded automatically and do not require any interaction by the holder in order to earn fees. This allows RFIALL to be used in any other smart contract in addition to earning yield from the transaction fees.

To facilitate this, the RFIALL smart contract exposes some innovative methods that allow other smart contracts to easily determine the fees earned by each address for any period of time even when funds are pooled together. This is a huge leap in DeFi that enables the direct staking of RFI and double yield generation.

For example, you could lend your RFIALL on a third party app and earn a yield from that while still earning fees from RFIALL transfers. The lending contract could use RFI’s new methods to easily determine the fees earned on the amount you provided during your interaction with the lending contract.

RFI pioneered these innovations, and RFIALL builds upon them while providing much more lucrative incentives to holders.

A word on the developer

The primary developer of RFIALL wishes to remain anonymous for now, but he is currently a team member for a large DeFi project with a fully public team and has connections through the crypto developer community. He received 0 tokens.