DISCLAIMER: I am not the founder / owner of the Radit project. You can find all the official information on their website (https://www.radit.io/)
What is Radit?
Radit is a community-owned investment message board created by CaviarLabs. CaviarLabs is a team of four guys who are dedicated to provide high quality services on Radix. They are the creator of the FLOOP token, the CaviarSwap, and they also maintain a few validators.
On Radit, you can do multiple things. You can create your own post (with whatever content you like) or you can invest in others post. For these actions, you receive the platform native token, RADIT. The cool thing about the platform is that every invested XRD is sent back to the community at the end of the day.
How does Radit work?
When you post a message, you send a specific amount of XRD which is the initial āworthā of your post. If other people invest in your message, you will start earning rewards on your message! Initially, you own 70% of your message.
If you decide to invest in others messages, you will start earning rewards when anyone invest in that message again.
30% of every message posted on Radit is owned by the community. This means, that 30% of the total investment is sent back to the community. The amount you receive is depending on the amount of RADIT token you hold. You receive RADIT by contributing to the platform, or you can buy RADIT directly from others.
What is the total supply of RADIT?
RADIT has a total supply of 100,000,000. 65M of the total supply is being airdropped to the RADIT token holders. For the full tokenomics, head over to the Tell me more / Radit Token section on the page.
How to post a new message?
Details are available at the Tell me more / How to post section. You need to send your chosen amount of XRD and your post message in the message field of the wallet. The address to send to is their RADIT wallet address.
How to invest in an existing message?
If you click on the chosen message, there will be an Invest button which shows you the detailed instructions. You need to open your wallet, set the correct address, the amount you wish to invest (you will see your ownership of the message), and the message. Make sure to copy these details from the site! If you make a typo in the message for example, a new message will be created on the platform.
You can also comment to each and every message by clicking on the How to comment button in the message page. You need to add your comment as a message, and you also need to send any amount of any token. (They are not returned, so only send small amounts / tokens you donāt need!)
Radit is a fun, and addictive way of spending your time. By holding a lot of Radit, you generate yourself a great passive income every day by receiving XRD. I truly encourage you to give it a try. If you have a question for the Team, feel free to reach out to them in their official Telegram group.
Excuse my ignorance, but Iām not clear about how this āinvestment messageā works. From my understanding, you create a message and then people āinvestā in your message. All of the investors then get a share of the total amount invested, and at the same time later investors will fund the rewards for earlier investors (?)
Yes, if you look at that aspect only, that is basically a definition of Ponzi, which I agree on that it sounds kinda negative.
However, I think it is still a great project on Radix and worth introducing it here, since:
a really great community built around it, many people use it everday (check number of posts each day)
as stated in the topic opener, you get RADIT which gives you passive income
creative and fun way to spend your time
From my point of view, every project now that brings the community together = brings value, considering the fact that Radix is really unknown in the crypto space. We should grab every oppurtunity to gain new people at this stage IMO.
I think that big Radit investors will stop throwing XXXX amounts when there is no more Radit distribution.
Although I guess people will still play with it. Caviar team is constantly adding new features so I guess Radit will survive even when there is no more Radit to get just by investing.
@TamasH@Wagtail I understand your point of views, and I think you both have highlighted some interesting point to keep debating on.
Maybe Iām ignoring an important aspect of Radit: now - as @TamasH mentioned - itās just a creative and fun way to spend our time. But whatās the fun behind a message investment?
@Wagtail Completely agree, I also think that the value will gradually go down. Moreover, my question is: Who decides that a message is really worth investing?
Neverthelessā¦ Although now it seems like a Ponzi, in a near future it would be great to take advantages from Raditās large inflow of people so as to use it as an ad board for Radix ecosystem projects: the more people pay for their ad/post, the higher the visibility for them.
I donāt really believe in his scheme, I mean when we compose a message we have to send some money there, a small amount and Although I think itās also a bit funny for this multilevel money-raising scheme, itās still a little scary because it has no other function than stacking messages over it.
Yes, thatās what they actually sound like PoNZI, although I think this project is carried out by the same team as floop and caviar, I feel they are very hard at trying to sell their many products. Iām a little bit against someone who builds too much because it will be difficult to maintain in the future.
Maybe I really like the hashtags āI want Ociā or āOciswap Meowā , and āscorplifeā.
Behind it all Maybe also appreciate their unique project, and hopefully they are strong and donāt leave us.
Information for those wandering what will happen to this project later on: CaviarNine expected to airdrop all RADIT by the middle of October and they plan to introduce new utility to this token. (Community, Auctions menu on the webpage, and there will also be 2 new projects yet to revealed to this token)
Thanks for all your inputs, and concerns. The Team already read this thread, and if they have anything to add, I think they will be happy to do so.
?
