The Rio DeFi wallet interface on a laptop screen

Rio DeFi

Blockchain ecosystem for DeFi applications

About the client

Rio DeFi is a blockchain development company whose mission is to bridge the gap between conventional and decentralized finance and enable digital assets to go mainstream. The company works on various DeFi, NFT, and GameFi applications created on top of their own blockchain protocol.

Details

  • Location:Hong Kong
  • Date:2020-2021

PixelPlex helped the client develop a Polkadot-powered protocol and built a customized blockchain ecosystem around it. We also created and improved new solutions that have become an integral part of the Rio DeFi platform.

Rio DeFi’s global goals

Our client shared the main goals of their project and we identified four directions to our work accordingly:

  • 1

    DeFi

    Empower financial institutions to leverage digital assets and alternative currencies and help their clients manage their funds effectively through easy-to-use solutions.

  • 2

    Web3

    Provide businesses with the tools to successfully transition into a new technological era where decentralization, blockchain, and tokens will be the new normal.

  • 3

    Globalization

    Simplify the use of financial services through apps that will reduce the number of intermediaries and make payments much faster and more conveniently.

  • 4

    Scalability

    Ensure that the developed DeFi solutions are scalable and suitable for mass adoption.

Work done

  • Substrate-based fork for Rio Chain

  • EVM improvement, adaptation, and integration

  • Uniswap-like DEX

  • Blockchain explorer

  • Web3 browser extension

  • Cross-chain token bridge

  • OAuth keyless system

  • RNG system

  • Audit trail system

  • Web and mobile crypto wallet

The Rio DeFi wallet UI: contacts list, withdrawal confirmation, and privacy policy windows

Solution

PixelPlex helped Rio DeFi create and modify the ecosystem infrastructure using the Substrate framework as well as develop new components such as a blockchain explorer, audit trail and RNG systems, a web and mobile wallet, and a Web3 browser extension. Overall, our team deployed 13 smart contracts. These improvements have made the system much more flexible and scalable.

Rio DeFi ecosystem in focus

Rio Chain infrastructure

Rio DeFi’s core technology is Rio Chain — a blockchain protocol initially created by the company. The Polkadot development team modified the protocol by developing a separate fork based on the Substrate technology that Polkadot is powered by, and customized the solution according to our client’s requirements.

Why Polkadot?

  • Allows for cross-chain compatibility

  • Shows great network scalability thanks to its parachain technology

  • Provides a high transaction speed, up to 3,000 tps

The Rio DeFi staking page with the estimated APR and rewards table

EVM customization and integration

Right after the creation of the Substrate fork, we started adapting the Ethereum Virtual Machine (EVM) to integrate it with Rio DeFi.

When we were working on the project, there was no plugin that would easily integrate with our type of protocol, so we made an effort to ensure that the EVM was configured and built in properly.

We did the following:

  • Took the EVM pallet as a basis, created a fork, changed its logic, and reconfigured it to be suitable for the Rio Chain protocol.

  • Integrated the EVM with our blockchain and thus made it possible to execute smart contracts on the Polkadot side.

  • Created a Web3 browser extension to provide an experience similar to Ethereum by signing transactions through a Metamask-like plugin.

The Rio DeFi wallet UI: successful staking confirmation

Web wallet with staking support

The creation of Rio Wallet was one of the biggest and most important parts of our work, as it is the primary way users interact with the ecosystem and its applications.

The existing wallet from the client had only the basic functionality of an ecosystem wallet and experienced several major issues:

  • It did not meet business requirements and had poor UX/UI design

  • It wasn’t secure enough

  • Most of its features didn’t function properly

The Rio DeFi wallet UI: wallet page with balances and transaction history

Consequently, our team needed to redesign the wallet. We changed its logic, created a design from the ground up, added brand new features, and expanded the wallet’s functionality:

Enabled funds transfer, receipt, and withdrawal

We placed the transaction information and the window for transferring and withdrawing funds on the same screen so that the user could track data and use the transfer/receive functions with just a few clicks.

Introduced the staking functionality

We wrote smart contracts and created a staking pool in the wallet. Users can lock their tokens for a preferred amount of time and earn daily rewards.

Implemented multi-chain support

Our developers provided support for three chains: Rio Chain, OKEX Chain, and BSC Chain. Users can choose which wallet and chain they want to use when entering the Rio DeFi ecosystem and accessing its applications.

Integrated HexTrust

Our team introduced this digital asset custodian to provide secure distributed storage of private keys.

Added market data

We integrated the wallet with CoinGecko so that users could conveniently view and track market information such as exchange rates, and as a result make more informed investment decisions.

Enabled dApps support

We added a blockchain-section for dApps where users can check applications based on Rio Chain, OKEX Chain, and BSC Chain and connect to them through the Rio wallet.

Added transaction history

We configured the design so that users could simultaneously view their total balance, locked balance and transaction history. All the necessary information is always at hand.

Made it possible to check balance and currency rates in fiat

Our team added support for three fiat currencies: USD, EUR, and CNY. Users can choose in which currency they want to see the equivalent of their balance and currency exchange rates.

Made the onboarding process easier

We implemented a blockchain-section with explanatory videos and onboarding screens to make it easier and faster for users to learn the platform and start using it.

Blockchain explorer

We forked the existing Substrate Explorer, customized it and added support for an audit trail, a Hybrid Database system, and multi-chains. Now, users can conveniently monitor the Rio network and view important transaction details such as:

  • blue cube icon

    Latest blocks

  • blue circular arrow icon

    Latest transactions

  • blue checkmark inside circle icon

    Status of the transactions

  • blue coin icon

    Fees paid per transaction

  • blue document file icon

    Smart-contract code execution results

  • blue icon of three layers

    Staking details

  • blue magnifying glass icon

    Audit trail statistics

  • blue chain icon

    On-chain statistics

OAuth keyless system

To simplify the sign-in process, we implemented an OAuth keyless system. This allows platform users to create an account and access assets only using their email or social media instead of having to make up and remember passwords.

A KeyStore file with a shield icon
Uniswap and Rio DeFi logos connected with a swap icon

Uniswap fork for crypto exchange

Our team did research and development for a working prototype of the Uniswap-based cryptocurrency exchange that allows for decentralized token swaps.
Thanks to our successful EVM integration and the addition of Web3 support via the browser extension, Uniswap forking did not take much time or require serious code changes. Developers can now seamlessly migrate their dApps to Rio DeFi, while benefiting from a significantly faster protocol.
During this cryptocurrency exchange development process, we implemented the following functions and features:

  • Liquidity pool

  • Polkadot support

  • Web3 support

  • The ability to connect to a wallet before swapping currencies

  • Support for working with assets through precompiles

  • Implementation of wrapper contracts for external tokens

  • The ability to set transaction deadline to avoid long waiting times

Audit trail system

Since the Rio DeFi ecosystem includes many projects and applications that aim to be fair and transparent, it needed its own audit trail system. To make this possible, we developed an audit trail system from scratch.

The system allows any user to check the sequence of transactions and send a request and verify that the Rio DeFi-based gaming app generates a truly random number.

The Rio DeFi wallet UI: password change form and mnemonic phrase window

RNG system

Since the Rio DeFi ecosystem includes many projects and applications that aim to be fair and transparent, it needed its own audit trail system. To make this possible, we developed an audit trail system from scratch.

The system allows any user to check the sequence of transactions and send a request and verify that the Rio DeFi-based gaming app generates a truly random number.

  • Fair

  • Verifiable using cryptographic proofs

  • 100% random based on unique entropy

The components developed by our team for the Rio DeFi ecosystem are vital for both users and dApp developers. Now users can enjoy reliable and fast transactions and are able to check how fair an operation was. Meanwhile, developers can create their own dApps without having to completely rewrite the code or build solutions from scratch.

Tech stack

  • Polkadot icon
  • React icon
  • Rust icon
  • Python icon
  • Solidity icon
  • Substrate icon
  • Redis icon
  • MySQL icon
  • PostgreSQL icon
  • Docker icon
  • GitLab icon

Project features

  • A blue icon of an infographic
    High scalability achieved through Polkadot’s parachains
  • A blue icon of scalability
    High transaction speed
  • A blue icon of a data list
    EVM compatibility
  • A blue icon of a decentralized scheme
    Web3 support
  • A blue icon of a gear
    Fair, transparent, and verifiable transactions
  • A blue icon of a gear on a mobile display
    Enhanced blockchain platform statistics
  • A blue icon of a shield with a checkmark
    Easy wallet authentication