RIAT CLOUD WHITE PAPER

What are riats?

Riats are fiat (shadow) tokens backed by a decentralised usd reserve. Riat is an acronym for Reserve fiat Tokens. The usd reserve (the reservoir) is managed via a decentralised contract. This contract ensures any reserve contribution is only accessible by the contributor.

Rationale?

The Heavily centralised Forex trading sphere accounts for trillions of Dollars in trade yearly. None of this trade success has been transferred to the crypto space because of lack of representation for most, if not all national currencies with exception of the Dollar. The Riat project will mint a Riat for each currency in existence. An R will be appended to the national currency to assert its reserve status as a riat. so the EUR will have EURR, the CAD CADR etc. Riats are bringing money exchange and trading into the blockchain. Riats will not make anyone rich BUT are designed to facilitate Fiat forex swaps on the uniswap network without having to worry about liquidity of the token. For this reason all created uniswap V2 tokens will be burned.

Riats are built upon the premise of transitive trust. If EURR is backed by USDR and USDR is Backed by USDT and USDT is backed USD , then EURR is backed by USD!. Riats are backed by USDR which is in turn backed by stablecoins which are pegged or backed by the dollar! Theoretically, riats are backed by USD. Every Fiat currency in the world will have a riat contract deployed for it. $10BN USD worth of the currency will be minted at the market rates on the date of minting. The minted coins will be moved into a Uniswap pair against $10BN USDR and all the issued UniV2 liquidity tokens burned to ensure liquidity forever. This process will be baked into the Factory contract!

Reserve Riat (USDR)

USDR is backed by Stable coins in the decentralised reservoir. The contract holds the stable coins and issues USDR in a 1:1 ratio. You can withdraw your held stable coin anytime by returning the USDR. issued. This guarantees that if you choose to support this ecosystem, you can never get burned! Other riats are backed by this USDR at an exchange rate determined on the date of minting. The riats are held in exchange pairs created at uniswap and all the uniswapv2 liquidity tokens burned permanently. USDR will not be distributed or presold and can only be accessed by contributing to the reservoir. only 1M$ will be sent to localriats.com (see section below) fees address to cover traders fees so that riats can be swapped at a 1:1 ratio for cash.

Base Riats

(EURR,JPYR,GBPR,CHFR,CADR,AUDR,NZDR,CNHR,HKDR,KRWR) PRESALE These will each be minted worth $50BN USDR in value, except for EURR which will have $100BN . The presale proceedings will go towards liquidity for a uniswap pool for the Riat against the USD (DAI and USDT); 10% of the reserve value will be awarded as rewards to the reservoir contributors. So if you hold 1000$ in the reserve, you will receive 100$ worth of each minted riat. Lets take an example of how JPYR will be minted. Let assume a presale of 1M$ USD was made. at time of writing the rate is 1 USD == 104.2 JPY. So if we were minting at this rate, we would mint $50BN worth which is 5,209,950,000,000 JPYR. we will also mint $2M ==>208,400,000JPY, $1M == 104,200,000JPY (plus any awarded discounts) which is sent to the presale contract for users to redeem, The balance will be moved with the presale proceedings to uniswap pools. All the minted tokens (5215160000000 JPYR) will be moved to USDR-JPYR LIQUIDITY POOL against $50BN USDR and the liquidity tokens Burned. The $1M will be sent to localriats.com contract. for trader fees and to establish the uniswap pairs for the coin against the DAI and USDT When Trading Starts, all the JPYR will be in circulation. All of it will be in the Uniswap Pair at approximate market prices. This may vary as the market prices change

All the the other Riats

(each $1BN USDR in value ) for Other Nations will be distributed via presale and rewards. The presale will be used to raise funds for uniswap liquidity of the pair against the USD. Also 10% of the reserve value will be awarded as rewards to the reservoir contributors. So if you hold 1000$ in the reserve, you will receive 100$ worth of each minted riat. 1M$ in value will be sent to localriats.com for trader fees to facilitate free 1:1 exchange of the riat. The balance (minus the presold value ) will be locked in the uniswap pool against an equivalent amount of USDR.

localriat.com (has KYC!)

This is essentially a clone of localbitcoin.com but only for riats. The traders are rewarded with 1% of the traded amount if the trade is executed at 1:1 with no overheads. This is for a limited period during the infancy of the system. The trader fees of 1% will be paid for by the admin for trades executed at 1:1 till the allocated fees funds run out. Localriat will provide window for anyone to cash out directly at market rates, when they hold a riat.

OK, in all this, where the hell are the DEVS????

The devs are responsible for managing localriat.com and making it the largest crypto fiat swap in the world. Localriats is essential to the riat system, it guarantees that holders of riats can transition back to cash anytime without running about. To run this place the devs will levy a 0.2% exchange fee.

Who can contribute to the reserve?

Anyone can join or exit the USD reserve at will, its totally decentralised.

Is there a reserve for every National Riat created, say INR?

Basically Every Riat is Pegged to USDR (at uniswap), USDR is also pegged to the dollar. so we could say all Riats are have a reserve.

Are riats stable coins?

Yes The price of Riats are tethered to the national currency price, The uniswap pool with locked liquidity guarantees that any price fluctuation in the real world is arbitraged till prices balance out.

How are new riats minted and how can we guarantee the developers will not dump the tokens in the future and plunge the prices?.

New riats are minted by the factory contract. The contract determines how much to mint and distribute. You can study the contract in the github Repo. The Developers never get a portion of the minted tokens, they only earn some USDR USDT or DAI from the presale!

What about the $1M for localriats.com? huh?

localriats.com is fundamental to get traders to exchange fiats for riats at a 1:1 ratio. The $1M is used to compensate the traders fees and boost early adoption , so you don’t remain holding a shit coin. The 1% is held in the localriats fees wallet here and is used to compensate trading fees.

How do I join the action?

1. Join the presale. The presale raises funds for the uniswap pair against the Dollar and the presale is also at a 20% discount! Grab your national currency here quickly at a low rate. The presale is already underway!
2. Contribute to the USDR. reserve. In order to have some coins in circulation on day one, 1% of all Riats ever created, will first be distributed to contributors of the reserve, proportional to their contribution.
3. Become a trader and earn 1% of every trade you facilitate at localriats.com. If you have access to your local currency, you could support the ecosystem by locally facilitating 1:1 trades. We will compensate 1% of the trade as fees till the fees wallet runs dry.
4. Provide liquidity. You can provide liquidity in the Riat uniswap pools and earn 0.3% of every exchange.

What happens if a user attempts to dump say JPYR in uniswap?

The Maximum internal inflation the system can suffer is 2% caused by a combined inflation rate of 2% on each token. Also the Riat price will adjust as they Dump And, also note that users attempting to exit the USDR Token by unlocking USD can exit only upto the maximum amount contributed!