What is REI

I. Project Introduction

1. What Is REI Network?
REI Network (formerly GXChain 2.0) is an EVM-compatible public blockchain. As an Ethereum para chain, it owns the features of lightweight, free and dev-friendly. REI Network is to effectively solve the current high cost and low-efficiency problems of public chains. REI Network can achieve free, low-cost development, and rapid migration of applications, and can be shared and symbiotic with the EVM ecosystem, also supporting the development of Defi, GameFi, and NFT.

2. How Does REI Network Work?

Full EVM Compatibility: REI Network ensures compatibility with existing dApps and smart contracts, supporting Ethereum's RPC and WebSocket interfaces.
DPoS+BFT Consensus Algorithm: REI Network utilizes Delegated Proof-of-Stake consensus to create a more efficient and energy-preserving network.
System Contracts: a collection of built-in contracts that implements functions including staking, resource management, IBC, etc.
REI DAO: a decentralized governance community that manages REI Network via voting on proposals and granting funds to projects.

3. Who Founded REI Network?
The team information is not publicly disclosed. In July 2018, the project received investment from Fenbushi Capital, Bixin Ventures, 8 Decimal Capital, LinkVC, Nirvana Capital, and Imagination Capital.

4. REI Network Tokenomics
$REI is the native token of REI Network, created through a swap from the GXC token, with a maximum supply of 1 billion. $REI is used for paying transaction fees, participating in on-chain governance, serving as validator staking, and exercising the sole voting power in node elections. At the same time, users can also stake $REI to own $Crude, which can be used instead of gas to enable fee-free transactions.

5. Timeline of Key Milestones
In Q2 2021, the developer preview of GXChain 2.0 was released, and EVM and PoA consensus were later introduced to the testnet.
At the end of 2021, the project was rebranded to REI Network, adopting a free economic model and enabling cross-chain interoperability.
In early 2022, the $GXC-$REI token swap was initiated, the mainnet was officially launched, and the REI DAO and Super Node program went live.
In H2 2022, the project focused on developing a modular architecture, rollups, and multi-chain integration.
In 2023, performance optimization and global application were carried out.

II. Cryptocurrency Information

1) Basic Information

Name: REI (REI Network)

III. Related Links

Official Website:https://www.rei.network/#/

Blockchain Explorer:https://scan.rei.network/

Social Media:

https://github.com/rei-network

https://twitter.com/GXChainGlobal

https://medium.com/gxchain-project

Note: The project introduction comes from the materials published or provided by the official project team, which is for reference only and does not constitute investment advice. HTX does not take responsibility for any resulting direct or indirect losses.