Rate3 (RTE) is a decentralised dual protocol for cross-border payment and credit scoring powered by Stellar and Ethereum. This means that users of the Rate3 Network would be able to hold either the Stellar or Ethereum version of the RTE token, depending on the use case and circumstances.

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Why do a Cross-Chain approach?

There are three main reasons why we adopted a cross-chain approach for the RTE token:

1. There will be Increased Liquidity

RTE tokens are now able to be exchanged on both networks, increasing accessibility for users to obtain RTE tokens. This will be increasingly relevant as exchanges move towards a more decentralised approach, as RTE will be able to be listed on both Stellar and Ethereum based decentralised exchanges.

2. Stellar provide Fast and Cheap Transactions

With transactions settling within 2–5 seconds and operation costs of 0.00001XLM, Stellar enables payment transactions with RTE tokens to be done much quicker than most blockchains. It will be used to power our Cross-Border Payment Protocol.

3. Ethereum has an entire Smart Contract Ecosystem

By having the Ethereum version of RTE, we are able to extend the token utility with it being useful in Turing-complete smart contracts. Our Credit Scoring Protocol is based on Ethereum.

To support the token on both Stellar and Ethereum, we will need a bridge to allow users to easily and freely exchange the two versions of the token. Here’s where atomic swap comes in.