Rootstock Welcomes New Leverage Token

A New Launched Based On Bitcoin’s Blockchain

Bitcoin smart contract solution Rootstock is welcoming a new stablecoin and leverage token. In the past few days, a startup launched a new stablecoin and decentralized token on Rootstock.

Bitcoin-based DeFi (decentralized finance) protocol MoneyOnChain launched the products on the smart contract solution based on Bitcoin4 blockchain.

The new platform which goes by the name RIF on-chain wi has RPRO, RIFX, and RDOC. The RPRO token will mirror the price of RIF; however, it will also generate passive income by holding a part of the fees generated on the platform from various transactions.

RDOC takes base from the U.S dollar, and it is backed by RIF tokens. The good news is that RID dollars can be obtained by spending RIF without forming a collateralized debt position. Finally, RIFX token shines the light on RIF’s price fluctuations with leverage.

“RIFX is a RIF leveraged decentralized long position. Based on an automated smart contract that renews every 30 days, the product has a leverage factor of 2X at the very beginning of its lifespan and a variable leverage afterward based upon certain variables such as the price of RIF token and the amount of RDOC stablecoins in the ROC platform. Users must be aware of the risks. […] The ROC platform, in this current version, does not have a Margin Call notification,” said Diego Gutierrez Zaldivar, CEO of IOV Labs (IOV Labs is behind Rootstock)

Rootstock, moneyonchain, bitcoin foundation

The Bitcoin Foundation

Zaldivar also mentioned that RIF uses Bitcoin’s blockchain for security purposes. According to him, RI is merge-mine with Bitcoin. He said that Bitcoin is already a part of the system, and he hopes the role of the premium cryptocurrency will be looked at in the coming months.

“Bitcoins are locked on-chain, and RBTC tokens are minted on the RSK network accordingly. RBTC (and thereby BTC) will serve as collateral for loans, as a pegging mechanism for RIF Dollar and more,” Zaldivar added.

cryptonbitcoin.com
DISCLAIMER High Risk Investment Trading cryptocurrencies carries a high level of risk, and may not be suitable for all investors. Before deciding to trade cryptocurrency you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with cryptocurrency trading, and seek advice from an independent financial advisor. ICO's, IEO's, STO's and any other form of offering will not guarantee a return on your investment. Since Any opinions, news, research, analyses, prices, or other information contained on this website is provided as general market commentary, and does not constitute investment advice. cryptonbitcoinwill not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. All opinions expressed on this site are owned by the respective writer and should never be considered as advice in any form. Cryptonbitcoin makes no representation or warranties as to the accuracy and or timelines of the information contained herein. A qualified professional should be consulted before making any financial decisions.