Rootkit / UpOnly Ecosystem (FAQ)
I am new to the Rootkit community. What should I know about the project?
Rootkit leverages the ERC-31337 standard — an open source technology developed by the team which leverages liquidity captured from permanently locked liquidity pools to unlock new possibilities. Read more about the project here.
Where can I learn more about ERC-31337?
We have dedicated an article to explain the concepts around a price floor, titled “The Power of a Price Floor”.
Who is part of the Rootkit team and how can I be sure this is not a rug?
Root is an anonymous team of passionate DeFi degens. We are a team of roughly six (more if contractors count), which span across development, marketing and design.
What is a price floor?
The price floor is the resulting price when all circulating ROOT is sold into the various ROOT liquidity pools.
Where can I view Rootkit’s code and contracts?
All of Rootkit’s technology is open source. The repository containing the infrastructure, contracts and GUI can be found here.
Is there a roadmap and what should the community expect after the MGE and release of upTether?
A roadmap article was recently released on April 6th, 2021. Read more about it here.
What does the new UpOnly ecosystem mean for ROOT?
ROOT will remain the root of all things. As such, ROOT will be utilized for governance to vote on various parameters of future MGE’s, as well as receive a % of all transfer fees for all future upOnly ecosystem tokens starting with upTether.
Why should I own ROOT or upTether, and which is better?
This will depend on the thesis for ownership and time horizon. ROOT will benefit from all future upTokens in the form of transfers fee and in-flows derived from those who would like to participate in governance (longer term). upTether is for those who already own USDT or are looking for a synthetic asset that tracks it and want to gain additional exposure on top of it (shorter term).
I want to launch a project which could utilize ERC-31337, how can I get started?
The contracts are public and can be found here. For questions as it relates to implementation/integration free to dm @professorponzo on Telegram, creator of the ERC-31337 standard.
What is the relationship between Rootkit Finance (ROOT) and Evolution Finance (EVN)?
Evolution are partners of Rootkit, with the Professor advising Evolution on tETH, a synthetic asset which utilizes Rootkit’s ERC-31337 standard technology.
What is a Market Generation Event (MGE)?
We have dedicated an article on the MGE. Read more about it here.
What is the optimal round to partake in the MGE?
The end result will largely depend on public perception. However, from a mathematical standpoint the optimal round should generally be the least participated round when the sale comes to an end.
What should I expect from the referral system?
2% of all raised funds will be deployed during a Ref buy round, which takes place before all insta-buy rounds.
What is the value proposition of upTether?
upTether tracks the price of Tether (USDT), but with access to the permanently locked liquidity using the ERC-31337 standard, one could expect initiatives which are made possible from that liquidity (buybacks, future R&D and ecosystem exposure in the form of partnerships/social initiatives).
What is the difference between upTether and Tether (USDT)?
Tether (USDT) is a stablecoin launched by our friends at Bitfinex. upTether is a synthetic asset which tracks the price of Tether (USDT). We have an article dedicated on upTether which can be found here.