Main concepts
Last updated
Last updated
A bucket (MoCBucket struct) is a Tokens/RIF grouping abstraction that represents certain state and follows certain rules. It's identified by a name (currently C0). It has a "balance" of RIF, USDRIF, and RIFPro. Balance accounting between buckets is articulated by a series of Smart Contracts that constitute the RoC ecosystem.
Is the ratio between the RIF locked (backing USDRIF) and the total amount of RIF, be it in a particular bucket or the whole system (usually referred as global). Locked RIF amount is a result of the amount of USDRIF and their price in RIF (RIF/USD rate).
Its value is pegged to one dollar, in the sense that the SC (using rif/usd price) will always return the equivalent amount of rif to satisfy that convertibility. It's targeted towards users seeking to avoid crypto's market volatility. It's implemented as an ERC20 token, it can be traded freely, but minted/burned only by the RoC system.
It's targeted towards users seeking to hodl RIFs and also receive a passive income from it. It's implemented as an ERC20 token, it can be traded freely, but minted/burned only by the RoC system. The more RIFPro minted (introducing RIF to the system), the more coverage the system has, since they add value to the system without locking any.
The MoC token is designed to govern a decentralized autonomous organization (DAO), and can also be used to pay fees for the use of the platform at a lower rate than those to be paid with RIF. MoC holders will also be able to get a reward for staking and providing services to the platform. MoC token holders will vote on contract modifications and new features. On a basic level, the DAO decides whether or not to update the code of the smart contract.
It's crucial to the system workflow to have an up to date RIF-USD rate price feed to relay on. This is currently achieved by a separate contract so that it can be easily replaced in the future without affecting the RoC system. See .