After many months of work, we are proud to disclose the official launch of the RMM V3.
The most recent version includes many new functions and enhancements. They significantly improve the user experience and performance of our platform.
On its key features and main differences of RMM V2 with V3:
- RMM V2 achieved a remarkable Total Value Locked (TVL) of +12.7 million at its peak.
- Unlike V2, where only a few of the properties are listed, in RMM V3, all properties will be made available over the next migration period.
- Following this initial phase, every property will be added to the RMM V3 approximately three months after the property is sold out on the marketplace.
- RMM V2 served as a valuable proof of concept, allowing us to evaluate its viability and performance, to be able to launch RMM V3.
- An external company (ABDK Consulting) audited the code of RMM V3, and we are pleased to share that 80% of the audit fees were paid with the generated fees from the RMM V2. We are already working on RMM V4 starting with innovative infrastructure work. However, we don’t have a set deadline for its launch.
To overcome Aave V3’s market limitation (set at 128 markets due to gas consumption associated with HF mechanics), RealT has developed a Wrapper. This Wrapper extracts the value of each RealToken and pools them into a single token, RTWxusd (RealToken Wrapped x USD, with “x” being the wrapper number). Direct interaction with RTWxusd is not possible; it allows value deposition into RMM across all markets, unlike the first RMM version. Consequently, when depositing RealTokens, you will receive armmRTW tokens.
Ultimately, there will be a Wrapper for each monetary zone, each accommodating around 2000 RealTokens. Once this limit is reached, a new Wrapper can be established, potentially pushing the limit to thousands RealTokens. This new operational scheme poses no additional security risks compared to RMM V2. However, it’s important to note that in the RMM V3, it’s no longer possible to choose which of your deposited RealTokens act as collateral. All RealTokens deposited within RMM V3 are considered as collateral.
Among the most important advances of RMM V3 (based on Aave V3), we can mention:
- Risk management: The transition to RMM V3 widens compatibility with other protocols and enhances risk management with the introduction of borrowing and deposit caps. This version also offers access to new adjustable parameters that may not be activated immediately but could prove useful in future partnerships or use cases. Additionally, V3 introduces a two-tiered liquidation system. Positions with a Health Factor (HF) above 0.95 but below 1 will be liquidated for a maximum of 50% of the total debt. If the HF falls below 0.95, the maximum liquidation rises to 100%, enhancing the protocol’s security.
- Isolation mode: Isolation mode allows RMM Governance to list new assets as isolated assets, which have a specific debt ceiling. The debt ceiling for an isolated asset is represented as the maximum amount in USD that can be borrowed against the user’s collateral with two decimals of precision.
Borrowers using an isolated collateral can only borrow stablecoins that have been configured by RMM governance to be borrowable in isolation mode.
Our partners have audited the protocol with the Aave V3, and therefore of RMM V3. We hope to achieve some great synergies in the following weeks.
Noteworthy to mention, if you have a substantial amount of assets borrowed and deposited in RMM V2, it is advisable to conduct the migration in multiple batches, with a recommended limit of migrating no more than 5 assets in a single transaction. The priority while doing this is to keep an eye on your Health Factor when you start the migration. Migrating assets from V2 to V3 is optional, as V2 contracts will continue to operate and remain accessible.
P.S. Right after the launch of RMM V3, rent payments in armmxDAI will be done on the RMM V3 only.
Take a look at RealT Raise: https://realt.co/product/the-realt-raise-token/ and our social media below.
