Introduction to the Rock3T Treasury
Rock3T Overview
Rock3T leverages a smart contract called the Liquid Vault to deliver the three “T”s of a new deflationary asset:
- Trustlessness
- Truth
- Toughness (antifragility)
These are described in the Rock3T launch Medium article here.
Treasury
In order to future proof Rock3T, a Treasury has been established that will initially be governed by a multi-sig. The Treasury will be funded with 11m R3T tokens as described in the launch article.
In the near future a DAO will be created that will ensure the governance of the Treasury and will incentivise R3T LP holders to participate in the distribution of Treasury funds.
While not all angles can be explored at this time, we do feel strongly that any votes for an arbitrary #alphadrop of tokens to the community will not be permitted by the DAO structure and will be implemented as part of the rules of establishment.
Rock3T has been launched with a set of economic levers, as discussed here. There are additional economic levers that could be implemented at launch, however we feel that the best of these have been deployed at the commencement of the project.
The questions that cannot yet be answered are: Where will DeFi be one year from today? What innovations will exist? How much more developed will the DeFi market become? What products, services and technologies might be developed in the medium-term? The list is many and varied.
Rock3T is launching with the clear realisation that its innovations are unlikely to remain the epoch of innovation, a trend that we have seen in many other projects who believe they have the long-term answer, only to be disrupted in relatively short order.
What we do know for certain is that certain features are not as value-additive as once thought, for example minting. As a consequence Rock3T does not allow minting because mint functions are too common a vector for exploitation, as seen many times recently. While the DAO can vote on almost anything, they will not be able to as the smart contracts will not have a minting function at all.
As the system grows and the community requires it, the robustness of the security of the treasury will also increase. The Treasury allows Rock3T to live beyond its first Liquid Vault should its community agree with proposed designated future uses of the supply. If Liquid Vault represents the sum of all innovation in the future, then they might want the remaining supply to be burned.
We believe that Liquid Vault representing the sum of all innovation in the future is impossible, however, and the Treasury innovation embeds future proofing, promotes maximum flexibility and provides the Rock3T community with unlimited options to take advantage of future innovations as they are brought to the market.
LiquidVault Revisited
A user sends ETH to the Liquid Vault to pool them with R3T tokens that the contract holds. They receive LP that is locked for a predetermined period of time. This period reduces as the system health improves — system health is discussed here.
The Liquid Vault uses these economic levers at inception:
- When a user sends ETH to Liquid Vault it takes a percentage [ETH Fee] and auto-swaps this for R3T on Uniswap.
- The remaining ETH is pooled with R3T to create LP tokens.
- These LP tokens are returned to the user after a predetermined Lock Period.
- Prior to receipt, a predetermined percentage, called the LP Donation, is deducted from the LP and sent to a 0x address i.e. locked forever.
Learn More
Website: https://3t.finance
Telegram: https://t.me/Rock3Tfinance
Discord: https://discord.gg/pPCuyYa
Reddit: https://reddit.com/r/DegenVC
Twitter: TBC
