What is Rope Solana (ROPE) | What is Ropesolana (ROPE) | What is ROPE token

What is Rope Solana (ROPE) | What is Ropesolana (ROPE) | What is ROPE token

Rope Solana (ROPE), a full-scale decentralized ecosystem that brings the well known "market volatility index" to the crypto market. The ecosystem comprises of ROPE and ROPEV tokens. ROPE is built on the Solana platform. The platform will include a decentralized- finance-based (De-Fi) volatility token, as well as help spread awareness, and increase the use cases of the Solana network. ROPEV is a De-Fi-based volatility token providing a greed/fear index for the De-Fi market. The ROPEV index is proportional to the amount of liquidity in major liquidity pools (LPs). As tokens and LPs change over time, a mechanism is required to be able to change the ROPEV index LPs. The ROPE token is a governance token used to vote and govern the ROPEV index. By registering a volatility index, ROPEV, from different De-Fi markets, we break down the market's assumption for future volatility. A technique is to use liquidity pools as a measure of market sentiment. ROPEV is the only full-scale decentralized move to bring this complex and well known "market fear index" to the crypto market. What is Rope Solana (ROPE) | What is Ropesolana (ROPE) | What is ROPE token

In this article, we'll discuss information about the Rope Solana project and ROPE token

ROPE, a full-scale decentralized ecosystem that brings the well known "market volatility index" to the crypto market. The ecosystem comprises of ROPE and ROPEV tokens. ROPE is built on the Solana platform. The platform will include a decentralized- finance-based (De-Fi) volatility token, as well as help spread awareness, and increase the use cases of the Solana network. ROPEV is a De-Fi-based volatility token providing a greed/fear index for the De-Fi market. The ROPEV index is proportional to the amount of liquidity in major liquidity pools (LPs). As tokens and LPs change over time, a mechanism is required to be able to change the ROPEV index LPs. The ROPE token is a governance token used to vote and govern the ROPEV index. By registering a volatility index, ROPEV, from different De-Fi markets, we break down the market's assumption for future volatility. A technique is to use liquidity pools as a measure of market sentiment. ROPEV is the only full-scale decentralized move to bring this complex and well known "market fear index" to the crypto market.

What is ROPE and ROPEV?

ROPE is the central token of the ROPE ecosystem. The ROPE token holds the following utility:

  1. Holders will be able to stake ROPE tokens to generate additional yield earned from trading fees.
  2. The potential to stake ROPE for additional multipliers on yield.
  3. The potential for stakers of ROPE to participate and vote on community proposals and amendments.

ROPEV is a DeFi-based volatility index providing a volatility index for the De-Fi ecosystem. This instrument will allow users to trade or hedge with a volatility index within the entire cryptocurrency market. The details on technical implementation will be published according to the roadmap. Users will be able to trade ROPEV using the ROPEx trading platform.

Roadmap

Q2 2021

  • Implement the ROPE token on the Solana network
  • Distribute ROPE token through airdrop
  • Implement the ROPE/USDC pool to allow users to buy ROPE with USDC
  • Implement ROPE staking to allow ROPE-USDC LP token holders to earn ROPE using Raydium's Fusion pool
  • Share ROPEV index calculation proposals to the community

Q3 2021

  • Publish the ROPEV technical paper
  • Implement governance for ROPE token holders
  • Release ROPE Sight, oracle used for ROPEV index calculations on devnet
  • Release ROPEV on devnet

Q4 2021

  • Release ROPEV on mainnet

Q1 2022

  • Alpha release for ROPEx - trading platform for ROPEV

Q2 2022

  • Beta release for ROPEx - trading platform for ROPEV

Q3 2022

  • Public release for ROPEx - trading platform for ROPEV
  • Alpha release for ROPE Pad - IDO launchpad for Solana projects

Create a ROPE address

This guide takes you through how to set up and create a new ROPE address.

Navigate to your Solana wallet. In this guide we will use Sollet, https://sollet.io/.

Your wallet will need an amount of SOL to create the ROPE address, typically between 0.0021 and 0.004 SOL. We recommend that your wallet has at least 0.01 SOL in it, especially if it's a newly created wallet.

Select the + button ("Add Token").

Select the "MANUAL INPUT" tab.

Enter the ROPE token details:

  • Token mint address: 8PMHT4swUMtBzgHnh5U564N5sjPSiUz2cjEQzFnnP1Fo
  • Token name: ROPE
  • Token symbol: ROPE

Click "ADD". Once your transaction is confirmed, you will see your ROPE address within Sollet.

You have successfully created a ROPE account and address.

If you have any issues creating an account, check you have:

  • enough SOL in your SOL account
  • entered the correct Token Mint Address for ROPE

Trade ROPE/USDC on Bondifa

Navigate to Bonfida and open the market list.

Select ROPE/USDC.

You will now see the ROPE/USDC market live.

Connect your Solana wallet (such as Sollet) to Bonfida.

You may need to approve the connection. A second window will appear, click "CONNECT".

To create a limit order, enter the price and size you want to purchase. Click "Limit buy ROPE" to buy or sell the size you entered.

You have now successfully traded the ROPE token 🥳

Add liquidity to ROPE/USDC LP

Navigate to ProjectSerum Swap and connect your Solana wallet (such as Sollet) to ProjectSerum.

You may need to approve the connection. A second window will appear, click "CONNECT".

You will now see your wallet connected to ProjectSerum. Select the "Pool" tab.

Select the first token shown (i.e. "SOL" in this case) to see the symbol list. Scroll to the bottom of the list and select the token named "8PM...". Ensure the second token selected is USDC.

The ROPE token currently is displayed as "8PM..." while we wait for the Solana team to add the token to their token list. We are in communication with the Solana team about this.

Enter the amount of ROPE and USDC you want to stake and click "Provide Liquidity".

Approve the transaction in the second window by clicking "APPROVE".

Whilst the transaction is processing, you will see a loading indicator.

Once the transaction has completed, you will see a confirmation notification in the bottom left of the window.

You will now be able to see how many LP tokens you have and the associated ROPE and USDC share.

Click "My Pools" to see more pool details.

Here you can see an overview of the pool. You also have the ability to remove your liquidity at any time.

You have successfully added liquidity to the ROPE/USDC LP

Track ROPE on Blockfolio

Open the Blockfolio app and select the "+" button.

Under "Add coin" search for Rope and select the Rope.

ROPE will now appear in your portfolio.

You have successfully added ROPE to your Blockfolio acccount

How and Where to Buy Rope Solana (ROPE?

ROPE token is now live on the Solana mainnet. The token address for ROPE is 8PMHT4swUMtBzgHnh5U564N5sjPSiUz2cjEQzFnnP1Fo. Be cautious not to purchase any other token with a smart contract different from this one (as this can be easily faked). We strongly advise to be vigilant and stay safe throughout the launch. Don’t let the excitement get the best of you.

Just be sure you have enough USDC in your wallet to cover the transaction fees.

You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB), USDC...

We will use Binance Exchange here as it is one of the largest crypto exchanges that accept fiat deposits.

Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer, and buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)...

SIGN UP ON BINANCE

Step by Step Guide : What is Binance | How to Create an account on Binance (Updated 2021)

Once finished you will then need to make a BTC/ETH/USDT/BNB deposit to the exchange from Binance depending on the available market pairs. After the deposit is confirmed you may then purchase ROPE from the exchange.

The top exchange for trading in ROPE token is currently Serum DEX

There are a few popular crypto exchanges where they have decent daily trading volumes and a huge user base. This will ensure you will be able to sell your coins at any time and the fees will usually be lower. It is suggested that you also register on these exchanges since once ROPE gets listed there it will attract a large amount of trading volumes from the users there, that means you will be having some great trading opportunities!

Top exchanges for token-coin trading. Follow instructions and make unlimited money

https://www.binance.com  ☞ https://www.bittrex.com  ☞ https://www.poloniex.com  ☞ https://www.bitfinex.com  ☞ https://www.huobi.com

Find more information ROPE

WebsiteExplorerSocial ChannelSocial Channel 2Social Channel 3DocumentationCoinmarketcap

🔺DISCLAIMER: The Information in the post isn't financial advice, is intended FOR GENERAL INFORMATION PURPOSES ONLY. Trading Cryptocurrency is VERY risky. Make sure you understand these risks and that you are responsible for what you do with your money.

🔥 If you're a beginner. I believe the article below will be useful to you

⭐ ⭐ ⭐ What You Should Know Before Investing in Cryptocurrency - For Beginner ⭐ ⭐ ⭐

I hope this post will help you. Don't forget to leave a like, comment and sharing it with others. Thank you.

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