Rho Markets Asset Road Map

Roadmap

Updates to the roadmap will be made here and announced via our official Twitter account.

Supply Assets on the Scroll blockchain Recently (ERC-20 tokens)

• YLSTETH (CIAN) — Contract address: 0xBAC6DD1b1F186EF7cf4d64737235a9C53878cB27q
• Launch Time: October 3
• KelpDAO(agETH) — Contract address: 0xd44605d3E5eF9A73379Ce5258B06e4383c6FF32a
• Launch Time: SOON
• Scroll (SCR) — Contract address: TBA
• Launch Time: SOON

Disclaimer & Risks: There may be instances when an asset is postponed or withdrawn from potential listing due to various factors. Although we will make every reasonable effort to reduce the likelihood of this happening, it is important to note that the information provided in this blog should not be viewed as a promise or guarantee of listing. Rho Markets retains the right to cease this Medium post at any time.

Why have you decided to list these assets?

Our primary goal is to comprehensively list all assets within the Scroll ecosystem that meet our legal, compliance, and technical security standards. In addition to this, we will consider a range of factors, including:

1. Market Capitalization: Assessing the project’s size and strength within the current market.
2. Popularity: Analyzing user engagement and recognition of the asset.
3. Ecosystem Share: Examining the asset’s relative share and significance within the Scroll ecosystem.
4. Trading Activity: Monitoring the trading volume and activity to understand market dynamics.
5. Holder Distribution: Analyzing the number of asset holders and their distribution to evaluate decentralization.
6. Community Engagement: Assessing the level of community participation, including social media interactions, project updates, and feedback.
7. Total Value Locked (TVL): Measuring the investment amount within the asset to reflect its liquidity and market confidence.

By combining these factors, we will gain a more comprehensive understanding of each asset’s credibility and potential value.

In addition, we will take into account the future usage scenarios of the asset within the borrowing and lending market. This includes assessing whether there is demand for using the asset as collateral for loans or if it is needed for various DeFi strategies.

Furthermore, we will thoroughly evaluate the asset’s liquidity to ensure it remains sufficiently liquid, avoiding significant price discrepancies or other potential risks. These considerations will help us maintain a robust and reliable listing process.

How do you choose which “types” of assets to support?

Criteria for Selecting Asset Types for Support

As we expand our offerings to include more networks and ecosystems, our goal is to present users with an extensive range of asset options.

Currently, Rho Markets facilitates Supply & Borrow for two main categories of assets:

1. Native assets unique to their respective networks, such as Ethereum (ETH)
2. Tokens that conform to recognized standards, like the ERC20 tokens on the Ethereum blockchain

Asset Listing Process

1. Purpose of Listing New Assets

As a protocol product based on the Compound Fork, Rho Markets aims to enhance its functionality and market competitiveness by listing new assets. Listing new assets allows our protocol to offer users more borrowing and yield opportunities, thus improving the overall liquidity and market participation. The key goals of listing new assets include:

• Enhance Protocol Liquidity: New asset listings can help improve liquidity within the protocol, driving increased market activity.
• Broaden User Base: By offering a variety of assets, we attract different types of investors and institutions with varying risk preferences.
• Innovative Financial Tools: Listing new assets enables the expansion of supported financial tools, including lending, collateralization
• Support for Long-Tail Assets: By listing smaller but promising assets, we provide financial support for innovative projects, helping them grow within the ecosystem.

2. New Asset Listing Process

Before a new asset can be listed on Rho Markets, it must undergo a rigorous evaluation and review process to ensure that it meets the technical, security, and compliance standards of the protocol. This process aligns with the needs of our Compound Fork-based architecture and DeFi ecosystem requirements.

Step 1: Asset Evaluation

The first step involves a comprehensive evaluation of the asset’s background, technical structure, and market performance. This ensures that the asset has long-term potential and can provide stable lending and liquidity benefits to users.

Step 2: Chainlink Price Data Integration

To maintain transparent and market-aligned pricing, all new assets must integrate with the Chainlink decentralized oracle for price data. This integration is crucial to ensure that price information within the protocol is secure, transparent, and accurate, which is particularly important for lending and liquidation operations in decentralized finance (DeFi).

Step 3: Compliance Review

Each asset must pass a compliance review to ensure it meets the legal and regulatory standards of the jurisdictions in which Rho Markets operates. This review includes verification of the asset’s legality, adherence to anti-money laundering (AML) regulations, and compliance with Know Your Customer (KYC) requirements.

Step 4: Technical Security Audit

A thorough technical audit is conducted on the asset’s smart contract to identify any potential security vulnerabilities. This audit ensures the asset’s integration with Rho Markets does not introduce risks, particularly regarding liquidation mechanisms, interest rate calculations, and overall protocol compatibility.

Step 5: User Notification and Listing

Once the asset passes all evaluations and reviews, we will notify our users about the upcoming asset listing. The asset will be listed on the platform, and we will ensure that the Chainlink oracle integration and technical infrastructure are fully operational.

3. Audit and Review Requirements

Legal and Compliance Review

• The asset must have a clear legal structure and comply with the legal requirements of the jurisdictions where Rho Markets operates.
• The asset must meet the necessary regulatory standards, particularly in relation to financial and securities laws.
• The asset must pass AML and KYC checks to ensure compliance with global standards on financial security.

Technical Security Audit

• The smart contract code must undergo a third-party audit to ensure it meets the security standards required in DeFi protocols.
• The smart contract must be compatible with Rho Markets’ architecture, particularly concerning interest rate calculations, liquidation processes, and collateral management.
• There should be no known vulnerabilities or risks that could compromise the security of the protocol.

Chainlink Price Data Integration Requirements

• The price data for the asset must be provided by Chainlink’s decentralized oracle, ensuring reliable and decentralized data sources.
• The price data must be widely recognized and accepted in the market, reflecting real-time fluctuations accurately across different markets.