Rho Markets Mainnet is launched!
TL;DR
Rho Markets Overview
- Rho Markets: Native lending protocol on Scroll, based on an overcollateralized lending model.
- Cross-Chain Bridging: If you want to bridge assets to Scroll, you can use the embedded bridge partnered with Squid, a multi-chain Bridge for easy asset transfer to Scroll.
- Rho Pets & Rewards: Supplying assets and adopting pets that will generate RXP (Royalty Points). RXP will also level up your Pets.
- Supported Assets: $ETH, $USDT, $USDC, $STONE, $wstETH, etc.
- Rewards Program: Initial Mainnet launch boosts RXP generation by 2–3 times, with extra Points rewards for specific assets, also for Scroll Marks.
Links
- Website: Rho Markets
- Rewards Details: Rho Markets Medium
- User Guide: Rho Markets GitBook
Rho Markets, The native liquidity layer on Scroll
Rho Markets is the first native lending protocol on the Scroll ecosystem, based on an overcollateralized lending model backed by the Scroll team. Rho aims to become Scroll’s unified liquidity layer, streamlining, strengthening, and skyrocketing liquidity across the entire landscape of Scroll’s ecosystem, including future Layer 3s.
Bridge
If you don’t have enough assets in Scroll L2, you can bridge from other chains to Scroll easily from the following page:
We aggregate Squid Multi-chain Bridge frond-end in and can smoothing complete the process here!
Dashboard
In Dashboard you can check some of the key data from your product, including your Supplies (Balance & APY & Collateral);
And your Borrows (Debt & APY & Borrow Power Used).
Rho Loyalty Rewards Program & Rho Pets
Rho Markets has announced the launch of a Loyalty Rewards Program. The program aims to create a system that can be used to distribute future rewards in the form of RATE tokens earned through participation in the Rho product and Scroll ecosystem.
For each new asset listed, we will introduce a corresponding pet. Users can obtain the pet by supplying the respective asset and reaching a certain quantity (usually equivalent to 0.05 ETH worth of the asset). The supplied asset will continuously provide experience points (RXP, Royalty Points) to the pet at a rate per Second.
How to get RXP in Mainnet stage 1?
You can supply various assets in the Rho markets that we support and adopt a Rho Pet. The Pet generates RXP every second and will level up once it accumulates enough RXP. For more details, please read the “RHO WORLD” section.
Learn more about Rho Pets & RXP in:
https://rhomarkets.medium.com/loyalty-points-program-mainnet-launch-phrase-1-1eb0c27e0b0eReminder: RXP will be updated every 15min.
Supplying assets activates the corresponding Rho Pets. Rho Pets generate RXP, and they level up as their RXP increases. If you withdraw your associated assets, the Rho Pets will turn grey and stop generating RXP.
Users can earn 1 point per day for every 1 USDT (or equivalent asset) supplied or borrowed.
Invite Code, you will get boosting for 5% of RXP generated from invitees who enter Rho Markets with your invite code.
Assets & Real Yield Layer
- We support LRT assets such as weETH and rsETH (coming soon), as well as LST assets like Stone. Supplying LRT and LST assets in Rho Markets can generate multiple layers of yields from EigenLayer and other LRT protocols.
- Scroll Marks + Rho Royalty Points(RXP) will be added to all operations including supply / borrow
- Different assets are supported, now including $ETH, $USDT, $USDC, $STONE (only supply, borrow is not open yet), and $wstETH.
We will release a detailed plan for each LRT and LST asset, along with the background story and corresponding Rho Pet, one by one in the future!
Mainnet Launch Acceleration Plan:
In the first months after our mainnet launch, we will gradually introduce a series of assets along with their corresponding pets. We will implement the RXP (Loyalty Points & Pet Experience) Acceleration Plan, which will maintain RXP generation at approximately 2–3 times the normal rate for a period of time. This ensures that you can join us early to earn more RXP.
During the Acceleration Plan period, you can also benefit from 2X and 3X points boosts from our LRT asset partners and additional boosts from Scroll Marks!
Learn how to Lend & Borrow your Assets in Rho Markets here:
https://rho-markets.gitbook.io/rho-markets/user-guide/get-start
