Stablecoin ($ROCKET)

A key insight we had instead of introducing yet another stablecoin was that there's an opportunity to provide a stablecoin as a platform and technology where it's 100% USDC backed, ensuring no market risk to our stablecoin.

This stablecoun technology ensures that projects built on our protocol are not directly built on or have exposure to a Layer 1 or 2 risks (otherwise owners can pull the contracts and steal the treasury). Instead project tokens in our ecosystem can only be exchanged with other ecosystem tokens, or into $ROCKET to exit our ecosystem. We added this extra layer, or buffer, to protect against risks that happen too often and have become as an acceptable occurrence in DeFi, which is a complacency we seek to change.

To ensure the tokens can't be stolen, we add a 24 hour delay before $ROCKET can be converted to USDC. This protects against flash loan and governance attacks that can happen even with projects that spend millions to build their protocol.

$ROCKET functions as a “synthetic USDC” with protective rails lacking in Layer 1 and 2 blockchains. We say synthetic USDC because it's 100% backed by USDC where we place the USDC in reserve. The reason we don't use USDC itself is because it would allow our projects' tokens to be traded on any decentralized exchange ("DEX"), enabling the issue we are protecting against. CollectiVerse will be offering its own specialized DEX that restricts trading of tokens within our ecosystem.

In addition to serving as a technology to protect investors, we also plan to expand to expand $ROCKET as a legitimate utility-based and high yield (as a function of ecosystem-driven revenue) stablecoin. It will offers numerous additional benefits to CollectiVerse and our community which we discuss in the next section.