Rocket Global - A New Next-Generation Multifunctional Hybrid Cryptocurrency Exchange
Crypto enthusiasts are always looking for a new way to invest their money in the market. The Decentralized Finance (DeFi) sector is an up-and-coming business, but its youth still poses several limits that creative teams are trying to overcome.
Rocket Global, one of these initiatives, will be the subject of an unbiased examination by our team today. To help readers make an opinion on the project, we've included a concise summary that focuses on its most essential aspects.
What Is Rocket Global?
Rocket Global aims to seduce investors with a cryptocurrency exchange, high-yield staking, and NFT marketplace. Current crypto exchanges have several flaws and limitations, but their market traction shows high potential. Capped or slow transactions are difficult to prevent, and the community has no option but to live with these trading limits.
The best way to understand how Rocket Global works is to look at the features it wishes to bring to the market, which is our goal in the following subsections.
Rocket Global’s Pillars
The team working on Rocket Global has listed the pillars of this project within the whitepaper. Specifically, we should mention the following:
Multi-Chain NFT Trades: the team dreams of providing traders with an innovative exchange portal supporting multi-chain operations.
No gas fees: a new trend in the DeFi market is to lower the transaction costs (or “gas fees”) for every operation. Rocket Global aims to guarantee a near-zero level.
Realistic Price Discovery Mechanism: it may be hard to evaluate NFTs in an overcrowded market, and Rocket Global wishes to bring more transparency to this matter.
Scalability: one of the main issues of the DeFi market is that many decentralized apps (or Dapps) do not exhibit high scalability. Rocket Global promises to change this trend and give users a smoother trading experience.
Rocket NFT Rewards: many risk-averse investors are attracted by the idea of obtaining a passive income from the crypto industry. Therefore, it is not surprising that Rocket Global decided to join this bandwagon.
Clean NFT Mint: the project will also let anyone create (or “mint”) NFTs on this portal, thanks to the POS Consensus Algorithm model of the BNB Chain.
The Rocket Pay Service
Crypto adoption necessitates an excellent service to handle payments with coins, which is why the Rocket Global team thought of introducing Rocket Pay.
Thanks to the Merchant Payment Gateway, customers may pay for goods and services in cryptocurrencies with little or no costs.
Due to this new strategy, merchants that were previously unable to handle payments in coins may now do so.
The NFT Marketplace Launch
Any crypto enthusiast knows that non-fungible tokens (NFTs) had massive success in 2021, with a trend that does not seem to slow down in 2022. Rocket Global wishes to exploit this hype by providing traders with a multi-chain marketplace to help creators mint their artworks and sell them.
This system can run on any other blockchain system as a sidechain or bridge, which is the secret to the broad compatibility that Rocket Global wants to achieve with this product.
The Passive Income Strategy
The crypto market is highly volatile, with enormous gains alternating with massive losses. Investors may find it hard to understand the logic of this sector and, in the long term, abandon the market.
The idea of leveraging blockchain’s power to help this class of investors is relatively new, and it led to the birth of the passive income phenomenon in the crypto sector. Rocket Global also decided to enter this market niche by offering “staking” and “yield farming” services to its community.
In order to match orders, Rocket Global's infrastructure uses automated market makers (AMMs). Instead of publishing an asset's current market value, it employs smart contracts to build liquidity pools. The pools can then execute the transactions according to a series of algorithms.
As part of this transaction, liquidity suppliers deposit money into the pools. Using multiple staking and liquidity pools, this offering promises APRs of up to 389 percent.
Discovering the RCKC Token
The 750 million RCKC tokens will follow a specific allocation:
Liquidity/public sale, marketing, and community airdrops/bounties will each receive 15% of the tokens for a total supply allocation of 45%.
The liquidity pool of the project will have 11.5% RCKC.
The team will reserve 13% of the tokens to guarantee rewards for stakers.
An NFT creator fund will be able to handle 2.5% of the supply.
Angel investors and the private sale will receive, respectively, 4% and 3% of the funds.
The remaining supply will go to the team (10%), advisors (5%), and project partners (6%).
The Team’s Plans for 2022 and 2023
The team added a number of milestones to its strategy for the current year. This project's website and smart contract were developed, and many marketing initiatives were launched in the first quarter. An audit by Certik was conducted, and the yield farming and staking portal was launched during Q2.
It's expected that the DEX aggregator mechanism and the project's DAO will be completed in the second half of the year. New strategic partnerships and the debut of the Rocket Pay feature will round off the year.
The project's NFT marketplace should be operational by Q1 in 2023. Additionally, Rocket Global’s ecosystem will feature derivatives and futures trading. Finally, Rocket Global's blockchain system will be launched in the last part of the year.
Key Takeaways
Rocket Global wishes to overcome the current limitations in the DeFi market (and specifically, in the crypto exchange niche) with a different way to use this technology. The promise of a competitive APR and an overall appealing user experience represent the project’s secret sauce.
While we progress through the 2-year-long project’s roadmap, it is easy to find news on Rocket Global through social media and its official website.