A blockchain is simply a network of computer systems that duplicates and distributes a digital record of transactions throughout the entire network. Each block on the chain comprises a number of transactions, and each participant's ledger receives a copy of each new transaction that takes place on the blockchain.
The term "distributed ledger" refers to a record of consensus with a cryptographic audit trail that is up-to-date and verified by nodes. It can be decentralised or centralised. While distributed ledgers can be implemented in a variety of ways, not all of them require the use of a blockchain.
The simplest answer to what is asset tokenization on blockchain is that it is a process through which a blockchain token is issued to digitally represent any real tradable asset in a way that you can trade with a single fraction of the asset as well. The process sounds much like Securitization and Fractional Ownership, but it holds some key differences.
Tangible Assets – The term represents a set of assets that holds some monetary value and is available usually in a physical form. Eg. Gold, Property, Inventory, Art, shares, contract, etc.
Fungible Assets – These digital assets are created such that every token is equivalent to the next. Meaning, one bitcoin is equal to one bitcoin and is interchangeable with one bitcoin only.
Non-Fungible Assets – They are designed as unique and can’t be interchangeable. At Rooba we help create your bespoke digital asset depending on what you give us to work with.
A token represents a set of rules encoded in a smart contract. Each token belongs to a blockchain address. It’s essentially a digital asset that is stored securely on the blockchain.
Tokens are often divided into utility tokens and security tokens. The former can be used to buy access to a company's product or service, while the latter can be used to buy you a stake in the company itself.
Custody is the process of securely storing digital assets to protect them from loss or theft. A custodian is a third party that provides a secure storage facility in exchange for a fee.
Smart Contracts are lines of code in blockchain that are executed automatically. They define the rules of how a transaction has to be processed between the parties under specific conditions. It is basically a digital contract for a blockchain network.
No. Blockchain is the technology that allows for cryptocurrencies to work. It is a decentralized and digital ledger of transactions used for cryptocurrencies and other assets/functions. It is important to separate the technology behind cryptocurrencies from the actual cryptocurrencies.
A Beta program is an opportunity for real users to use a product in a production environment to uncover any bugs or issues before a general release. Beta testing is the final round of testing before releasing a product to a wide audience. We at Rooba want you to take a sneak peak at what’s more to come!
As a rule, VPNs would not prohibit using the platform. However, if the website isn’t loading properly, we advise you to stop using your VPN and attempt logging in.
Please contact hello@rooba.finance and we’ll be happy to help you.
Metamask is a cryptographic wallet and a gateway to decentralised blockchain applications.
Metamask wallets are only compatible with the following browsers: Chrome, Brave, Opera, Edge. Check the plugins/extensions on your browser if it is one of the aforementioned web browsers.
Faucet Test Tokens can be used on any platform supported by Polygon’s Testnet. Rooba Synthetic Tokens are native to Rooba’s Platform.
We have no bar in terms of our initial participation in the Rooba Beta Program. While you will undergo an initial KYC and KYB as a part of the sign up process. While, in the mainnet we will be taking all the documentation mentioned below, during the Beta Program we will require only one from each field, depending upon the nature of your organisation.
Documents:
KYC stands for Know Your Customer. KYB stands for Know Your Business. KYC and KYB Guidelines are issued by the RBI as regulatory compliances that any company providing and facilitating financial services. Our KYC & KYB compliance partner SumSub verifies the authenticity of the user and validates their wallet on the Rooba Platform. We will store all data of KYC, KYB, all transaction data, meta data, etc. in our servers in India.
You can register on our KYB as an unregistered entity using your documents used for KYC processes.
Please use your work-email ID to facilitate KYB authorisation.
We at Rooba pride ourselves for maintaining stringent KYC/KYB compliance standards. Till such time as your documents are verified by SumSub, it will remain pending. If the documents you have submitted are not valid or do not match the identity your wishing to register then your KYC will be rejected. In Beta environment, we are using Sandbox environment of Sumsub for KYC/KYB Sumsub Sandbox environment approves all the KYC however their production environment might reject certain KYC’s that do not meet their compliance requirements.
Fund is a Multisig Smart Contract wallet created by an Organisation on Rooba Platform to create, hold and trade Rooba Synthetic Tokens. Once you have completed your KYC successfully and added your organisation and completed its KYB successfully, you can create a fund. A fund will allow you to trade on the Rooba Platform and mint tokens.
This policy controls all asset transfers and swaps. In MultiSig Wallets having more than one approver it is necessary to set the transaction policy in order to execute the smart contract. The minimum threshold of approvers set are required to authorise action under transaction policy.
Currently whosoever creates the organisation is assigned as the administrator and holds the authority to add members to the organisation and create Funds An approver is a person in your organisation, who you have added and authorised to approve transactions with respect to a specific fund (i.e. wallet). You have to authorise a person within your organisation, each time you wish to make them an approver for every fund you create. Employees within your organisation do not automatically become approvers.
You can add a maximum of 3 approvers on any fund. After this, you must complete setting up the transaction policy in order to successfully execute trades.
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You can add a maximum of 3 approvers on any fund. After this, you must complete setting up the transaction policy in order to successfully execute trades.
Unlimited! You can create separate funds to demarcate separate investment strategies, jurisdictions, asset classes and more.
There can be multiple reasons for you not able to see the funds.
If none of the above reasons apply to you, please contact us at hello@rooba.finance
The administrator makes the decision on the approval threshold.
Ether is the transactional token that facilitates operations on the Ethereum network. We do not use Ether tokens as a transactable token.
Go to faucet.polygon.technology
Once the site has loaded, select the Mumbai network under the “Get Test Tokens” heading. Select Matic Token as the token option. Input your wallet address (Metamask or WalletConnect).
Test Tokens are used as gas fees. Gas fees are the cost to process a transaction on Polygon’s Testnet blockchain. We don’t show the Matic Test Tokens on your wallet balance because it is not transactable on the Rooba Platform, it is merely used as a lubricant to facilitate your transactions.
Users can access following trade functionalities:
We’re currently piloting these two features with many more to showcase in the mainnet.
Rooba.Finance Platform is a no-code smart contract platform.. All you have to do is decide what sort of transaction you want to execute by selecting one of our template contracts or requesting us for a bespoke contract.
Smart contracts are, in essence, computer programs that automate the enforcement of predetermined terms on a blockchain. Rooba.Finance Smart Contracts are deployed on Polygon Blockchain. Traditional Contracts, on the other hand, are sets of agreed-upon terms which are enforceable by law and are described in a natural, human language.
Currently, prices will be determined based on user input. In the mainnet however, reliable and trusted third-party oracles shall perform the function of price-fetching and valuers will authenticate the price of the underlying product.
We at Rooba are not financial advisors and nothing within our website, materials or testimonials should be construed as financial advice. Financial markets are prone to risk and volatility.
Yes, you can swap tokens of different asset classes as long as the oracle can fetch the price of the underlying asset and therefore the token price.
Users who have completed their KYB and the required internal documentation on stage.rooba.finance are eligible to mint tokens on Rooba Beta program. Our internal documentation requirement includes deal structuring, asset audits (including valuation), contract execution and custody of the assets prior to minting. In the Beta Program, we’ll merely be discussing the various assets you’re seeking to self-custody and trade, and assigning you a corresponding token.
Polygon is a “layer two” or “sidechain” scaling solution that runs alongside the Ethereum blockchain — allowing for speedy transactions and low fees. Rooba is using Polygon’s blockchain technology for scalability solutions because of its ability to perform fast transactions at a much lower cost.
Yes, there will be a bug bounty program after the launch of the mainnet platform. Stay tuned on our website for more information!
No, Rooba does not track your location. Please check metamask.io and wallet connect for their relevant privacy policies with respect to geolocation services.