[ANN] New Stabletoken ROKS on the Ethereum network

[zphanjakidze]

Another stablecoin, do we really need another if we have so many of them right now? Is it really something special?

Roks will be different from other stablecoins, The existing stablecoins out there are usually designed for exchanges while ROKS is meant as a medium of exchange for everyday stuff like groceries. Other stablecoins promises 1 to 1 backing at all times. We don't promise that because it amounts to very inefficient use of capital. However, we do promise to keep the peg to USD while USD keeps its value.

Than how could you say this is stable coin while there is no guarantee of capital than it will survive in long term. I think you want to say this is another cryptocurrency but want to sell at the amount of 1 USD and that is why you calling this new stablecoin.

In the beginning, it is important that there be 1-1 peg against USD. Later, as the amount of ROKS in circulation grows, standard monetary policies can be utilized to keep it stable. All actively managed currencies go through the same phases: introduction, transference of trust, active management of quantity in circulation according to measured purchasing power, etc. A currency that is managed well will keep its purchasing power through time. Different stablecoins / stabletokens will compete according to a standard measure of stability. Some stablecoins will experiment with algorithmic stabilization mechanisms; we will use whatever is proven to work.

At some point, if and when USD loses its stability and we have gained the trust of many users, we will have to break the peg in order to keep the value of ROKS on an even keel, independent of USD. ROKS will have a variety of asset backing at that point, including volatile cryptos. There may be times when the backing value exceeds the total amount of ROKS in circulation.

In the beginning? And where will this "beginning" end? Or you don't know. As I see, USD will remain the strongest currency in the world as long as USA remains the strongest country.

[1714983027]

1714983027

[1714983027]

1714983027

[1714983027]

1714983027

[mhirthi]

Do you plan to list Evan tokens on exchnages too? Or make an IEO for them? Or they will just be used for rewarding evangelists?

[obaviet]

Are you going to make IEO, ICO or something? How are you ging to make people invest in your token?

We will have a "bounty" for evangelists. Evangelists are people who go around their area convincing vendors to install MainSale, our point-of-sale app.

It's like promoters or trading agents, do you need this evangelists only in Phillippines?

Our focus will initially be in the Philippines, but if you are interested in starting an evangelist movement in your country, we are all ears! Send us an email: contact at rockstable dot io.

I hope many people in Phillipines and abroad will become your ambassadors or so-called evangelists and they will help you to provide your solution to the different countries of the world.

[dharmapriya]

How to force people working abroad to use ROKS instead of what they use now? And, please answer, what systems are they actually using now for remittance?

True, hash to say but I don't find any good reason that ROKS could replace what people in oversea already use to send money back to their family.

The Rocks project will really be very necessary for Filipino workers to send money to their families. I have already met similar projects but only in the region of Africa.

In the Region of Africa? Very interesting. I don't think that many blockchain solutions came from Africa.

[up360247]

I dont see any details about your road map, how can I find the information about your plans?

As of the moment, we are still working on the roadmap (as yet).

Initially, we are mainly a remittance company, offering a very cheap but reliable alternative to sending money back home.

How can we use your token for the remittance? Sending directly from wallet to wallet and then what?

-Overseas Filipino Workers (OFWs) buy ROKS and a tiny amount of ETH from ExMarkets.com for sending to their relatives back home in the Philippines (the beneficiaries). They send ROKS and a very minimal amount of ETH (for Ethereum gas) to their relatives using their “wallet” in ExMarkets.com. It is also possible to buy and send just ETH.

-The beneficiary relatives receive the ROKS and ETH in a couple of minutes. They use the Opera crypto wallet in their smartphones to get an Ethereum address (account) and keep track of their money in that address. They also use the Opera wallet to pay vendors.

-Vendors have to have the RockStable point-of-sale app MainSale to be able to accept ROKS. Evangelists sells territorial rights to MainSale to the vendors.

-Vendors collect ROKS they receive as payment. At certain periods (maybe weekly), vendors sell their ROKS at coins.ph, pdax.ph, or citadax.ph for PHP or USD. Evangelists help their vendors sell their ROKS.

-RockStable sells ROKS to OFWs in Bittrex; we buy ROKS from vendors in the Philippine exchanges.

You can check out our case uses: https://rockstable.io/use-cases

Why not just to say ETH instead of ROX? And don't say it's becasue ETH is not a stable coin).

Of course, every coin can be used for remittance, but Ethereum for example is a volatile cryptocurrency so almost no vendor would accept it as payment in the destination country. Tether is too expensive for that.

[Falco111]

Do you have some marketing strategy? How will you organize the promotion of your token? Or you think that "evangelists" will help you for tokens?

[manureal21]

What is or will be the price of EVAN tokens and will it be connected to ROKS' price?

EVAN tokens can vary in price, but ROKS is currently pegged to USD.

Speaking honestly, EVAN tokens can be dumped and ROKS not (I hope that).

[mrrettig78]

Is ROCKS backed by an equivalent amount of traditional fiat currencies, like USD, which is held in a designated bank account?

[bibica1368]

-Overseas Filipino Workers (OFWs) buy ROKS and a tiny amount of ETH from ExMarkets.com for sending to their relatives back home in the Philippines (the beneficiaries). They send ROKS and a very minimal amount of ETH (for Ethereum gas) to their relatives using their “wallet” in ExMarkets.com. It is also possible to buy and send just ETH.

-The beneficiary relatives receive the ROKS and ETH in a couple of minutes. They use the Opera crypto wallet in their smartphones to get an Ethereum address (account) and keep track of their money in that address. They also use the Opera wallet to pay vendors.

-Vendors have to have the RockStable point-of-sale app MainSale to be able to accept ROKS. Evangelists sells territorial rights to MainSale to the vendors.

-Vendors collect ROKS they receive as payment. At certain periods (maybe weekly), vendors sell their ROKS at coins.ph, pdax.ph, or citadax.ph for PHP or USD. Evangelists help their vendors sell their ROKS.

-RockStable sells ROKS to OFWs in Bittrex; we buy ROKS from vendors in the Philippine exchanges.

You can check out our case uses: https://rockstable.io/use-cases

This is all good but why you would need new coin for this, you could easily achieve this by using any other currency with fast transfer which would be changed in the other end to USDT or FIAT fast enough.
Still the question remains also , those who would need to use those transactions .. do they have smartphones and knowledge how to use them This still is my main concern.

Agreed, now be have a bunch of cryptocurrencies, very fast, very cheap and some of them are being used widely. USDT isn't the best stablecoin, though.

And what is the best stable coin, on your opinion? Or we don't have the best one yet? So Rocks might be the best.

[EarnBitcoins.XYZ]

How can I be sure that Rocks token price won't fall under $1? Even you say, it's not reasonable to peg your currency to USD only and we heard many scandals with other stablecoins so they aren't stablecoins anymore.

They only said Rocks will be pegged to USD as long as dollar keeps its value.

[workasset1]

Another stablecoin, do we really need another if we have so many of them right now? Is it really something special?

Roks will be different from other stablecoins, The existing stablecoins out there are usually designed for exchanges while ROKS is meant as a medium of exchange for everyday stuff like groceries. Other stablecoins promises 1 to 1 backing at all times. We don't promise that because it amounts to very inefficient use of capital. However, we do promise to keep the peg to USD while USD keeps its value.

Than how could you say this is stable coin while there is no guarantee of capital than it will survive in long term. I think you want to say this is another cryptocurrency but want to sell at the amount of 1 USD and that is why you calling this new stablecoin.

In the beginning, it is important that there be 1-1 peg against USD. Later, as the amount of ROKS in circulation grows, standard monetary policies can be utilized to keep it stable. All actively managed currencies go through the same phases: introduction, transference of trust, active management of quantity in circulation according to measured purchasing power, etc. A currency that is managed well will keep its purchasing power through time. Different stablecoins / stabletokens will compete according to a standard measure of stability. Some stablecoins will experiment with algorithmic stabilization mechanisms; we will use whatever is proven to work.

At some point, if and when USD loses its stability and we have gained the trust of many users, we will have to break the peg in order to keep the value of ROKS on an even keel, independent of USD. ROKS will have a variety of asset backing at that point, including volatile cryptos. There may be times when the backing value exceeds the total amount of ROKS in circulation.

In the beginning? And where will this "beginning" end? Or you don't know. As I see, USD will remain the strongest currency in the world as long as USA remains the strongest country.

Our promise is not to peg Roks to USD forever; rather, the promise is to keep its purchasing power fairly constant across a basket of commodities. The USD is the most widely-accepted and most stable of all fiat, so it makes sense to just peg against it while it is stable. But once USD loses its stability, it won't make sense to keep the peg. Instead, independent groups will measure ROKS purchasing power across a standard basket of commodities, across different locations around the world. These independent groups will be there not just to measure ROKS purchasing power, but also purchasing power of the rest of stablecoins existing by then. That makes us stand out from other stablecoins.

[icelee226]

ROKS a stable token for retail vendors. This app allows small businesses worldwide, within territories defined in payment system, to accept payments in ethers or ROKS.Roks will be used for everyday transactions and purchases like groceries, services and transportation. It will help encourage and promote crypto-adaption globally.

[sdcyxiaolong]

Is there some OFW's here? I know there are huge number of them in USA. But in another countries too.

[supermarioxp]

I dont see any details about your road map, how can I find the information about your plans?

As of the moment, we are still working on the roadmap (as yet).

Initially, we are mainly a remittance company, offering a very cheap but reliable alternative to sending money back home.

How can we use your token for the remittance? Sending directly from wallet to wallet and then what?

-Overseas Filipino Workers (OFWs) buy ROKS and a tiny amount of ETH from ExMarkets.com for sending to their relatives back home in the Philippines (the beneficiaries). They send ROKS and a very minimal amount of ETH (for Ethereum gas) to their relatives using their “wallet” in ExMarkets.com. It is also possible to buy and send just ETH.

-The beneficiary relatives receive the ROKS and ETH in a couple of minutes. They use the Opera crypto wallet in their smartphones to get an Ethereum address (account) and keep track of their money in that address. They also use the Opera wallet to pay vendors.

-Vendors have to have the RockStable point-of-sale app MainSale to be able to accept ROKS. Evangelists sells territorial rights to MainSale to the vendors.

-Vendors collect ROKS they receive as payment. At certain periods (maybe weekly), vendors sell their ROKS at coins.ph, pdax.ph, or citadax.ph for PHP or USD. Evangelists help their vendors sell their ROKS.

-RockStable sells ROKS to OFWs in Bittrex; we buy ROKS from vendors in the Philippine exchanges.

You can check out our case uses: https://rockstable.io/use-cases

Why not just to say ETH instead of ROX? And don't say it's becasue ETH is not a stable coin).

Of course, every coin can be used for remittance, but Ethereum for example is a volatile cryptocurrency so almost no vendor would accept it as payment in the destination country. Tether is too expensive for that.

OK, you may be right, but what about another stablecoins? There are plenty of them.

[fusion_lab]

How to force people working abroad to use ROKS instead of what they use now? And, please answer, what systems are they actually using now for remittance?

True, hash to say but I don't find any good reason that ROKS could replace what people in oversea already use to send money back to their family.

The Rocks project will really be very necessary for Filipino workers to send money to their families. I have already met similar projects but only in the region of Africa.

In the Region of Africa? Very interesting. I don't think that many blockchain solutions came from Africa.

You aren't right. African countries are very different fro each other.

For example, according to a survey conducted by the social network management company Hootsuite and the global agency Wearesocial, 10.7% of Internet users in South Africa have cryptocurrency.

[d3m1tha]

I more worried about what percentage of people, who work abroad, use cryptocurrency for remittance? Is there any statistics?

[manureal21]

How can I be sure that Rocks token price won't fall under $1? Even you say, it's not reasonable to peg your currency to USD only and we heard many scandals with other stablecoins so they aren't stablecoins anymore.

They only said Rocks will be pegged to USD as long as dollar keeps its value.

I may be wrong but I think that USD will keep its value for a longer period than Rocks)))

[hebi16]

How are you going to promote your coin and create a community? Do you have some marketing strategy for that?

[alienware]

CMC doesn't know Exmarkets exchange, and it seems it's been made only for launching IEOs

Is it true? Has anyone here ever traded on Exmarkets?

[nouurhan]

I'm waiting for the bounty and hope you will change your decision and decide to make it.