What is ROG By WaykiChain & 3rd Round Of ROG Genesis Yield Farming

Rods of God (ROG) derived its inspiration from the virtual space-based weapon system named Rods from God (RFG). This hypothetical system is designed with a pair of satellite levels. The first one is to shelter rods made with heavy metals like uranium, titanium, and tungsten while the second satellite platform is going to shelter the sets used for targeting and communications.

It is based on this RFG architecture that WaykiChain decided to give a name to the smart asset, i.e Rods of God. This is the synthetic asset system tagged Wayki-X ROG (Rods of God). Empowerment and functionality of the ROG stem from the synthetic asset system itself which is decentralized in nature.

Applications of ROG

ROG is so integral to the Wayki-X system that all stakeholders in the system bump into it at every turn. For example, the issuance of synth in the network is not problematic. The initial step is to do a pledge of ROG which will then be followed by the generation of xUSD. It is at this point that the purchase of a synthetic asset and xUSD can be done. The architecture allows for a set of three kinds of stakeholders and each has its specific mechanism.

The first set has to do with those referred to as the pledgers. Just as the name implies, the only thing that the pledgers do is just to pledge and not engage in trading deals. They are the ones responsible for the pledging of ROG at a particular ratio and see to the generation of xUSD. This same system distributes rewards in a way that they are issue out via inflation.

If a user has to redeem the ROG, the corresponding xUSD must be burnt. If it so happens that the C-Ratio is not up to 800%, there is no place for ROG redemption, production of more xUSD, and rewards. In such an instance, before the redemption of ROG can be done, the investors will have to improve their debt status via burning xUSD. This will then lead to an increase of the C-Ratio which allows the user to fulfill the necessary obligations.

It is possible to do a pledge of ROG, produce xUSD, and purchase synthetic assets (synths). This implies that it is not possible to do a direct purchase of ROG without doing the pledge and there is a valid reason for this. Doing a direct purchase of ROG is not good for the liquidation of transactions involving transactions of synthetic assets (synths).

Further Info:

Official Site: http://www.waykichain.com/
Twitter: https://twitter.com/wayki_chain
Telegram: https://t.me/wiccofficial

Reference from: https://medium.com/@waykichainwicc/waykichain-launches-phoenix-yield-farming-with-wicc-wgrt-dual-pool-4f822ca3fb4b