we hosted an amazing AMA with RootKit Finance on the 14th of July
And here we will put some of the best questions:
Q1) Can you introduce yourself to our community?
I’m part of the Rootkit Finance team, we’re a Disruptive DeFi group who’s primary goal is to influence money.
Personally, I’m a crypto veteran, joining the crypto space as a Bitcoin miner in early 2010. And have been here since. I’m very proud to be part of the Rootkit team.
Q2) Can you briefly tell us what is RootKit Finance?
Rootkit Finance was created in early November 2020 by a group of anonymous solidity developers, whose primary goal was to disrupt Defi.
In doing so, we created a brand new class of ERC Token. We called this token ERC-31337. Which in old hacker speak for Elite.
ERC-Elite is a token wrapper.
Rootkit, for it’s first project, wrapped ETH to create a new type of market on Uniswap.
This market is different from any other because ERC-Elite lets us reuse the Liquidity in the Uniswap pool to buy back our token.
We were the first Project to create Buybacks in defi!
Our wrapped token on ETH, which allows us to buyback is called $ROOT.
Whenever we want, we can pump the price of ROOT using our technology of wrapping and buybacks.
When we proved that our buyback works on Uniswap, we wanted to prove that it works on BSC too…. so we wrapped BNB.
Our wrapped BNB token is called $UpBNB ….. and once again, we proved we can pump the price of our token by using our wrapper to buyback and push the price up.
Then we thought, what else can we wrap? LOL…. so we wrapped Tether. We call it $UpTether…
$UpTether seemed pretty boring, so we though, how can we prove this works anywhere? so we moved UpTether to Matic Polygon.
So now Rootkit proved it can wrap, buyback, and pump any token anywhere! No one else in Defi or Crypto can do this! We invented it. Awesome,
So now we have $ROOT, $UpBNB, $UpTether…. we can wrap anything…. Soon we will have $UpCake, and $UpMatic.
We plan to wrap 900 tokens…. we will copy CMC with our own UpMarketCap.com
Each one of our tokens will pump up! So if you want to buy BNB, just buy UpBNB instead, if you want to buy ETH, just buy ROOT instead, etc.
Q3) Let’s now talk about the milestones you have achieved so far and about your upcoming plans?
So Rootkit is all about inventing things, our GitHub is full of unique code, we don’t just copy/paste Safemoon 😛
What we’ve invented so far:
- Liquidity Reuse
- Brand new Token Class, ERC 31337
- Market Generation Events – first first fair launch system ever. (more on that later)
We also entered into the Hack Money ETH Global Hackathon, where we created a Pandemic Token, which aggressively self replicates itself like Covid.
We invent every month! That’s what we like to do, and each time, we want to prove that money can be played with by anyone.
We have also introduced Staking to our Tokens, using xSushi and we have the most unique NFT system ever created.
So let’s just briefly touch on our NFTs… So hopefully you all know what NFTs are about and what they do… well we took it one step further.
Our NFTs are the first in defi, to allow you to UPGRADE your NFTs…. If you have 3-5 common NFTs, you can upgrade them using a Forging contract into a “SuperCharged” NFT. It’s a bit like evolving a Pokemon,
Our Roadmap has enough in there to keep us developing well into next year. Rootkit will never stop inventing brand new things to make everyone enjoy Defi in a safe environment. We’ve proved we’re safe by launching token after token and never scam or rug! We’re here because we like to be!
Q4) Every project has a story behind their name, Can you tell us more about the story behind this? Who are the team behind this project? can tell us their background?
Sure, so Rootkit was an early internet term to describe hacking computers. Becuase Rootkit has been able to manipulate Uniswaps AMM, we like to call it hacking. So Rootkit Hacks Money 🙂
The story behind this started in 2008 when we had the financial crash. It damaged many lives and was all about greed of money. Rootkit developers have been designing disruptive money products ever since, to prove one thing – money is worthless, and the best way to prove it, is to give it all away for free!
Yes, Rootkit spends most of its time and effort developing systems that gives money away.
The team behind Rookit are all anonymous, but the lead developer is industry renowned, and extremely well respected. If the lead developers identity is known, it will not take long for people to realise who it is. We’re all very very pleased to have this person work on Rootkit projects. This person has been in crypto since 2009 and a Solidity developer since ETH launched.
Q5) DeFi is one of the hottest and most sought-after topics in the blockchain space right now. Can you share your opinion on DeFi with us? Do you think DeFi will disrupt the current financial system? What is RootKit Finance’s approach to the DeFi sector?
We agree with all of this 🙂
Rootkit is pushing Defi to its limits.
The best example is this:
In traditional finance, when a company, let’s say Apple, wants to buy back its own stock because they’ve done well that year, and they want to push their stock price up, Global Indexes like Nasdaq let’s them do it. It’s so normal it happens every day “Company instructs stock buybacks” – yet no one was doing it in Defi…
If DefI wants to beat traditional finance, it needs to do everything better, Rootkit created stock buybacks – only much better!
DeFi WILL takeover normal finance, it is only a matter of time, it’s down to you all to pick the safe projects that have proved they can survive more than 3 months… Rootkit is nearly a year old, and a roadmap that is another year long! We’re not going anywhere and we’ll continue to invent new finance products for crypto.
And here we will put best questions from our members and RootKit Finance fans:
Q1) The cryptocurrency market is increasingly competitive. What is your unique “selling point”? and how will you take advantage of it?
Without doubt our unique selling point is our developers. We don’t copy paste code, we write it ourselves. We’ve invented all of what we do and we will continue to do so.
We can wrap any token anyone wants, and then we can pump its price whenever we like.
We launch our tokens with the safest way possible, we don’t do presales, or stealth launches, or whitelists, or any other system that is really just designed to let a whale or sniper bot steal from us all. Our system is whale/bot proof. We call it the Market Generation Event, and we encourage any developers out there to check out our GitHub and fork our code. Launch your tokens using our System, It’s the safest ever invented. A Rootkit Invention,
So a lot of people also ask us, how is it possible to do that, how can you pump a price of a token.
this is an illustration of how we can reuse liquidity to pump a price.
the key takeaway is our price floor. A system designed to make sure that a token price can never fall below this line, and so everything under that line, we can reuse to buyback the token pushing the price up. This is very different to other copy buyback tokens like EverRise who dont know how to do this, and just use Fees.
and a last point to make is about how all of our tokens and systems are linked with each other… a lot of you will be thinking “wait, what is the token?” and you’re right, you did see me mention 3 tokens 🙂
But all tokens are Rootkit tokens, and all of them feed back to the first $ROOT .
Q2) Will you have any other DeFI feature like staking, yiekd farm or NFT in the future? Can share a little about your roadmap?
Sure, we introduced Staking to UpBNB and UpTether, we use the xSushi style of staking, We allow our users to interface with the contracts directly to generate the latest xSushi reward conversion. An example of how we like to empower our users.
We invented SuperCharged NFTs. The first ever upgradeable NFT system using a Forging contract.
And in terms of future projects. we plan to use Uniswap V3 to really push our Tokens up but also create 100’s more each day. by the way, uniswap v3 will transform Defi… you just need to find developers that understand how to use it… a bit like Rootkit developers 😉
But our most ambitious roundmap item is Octalily, which we soft launched on Friday, and has been running for a few days now. It is the first ever self replicating token generation system created.
Octalily gives users a chance to own their own Token…..
I dont mean you buy a token and put it in your wallet… no, I mean YOU OWN the contract! It’s your contract address. And you can control what it does, you can buy and sell it, you can transfer it around…. but the most cool part, is whenever you want, you can pump it’s price using our Tech!
We’re giving users a chance to own their own contract and pump it themselves.
Please keep an eye out for future announcements on how to engage with this.
this is what owning your own contract looks like 🙂 I hope everyone in here will get a chance to own your own token and tell your family and friends that you’re a Defi Developer 😛
Q3) Do you have any Coin Burn / BuyBack systems or any $Token Burn plans to increase the value of Token & attract Investors to invest?
We invented Buybacks 🙂
Don’t let any other token make you beleive they were first… they are not!
Rootkit created it and our system is much more powerful than the copiers. Ours buys back using liquidity not fees!
When we buyback, our buybacks are much larger.
It’s an attractive investment in Rookit because we can pump the price of our tokens when we like, and we’re safe for the long term. We’re not going away!
Q4) Projects that are not traded on major exchanges remain unnoticed. What do you think about listing the token on the leading exchanges?
This is a great question.
Because we have effectively hacked Uniswap’s Auto Market Maker, we become a decentralised exchange token only. DEX.
If we listed on a centralised exchange like Binance, they will not let us pump our price. So we won’t join any CEX.
We want to pump! always! No one should stop us!
This was a nice video we made just before we pumped UpBNB on BSC 🙂
It’s nice to have complete control over the system. It means our users make the most money.
Q5) Can you list 1-3 killer features of Your Project that makes it ahead of its competitors? What is the competitive advantage your platform has that you feel most confident about?
Our project is all about feature richness…. Let me list a few here now…
UpMarketCap.com – our 1:1 map of our Tokens against CMC
UpFund.finance – our Control Centre for Finance management – Just connect your Web3 wallet and see the buttons (dont worry you can’t press them 🙂 )
UpTokens – UpBNB.finance , UpTether.finance Rootit.finance and soon UpMatic and UpCake
Octalily.finance – our Flower Token Garden. Where anyone can own their own Token.
Plus the reinvention of NFTs, Staking, and hacking AMMs.
Rootkit is all about disruption of finance to make it easier to make money. We will never stop, and there is NO ONE else out there like us!
To give you an idea of how big our Market Generation Events were…
For UpBNB we raised 5,300BNB – can anyone think of a bigger raise?
For Root on ETH, we raised 5,500ETH – easily of the biggest presales ever on ETH!
People can see what we are doing is unique and are happy to invest.
Q6) They recently had problems with the limits that ETHEREUM has, and they announced that they plan to extend it to more chains. Can you tell us if you already know which one or which those other chains would be and if you plan to launch it soon?
Yes, so we started on ETH, and we also saw the limits but also the Gas surge. So we launched onto more chains. UpTether is on Polygon Matic, and UpBNB is on BSC.
We’re also going to start working with ChainLink to see if we can something with their data feeds.
Q7) Where do I get information about #RootKitFinance team? Why do you prefer to be anonymous? Do you have a plan to identify #RootKitFinance team later?
I posted a link to an Interview from Professor Kronos , our lead developer. There are plans to dox the dev team in the future, but as the crypto space is so unregulated, the dev team have no protection from any regulatory body, there just isnt any regulation today. and it’ll be a problem for us. Soon maybe.
Q8) Do you have venture, small-pack, and farm business plans for the future? If you have what?
This guy knows!! Well done Smaiya…
Yes, we would like to enable more and more users to work with our Tokens, and in the future we plan to allow you to swap our UpTokens with each other. It’s an extremely difficult development task, but we don’t do easy things here.
Q9) Will there be any updates from the marketing PERSPECTIVE in the future? What do people expect in the coming days in terms of #RootKitFinance marketing activities?
Marketing is one of the hardest and most expensive things to do in Defi. We always have a plan to market our projects, but there are too many fake businesses out there. We’re very proud to have joined up with Crypto Titans for this AMA.
We also have many Press Releases going out into new outlets, so please keep a look out for details from our Announcement channel… here.
Q10) Most investors are focusing on the token price with no real understanding of the use cases and long-term value of the project. In this case, what are the benefits for investors in holding $ROOT token? Is there any plan to increase demand for $ROOT in long term?
Excellent question Dadu.
Root is paired directly to ETH.
So… if ETH goes up… Root goes up… if ETH goes down Root goes down.
This is the same for all of our tokens, UpBNB with BNB etc.
The benefits to investors is as simple as…. if you want to buy and hold ETH for the long term, then buy and hold ROOT. Then, whenever there is enough money in the “vault” we will pump the price. So you end up with even more ETH than if you just bought ETH directly.
We also plan to give Root holders: Staking, NFTs, DAO, Governance, and maybe, even the UpFund Control Center to pump themselves!
And this was the end of our AMA with RootKit Finance.
If you have any other questions you can ask here:
ℹ️ℹ️ Useful links ℹ️ℹ️
Website :- https://rootkit.finance/#/
Medium :- https://rootkitfinance.medium.com/
Twitter :- https://twitter.com/rootkitfinance?s=09
Github :- https://github.com/RootkitFinance/