[Music] and welcome to this uh rooto workshop. We're going to talk a little bit about roofto uh what is it? what we are doing here and then uh what you can do or what kind of uh bounty tracks we have here today and then we are going to talk about the grants program that we have we have two different ways to uh continue working with rooto um so yes let's get started uh okay first uh my name isro I'm from Argentina living in Spain I'm a software engineer. I work for Rootstock Labs and I'm at in the Devex team. So first thing what is uh Roto?
So Rosto is a side chain is actually the first side chain uh on Bitcoin. We are been here since 2017. And what what is the the idea of a side chain is that we run on parallel to bitcoin. And so we are completely secured uh by bitcoin through a process which is called uh bitcoin proof of work uh through the merge mining. So every block that we mine uh it has a specific uh block hash number.
It's a hash that it's also introduced on every bitcoin uh block. So in order to break rooto you have to break uh bitcoin. So this brings a lot of security. But the problem is that bitcoin uh you cannot uh use smart contract on bitcoin. So we needed to add the programmability because h our idea what we wanted is always wanted to do is to bring defi into bitcoin.
So for that our uh blockchain is an EVM compatible blockchain. So uh you can use uh any kind of smart contract using Solidity or Viper and you can deploy it uh as you do in any Ethereum based uh blockchain and okay so in a nutshell has been designed to combine the security and the store of value of Bitcoin with the compatibility and the programmability of Ethereum. So we are combining the best of both both worlds here. What makes it outstanding? First the compatibility and as I say every Ethereum smart contract can be deployed on rooto and we have all the Ethereum token standards like ERC20, ERC 721 or any token even NFTs.
We have the security uh through mer mining. Uh this is what secures uh bitcoin and as I said bitcoin is a side chain it's not a layer two uh and the main difference is that the side chain runs on parallel interconnected to bitcoin and the layer two runs on top of the layer one uh blockchain and usually they take all the transactions and the the consensus off chain and then they put it again into the chain afterwards. We do it everything on chain which is h the the most secure way and we have a two-way peg is a proofof work uh bridge between bitcoin and rooto. Uh this is a very secure and decentralized uh bridge. Uh so that way you can get your bitcoin uh send it to the bridge.
It gets locked in the bridge in a decentralized bridge and then on rooto you h there is an unlock of RBTC which is the native token and you can use it for transaction fees and for uh many different other uh operations that I will see you uh let you know later. Of course, everything is open source and and it's uh built also by the by the community and there are many different uh defense systems on many different layers also as a store of value because as I say you can uh keep having your uh bitcoin and the rvtc which is the our native token has the same value of bitcoin and yes then Uh we also have this scalability. Uh we have uh between 30 and 20 seconds uh blocked block times. This is being worked actually in in this moment by the team to reduce it to 5 seconds in the future. And we also have low transaction fees.
Uh so this is a way to to uh enable bitcoin for defy. some stats we have uh more than 80% of bitcoin hash rate so uh that means that bitcoin miners are also working uh for roto they it doesn't add extra computational cost but they get a reward uh from the transaction fees um so that's why incentivize them to to do it and 80% of bitcoin miners is a lot is a a lot to have. We also have 300 million of total value locked in our DeFi protocols and more than 3,000 Bitcoin is locked in our bridge and we've been here since 2017 and we had 100% uptime, never went down, never hacked also the the chain. We have a large ecosystem. Um for example we have different D5 platforms like Tropical Sovereign Okrade.
We have some stable coins. Um and in in this case we have an a very interesting case that helps to understand uh how to bring DeFi to Bitcoin. Um there is one of the protocols that created um a stable coin which is called doc and the stable coin the underlying asset of that stable coin is bitcoin. So you effectively have your Bitcoin and you can mint the OC and then you can go to another protocol which is Tropicus and you can lend it there and you will get a yield on your uh doc on your stable coin and then you can uh go back to Bitcoin anytime. So you you are effectively bringing DeFi to Bitcoin, you're holding your Bitcoin and you're creating uh more value.
Um and this also allows us or this protocol to create um micro lending or for people who are not bankerized and they need some kind of h they they need to borrow money they can do it this way. And the wallets all of the Ethereum wallets are compatible. So you can use uh MetaMask you can use uh Ledger and any wallet that you need. We are on the main global exchanges like uh Binance, Gate uh etc. We have different on and off ramps in case you want to go to fiat money or uh from fiat money and the main developer tools you can uh use third web the third spot uh tenderly the graph um different things and the bridges of course you can use uh symbiosis with oku you can uh bridge uh you different uh from different networks and then Yes, a little bit more on dev tools and libraries.
any kind of uh library uh or framework. You can use hard hat. You can use um um foundry to uh build and deploy your contracts. And of course you can take advantage of uh the web integration, etherspot, use gel, gelato, tenderly the graph uh alchemy of course block scouts um yes many many tools for for developing and then after the this hackathon we have different two main different ways to get grants. One is the by rotolabs.
You can uh call it like a decentralized way, centralized way. You just go to this site and uh there are currently $3 million in prices in this wave uh which is distributed uh among different grantees but it's a straightforward process. You can go there uh apply for for a grant and you're going to be in contact with uh our team. And so if you're planning to keep working in this project or on another another project after the hackathon, you can just go for it. And there is also another way to do it which is uh there is a DAO which is called rooto collective and there are grants and rewards.
You can go there but this is uh the interesting thing here is that this is a decentralized way. So you have to uh propose make a proposal there and the stakers of the dios are going to vote if they like it or not like it and they have a a time frame and if if your proposal uh has uh exist the three the threshold then your grant is going to be approved and yes this is a more on on rooto collective This is a collective powerhouse. Um it's a decentralized community. So all the stakers are there and they just vote and you can also if you want you can stake and also be part of the collective and vote on other proposals and also the voters of the proposal have rewards on what what they vote for. So it's it's another interesting uh things to do.
So in this hackathon what to build we have two different tracks we have the everyday defi this is uh on defi but it's a general you can talk you can think about different things and the freestyle which is more more more much more general so on defy things like uh lending and borrowing uh for bitcoin creating I don't know a marketplace place yield farming. If you can think about how to get yield uh for users for specific users liquidity pools for that we have for the first place we have $4,000 for the second place $2,000. Then on the freestyle track much more general uh but anything with AI and real world assets tokenization I don't know um trusted execution environments you can think about something else and and and go there if you want you can go to our booth and validate the ideas no problem with us and now how to get started so we have a lot of in of guides and quick start guides on in our developers portal. So you can scan it and get it uh for later. But this is just an example on how to get started with hard hat uh where you will be able to compile the project and deploy it.
Then you can uh even um verify the contract on the blockchain. Um so there is also there are guides for Foundry and for uh the other integrations that we have. We also have a cheat sheet for developers where you will find all the information that you need. For example, you you will find the RPC nodes uh how to connect to the blockchain, how to uh deploy contracts, every uh different stuff that you will need, how to add test net tokens. Um we have a faucet for that and it's very easy to use the for the tokens.
For the test net tokens, we have a a code that you have to input into the application which is going to give you more tokens than the usual uh page. Any problem with that, you can contact us and we can help. And okay, that's uh all for the presentation. But now we have time for questions. if anyone has any questions.
Yes. So the question if I'm going to repeat it for the camera but the question is if you can use foundary force and yes you can use it um any anytime. Any other questions or doubts? Yes. So the question is is if uh we have to use hard hat or we can use remix or something else.
And the question is it's not mandatory to use handhat. You can use uh whatever you want and you can definitely use remix. So it's integrated and and easy very easy to use. So another something else. Do you want to know more about um the guides or other integrations that we have?
There is we we have also a pamphlet that you can get in in our boot with all the integrations with all the tools that you you can use. You can use uh if you want to do something uh to interconnect with other blockchains you can use hyperl layer zero. uh you can go for the graph where you can create a subgraph and get a lot of uh data from the blockchain which is uh very very useful for that. Um then we have we have the explorer. You can use uh blocks or our rooto explorer.
Both of them had a have a public API where you can query uh different uh events and and yes for interconnecting to the blockchain from your uh smart contract or application you can use our we have integration with alchemy or you can also use our RPS RPC API uh it's very easy to use you just uh connect it with and and it has enables uh methods like get logs and everything that that you will need. Okay. Uh something else to Okay, about the Yes. For the prices, we have for the first prize, we have um $4,000 on everyday DeFi and 2,000 on the second place. On on the freestyle, we have $3,000 on the first one and $1,000 on the second one.
Okay, I think that's it. If there are no more questions, then we are we are ready. If you need any kind of support, you can go on to on discord. Uh if you don't see us on the boot, but we will be also on the boot and uh any questions, anything that you need, you can uh come and ask. Uh if you want if you have any problem technical problem or you want to validate the idea you want to uh think about something or chat with us uh about grants or different steps then you are more than welcome and okay that's it.
Thank you very much. [Music]
Automatic transcript — names and jargon may be misspelled.