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The Root Network allows you to create digital assets and tokens that can be used and exchanged across different applications, experiences and destinations in the open metaverse.
Our on-chain assets protocols support existing industry standards such as ERC-20, ERC-721, ERC-1155 and XLS-20, ensuring that digital assets remain compatible with a diverse range of metaverse applications and experiences. However, we provide additional functionality and enhanced user experience by connecting these to our in-chain runtimes. By leveraging these common standards, we promote seamless interoperability across the entire web3 ecosystem, providing users with a unified and frictionless experience.
To support on-chain assets protocol, we have several pallets that you can utilize in your dapp:
assets
pallet (ERC-20 Standard)Pallet Native API References and code examples.
Pallet EVM API References and code examples.
nft
pallet (ERC-721 Standard)Pallet Native API References and code examples.
Pallet EVM API References and code examples.
sft
pallet (ERC-1155 Standard)Pallet Native API References and code examples.
Pallet EVM API References and code examples.
What's the difference between Native API and EVM API?
Utilizing the Ethereum Virtual Machine (EVM) Smart Contract module as well as our prebuilt core runtime modules, developers can build The Root Network dapps with smart contracts.
The EVM integration ensures extensive support for smart contracts, dapps, and existing Ethereum asset collections, facilitating interoperable development and the effortless transition of Ethereum functionality to The Root Network with bidirectional communication. With the integrated EVM, developers can further enhance The Root Network's capabilities by deploying their own smart contracts, fostering deep connectivity to ROOT's native runtimes for an enriched developer and user experience.
EVM is the mechanism developers must use to run smart contracts on the Ethereum blockchain. The EVM mechanism reads smart contracts written in Solidity.
To integrate smart contracts into The Root Network blockchain, we built our very own EVM mechanism within our blockchain runtime. This EVM runs within The Root Network blockchain protocol and is able to read Solidity smart contracts and execute them on The Root Network. This gives The Root Network developers access to smart contract functionality and also means that any code previously written for Ethereum can now run on The Root Network blockchain natively.
The Root Network’s EVM support has a few important implications:
Access Ethereum code and infrastructure: The Root Network dapp developers can take advantage of the code and infrastructure built by the Ethereum ecosystem when building The Root Network dapps.
Easy dapp migration: Ethereum dapp developers can easily migrate their dapps to The Root Network for faster transaction speeds and lower transaction fees.
Speak your language: Solidity developers can keep using their favourite tools when developing on The Root Network.
Smart contracts on The Root Network: The EVM module allows you to call The Root Network modules from your smart contract code. This means you can create custom on-chain logic on top of The Root Network runtime modules.
The EVM module now gives dapp developers a choice of building methods. You can implement your dapp using smart contracts through the EVM module or runtime modules. Depending on what you are looking to build, choose one of the methods:
The runtime modules are the most efficient and cost-effective method of developing on The Root Network. All runtime modules are written in Rust, which makes them highly optimised on the blockchain’s protocol. The runtime modules also provide a selection of standard dapp functionalities made easily accessible through a simple JavaScript API. This helpful resource can save you a good amount of development time. We recommend developers explore the modules to check if the problem you are addressing has already been sorted by the provided functionalities before writing your custom smart contract.
The EVM module offers more flexibility. You can create your own custom logic to be deployed at any time. The EVM also allows you to use Solidity and tooling from Ethereum, which you may be more familiar with. You can also call The Root Network modules from your Smart Contracts to combine the power of The Root Network modules with existing Ethereum dapps.
To get building your dapp using the EVM module:
Using The Root Network’s NFT runtime module, you can mint and trade NFTs on The Root Network without ever needing to touch a smart contract. Instead, users can create custom NFTs using only a Javascript API or point-and-click with a user interface (UI). This not only simplifies the process of minting NFT assets for everyone but also ensures that creators are not restricted to a particular marketplace. The following features are designed to simplify the storage, sharing, and usage of NFTs:
The first step to creating your NFTs on The Root Network is creating a specific collection to store groups of tokens. This makes it straightforward to organise your tokens by a common theme, such as an artistic feature, a timestamp or even a buyer. A collection can also contain just a single NFT if you would prefer individual groupings.
To create an NFT collection, you must define a schema (arrangement) of attributes all tokens in the collection could contain. These could be characteristics such as:
General appearance (i.e. data represented within the NFT)
A specific timestamp
A specific creator
A naming system
A royalties scheme for secondary sales. This allows one or more creators to receive a set % of a sale price on all sales of your NFT
Finally, you must give your collection a name. The more discoverable, the better!
Once your collection has been created, you can start actually minting your NFTs. At this point, you can assign the token owner and individually determine a fixed price or royalty scheme.
To mint and trade NFTs on The Root Network, there are a couple of pallets you might want to check out:
nft
pallet (ERC-721 Standard)marketplace
palletThere are three levels of participation with increasing responsibility and reward profiles. See the table below for a high-level explanation of the different levels, rewards and risks. For early backers, as outlined in Tokenomics, we are rewarding up to 10% of the total supply of ROOT tokens over 260 weeks as part of our Bootstrap Rewards.
Please note tokenomics for The Root Network are subject to change in future.
Participation Level | Rewards | Risks |
---|---|---|
All participants are rewarded at the end of the 90-day reward cycle, and you must still be staking in at the end of the 90-day reward cycle to receive your rewards.
Note that you can either stake or nominate from the same wallet.
Stake your ROOT tokens for a reward cycle and choose not to nominate any validators. This is a low-risk method of participating.
By not taking on slashing risks for a nominator, your reduced risk is paired with a reward proportional to your risk.
You can stake at any point of the reward cycle. Your rewards are prorated by the duration you staked.
How to stake? Refer to this section.
Withdrawing your funds from staking involves two steps in canceling a stake:
Unstake: This step schedules the unlocking and removal of some of the bond from the staking system. It's important to note that when you begin the unbonding process, you are still staked until you withdraw.
Withdraw: After the unstake process is complete, it returns the unstaked funds to your stash account. Withdrawal can only be performed once the unstake process has finished.
Note that there is a time delay of 28 days for unstaking. You will not receive any rewards during the 28 day period, because the stake is in transit and cannot be used for any purposes. This 28-day waiting period is an industry-wide practice designed to prevent malicious actors from immediately exiting the system with their stake.
This is the next level of participation. To become a nominator, you need to stake at least 25 ROOT.
During the staking flow, you choose to nominate one or more validators. You can nominate at any point in the reward cycle. Your rewards are prorated by the duration you staked.
In each Era (24 hours), the protocol elects validators to complete blocks and transactions, earning them Work points. When you nominate multiple validators, you increase your chances of earning rewards from elected validators. The nomination algorithm automagically determines how best to allocate your nominated ROOT equally across active and earning validators for each Era. It's worth noting that most nominators will likely see only one active and earning validator during an Era. That means all your staked ROOT will be nominated to the one active validator.
Note: Some validators may become oversubscribed. If this happens, only the top 256 nominators (sorted by the amount of ROOT nominated) will earn rewards. Oversubscribed validators will have badges clearly indicating their status. You can also exclude them by clicking filter and selecting exclude oversubscribed validators.
Validating is tailored for more technically-minded participants. Validators play a critical role in forging blocks and completing transactions on the network. This role demands technical knowledge, infrastructure cost, and entails higher rewards, albeit with additional risks.
For a comprehensive guide on how to become a validator, see Become a Validator.
In The Root Network, slashing is a pivotal tool to counteract harmful actions by imposing penalties on validators acting counter to the network's welfare and that of their backers (nominators). Such deterrents ensure that validators, driven by the potential loss of their staked tokens, are incentivized to act favorably for the network.
A validator's misstep or adversarial conduct triggers the slashing mechanism. Such behaviors could range from prolonged unavailability, like being offline with numerous others, launching attacks on the network, or employing altered software. The magnitude of the slashed amount is directly proportional to the gravity of the misdeed. Slashed ROOT will go to The Root Network Treasury.
Minor offenses (like a validator being offline for a prolonged period) will not incur slashing. They will stop validating until the issue is fixed, and they re-declare their intention to validate. The slashing mechanism is triggered only if 10% or more active validators simultaneously go offline (which could mean there’s an attack on the network).
On the staking dashboard, when you nominate a validator (or multiple validators), you will see one of three statuses:
Inactive: This means that the validator you nominated is not nominating in this current Era (if you’ve nominated several validators, all but one will display as inactive).
Waiting: You will see this status when you first nominate a validator or change nominations. This means the nomination will not be confirmed until the next Era.
Active and earning: This means the validator was chosen, and your nomination actively supports it in this Era.
Your share of staking rewards is based on your staked ROOT relative to the total staked by all participants. This value updates at the end of each Era. This metric is a key input used at the end of the reward cycle to distribute VORTEX rewards.
Your share of Work point rewards compared to total Work points by all participants. This value updates at the end of each Era. This metric is a key input used at the end of the reward cycle to distribute VORTEX rewards. You will only see values here if you are nominating a validator.
Your share of Bootstrap rewards is based on your participation level and staked ROOT. This value updates at the end of each Era.
Our native identity protocol allows users to establish a persistent and secure digital identity that can be used across multiple metaverse applications and experiences.
Our smart wallet enables familiar web2 experiences within open metaverse applications. User-owned on-chain addresses, account abstraction and delegated payments allow users to manage their identity and assets through a single account, rather than having to manage multiple addresses and keys for different assets or applications across experiences.
The identity and smart wallet protocols are encapsulated in the futurepass
pallet on-chain. To start utilizing this feature in your dapp, check out:
The pallet and how it works with the .
The pallet and how it works with the .
What's the difference between ?
For more information, see .
Check out the
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Pallet and .
Pallet and .
What's the difference between ?
Staker
Earn rewards based on ROOT staked by the duration of the reward cycle.
Earn 0.024640657
ROOT per ROOT staked for the reward cycle. This is rewarded in Vortex tokens at the end of the 90-day cycle.
Staked ROOT is locked. You can unstake at any time with a 28-day cool-down period.
Note: Withdrawing before the end of the reward cycle will result in the forfeiture of rewards from that cycle.
Nominator
Earn based on ROOT staked by the duration of the reward cycle.
Earn 0.049281314
ROOT per ROOT staked for the reward cycle. This is rewarded in Vortex tokens at the end of the 90-day cycle.
Also, earn based on work done by validators you nominated, based on commission percentage and amount of Work points accumulated during the reward cycle.
In addition to the notes from above, staked ROOT is exposed to slashing risk from the validators you nominate.
Being a nominator is not set and forget. Nominations should be periodically monitored.
Validator
Earn based on ROOT staked by the duration of the reward cycle.
Earn 0.073921971
ROOT per ROOT staked for the reward cycle. This is rewarded in Vortex tokens at the end of the 90-day cycle.
Earn based on work done as a validator, less commission you pay to nominators for selecting you.
Your staked ROOT is exposed to slashing risks.
Investment and skills required to set up, run and maintain a validator node.
Users can pay gas fees using any approved token or have them covered by developers. The Root Network introduces an innovative any-token economy, streamlining user onboarding and enhancing the gas fee system for both users and validators.
This distinctive approach simplifies user onboarding by allowing users to utilize the native token of an application or enabling developers to manage fees on users' behalf. The Root Network seamlessly converts any configured token into the default gas token, ensuring user flexibility without the need to comprehend the network's intricate economy or engage with exchanges.
Moreover, The Root Network distinguishes the staking token from the gas token, addressing challenges related to high or fluctuating network fees and resolving the issue of inadequate liquidity for incentivizing node operators.
The any-token gas protocol is encapsulated in the feeProxy
pallet on-chain. To start utilizing this feature in your dapp, check out:
The pallet Native API References and how it works with the code examples.
The pallet EVM API References and how it works with the code examples.
What's the difference between Native API and EVM API?
The Root Network XRPL Bridge allows the secure transfer of tokens between The Root Network and the XRP Ledger. It allows two-way transfers of native XRPL tokens.
The XRPL Bridge provides several key functions and benefits:
Secure transfer of tokens: Transferring tokens between The Root Network and the XRP Ledger is seamless and secure. The bridge provides a decentralised and cryptographically secure way to move tokens and assets between the two chains.
Liquidity: Asset bridges unlock more liquidity for the network. Developers, metaverse projects and community members can utilise The Root Network for building while receiving payments in XRP-supported currencies.
Cross-chain functionality: Connecting blockchains means you can combine their strengths. This means non-fungible assets on the XRPL can be bridged to The Root Network to gain additional utility.
An open metaverse: Web3 infrastructure must be open and interoperable with portable assets. Bridges allow for this level of interoperability by connecting chains to create broader ecosystems of diverse utility.
The user sends a deposit request to The Root Network door account on XRP Ledger. This request contains:
The recipient’s Root Network address
The XRPL deposit amount
The XRPL Bridge relayer service picks up the transaction and sends a deposit claim to The Root Network with relevant information.
A challenge period is initiated on The Root Network once the deposit claim is received.
If a challenge is submitted, validators will query the claim and check the transaction’s validity against the XRPL full node. The validators will determine who is correct (the challenger or the transaction requester) and slash the incorrect party. There will be some pay-out portion to the correct party.
Once the challenge period ends, the claim is considered valid. The token is minted and transferred to the intended recipient's address.
The user sends a withdrawal request to the XRPL Bridge module on The Root Network. This request contains:
The recipient address on XRP Ledger
The withdrawn XRPL amount
Validators sign a message stating that The Root Network has burnt the requested token amount. The validators will also issue a withdrawal proof.
The XRPL Bridge relayer service picks up the event and submits the withdrawal claim to the door account.
The door account checks that the signatures are legitimate and releases the tokens to the intended recipient address.
The Root Network supports automated decentralized spot exchanges. It will allow users to:
Trade asset tokens instantly on The Root Network blockchain
Send exchanged tokens directly to a 3rd party account within a single exchange transaction
The exchange will support all asset tokens active on The Root Network. This will include SYLO and ASTO tokens along with any generic assets created by new dapps on the network.
The decentralized exchange protocol is encapsulated in the dex
pallet on-chain. To start utilizing this feature in your dapp, check out:
The pallet Native API References and how it works with the code examples.
The pallet EVM API References.
What's the difference between Native API and EVM API?
The Root Network Ethereum Bridge allows the secure transfer of tokens between The Root Network and Ethereum. It allows two-way transfers of ERC-20 tokens and native $ETH.
The Ethereum Bridge provides several key functions and benefits:
Secure transfer of tokens: Transferring tokens between The Root Network and Ethereum is seamless and secure. The bridge provides a decentralised and cryptographically secure way to move tokens and assets between the two chains.
Liquidity: Asset bridges unlock more liquidity for the network. Developers, metaverse projects and community members can utilise The Root Network for building while receiving payments in Ethereum-supported currency and ROOT.
Cross-chain functionality: Connecting blockchains means you can combine their strengths. This means collections already existing on the Ethereum network can be bridged to The Root Network to gain additional utility.
An open metaverse: Web3 infrastructure must be open and interoperable with portable collectibles. Bridges allow for this level of interoperability by connecting chains to create broader ecosystems of diverse utility.
The Ethereum Bridge uses The Root Network validators, chosen by the network-wide proof-of-stake mechanism. As well as being responsible for creating blocks on The Root Network, validators are now required to verify bridge transactions. They have the authority to act as notaries, verifying the authenticity of a deposit to a bridge contract when needed.
The security of this system is based on threshold cryptography alongside a system of smart contracts. The process looks something like this:
The user sends a deposit request to the Ethereum Bridge contract on Ethereum. This request contains:
The recipient address on The Root Network
The deposit amount
The token address (ERC-20 or native ETH)
The Ethereum Bridge relayer service waits for block confirmations on Ethereum and sends a deposit claim with relevant information to The Root Network.
A challenge period is initiated on The Root Network once the deposit claim is received.
If a challenge is submitted, validators will query the claim and check the transaction’s validity against Ethereum’s full node. The validators will determine who is correct (the challenger or the transaction requester) and slash the incorrect party. There will be some pay-out portion to the correct party.
Once the challenge period ends, the claim is considered valid. The token is minted and transferred to the intended recipient's address.
The user sends a withdrawal request to the Ethereum Bridge module on The Root Network. This request contains:
The recipient address on Ethereum
The withdrawn amount
The token ID
Validators sign a message stating that The Root Network has burnt the requested token amount. The validators will also issue a withdrawal proof for the user.
The user submits the withdrawal proof to the Ethereum Bridge contract on Ethereum.
The Ethereum Bridge contract checks that the signatures are legitimate and then releases the tokens to the intended recipient address.