RocketFi is a decentralized finance (DeFi) project operating on the BNB Smart Chain (BEP20) that provides a suite of Web3 tools centered around a multi-faceted rewards ecosystem. The project enables users to earn rewards in various cryptocurrencies through holding, sending, swapping, and burning its native token. ^{[1] [2]}

Overview

RocketFi was launched in 2022 with the stated mission of creating user-friendly and innovative tools for the DeFi community. The project is built on the Binance Smart Chain and aims to provide users with multiple avenues for generating passive income and diversifying their crypto holdings without the complexities often associated with traditional yield farming or staking protocols. The core of the ecosystem is the ROCKETFI token, which serves as the key to accessing the platform's various reward mechanisms. ^[3]

The platform's model is designed to offer frictionless yield opportunities. Instead of requiring users to lock their assets in staking contracts, RocketFi's primary reward system functions through reflections, where a portion of transaction taxes is distributed to holders. The project distinguishes itself by allowing users to customize these rewards, choosing from a wide selection of other tokens on the BNB Chain. This is supplemented by additional gamified systems, such as reward pools for burning or swapping tokens, and a loyalty program. The project's development is managed by a team with backgrounds in engineering, cybersecurity, and creative direction. ^{[4] [1]}

History

RocketFi was launched in 2022. ^[3] The project was founded by an anonymous team, who are publicly known only by partial names and pseudonyms. ^[1] Key developments since its launch include the release of its decentralized application (dApp) and the introduction of its SMART Rewards system. ^[2]

Products and Key Features

RocketFi's ecosystem is composed of several interconnected products and features designed to generate rewards for users. ^[4]

Reward Packs (Smart Rewards)

The central feature of the RocketFi platform is its "Smart Rewards" system, delivered through what it calls Reward Packs. This mechanism allows holders of the ROCKETFI token to receive reflections from transaction taxes. A key differentiator is the ability for users to customize these rewards. Through the project's dApp, users can select up to 10 different cryptocurrencies to receive as rewards from a list of over 200 options, including Binance-pegged blue-chip assets and other native BSC tokens. This feature enables portfolio diversification directly from holding a single asset, without needing to stake or lock the tokens. ^{[1] [5]}

Smart Codes

Smart Codes are a utility feature designed to simplify crypto transactions and create additional reward opportunities. These codes are attached to a user's wallet and can be used for several purposes:

• Sending Crypto: Facilitates easier peer-to-peer transfers within the dApp.
• Referral Rewards: Users can earn rewards when others use their Smart Code for transactions.
• Swap Discounts: The codes can provide discounts on swap fees.
• Loyalty Points: Interacting with Smart Codes contributes to a user's loyalty points within the ecosystem. ^[6]

Play Pools

Play Pools are gamified, decentralized reward pools that offer users a chance to earn rewards for performing specific actions.

• Burn Play: When users burn their ROCKETFI tokens, they are entered into a pool where a random participant receives an immediate reward.
• Swap Play: When using the platform's swap feature, users can pay a small additional fee to enter a reward pool, with a chance to win a portion of the collected fees. ^[7]

Rocket Fuel

Rocket Fuel functions as a loyalty program. Users accumulate these points, which are tracked on the blockchain, by burning ROCKETFI tokens. These points can then be redeemed for rewards in the form of more ROCKETFI tokens, creating an incentive for users to contribute to the token's deflationary mechanism. ^{[1] [8]}

Technology

RocketFi's architecture is built on the BNB Smart Chain and is accessed primarily through its proprietary decentralized application.

RADAR Hub dApp

The RADAR Hub is the central decentralized application (dApp) that serves as the user interface for the entire RocketFi ecosystem. It allows users to connect their Web3 wallets to manage their holdings, customize their Reward Packs, create and use Smart Codes, and interact with the various Play Pools. The dApp is designed to be the single point of access for all of RocketFi's tools and utilities. Users must agree to a disclaimer acknowledging they use the application at their own risk before proceeding. ^[9]

FloatieSwap

FloatieSwap is the project's planned cross-DEX aggregator. According to the project's documentation, it is designed to pull price and liquidity data from multiple decentralized exchanges on the BNB Chain to find the most efficient trading route for users, optimizing for both price and gas fees. This feature is intended to be integrated with the Smart Code system to provide additional rewards and discounts. ^[1]

Security

The project employs a multi-layered security approach to protect its platform and users. Its smart contract has been audited by third-party firm DessertSwap. Other security measures cited by the project include:

• Self-Custodial Wallets: Users retain control of their private keys and funds.
• Encryption: Protection of personal data and transaction information.
• Cold Storage: A portion of assets is held in offline cold storage to mitigate risks from online threats.
• Access Control: Internal management plans and access control systems are in place to protect critical infrastructure.
• Hardware Wallet Support: The platform supports integration with hardware wallets for an added layer of security. ^{[2] [1]}

Use Cases

The RocketFi ecosystem offers several methods for users to earn rewards.

• Hold and Earn: By holding ROCKETFI tokens in a personal wallet, users automatically accumulate rewards based on the platform's transaction taxes. No staking is required.
• Send and Earn: Using the SmartCode feature to send crypto through the dApp can trigger rewards from the "PayBoost" pool, functioning as a form of crypto cashback.
• Swap and Earn: Interacting with the SwapPlay feature provides a chance to win rewards from a decentralized pool.
• Burn and Earn: Burning ROCKETFI tokens makes users eligible for random rewards from the BurnPlay pool and also accumulates RocketFuel loyalty points. ^[4]

Additional Programs

UltraBlue Tokens

RocketFi Labs is also the creator of the UltraBlue suite of tokens. This is a separate but related product line designed to facilitate asset conversion and generate auto-yielding rewards. The suite includes tokens pegged to major cryptocurrencies, such as UltraXRP, UltraBNB, UltraBTC, and UltraETH, among others. These tokens are designed to be used within the RocketFi ecosystem, allowing users to convert assets and unlock different reward streams. ^{[10] [11]}

Tokenomics

The native utility token of the RocketFi ecosystem is ROCKETFI, a BEP20 token on the BNB Smart Chain.

• Supply: The token was launched with a maximum supply of 1 trillion (1,000,000,000,000) ROCKETFI. The project implements a burn mechanism on transactions, which it describes as hyper-deflationary, to reduce the total supply over time. ^[2]
• Transaction Taxes: The smart contract imposes a variable tax on transactions, which funds the rewards system. The tax rates are stated as:
  • Buy Tax: 7%
  • Sell Tax: 14%
  • Transfer Tax: 1%
• Reward Distribution: According to the project, 96.25% of the collected transaction taxes are allocated to the reward pools for distribution to holders. ^[1]
• Utility: The primary utility of the ROCKETFI token is to grant holders access to the platform's reward mechanisms, including customizable Reward Packs, Play Pools, and the Rocket Fuel loyalty system. ^[12]

Team

The RocketFi team is publicly listed with partial names and roles. The core team includes:

• Rudy G. ($horty) - Co-Founder & Full Stack Developer
• Erick L. (Vick) - Co-Founder & Creative Director
• John S. (Jawn Doe) - Co-Partner & Full Stack Developer
• Joey P. - Co-Partner & Mobile Developer
• Adam B. (FightinSquirrel) - Co-Partner, Partnerships & Community
• Ryan D. - Co-Partner, Listings & Community Technologies
• Will (DeFiBeast) - Core, Liquidity Technology & Quality Assurance ^[1]