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Root Protocol

Root Protocol

Root Protocol is a decentralized platform designed to simplify and unify access to applications by integrating digital identities, virtual accounts, and social graphs. It aims to streamline user interactions, asset management, and value exchange across decentralized protocols and chains. [1]

Overview

Root Protocol is a framework designed to unify access to by integrating digital identities, virtual accounts, and social graphs. It serves as a centralized identity framework across applications, simplifying interactions, asset management, and value exchange. Aggregating protocols and chains enable streamlined interactions, offering unified views across platforms, automated transactions, and portable decentralized identities (Root DIDs). Root OS enhances accessibility by introducing familiar onboarding methods like email and social logins and providing an integrated interface for interacting with decentralized applications. With open and transparent data, Root Protocol empowers users with greater control over their digital activities and data. [2]

Products

Root Wallet

The Root Wallet is a mobile-first client for Root Protocol, designed to simplify access and asset management. It supports login methods, including traditional private keys or Web2 social accounts like Google, Twitter, and Telegram, utilizing threshold cryptography for secure key management and social recovery. Available as both a mobile app and browser extension, it streamlines interactions with applications and protocols. Its interface offers two modes: an aggregated protocol view for a seamless user experience, automatically selecting the best protocol for transactions, and an advanced mode for direct interaction with cross-chain asset management. Features include the integration of Web2 and social graphs and AI-driven intent recognition to create smart operations, enhancing usability. [2] [3]

Root Account

The Root Account is a unique identifier within the Root Protocol, allowing users to claim personalized, domain-like names, such as “Alice.root.” Each account is linked to Abstract Contracts ( Smart Wallets) with consistent addresses across multiple chains. This setup lets users maintain uniform addresses and permissions across chains, streamlining interactions and account management within the protocol. [2] [3] [4]

Root Chain

Root Chain is a compatible with the and integrates the Root Abstract Account. It focuses on authenticating the workload of the Protocol Indexer and Operation Executors while incorporating incentivization mechanisms to motivate the network. [2] [3]

Root SDK

The Root Network SDK supports seamless integration with Root Network, enabling developers to build on an intent-centric system combining digital identities, virtual accounts, and social graphs for unified access. It simplifies the creation of self-sovereign digital identities, facilitates virtual account management for multi- interactions, and offers tools for building with customizable social connections and data models. The SDK provides direct access to the Root Network's aggregated operating system, promoting interoperability, scalability, and enhanced user experiences for applications. [2] [3] [5]

Root Omni Protocol

Root Omni Protocol is a key component of the Root Protocol, offering a unified interface for various protocols. It combines features like Root , Root Lending, and Root Graph, allowing users to swap assets, optimize lending profits, and access aggregated social data without navigating multiple protocols. [2] [3]

ISME

$ISME tokens are native to Root Protocol, designed to provide access to various products and services within the ecosystem. The uses of $ISME tokens are dynamic. They will expand as Root Protocol develops, with current utilities including governance voting, paying transaction and service fees, for network security and rewards, and rewarding users for ecosystem contributions. [6]

Tokenomics

ISME has a total supply of 1B tokens and has the following allocation: [2]

Operational Reserve: 15%

Community & Ecosystem: 15%

Team: 15%

Vault: 15%

Liquidity Bootstrapping Pool: 10%

Strategic Round: 10%

Private Round I: 9%

Angel Round: 6%

Private Round II: 4%

Community Presale: 1%

Funding

On January 19, 2024, Root Protocol announced it had closed $10 million in funding across two seed rounds, valuing the project at $100 million. The funding rounds were led by and participated in by strategic investors, including Shima Capital, DFG Group, Signum Capital, , Digital Strategies, CMS Holdings, Double Peak, GenBlock Capital, and Cypher Capital. Newly announced investors included Dao5 and Gate Labs Ventures. [7]

Partnerships

Mint

KaratDAO

Tilted

INTO

Digitalabs AI

FairFun

Novastro

Anome

WePunks

TONsale

Openpad

aZen Protocol

OEG DAO

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Edited By

Generated avatar for Anonymous userJSD

Edited On

November 26, 2024

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REFERENCES

[1]

Root Protocol

Nov 26, 2024

[2]

Root Protocol Whitepaper

Nov 26, 2024

[3]

Products | Root Protocol

Nov 26, 2024

[4]

Root Account

Nov 26, 2024

[5]

Introducing Root Network SDK | Medium

Nov 26, 2024

[6]

Launching ISME Staking | Medium

Nov 26, 2024

[7]

Root Protocol Raised $10M in Two Seed Rounds | Medium

Nov 26, 2024