The Rock Token (RKT) is an ERC20-compliant token that allows holders to gain access to the Gibraltar Blockchain Exchange platform. The project is comprised of two components: a high-quality digital asset marketplace under their governance called “GBX” and a platform for providing a wide variety of financial products and services, including a worldwide listing of utility tokens, and a springboard platform for upcoming projects.
According to the project´s whitepaper: “The ERC-20 token standard prescribes the functions that a token on the Ethereum blockchain should incorporate to enable the issuance, distribution, and control of tokens in a standardised manner. It is a set of guidelines that a token issue contract should adhere to in order to be compatible with most wallet software. The Rock Token contract will adhere to the ERC-20 token standard by declaring six standardised function names and two standardised event handles. This standardisation makes it easy for decentralised application developers to utilize Rock Token in the future and ensure maximum exposure and adoption.”
GBX´s main goal is to become the world´s first digital asset marketplace operated by a European Union-regulated stock exchange, and to become the first regulated token sale platform. According to the project´s whitepaper, GBX hopes to obtain a license from the Gibraltar Financial Services Commission, under the recently enforced “Financial Services (Distributed Ledger Technology Providers)” regulations, and will use a sponsor and rules-based system.
The GBX project had a very successful ICO, managing to raise their goal of $27 million in just one day. The maximum supply of tokens for the project will be 900 Million, of which 210 million were sold at $0.1 during the pre-sale, which represented 35.4% of the total RKT available.
GBX has already prepared a wide array of documents explaining the rules on how to access different aspects of the platform as a sponsor, as a company interested in promoting their project through GBX, or as a user interested in accessing the digital asset exchange. Residents of China, Japan, Korea, and the USA were not allowed to participate in the ICO for regulatory compliance.
Rock Tokens can be held using any ERC-20 compatible wallet such as MyEtherWallet, and can be obtained in exchanges such as Quoine, Qryptos, ForkDelta, and Idex.
The GBX team required users to go through a “whitelisting” process in order to access the presale and ICO. This process also served as a “pre-registration” stage for the GBX platform. Users who went through the whitelisting will not need to do so again if they want to open an account in GBX. The platform is also designed to allow RKT holders (or “Rockers”) to vote on community developments and to receive RKT token incentives for making positive contributions. Some of the initiatives submitted to voting are expected to be derived from a forum of “industry and academic experts” called the “GBX Alliance”.