What is ROME (ROME)?

Quick Facts

  • Blockchain: Waves
  • Type: Overcollateralized stablecoin
  • Peg: 1 USD
  • Issuer: Puzzle Network
  • Minting platform: Puzzle Lend
  • Collateral type: Puzzle Swap megapool LP tokens
  • Borrowing fee: 5% APY, compounded every block

Introduction

ROME is an overcollateralized stablecoin built by Puzzle Network on the Waves blockchain. Its goal is to maintain a stable value of approximately 1 USD, drawing inspiration from established models like DAI. ROME is deeply integrated into the Puzzle ecosystem, relying on the lending and liquidity infrastructure already in place.

History & Background

ROME was created by the team behind Puzzle Swap, a leading decentralized exchange on the Waves blockchain. Puzzle Swap pioneered the concept of megapools — multi-asset liquidity pools — and the Puzzle Lend platform extended this infrastructure into lending. ROME emerged as a natural evolution: a native stablecoin backed by the LP tokens generated from these megapools.

How ROME Works

ROME is minted exclusively through the Puzzle Lend platform. Users deposit approved LP tokens — representing shares in Puzzle Swap or WX.network megapools — as collateral and borrow ROME against them. Because more value is always held in collateral than ROME minted, the system remains overcollateralized at all times.

A fixed borrowing fee of 5% APY (compounded approximately every minute) is charged to minters. This fee is the only mechanism that brings new ROME into circulation, creating a controlled and organic issuance model.

Tokenomics

ROME enters circulation solely through the borrowing mechanism on Puzzle Lend. There is no pre-mine or inflationary emission schedule. The collateral backing consists of diversified LP positions, which inherently spread risk across multiple assets. Minters retain a portion of LP rewards while paying the annual fee, aligning incentives between collateral providers and the stability of the peg.

Circulating supply ? 415,016 ROME
Total supply ? 415,016 ROME
Max supply ? -- ROME
Updated 13h ago

Ecosystem & Use Cases

ROME is designed to function as a stable unit of account and medium of exchange within the Waves DeFi ecosystem. It can be traded on decentralized exchanges such as WX.network and Puzzle Swap itself. By using LP tokens as collateral, the protocol allows liquidity providers to unlock capital without exiting their positions — a key DeFi composability feature.

Team, Governance & Community

ROME is developed and maintained by the Puzzle Network team, the same group responsible for Puzzle Swap and Puzzle Lend. The project is community-oriented and operates within the broader Puzzle ecosystem. Updates and announcements are shared via the Puzzle Network Medium blog and social channels.

Advantages

  • Capital efficiency: LP token holders can access liquidity without selling their positions.
  • Overcollateralization: More collateral than minted ROME ensures robust peg stability.
  • Ecosystem integration: Natively built on Puzzle Lend and Puzzle Swap megapools.
  • Predictable costs: A fixed 5% APY borrowing rate gives minters clear cost visibility.

Risks & Challenges

  • Collateral volatility: LP token values can fluctuate, potentially triggering liquidations.
  • Ecosystem dependency: ROME's stability is closely tied to the health of Puzzle Swap and Waves DeFi.
  • Limited adoption: Operating within a single blockchain ecosystem restricts broader usage.
  • Smart contract risk: As with all DeFi protocols, bugs or exploits remain a structural concern.

Long-Term Vision

ROME aims to become the primary native stablecoin of the Waves DeFi ecosystem. By anchoring its design to LP-backed collateral, it seeks to create sustainable, organic yield without relying on inflationary incentives. As the Puzzle ecosystem grows in total value locked and user base, ROME's role as a stable, composable asset within Waves DeFi is expected to deepen.

Frequently Asked Questions

ROME is an overcollateralized stablecoin developed by Puzzle Network on the Waves blockchain, pegged to 1 USD. It is minted through Puzzle Lend using LP tokens as collateral.

ROME is minted exclusively on the Puzzle Lend platform by depositing approved liquidity provider (LP) tokens as collateral. Users then borrow ROME against that collateral.

ROME's peg is maintained through overcollateralization, meaning the value of collateral always exceeds the amount of ROME in circulation. This ensures there is always more backing than outstanding supply.

Accepted collateral consists of LP tokens from Puzzle Swap megapools and WX.network pools. These represent diversified liquidity positions across multiple assets.

Minters pay a fixed annual borrowing fee of 5% APY, compounded approximately every block (roughly every minute). This equates to about 0.013% daily.

Yes. When minting ROME with LP tokens, minters retain a portion of the LP rewards generated by those tokens. This makes borrowing ROME potentially cost-efficient for active liquidity providers.

ROME can be traded on decentralized exchanges within the Waves ecosystem, including WX.network and Puzzle Swap.

ROME was built by the Puzzle Network team, the developers behind Puzzle Swap and Puzzle Lend, which are leading DeFi products on the Waves blockchain.