RockStable is a United States-based digital asset company developing IRMA, an inflation-resistant stablecoin designed for the Solana ecosystem. IRMA stands for Inflation Resistant Medium of Account. Rather than maintaining a permanently fixed $1 redemption promise, the proposed token separates its inflation-linked mint price from a reserve-based redemption price. RockStable presents the model as a way to preserve purchasing power while reducing reliance on the price volatility associated with assets such as Bitcoin and gold. As of August 2026, IRMA remains in development, with an alpha release, reserve dashboard, and decentralized exchange trading described as forthcoming.
History and Background
RockStable was founded by Carlos Tapang, who serves as chief executive officer. The company initially focused on ROKS, a USDC-backed payment token and wallet developed for cross-border transfers and remittances. RockStable said it launched ROKS in 2022 before shifting its main product focus toward IRMA. This progression reflects a move from payment-oriented stablecoin infrastructure to a broader monetary design intended to address the declining purchasing power of fiat currency.
The company is privately held and maintains operations in Bellevue, Washington. RockStable's website identifies Washington money transmitter license 550-MT-142136. The company also appeared on the Washington State Department of Financial Institutions' September 2025 virtual-currency licensee list under NMLS ID 2249307. That listing establishes a documented regulatory footprint, although users should verify the current scope and status of any license before relying on it.
How the IRMA Stablecoin Works
IRMA is designed as a reserve-backed stablecoin whose mint price responds to inflation. RockStable's published model states that IRMA should behave similarly to a dollar stablecoin while measured inflation remains at or below 2%. When inflation exceeds that level, the mint price is intended to rise proportionally, increasing the amount of reserve assets contributed for each newly issued token.
The planned reserve basket includes USDT, USDC, PYUSD, USDS, USDG, and FDUSD on Solana. Each reserve asset would be tracked separately rather than treated as an undifferentiated pool. IRMA's redemption price is calculated by dividing the total value of reserve stablecoins by the amount of IRMA in circulation. When buyers mint at a price above the prevailing redemption value, the additional backing remains in reserve. RockStable expects this mechanism to allow the redemption price to move gradually toward the inflation-adjusted mint price as reserves grow.
Solana and DEX Architecture
RockStable is developing IRMA through public smart-contract repositories written primarily in Rust for integration with the Anchor framework. The implementation is intended to use Solana for settlement and Meteora's Dynamic Liquidity Market Maker for decentralized trading. RockStable's technical materials also describe oracle inputs for inflation and market data, reserve vaults for individual backing assets, and automated pricing logic.
The company does not position IRMA as an interest-bearing product. Its proposed value proposition is purchasing-power preservation rather than yield generation. Potential uses include long-term savings, treasury management, payments, and liquidity provision, but these applications depend on mainnet deployment, exchange liquidity, wallet support, and reliable access to the reserve stablecoins.
Risks and Considerations
IRMA remains an early-stage product, and several elements described by RockStable were not publicly operational as of August 2026. The project had not yet published a live reserve dashboard or established broad public trading. No named independent smart-contract audit report was identified in the company's public materials.
The reserve design also introduces exposure to stablecoin depegging, issuer freezes, smart-contract vulnerabilities, oracle failures, and decentralized exchange liquidity. Because the mint and redemption prices can differ, IRMA may trade at a discount or premium between those values. Growth in the redemption price depends on reserves increasing faster than circulating supply, which may require continued minting demand or other inflows. RockStable acknowledges that, during extreme inflation, the redemption price might not fully catch up with the mint price. The mechanism is designed to reduce fixed-par redemption pressure, but it cannot eliminate market, liquidity, counterparty, or regulatory risk.
