Ruby.Exchange is the foremost AMM on SKALE V2, a zero-gas, high-throughput multichain solution for Ethereum. Ruby delivers a gamified user experience for traders and liquidity providers by integrating NFTs: Generative gemstones that embody financial and practical utility as well as artistic value. Ruby’s gemstones are designed to offer real financial utility and valuable perks to different categories of exchange users. For these first NFTs, rewards ultimately derive from the commission fees Ruby’s AMMs charge to traders, and the way these are allocated to different stakeholders.
Building on SKALE, an emerging and exciting multichain solution for Ethereum, allows Ruby.Exchange to create a completely new kind of user experience that addresses all of these concerns. Key functionality includes:
- Feature-rich, gamified UX powered by gemstone NFTs—beautiful, generative artworks that will drive loyalty by embodying real utility as well as artistic value. NFTs will be minted for user profiles; as reward vouchers for trading fee rebates and liquidity provider APY boosts; for unlocking premium features such as native charting and advanced analytics; and as affiliate links, copy-trading identifiers, and other social sharing signifiers.
- Zero gas fees, throughput of up to 2,000 tx/second, and built-in threshold encryption for front-running protection, thanks to SKALE’s Elastic Sidechain architecture.
- Frictionless bridging. SKALE’s IMA Bridge provides a fast, secure, and fully decentralized on/off-ramp between Ruby’s SKALE chain and Ethereum L1, with cross-chain transactions taking just 18 seconds.
The RUBY token will combine the attributes of a governance token with additional utility that will benefit everyone within the Ruby.Exchange ecosystem. NFT raffles, staking of LP rewards, and burning a portion of trading fees and raffle entry fees will play a pivotal role in offsetting the impact of new supply in the form of farming rewards. Alongside Ruby’s other advantages such as zero gas fees, a fast bridge, NFT-powered rewards, and a feature-rich UX, we expect these attractive tokenomics to appeal to a wide cross-section of the DeFi community.
Ruby.Exchange has announced the completion of the Seed and Strategic funding rounds, which raised a total of $2.8 million. The backers include some of the biggest and best-respected names in the space, including NGC, Flow Ventures, Wintermute, the SKALE Ecosystem Fund, Morningstar Ventures, Yield Ventures, HashKey, CitizenX, and ZBS Capital, as well as a number of significant angels.
Along with the upcoming $1 million public sale, this funding will enable Ruby to develop, market, maintain, and ultimately fully decentralize the first ever NFT-powered AMM. Built on SKALE, a powerful multichain solution for Ethereum, Ruby.Exchange is designed from the ground up to solve a series of critical problems for DeFi, employing a combination of cutting-edge technologies and a new tokenomic model to deliver a fun, accessible, and gamified trading experience.
Ruby.Exchange Investment Rounds
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