Ruby Protocol, intent-centric, interoperable, and privacy-preserving infrastructure for Web3 future has reached a significant milestone following a successful fundraising round in 2023, securing $7.3 million in funds. With a strong financial foundation and commitment to innovation, Ruby Protocol has navigated the challenges of the past crypto cycle and also actively contributed to the evolution of the decentralized landscape in the last few years. Ruby Protocol is dedicated to staying at the forefront of technological advancements and addressing the evolving needs of the blockchain ecosystem.
The culmination of these efforts is the upcoming launch of Ruby Protocol's native token. This new development signifies Ruby Protocol's commitment to providing innovative solutions in the blockchain space. Ruby Protocol's whitelisting campaign has garnered an overwhelming response, with nearly two hundred thousand requests received. To accommodate the demand and provide an opportunity for the community to participate, Ruby Protocol has scheduled the $RUBY token's Whitelist event on January 25th, UTC time, from 1 AM to 5 AM. During this period, 3% of the total $RUBY supply, equivalent to 30,000,000 RUBY, will be made available.
Furthermore, the $RUBY Early Bird Round, Round 2, is set to take place from 5 AM to 1 PM on January 25th, with the subsequent LBP Round, Round 3, launching on Fjord Foundry from UTC time 1 PM, January 25th, to 1 PM, January 28th. The team believes that utilizing the Liquidity Bootstrapping Pool will facilitate the fair and transparent distribution of tokens to communities, mitigate volatility, and enable genuine price discovery.
Building an Innovative Application With LayerZero
Previously, Ruby Protocol directed its efforts towards the ABC solution, which the team believes is a multifaceted approach that can redefine how users think of crypto applications.
The concept of Account Abstraction primarily refers to Ruby One, a crypto PMC wallet designed to support Web2 account login and enable social recovery. Additionally, Ruby Protocol's Assets Bridge facilitates the secure and confidential transfer of assets across diverse blockchain networks, ensuring the protection of users' transaction data. Internally, the team believes this approach as the most private means of conducting crypto transactions while upholding the principle of user privacy. All these elements are seamlessly integrated into the Ruby SDK, inviting the community to collaborate with them. The team understand that the next-generation application will likely be accessible, cross-chain, and intent-centric, which explains why Ruby Protocol is now fully integrated with LayerZero.
LayerZero, with its focus on scalability, interoperability, and user experience, emerges as the ideal partner for Ruby Protocol's ambition. The integration promises heightened connectivity, interoperability, and a substantial reduction in liquidity and user experience fragmentation.
Speaking on this, Taylor Zhang, the Operation Director of Ruby Protocol, stated that:
“As a community, we must ask ourselves what the future Web3 must do to establish footholds in the future technical landscape and people’s everyday lives. People often hail blockchain, crypto, and web3 as the building blocks of our future technology and the saviors of individualism in the age of AI and massive automation. We must not forget that the current infrastructure is lopsided toward trading and speculation, and the user experience is suboptimal for mass adoption.
Now, with a solid infrastructure and an ample supply of cheap and secure blockspace, it is about time we partner up and build some intent-centric applications.”
What the Future Holds for Ruby Protocol
With some strong partnerships and noteworthy tech updates, Ruby Protocol will soon launch its token on the market, followed by exchange listings to allow users to participate.
The upcoming $RUBY launch marks the beginning of an open narrative where we see if Ruby Protocol's intent-centric design and dApps can capture the market attention.
About Ruby Protocol
Ruby Protocol is an Intent-Centric Account & Access Layer for Web3.
We are building an intent-centric, interoperable, and privacy-preserving infrastructure for Web3 future. Our services, including Account Abstraction (AA), Assets Bridge (AB), Access Control (AC) and much more, are designed to accelerate Web3 development and its mass adoption.
We aim to make Web3 seamless and effortless to everyone everywhere.
Website: ruby.xyz
Twitter: https://twitter.com/RubyProtocol
Discord: https://discord.com/invite/RubyProtocol
Telegram: https://t.me/rubyprotocol
Achievements: https://t.me/ruby_announcement/192