AMA with Rubic
On the 6th of January, 2022 at 17:00 UTC, Decentralized Club had the honor of hosting Collin O'Brien (Marketing Manager) from Rubic for an Ask-Me-Anything session on their Telegram page with a community of over 70,000 people. It was hosted by DC Admin, May.
The session was divided into three segments. Introductions were made in Segment 1, questions from the Twitter community were answered in Segment 2, and live questions from the community members in attendance were answered in Segment 3.
If you missed this event and would like to know what Rubic is all about, you can find a recap of the interview here. Information here should be researched and should not be taken as investment or financial advice. Also note that slight edits have been made for clarity, and links in this recap lead to images, documents, or other media.
Segment 1 - Introduction
Hello, 大家好, नमस्ते, Selamat!
My name is May and I'll be hosting the AMA with Rubic.
Today, we have with us a guest from the Rubic Team.
You're welcome to the Decentralized Club and it's an honor to have you here.
Thank you very much! I'm glad to be here.
I have an amazing project to share with your community today.
We can't wait to hear all about it!
Very well. It's just getting started actually. I'm located in California, so it's 9AM my time.
Before we get started, could you please introduce yourself to our community and your role at Rubic?
My name is Collin O'Brien. I'm a Marketing Manager for Rubic. I've been involved in the crypto industry since 2016.
My role at Rubic is to work on marketing our protocol as well as interacting with our community to act as a liaison between our team members and our community and investors.
I handle public relations, marketing agreements, and negotiations, AMAs, document curation and editing, etc.
This is a great position!
Yes, it is. I'm very happy to be involved in this project.
Excellent, take it away!
That's amazing! 🥳
Can you tell us about Rubic and the inspiration that got it started?
Our founders Vladimir Tikhomirov and Alexandra Korneva realized that the industry was going to be facing a multi-chain problem in the future and that someone needed to simplify the process of moving assets and moving value across and between different blockchain networks. This is the problem that sparked them to create the idea for Rubic.
We can see with the rise of additional Layer 1 and Layer 2 network solutions, that the future of the industry is going to be multi-chain. They were very prescient in their observations of the future of the industry. And now, 16 months after launching Rubic, we have the most advanced multi-chain swap solution on the market with the Rubic protocol.
Awesome! Great work in less than two years!
What innovative solution is Rubic bringing in DeFi?
The DeFi industry is rapidly evolving into a multi-chain industry. There will be no one clear industry-leading blockchain network in the coming years. Some blockchains will specialize in certain features and abilities, while others will become and remain popular based on geographic location. As a result, there needs to be an easy solution for users to be able to transfer assets and value across multiple blockchain networks. This is the solution that Rubic is bringing to DeFi. A simple and easy-to-use protocol that enables the transfer of value and the swapping of thousands of assets across numerous blockchain networks, seamlessly, effortlessly, and cost-effectively.
The introduction of our SDK will enable more projects, wallets, apps, and platforms to natively integrate our trading protocol and bring widespread adoption of our protocol to the DeFi industry.
A few seconds for the community to read.
Can you tell us about Rubic’s Multi-Chain feature? What are the benefits?
Rubic's Multi-Chain Swap Protocol enables users to effortlessly swap between 8 different blockchain networks. The number of blockchain networks will continue to grow as we integrate additional networks throughout 2022 and beyond!
The benefits of utilizing Rubic's Multi-Chain Swap Protocol are plentiful. Currently, the process of transferring assets across blockchain networks is a difficult, confusing, and arduous task. It requires planning (which DEXs and bridges you will use), multiple transactions that incur network and platform fees, and one of the most precious things in this industry and the world at large - time.
Using Rubic's Multi-Chain features, you will be able to skip all of that nonsense. You can swap from one blockchain to another in only minutes, while being sure you are receiving the best swap value for your trade due to Rubic's Smart Routing process that finds the most optimal route for your multi-chain trades, taking into consideration gas fees and platform fees. Rubic does all the complicated stuff behind the scenes so that users can focus on their assets, not the convoluted multi-chain swapping process that Rubic solves.
I love this already! Thank you for the ease Rubic gives its users.
Does Rubic offer staking opportunities?
Yes. Currently, we are offering our first round of staking. Unfortunately, it is closed at this point. The current APY is roughly 80%, and we enabled up to 7 Million RBC to be staked.
We are working on our next version of staking, Rubic Staking 2.0, which will enable users to populate our Multi-Chain Liquidity Pools with their own funds to help facilitate multi-chain swaps. This next step in staking will help expand our multi-chain abilities and increase the single-transaction-volume amount past its current limit of $50,000.
We have whales contacting us about being able to swap 6 and 7 figures worth of crypto in a single transaction, and we hope to be able to provide that ability to them in 2022 when we launch and expand our Rubic Staking 2.0 for our Multi-Chain Liquidity Pools.
We'll have more information on it soon, but we hope to launch Rubic Staking 2.0 in February 2022. While it is subject to change, we're making it a priority to accomplish the feature in Q1 2022.
We hope for the best with this project!
What were the main Rubic’s news of the year?
What were the highlights from last year and what should we look forward to?
Well, we had a number of very noteworthy developments this year.
It's tough to pick one single thing.
We finished our year strong with the integration of 4 additional blockchain networks in Q4 2021: Moonriver, Fantom, Solana, and Harmony. (We're going to try and keep the pace and add an additional 3 to 6 new blockchain networks between Q1 and Q2 of 2022)
We created our Rubic Relay Widget to great success and reception from our partners and users. This led to the creation of our Rubic SDK, which is a software development kit that will enable other projects, websites, wallets, platforms, and apps to natively integrate all the trading features that Rubic offers. We released our Alpha version of the SDK, which is completely 100% free, and we're excited to get feedback from our initial adopters. Our SDK could lead to industry-wide use of Rubic by enabling other projects to natively integrate our multi-chain trading features while utilizing their own user interfaces.
We have an ambitious goal to merge DeFi and enable more users to join in this burgeoning new ecosystem and financial system. We demonstrated in 2021 that we are capable of realizing this goal, and 2022 will be about solidifying our place in the industry and bringing in many more users to our protocol so that we can come closer to achieving our ultimate goal, to become the preeminent name in DeFi trading and become a global brand name.
This is all great news!
We're here for all of it 🥳
Let's now take some questions from our Twitter community
Segment 2 - Twitter Questions
Is Rubic a regional or global project? Can anyone from anywhere in the world use your services? Is there anything that prevents me from using your services?
Twitter Username: @selvachirpiga
Rubic is a global project, not just for our users, but our team is international as well.
Our headquarters are based out of Saint Petersburg, Russia, where a majority of our staff works.
We have additional team members located throughout Europe and the United States as well.
Anyone in the world can use Rubic. No restrictions.
We currently have no territory restrictions, as we utilize and aggregate other crypto project services from around the globe.
Certain laws in some countries could curtail the use of our website, but that wouldn't be relegated to Rubic, it would be for crypto as a whole in whatever nation decided to curtail crypto trading.
Currently, Rubic operates in every country in the world, and we have a truly global userbase based on our metrics. We have tens of thousands of users all over the world.
DeFi, Staking, and Agricultural Products are hot topics right now in our Crypto Space. Did you create this project for the short term only because of this hot topic? Do you have long-term plans for this project?
Twitter Username: @CacaAndika151
No, this project was not born from a short-term mindset.
The concept for this project was created in the Summer of 2020 when DeFi really started to emerge and it appeared as though the industry was heading in the direction of being multi-chain. The decision was made by both Vladimir Tikhomirov and Alexandra Korneva to create a protocol that would facilitate DeFi trading by offering users multiple price options through a process we call "Smart Routing", while also being able to do this across and between blockchain networks.
The long-term plans of Rubic are to establish an industry-standard trading protocol to enable easy-to-use, seamless, and cost-efficient DeFi trading both on-chain for dozens of blockchain networks, as well as multi-chain trading between dozens of blockchain networks. We intend to become a global brand and a household name in the crypto industry. Through the continued development of our protocol and the integration of more DEXs, more blockchain networks, and more bridges, we will achieve this goal.
Anyone who uses our SDK and integrates our protocol can do so free of charge. It's 100% free to use.
There are no additional fees on top of the SDK that would be incurred for either the user or the project using our SDK. They will remain independent, and can even Whitelabel our SDK so that no Rubic branding shows in their user interface. This is beneficial for larger projects who want to seamlessly integrate our Multi-Chain Swap Protocol directly into their platform without worrying about branding or marketing issues.
Our protocol utilizes numerous DEXs and bridges, and beyond the native fees of those platforms, and the standard native fee from Rubic for utilizing our protocol, there are no additional fees.
We hope our SDK becomes widely used across the industry, as it will enable more people to migrate to different networks and experience new projects without the current hassles that are required to do so.
In Q1-Q2 2022 #Rubic will launch RBC Staking 2.0. So what advantages does it have compared to the previous version of RBC Staking and what are the benefits that users receive when Staking RBC?
Twitter Username: @Jenykim1111
Rubic Staking 2.0 will allow users to participate in our Multi-Chain Liquidity Pools.
This means that users will be able to provide USDC (and potentially other stablecoins) to our liquidity pools across multiple blockchain networks.
Doing so will help facilitate more trade volume through our protocol, but it will also enable those contributors to receive a % of the fees generated from multi-chain swaps.
The current version of our staking only enables the ability to stake RBC into locked liquidity pools and the staking amount was limited to 7 Million RBC.
Rubic Staking 2.0 will not have a staking limit amount, and will not be fully locked. Users will be able to add funds whenever they want to participate in receiving a % of our multi-chain swap fees.
You have announced that Rubic’s team has completed your creation of the SDK version of Rubic. How does Rubic’s SDK help towards mass adoption of your ecosystem? How does this SDK work and How will it help Rubic and also us (users)?
Twitter Username: @JohnSno55
Rubic's SDK will help bring the protocol towards mass adoption by giving everyone the ability to easily integrate all of Rubic's trading features - On-Chain & Multi-Chain Swaps and Smart Routing.
The SDK works by giving developers the ability to easily (essentially copy+paste our code) integrate our protocol into their platform, be it a website, an app, or even a crypto wallet. It is currently in an Alpha state and can be found on our GitHub for free. We plan to launch the Beta later this quarter after we receive feedback from our partners that have integrated our SDK. The final version will launch later in 2022, with no exact ETA. We hope that our SDK becomes very popular around the industry and is integrated and utilized by some of the industry's leading projects and wallets.
This will, directly and indirectly, benefit our users. It will directly benefit them by allowing them to use our services in a multitude of locations. It will benefit them indirectly by drawing more users to our protocol, which will draw more users to our Staking 2.0 Multi-Chain Liquidity Pools, which will lead to an increase of potential multi-chain swap volume, which in turn rewards our users with a higher token price and the potential to receive more revenue being generated by our Multi-Chain Swap Protocol fees.
A minute for the community to read!
While they do, let's get ready to take live questions from them 🥳
In this 3rd segment, I will open the group for some seconds for the live community to shoot you some pressing questions.
Please pick five original questions to answer.
Try to ignore generic, vague, and copy-paste questions 😊
What's your favorite dessert?
Strawberry Cheesecake is definitely up there.
Dear community, please use the guest's reply above in your questions to prove the originality of your questions.
The group will be unmuted shortly.
---Chat was then opened for the live community to send in their questions---
Segment 3 - Live Questions
Dear guest, as a measure to deter bots and reward hunters, your favorite dessert (Strawberry Cheesecake) has been included in the questions so you can tell original questions apart!
Please prioritize such questions 🙂
Before I can get to access Rubic exchange is there any need for KYC
Is any community restricted from registering with Rubic Exchange, is it open globally?
There is no need for KYC with Rubic. There are no communities restricted from using Rubic. There is no registration process either.
app.rubic.exchange simply requires that you have your own crypto wallet. Through our partnership with OnRamper, we also offer a fiat on-ramp for new crypto users (or even experienced users who need to top-off their wallets).
Rubic is a global protocol and not restrictive in any way. We aim to be open and easy to use for everyone in the world.
[Yuuri Tielemans Archraf]
Regarding the multi-chain swap, have there been tests carried out to ensure the swap can take up to six to seven figures?
When we originally launched our Multi-Chain functionality, it was limited to around $8,000 or so per one single transaction. We had increased it to $10,000 many months back.
More recently, we increased it to $20,000 per transaction, and eventually to $50,000 per transaction.
One of the main reasons why we limited the amount that could be transacted across blockchains at any one time, was for security purposes. If someone had been able to execute a double-spend, it's a lot easier to eat that when it's only thousands of dollars, not millions.
Over time, we intend to increase the per-transaction amount to over $1,000,000 per transaction. This is to accommodate the numerous whales that have contacted us regarding our protocol. We will incrementally increase our swap value limits as we increase the size of our liquidity pools, as that is the main limiting factor at this point in time. Security isn't as much of a concern, especially since we have been thoroughly audited by 2 different highly reputable auditing firms.
Have you been audited? I have not heard you talk about the security of the funds? It is what every investor craves for and plans to escape so in case of insecurity of funds, scams, and rug pull how strongly is your security put in place?
Yes, we have been audited by both Certik and Fairyproof. We passed both audits with flying colors and received top marks from both firms. Certik audited our Multi-Chain Swap Protocol, and Fairyproof audited our Staking & Liquidity Pools.
We will continually perform internal audits to ensure our protocol is operating as intended, while also requesting audits from 3rd party firms every so often to re-legitimize our protocol and liquidity pool security as we update and expand Rubic.
Does your SDK allow for external apps and wallets to be linked and integrated into the rubic protocol?
Yes. Our SDK allows for external apps and wallets to natively integrate our Multi-Chain Swap Protocol (which includes our Smart Routing process).
Our Business Development Team is going to be contacting projects all across the industry to inform them of our SDK and provide them with assistance in integrating it into their apps, wallets, or websites.
Is RBC trading and how can we buy or invest? I've followed your sessions. Your team knows their onions. Hey, we're in a dip too so I might as well put my money into something impressive hehe. Links please 😊😊😊
The best place to buy RBC is through Rubic.
Our token is natively ERC-20, so its contract was created on Ethereum. However, we have additional versions of RBC on 2 additional blockchains, Binance Smart Chain and Polygon. You will find them as BRBC and RBC (PoS) respectively.
Our token is also available for purchase on Gate.io and Probit.
We are working on getting a listing on a major Tier 1 exchange and hope to make that a reality in the near future.
The following are links to purchase RBC, along with the contract information:
🛒 How and where to buy 🟩 $RBC token👇🏽
🔗 ERC20 Contract Address: 0xA4EED63db85311E22dF4473f87CcfC3DaDCFA3E3
🔗 BSC Contract Address: 0x8E3BCC334657560253B83f08331d85267316e08a
🔗 Polygon Contract Address:
Do you have time for one more? 😎
Have your pick 🥳
Regarding your whitepaper, who helped in its drafting? Did you hire a special team for that or was it all in the hands of your team?
No third party helped in the drafting of our Whitepaper. It was all in the hands of our team.
Now, most of our team members are Russian, and English is a second language for them. We have some native English speakers on the team now, and we will be responsible for curating our new Whitepaper to ensure it's easy to understand for anyone familiar with English.
We have been waiting to implement some of the more recent features before we issue a new draft of our Whitepaper. It is going to be a short-term goal that we will focus on - getting an updated Whitepaper on our website.
We've recently updated our One Pager, as well as our B2B Pitch Deck. Our Whitepaper will follow suit very soon.
Aaaaannd it's a wrap!
Mr. Collin, you have been an absolute delight. Thank you so much for taking this time to talk to us about Rubic. It was a very enlightening session.
Please share your social media links with our community so we keep tabs on yours 🥳
Here are links to all of our socials:
Telegram Announcement Channel: https://t.me/cryptorubic
Telegram Chat: https://t.me/cryptorubic_chat
Any final remarks for our community?
Here is a copy of our Pitch Deck
Please check us out at app.rubic.exchange for all your trading needs! We're constantly improving our protocol to provide users with the best value with the least amount of hassle. Rubic's goal is to become the preeminent name in Multi-Chain trading, and we are going to continue working even harder in 2022 to make that a reality.
We wish you all the best with Rubic!
Do send our warm regards to the team working round the clock to make this project a success!
They're all amazing!
Will do, thank you!
Until next time, do enjoy the rest of your morning!
It was an honor to host you!
The AMA with Rubic is now over.