Ruby.Exchange

What is Ruby.Exchange? Ruby is a decentralized exchange powered by NFTs, built on the SKALE V2 network for Ethereum.

As well as being the first DEX to integrate NFTs throughout the user experience, Ruby is the foremost AMM on SKALE and the liquidity hub for all apps and services in the SKALE ecosystem.

SKALE Network SKALE is a layer-2 solution for Ethereum based on a model of interlinked EVM-compatible chains. Each chain is secured by a subset of validators from a pool. Validators provide resources for multiple chains, and each chain's validator set is regularly rotated for security. Chain capacity can easily be scaled according to demand, and the network is capable of providing almost unlimited transaction throughput.

Ruby: Key features Many of the benefits of Ruby.Exchange are enabled by the functionality the SKALE network provides:

Zero gas All transactions on SKALE are gas-free, meaning Ruby's users can trade or LP any amount of funds efficiently.

NFTs Ruby integrates gemstone NFTs throughout the user experience. Gems are generative artworks that also provide meaningful functionality to users. NFT-permissioned rewards include APY boosts for yield farmers and trading fee rebates. Every user receives a random gemstone as a profile picture, and can mint new ones for a small fee.

Decentralized storage The SKALE Network provides functionality beyond most blockchains, including decentralized file storage. Files of up to 100 MB can be held on the blockchain, and a data availability protocol ensure that information can always be accessed—making it more reliable than hosted storage or even IPFS.

NFT images and metadata can be stored on the blockchain, enabling Ruby to integrate them fully with the exchange protocol, and ensure they are 100% available and owned by their users.

StableSwap pool Ruby's four-coin stablepool enables users to swap USDT, USDC, USDP, and Dai with low slippage, while earning RUBY farming rewards.

MEV/front-running protection SKALE encrypts every transaction submitted to the network using threshold encryption. Transactions are only decrypted by validators once they are confirmed on the blockchain, preventing attackers from viewing them in the mempool and front-running them.

Liquidity Mining and Staking Ruby.Exchange has reserved 65% of RUBY token supply for ecosystem development, including liquidity mining and staking rewards. Users will be able to earn by providing liquidity to Ruby's pools, and by staking their RUBY in the rewards contract.

Fast finality On SKALE, finality is just a few seconds. Once a block has been validated, it can be considered finalized. This is not the case with Ethereum (or Bitcoin), where finality requires multiple confirmations.

Instant bridging SKALE's decentralized bridge facilitates fast, secure transactions between supported chains. Transactions between SKALE Chains and Ethereum mainnet take around 18 seconds, while direct transactions between SKALE Chains are free and almost instant.

Europa Liquidity Hub Ruby is a founder member of the Europa Liquidity Hub, a cluster of liquidity-focused dApps and services hosted on a shared SKALE Chain and including a bridge to mainnet. Europa is the gateway to the SKALE ecosystem for the majority of tokens and users. Any new project that launches on SKALE has the opportunity of incentivizing liquidity on Ruby, using Europa's mainnet bridge, and enjoying the marketing benefits and network effects of being brought together with so many other projects.

RUBY token RUBY is the native token of Ruby.Exchange. RUBY has a maximum supply of 200 million and was minted as an ERC20 token on Ethereum mainnet.

RUBY tokens are distributed as liquidity mining and staking rewards. The token can also be used to pay to mint gemstone NFTs with widespread functionality. Finally, RUBY is the Ruby DAO's governance token and will be used to vote for parameter changes and development priorities.