Introduction to Ruby.Exchange: First AMM with NFT

Press release

Ruby.Trade combines cutting-edge Ethereum technologies to create a feature-rich user experience that gives productive traders and farmers more opportunities to make money.

Automated Market Makers (AMMs) are the decentralized financial solution (DeFi) to the problems of centralized cryptocurrency exchanges. Through user-friendly, trustworthy and secure token trading, AMMs have established themselves as fundamental components of the DeFi movement and the ecosystem. However, AMM often suffers from a lack of “stickiness” and a poor user experience.

Ruby.Exchange seizes the exciting opportunity of being the first exchange to use non-fungible tokens by taking advantage of the convenience and simplicity of AMM, the speed and gas-free transactions of the Skale network, and the versatility and utility of non-loadable tokens (NFTs) and bring them all together in a beautiful, sleek UX with built-in bridges, trader-friendly charts, spreadsheet liquidity provider location management controls, and attractive liquidity mining rewards.

Built on scale

Based on Skale Community, a powerful multicast solution for Ethereum, Ruby was designed from the ground up to solve a wide variety of problems that are important to DeFi. The infrastructure provided by Skale is unmatched in the DeFi arena and enables the execution of functions that would not be possible on Layer-One-Ethereum.

• Rich, Feature-Rich UX powered by NFT Gem – Creative, beautiful works of art that add to the “stickiness” of the platform by demonstrating both real utility and artistic value. NFTs are 100% stored in the chain and stamped for user profiles, as coupons for transaction fee discounts and APY boosts from the liquidity provider, as well as premium functions such as charting of original and advanced analytics as well as affiliate links, copy trading identifiers and. unlock other social sharing markers.
• No gasoline fees, up to 2,000 transactions per second throughput, and built-in threshold encryption for pre-protection.
• Smooth bridge. Skale’s IMA Bridge provides a fast, secure, and fully decentralized connection between Ruby’s Skale chain and the Ethereum layer, with cross-chain transactions taking just 18 seconds.

NFT: More than just a JPG transaction

Ruby.Trade is helping to broaden the use cases of NFT and broadening its role as a vehicle for trading digital photos and collectibles. The atmospheric setting around Skale allows gemstones to be poured and distributed on demand. Meanwhile, providing NFTs with real-world use cases in DeFi with measurable financial value makes them a useful store of value and allows users to see prices in the marketplace.

Decentralization, DAO and Governance

AMMs like Ruby.Exchange are key components of the DeFi ecosystem, providing centers of liquidity, users, and decentralized application developers. Due to its importance, every AMM bears a particularly high level of responsibility for openness, neutrality and security.

Ruby.Trade is based on the cypherpunk principle that a widespread system cannot be closed, taking into account that this requires the distribution of governance and economic influence (holding of tokens) newspapers as well as the decentralization of the blockchain infrastructure.

Ruby can only function securely and efficiently as a decentralized autonomous organization or as a DAO. The Ruby DAO will administer, maintain and protect the Ruby.Trade Protocol to ensure the long-term sustainability of the AMM and other key ecosystem components.

Sponsorship rounds completed

Ruby.Exchange has successfully completed seed and strategy funding rounds, raising a total of $ 2.8 million. Supporters include some of the biggest and most respected names in the industry including NGC, Movement Ventures, Wintermute, Skale Ecosystem Fund, Morningstar Ventures, Generate Ventures, HashKey, CitizenX, and ZBS Cash, as well as a few major Angels.

There will be a public sale prior to the launch of Ruby.Trade.

Building a World Wide Web 3. Multi-Connected

As an AMM, Ruby.Exchange is part of the core infrastructure for DeFi and thus the emerging decentralized 3rd movement of the World Wide Web. By leveraging the latest technologies from the Ethereum ecosystem, including a powerful tier two and functional NFTs that are not constrained by rising gas costs, Ruby AMM can provide users with features not available anywhere else in the DeFi world. Ruby.Trade aims to be the number 1 AMM on scale and the primary infrastructure for the broader DeFi movement.

Learn more about Ruby.Trade:

https://weblog.ruby.trade

https://twitter.com/ruby_trade