Ruby.Exchange offers the first NFT-powered AMM and hot token
Ruby.Exchange is an innovative project that combines cutting-edge Ethereum technologies. It aims to create a feature-rich user experience, as well as provide more ways for traders and yield farmers to earn money. Furthermore, this company took the exciting opportunity to become the first-ever NFT-powered exchange that unites the simplicity and convenience of an AMM, the flexibility and utility of NFTs, and the speed and gasless transactions of the SKALE network. The project puts all of them together in a UX with an integrated bridge, LP position management dashboard, trader-friendly charts, and attractive liquidity mining rewards. It also has its own tokenomic model.
The team plans to launch the platform’s native RUBY token on June 13, 2022. The sale will end on June 15, 2022. 2,200,000 RUBYs will be available for purchase for the price of $0.250000. That’s 1.1% of the total supply. RUBY tokens are very trending, and their popularity is rising. Their value will likely increase over time. The company wants to raise $550,000 with the sale, and it will accept BUSD in exchange.
Moreover, the team has built its platform on the SKALE network, which is a powerful multi-chain solution for Ethereum. Ruby is designed from the ground up to solve various critical problems for Defi. SKALE provides the infrastructure that is unparalleled in the Defi sector, thus enabling functionality that would be impossible on Ethereum L1.
What advantages does this platform provide?
Ruby will offer various exciting features, along with gamified UX powered by gemstone NFTs. The latter are, in fact, beautiful, generative artworks that will increase the platform’s popularity by embodying real utility as well as artistic value. The company will ensure to store NFTs on-chain and mint them for user profiles. Customers will get non-fungible tokens as rewards for trading on the Ruby platform. They will also be able to unlock premium features such as native charting and advanced analytics.
Besides, traders will enjoy zero gas fees and built-in threshold encryption for front-running protection. According to the team, SKALE’s IMA Bridge will offer a fast, secure, and fully decentralized on/off-ramp between Ethereum L1 and Ruby’s SKALE chain, with cross-chain transactions taking just 18 seconds.
Ruby.Exchange will help to broaden the use cases for NFTs, expanding their role as a means of trading digital images and collectables. What’s more important, SKALE’s zero-gas environment will allow minting and distribution of gemstones on-demand. On the other hand, giving these NFTs real use cases within Defi, with measurable financial utility, will make them a meaningful store of value, thus enabling users to set their price on the secondary market.
This project has a truly strong potential as AMMs like Ruby.Exchange are the critical components of Defi ecosystems. They provide hubs for liquidity, customers, and dApp developers. That also means that any AMM bears an especially high responsibility to remain open, secure, and neutral. And Ruby aims to be all of these things.
The team has built Ruby.Exchange on the Cypherpunk principle. The only way it can operate securely and effectively is as a decentralized autonomous organization (DAO). Ruby DAO will maintain, govern, and safeguard the Ruby Exchange Protocol. It ensures the long-term sustainability of the AMM, as well as other vital ecosystem components.
