Gate.io AMA with Rubic-A Cross-Chain Tech Aggregator for Users + Tools for dApps

Time: Nov 1st, 2021, 13:00 UTC
Gate.io hosted an AMA (Ask-Me-Anything) session with Collin O’Brien, Marketing manager of Rubic in the Gate.io Exchange Community.
Official Website: https://rubic.exchange/
Twitter: https://twitter.com/CryptoRubic
Follow Rubic on Twitter and Telegram

Guest

Collin O’Brien — Marketing Manager of Rubic

Q&A from Gate.io

Q1: Collin, could you explain to the community what Rubic is and what your goals are?

Collin: Rubic is a Decentralized Multi-Chain Exchange. Rubic offers a trading platform for users to swap their digital assets while always retaining control of their assets and always receiving the best rates on their swaps.

We specialize in cross-chain swaps and DEX aggregation. Meaning, we offer users the ability to trade tokens across networks, in a very easy and intuitive way. Also, users who swap within a network, will be presented with multiple price options for their swaps, considering liquidity and gas fees.

We view what we’re trying to do as something akin to what Amazon and Alibaba did for e-commerce. We’re consolidating DeFi into one easy-to-use platform to enable new users to join this new financial revolution.

Our goal is to bridge every blockchain network together for a seamless transfer of value across networks. We plan to integrate all major AMMs across all networks and have everything be interoperable.

Our goal is to become a household name, globally, when it comes to trading crypto.

Q2: Can you tell us who the founders are and the rest of the team?

Collin: Rubic was founded by Vladimir Tikhomirov and Alexandra Korneva in September 2020.

They also created and worked on MyWish, another crypto project responsible for smart contract generation and token creation for networks like BSC, NEO and others.

Vladimir Tikhomirov has a PhD in Computer Science and is an extremely talented and gifted programmer.

Our team is composed of experienced crypto developers, marketers and B2B development. We have over 20 members on our team, and we are adding new members monthly. We just hired two more team members to handle 24/7 technical and customer support.

We have a dedicated Business Development team as well. Our marketing team consists of about 6 people.

Also, we have dedicated teams for Frontend and Backend programming.

I think the best part about this team is that everyone is fully bought-in to Vladimir’s vision for Rubic and we are all working very hard to see it through to fruition.

Q3: With that said, can you touch on what problem you are solving?

Collin: Yeah, absolutely!

We are aiming to solve the issue of interoperability. Currently, the process to trade an asset on one blockchain for an asset on another blockchain is extremely complicated. You need to use at least 3 different project platforms (DEX->Bridge->DEX), but you also need to own both source and target blockchain’s native coins, and during the entire process you are charged lots of fees and you waste a lot of time, and in crypto, minutes can be the difference between profits and losses.

We remove all the hassle out of trading assets across blockchains.
We handle everything on the backend so that the user experience is simple and intuitive. If you have a token, regardless of blockchain network, you can sell it for any other token you want on any other blockchain network. That would be what the user would select, and then we’d handle everything behind the scenes to make the swap happen.

Investors in RBC will be able to stake their RBC tokens into our decentralized liquidity pools.

Our liquidity pools are used to move value across blockchain networks by using smart contracts to lock & unlock tokens on different networks to send value across them efficiently (quick & cheap).

Once staked into our decentralized liquidity pools, users will receive a proportional % of the overall fees collected for swaps across blockchain networks.

We charge a 0.3% fee that is collected in RBC during the cross-chain smart contract process.

0.25% is proportionally paid-out to all liquidity providers, while Rubic keeps 0.05% for operational costs.

Q4: Can you now give some detail as to What is the purpose of the token? Does it have utility, is it a governance token?

Collin: Unlike a lot of tokens in crypto, Rubic’s token RBC has critical utility and is paramount in the function of the platform itself.

RBC acts as a vessel for transporting value from one network to another.

We use RBC in our own custom smart contracts to move value across networks.
Token A -> RBC -> Lock RBC -> 0.3% fee in RBC -> Unlock Wrapped RBC -> Token B

That is the process for a multi-chain swap through Rubic.

For users who are interested in earning passive income, the RBC token will be staked natively in our Multi-Chain Liquidity Pools in Q4 2021. We’re currently awaiting finalization of 3rd party audits to ensure everything is safe and secure.

When users stake their RBC in our liquidity pools, they will receive a proportional allocation of some of the fees. Rubic keeps 0.05%, while stakers receive 0.25%.

Again, this is paid out proportionally to all stakers. The more multi-chain swap volume flowing through Rubic’s platform, the more passive income RBC holders will make.

The upcoming multi-chain trading market is going to be over $1 Billion per day in volume in 2022, and we hope to capture a significant portion of that daily trade volume, i.e. a lot of passive income for RBC token holders.

Beyond all of that, RBC does act as a Governance token.

The total supply of RBC is 124 Million.

The current circulating supply of RBC is 109 Million.

Roughly 88% of tokens are in circulation. The team owns 10% of the tokens, so 12.4 Million RBC, and they are being slowly unlocked over time.

Our tokenomics, in my opinion, are extremely attractive. Most of our tokens are in circulation and the team holds a small % compared to most projects.

We see the future of RBC as being staked into our decentralized liquidity pools to facilitate cross-chain swaps. Again, liquidity providers will receive a proportional share of the fees incurred for cross-chain swaps. i.e. The more cross-chain swap volume flowing through our platform, the more passive income our token stakers will receive.

We held a governance vote earlier this year to determine what blockchain network our users would like us to integrate, and they chose Fantom.

Fantom integration is on our roadmap for November!

Q5: Collin, so what kind of fees does Rubic charge? How much does it cost to do on-chain or multi-chain swaps?

Collin: Regarding fees, Rubic does not charge any fees for on-chain swaps. So, if you are swapping tokens only on a single blockchain network, Rubic will never charge you any fees for your transactions. We aggregate numerous AMMs to provide customers with options on their swaps. Whichever AMM their trade goes through; they will pay the associated fees with that AMM.

The only time Rubic charges a fee is when processing a Multi-Chain Swap.

The fee Rubic charges is an industry standard 0.3%. This is taken behind-the-scenes during the multi-chain swap process and is collected in RBC.

To conduct a multi-chain swap though, a user will technically still be sourcing liquidity from an AMM on the source network, as well as an AMM on the target network.

Rubic calculates all fees and preemptively charges customers in the source network’s native coin. So, if you’re starting on Ethereum, all fees will be in ETH. If you’re starting on Binance Smart Chain, all fees will be in BNB.

The 0.3% fees are collected and accrued into our custom Multi-Chain Liquidity Pools, where they will be stored until they are distributed to our token stakers on a proportional basis. Users who stake tokens are receiving their share of 0.25%, while Rubic retains 0.05% for operational costs and development.

With daily trading volume of all multi-chain swaps expected to breach $5 Billion by the end of 2022, we believe the ability to generate revenue from this model is massive.