Ruby.Exchange Celebrates One Month Live!

This week’s update falls on Ruby.Exchange’s one-month anniversary. To celebrate, we’re giving away 10,000 RUBY to our community! You can find out how to enter the prize draw below.

First, though, here’s a quick summary of the latest updates and bug fixes:

  • Significant site optimization and performance improvements
  • Minor improvements to the sFuel faucet
  • Updates to raffle ticket purchase UX
  • Raffle UI now shows time left in days

Ruby’s First Month In Numbers

Ruby.Exchange’s soft launch happened the same week that the crypto markets put in their bear market low (at least, so far), with BTC capitulating below $18,000 and ETH below $900.

Launching during a bear market doesn’t have to be a problem — in fact, it can often build a strong foundation for future success. As CoinList writes, “Without the noise of a speculative bull cycle, emerging protocol teams are better positioned (and forced) to focus on defining utility not only for the product, but also for their new token. This promotes long-term durability and strength for the protocol that is underpinned by clear use cases, product-market fit, and a strong desire to build an engaged community.”

That sounds like us! In building critical infrastructure for the SKALEVERSE, Ruby has always planned to be around for the long term, so we expect to see (and weather) many more bear markets down the line.

At the one-month mark, Ruby has achieved a total of:

  • $2.8 million TVL, including $1.5 million in the StableSwap 4Pool
  • $950,000 all-time volume
  • $2,900 all-time fees
  • 1,630 RUBY burned
  • 800+ all-time users

In particular, we’re pleased about the amount of liquidity our StableSwap has attracted, even while the platform is still in beta. We always expected the 4Pool to be popular, due to the benefits of zero-gas stablecoin swaps, and the StableSwap currently contains just over half of Ruby’s TVL.

Ruby’s StableSwap has proven popular among liquidity miners.

Win Your Share Of 10,000 RUBY!

To celebrate our first month live, we’re giving away 10,000 RUBY tokens! To participate, make sure you’re following @Ruby_Exchange on Twitter. Then, like and retweet our prize giveaway tweet, tagging at least two friends. (Only accounts that were created before the announcement will be eligible.)

We’ll use a Twitter Picker to select five winners at random:

  • First prize: 5,000 RUBY
  • Second prize: 2,000 RUBY
  • Third prize: 3 x 1,000 RUBY

Winners will be announced after one week, so you’ve got plenty of time to enter!

Follow Ruby.Exchange on Twitter and Telegram, and subscribe to our blog for regular updates.

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Ruby.Exchange

Ruby.Exchange

The first NFT-powered AMM on SKALE with zero gas fees!