In 2020, driven by technology and financial innovation, DeFi will usher in a big explosion. However, due to the congestion of Ethereum and the high gas fee, the expansion of the public chain will usher in a new round of explosion. However, due to the lack of interconnection between public chains, the development of DeFi has encountered a bottleneck. At present, the encryption market has more and more demand for cross-chain interconnected DeFi platforms. How to break through the phenomenon of "island of public chain"? How to achieve free flow of funds on different public chain DeFi platforms? On the afternoon of March 26, Rubic co-founders Vladimir Tikhomirov and Alexandra visited the Odaily Chaohua community to explain in detail how Rubic achieves cross-chain transactions and allows funds to flow freely between multiple chains.
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The following is a record of the community interview, organized by Odaily:
Odaily: Please introduce yourself first, and tell us what kind of opportunity you joined the encryption industry? What past work experiences do the main founders of the team have?
Vladimir Tikhomirov：Hello everyone, I am Vladimir Tikhomirov, Ph.D. in Computer Science and co-founder of Rubic. Our team We have been developing in the field of encryption since 2017. We have built many projects with top teams like NEO, Binance, etc. We won the authorization of TRON Accelerator, WAVES and Matic (Polygon), and created the most popular smart contract builder - Mywish.io. Right now, we are developing the Rubic project. In 2015 I bought 1 bitcoin, trying to understand what it meant, and then sold it when the bitcoin price reached $800. In 2017, we started developing cryptowill - due to death or loss of private The problem of loss of encrypted assets caused by keys is still very serious.
Alexandra：Hello everyone, I am Alexandra, the co-founder of Rubic. I am mainly responsible for public relations and marketing. I have more than 7 years of work experience in this field, and I have cooperated with Cointelegraph, Blockshow, Cryptofriends, NEO and many other encryption projects. I have been involved in the cryptocurrency industry since 2017. It all started when we were invited to organize a cryptocurrency event. I was so impressed with the people and technology involved that I received a bitcoin for the first time.
Odaily: At present, Chinese users are still relatively unfamiliar with Rubic. Please briefly introduce what Rubic does? What existing problems do you mainly hope to solve? What role does Rubic play in the future DeFi ecosystem you envision?
Vladimir Tikhomirov：Rubic is the first platform that allows users to conduct general transactions and cross-chain transactions in the same place. For example, you need to buy BUSD but only have ETH. With Rubic, you can easily do this in simple steps. Rubic is a decentralized and open source protocol. Although there are many other projects on the market, we are still integrating the blockchain and providing services to all token holders. Currently, Rubic supports transactions on Ethereum, Polygon (formerly Matic), and Binance Smart Chain.
Odaily: Has Rubic achieved the interoperability of the four main chains of Ethereum, BSC, Tron, and Matic? In terms of technical principles, how to realize cross-chain transactions between different public chains?
Vladimir Tikhomirov：Our main goal is to connect all solutions in one place and provide the most convenient interface for users. Currently, we have only implemented cross-chain transactions between Ethereum and BSC. If it comes to technical details now - unfortunately there is still no reliable and live decentralized solution in the market, the Panama bridge is also centralized. We have also developed some bridges, but there are still centralization issues on the back end when doing transactions. Expect the implementation and integration of new decentralized solutions (including Andre, Gravity Hub, Polygon).
Odaily: DeFi is now one of the major trends in the development of the blockchain industry. In addition to Rubic, there are many DeFi projects. What made you choose to enter this industry? How do you plan to differentiate your competing products?
Vladimir Tikhomirov：In addition to DeFi ideas, we see many opportunities for services that are easy to use and don’t require weeks of training. In addition, the blockchain also has competition among users. The goal of Rubic is to solve these two problems: to develop a simple service that can be used in various blockchains. Users can choose the desired blockchain according to their needs. Yes, the market is very competitive. But let's go back to Rubic's core idea - a multi-chain DeFi platform. Therefore, our product has two main advantages: extremely simple and easy to use, and multi-chain and cross-chain exchange. Also, we will release the first version that supports anonymous transactions at the end of April.
Odaily: In terms of trading, compared with CEX, does Rubic have advantages in liquidity, depth, fee rate, and quality of trading pairs?
Vladimir Tikhomirov：I personally think that users who trade on CEX and DEX are different. CEX provides a complete set of functions for professional trading. DEXs are (currently) perfect for the most convenient instant trading and liquidity providers.
We are decentralized adopters and believe that DEXs will soon dominate. Rubic offers unique features in addition to traditional instant trading: limit orders for uniswap (for some trading pairs), private orders and public p2p trades, unique link generation for trades, brokerage fees for custom trades, and more.
Our main advantage - privacy (anonymity tool). We believe anonymous tools are what the market needs. There are many scenarios where you need to be able to trade privacy: buying or selling tokens under a closed protocol, paying bonuses to team members, or making investments (if you're a celebrity). Rubic will be a fusion of Tornado Cash and Uniswap, you will be able to enter smart contracts with any token and trade and withdraw them completely anonymously. There is no such solution on the market and, in our opinion, it is necessary.
Odaily: Will Rubic have a specific target user group? How to develop a more targeted customer acquisition strategy? What is the size of the Chinese community now?
Vladimir Tikhomirov：Thank you for your question. First of all, China is one of our main target markets. We're just starting to build a community here. However, since 2017 we have cooperated with many Chinese projects: NEO, EOS, EOSPark, BW.com. We believe that Rubic will disrupt the industry and it is good to start in China. We are the first to do cross-chain transactions and instant transactions in one place, and come up with a unique anonymous solution.
Regarding the target user base - currently we already have a very active community on different social media with around 10k members and more than 6k users. Most of them are from the US and Europe. We love our community for their creativity and support. We usually have a video AMA live session every month, we also share our weekly updates, and there will be many different competitions (gaming competitions: like meme competitions, UI or business design) and events. We also cooperate with different media and influencers, and cooperate with many well-known crypto projects, such as Dash, Polygon (ex-Matic), Binance Smart Chain, CryptoKek, etc.
Odaily: At present, the multi-chain aggregation trading platform is still questioned about centralization. How does Rubic avoid the risk of centralization? And what risk control protection does Rubic have in code auditing, insurance compensation mechanism for accidents such as hackers?
Vladimir Tikhomirov：Yes, you're right - if we're talking about centralization, we always have risks, which could be caused by employees, regulations, or external hackers. Our focus is on decentralization, we have fully decentralized p2p trading, instant trading done by external DEXs (you can choose the best rate) and centralized cross-chain trading, executed by Binance with SAFU program. Security is our top priority - the code is audited by many developers and there is a bug bounty program in place.
Odaily: Rubic also mentioned in the white paper that the crowdfunding function will be launched. Compared with the existing platform, is there any innovation?
Vladimir Tikhomirov：Our main advantage is simplicity - you can start crowdfunding in a minute. We can set the desired ratio for your token and get a unique link that can be shared with different groups. No KYC required, no AML required.
Odaily: Rubic once released Mywish, a code-free smart contract generation platform. Who has this product served and what are its main functions?
Vladimir Tikhomirov：MyWish is a leading smart contract creation platform, and many different projects have created more than 15,000 smart contracts through the MyWish platform. We've helped with a lot of projects that you probably know about. Including Binance, NEO, EOS Park, Waves, etc. Our vision is to enable developers to create smart contracts in a few clicks on any blockchain. Support EOS, NEO, Ethereum, TRON, Binance Smart Chain, Matic, RSK.
Odaily: What are the functions (usage scenarios) of Rubic’s token RBC? What is the specific allocation mechanism?
Vladimir Tikhomirov：RBC is the fuel of the platform, and all revenue is converted into RBC for repurchase and liquidity provision. We also launched a staking campaign for LPs, which is very popular in our community.
Allocation plan:
66% of the tokens circulated in the market after the token sale,
8% of tokens are used for marketing and bounty campaigns. 4% of the tokens are locked for 4 months,
10% of the tokens are reserved for the team. All tokens are locked, unlocking 2% every 3 months (within a year),
8% of tokens are distributed to MyWish holders, 2% are unlocked every 3 months (within one year),
8% of tokens are allocated to Uniswap/Pancake liquidity providers,
The current circulating supply is 100,400,000 coins out of 124,000,000.
Odaily: What is Rubic's next plan? Your roadmap or plan.
Vladimir Tikhomirov：This year, we plan to release many features such as:
Instant transactions on Binace Smart Chain (this week),
Anonymizer release (end of April),
Instant trading on Polygon (ex Matic) (Q2),
Support for mobile version (Q2),
support for more blockchains (Q3),
update the user interface with charts (Q2),
Has its own AMM DEX on L2 (Q4),
An anonymizer with its own Dex on L2 (Q4).
[community question]
[community question]
1. Where can I buy RBC? What are the plans for landing on CEX/DEX?
You can easily buy RBC on rubic.exchange.
There is also the Uniswap website: https://app.uniswap.org/#/swap?inputCurrency=0xa4eed63db85311e22df4473f87ccfc3dadcfa3e3
I would say that Rubic has a few main functions.
One of them is instant transactions. Cumulative trading volume over the past 1.5 months currently stands at $3,131,304. Although the transaction volume is still small, we saw its potential and our users started using it more because the gas efficiency is higher and the UI is more friendly. The second most popular feature is cross-chain transactions (ETH and BSC), with a transaction volume of $1,378,965 last month. The most popular trading pairs are ETH and WETH, and a few more: DAI, BUSD-T, USDT, USDC.
We will release instant transactions on Binance Smart Chain in the next few days, and we believe that more users will come to Rubic. They can easily switch from Ethereum to Binance Smart Chain, and then trade on BSC immediately, without switching webpages or paying huge gas fees. In the near future, we will not only create unique routes within one blockchain (ETH->WETH->USDT->USDC for ETH-USDC pairs), but also use cross-chain bridges such as "ETH->Wrapper ETH BSC -> USDС on BSC -> USDС on ETH".
