RubyDex is a unique endeavor in the blockchain industry due to its multichain approach and broad asset range, which includes traditional financial assets along with cryptocurrencies. While most decentralized exchanges (DEXs) primarily focus on crypto assets, we understand the immense potential for growth in offering perpetual contracts for traditional assets like commodities, stocks, and forex - markets that collectively amount to trillions in daily trading volume. This approach allows us to tap into a significantly larger market and attract those interested in trading traditional financial assets in a decentralized manner.
Furthermore, we do not plan to ignore the potential of the crypto market. We will work diligently to list trending and popular coins. In addition to this, we are leading in the offering of NFT perpetuals, enabling the trading of NFT collections at their floor prices with data sources from leading marketplaces such as Blur, OpenSea, LooksRare, and X2Y2. This innovative approach to the inclusion of NFT perps in a DEX is yet another benefit that sets us apart from others in the industry. This confluence of traditional assets, cryptocurrencies, and NFTs into one decentralized platform makes RubyDex truly novel in the blockchain space.
Category
Surprise Us 🤫
Timeline
Given RubyDex's established presence and successful deployment on various chains, including the Taiko Alpha 3 Testnet, our integration with the Taiko Blockchain is primarily contingent upon the mainnet launch timeline. We have a streamlined process in place and are poised to act swiftly, leveraging our existing infrastructure and expertise. We can commit to deploying and having all of our services available on the mainnet within one month of launch.
Project Plan
Objective: To integrate RubyDex with the Taiko Alpha 3 Chain, thereby expanding our multi-chain deployment strategy and enhancing our ability to capture liquidity and users from the rapidly growing ecosystem.
Methodologies & Technologies:
Smart Contract Deployment: Utilize and expand upon our existing smart contracts that have been successfully deployed on chains like Arbitrum One. These contracts, particularly the Vault and Update functions, will be adapted to fit Taiko Chain's specifics.
Security Protocols: As safety remains paramount, we will employ our non-custodial approach that has already been implemented and proven successful in other deployments. This ensures users remain in control of their assets when needed, mitigating risks associated with centralized exchanges. Additionally, our Forced Exit safety mechanism will be applied, which acts as a safeguard in case there are no updates to user information.
User Experience (UX): Leveraging RubyDex's user-friendly interface, we aim to ensure that even users new to Taiko can easily navigate and make transactions on our platform.
Batch Updates: Our unique Update Contract function will be integral to our deployment, ensuring transparency and regular updates of user information on-chain.
Long-Term Goals:
Market Expansion: By strategically placing RubyDex at the crossroads of traditional finance and the burgeoning DeFi sector, we aim to tap into the global financial markets, leveraging assets like gold and opening avenues in high-leverage trading.
Asset Diversification: With innovative assets such as NFT perpetuals, RubyDex seeks to continually diversify the options available on the platform.
Sustainability: Revenue streams from trading fees, especially with the potential high volume from high-leverage forex trading and other assets, will ensure the platform's sustainability. The no-KYC trading experience will also play a pivotal role in attracting a global audience, further enhancing revenue streams.
Community Engagement: Hosting workshops, webinars, and engagement events to foster trust, educate our user base, and address any concerns directly.
Conclusion:
RubyDex's approach blends the cutting-edge benefits of DeFi with the stability and offerings of traditional finance. By integrating with the Taiko Chain, we are not only diversifying our reach but also solidifying our commitment to providing users with a versatile, secure, and transparent trading platform. Our innovative features, combined with a focused project plan, set the stage for RubyDex's successful and sustainable expansion in the DeFi landscape.
Project Impact
RubyDex's solution has the potential to drive significant growth in the Taiko ecosystem. By expanding the range of tradeable assets, including those traditionally inaccessible on DEXes, we can attract a larger and more diverse user base. Traditional market participants interested in decentralized trading of familiar assets, DeFi enthusiasts looking for innovative platforms, and individuals from financially underserved communities can all find value in our offering.
Furthermore, the superior customer service and educational materials that RubyDex will provide can help demystify DeFi and Taiko, potentially drawing new users into the ecosystem. Our commitment to serving the needs of both crypto natives and traditional finance converts creates an inclusive platform that can boost overall engagement with the network.
Lastly, our hybrid model — blending the custody and control benefits of decentralized exchanges with the speed and efficiency of centralized ones — represents an evolution in DeFi that can set a new standard in the space. As this model becomes more widely recognized for its benefits, it can lead to increased adoption of Taiko-based platforms like RubyDex.
Team Information
RubyDex was co-founded by a team of experienced professionals with deep expertise in finance, crypto, product management, and cybersecurity:
Larry Demers: Larry has a rich background in venture capital, entrepreneurship, and crypto. He spent 2 years in venture capital, followed by 3 years in entrepreneurship, before entering the crypto world. From 2017 to 2019, he co-founded and ran a token fund. In 2019, he became a co-founder of Phemex, a crypto derivatives platform. Building upon these experiences, Larry embarked on the RubyDex project in 2022.
Operations Lead: The Operations Lead was in charge of TikTok’s Monetisations and oversaw the strategy of Bilibili’s Creator Business. Later, this individual became the Director of Operations at Phemex and a strategy and growth consultant for Web 3 Projects.
Product Lead: The Product Lead was responsible for Phemex's derivatives product line and also served as a senior manager for derivatives products at MEXC, a cryptocurrency exchange.
Security Lead: The Security Lead has an extensive background in cybersecurity, having held responsibility for security at the China Foreign Exchange Trade System, Senpu, and Phemex. The Security Lead has also served as the head of security for a compliant exchange.
Together, this core team combines diverse and complementary skill sets to drive the vision of RubyDex - creating a next-generation decentralized exchange that meets the needs of both traditional and crypto markets. Although we chose to operate with some anonymity, we let the transparency of our blockchain data speak for the value we can create. We are happy to provide further identity information as needed in the later stages of this process.
Project Description
RubyDex is a unique endeavor in the blockchain industry due to its multichain approach and broad asset range, which includes traditional financial assets along with cryptocurrencies. While most decentralized exchanges (DEXs) primarily focus on crypto assets, we understand the immense potential for growth in offering perpetual contracts for traditional assets like commodities, stocks, and forex - markets that collectively amount to trillions in daily trading volume. This approach allows us to tap into a significantly larger market and attract those interested in trading traditional financial assets in a decentralized manner.
Furthermore, we do not plan to ignore the potential of the crypto market. We will work diligently to list trending and popular coins. In addition to this, we are leading in the offering of NFT perpetuals, enabling the trading of NFT collections at their floor prices with data sources from leading marketplaces such as Blur, OpenSea, LooksRare, and X2Y2. This innovative approach to the inclusion of NFT perps in a DEX is yet another benefit that sets us apart from others in the industry. This confluence of traditional assets, cryptocurrencies, and NFTs into one decentralized platform makes RubyDex truly novel in the blockchain space.
Category
Surprise Us 🤫
Timeline
Given RubyDex's established presence and successful deployment on various chains, including the Taiko Alpha 3 Testnet, our integration with the Taiko Blockchain is primarily contingent upon the mainnet launch timeline. We have a streamlined process in place and are poised to act swiftly, leveraging our existing infrastructure and expertise. We can commit to deploying and having all of our services available on the mainnet within one month of launch.
Project Plan
Objective: To integrate RubyDex with the Taiko Alpha 3 Chain, thereby expanding our multi-chain deployment strategy and enhancing our ability to capture liquidity and users from the rapidly growing ecosystem.
Methodologies & Technologies:
Smart Contract Deployment: Utilize and expand upon our existing smart contracts that have been successfully deployed on chains like Arbitrum One. These contracts, particularly the Vault and Update functions, will be adapted to fit Taiko Chain's specifics.
Security Protocols: As safety remains paramount, we will employ our non-custodial approach that has already been implemented and proven successful in other deployments. This ensures users remain in control of their assets when needed, mitigating risks associated with centralized exchanges. Additionally, our Forced Exit safety mechanism will be applied, which acts as a safeguard in case there are no updates to user information.
User Experience (UX): Leveraging RubyDex's user-friendly interface, we aim to ensure that even users new to Taiko can easily navigate and make transactions on our platform.
Batch Updates: Our unique Update Contract function will be integral to our deployment, ensuring transparency and regular updates of user information on-chain.
Long-Term Goals:
Conclusion: RubyDex's approach blends the cutting-edge benefits of DeFi with the stability and offerings of traditional finance. By integrating with the Taiko Chain, we are not only diversifying our reach but also solidifying our commitment to providing users with a versatile, secure, and transparent trading platform. Our innovative features, combined with a focused project plan, set the stage for RubyDex's successful and sustainable expansion in the DeFi landscape.
Project Impact
RubyDex's solution has the potential to drive significant growth in the Taiko ecosystem. By expanding the range of tradeable assets, including those traditionally inaccessible on DEXes, we can attract a larger and more diverse user base. Traditional market participants interested in decentralized trading of familiar assets, DeFi enthusiasts looking for innovative platforms, and individuals from financially underserved communities can all find value in our offering.
Furthermore, the superior customer service and educational materials that RubyDex will provide can help demystify DeFi and Taiko, potentially drawing new users into the ecosystem. Our commitment to serving the needs of both crypto natives and traditional finance converts creates an inclusive platform that can boost overall engagement with the network.
Lastly, our hybrid model — blending the custody and control benefits of decentralized exchanges with the speed and efficiency of centralized ones — represents an evolution in DeFi that can set a new standard in the space. As this model becomes more widely recognized for its benefits, it can lead to increased adoption of Taiko-based platforms like RubyDex.
Team Information
RubyDex was co-founded by a team of experienced professionals with deep expertise in finance, crypto, product management, and cybersecurity:
Larry Demers: Larry has a rich background in venture capital, entrepreneurship, and crypto. He spent 2 years in venture capital, followed by 3 years in entrepreneurship, before entering the crypto world. From 2017 to 2019, he co-founded and ran a token fund. In 2019, he became a co-founder of Phemex, a crypto derivatives platform. Building upon these experiences, Larry embarked on the RubyDex project in 2022.
Operations Lead: The Operations Lead was in charge of TikTok’s Monetisations and oversaw the strategy of Bilibili’s Creator Business. Later, this individual became the Director of Operations at Phemex and a strategy and growth consultant for Web 3 Projects.
Product Lead: The Product Lead was responsible for Phemex's derivatives product line and also served as a senior manager for derivatives products at MEXC, a cryptocurrency exchange.
Security Lead: The Security Lead has an extensive background in cybersecurity, having held responsibility for security at the China Foreign Exchange Trade System, Senpu, and Phemex. The Security Lead has also served as the head of security for a compliant exchange.
Together, this core team combines diverse and complementary skill sets to drive the vision of RubyDex - creating a next-generation decentralized exchange that meets the needs of both traditional and crypto markets. Although we chose to operate with some anonymity, we let the transparency of our blockchain data speak for the value we can create. We are happy to provide further identity information as needed in the later stages of this process.
Point of Contact
glen.zacharias@cryptodexlab.com
Previous Work
https://phemex.com/
Additional Information
https://rubydex.com/en/analytics
Agreement