Ruby Protocol Overview — Privacy Made Possible!
Ruby Protocol is a privacy management system for Web 3.0 that offers and implements a privacy layer that interacts with the multi-chain ecosystem. It is a thin private data access control gateway between various entities and organizations in the decentralized and traditional financial world.
The protocol originates from a refined and pervasive need in the cryptocurrency space to enable private transfer of funds and provide privacy-preserving cross-chain payments while protecting your assets and behavior from snooping.
Ruby Protocol will serve as a fine-grained access control gateway for data flow in various scenarios, including a private exchange platform between TradFi and DeFi, NFT-based access control or DID. The flexibility of the protocol makes it applicable to a variety of industries and use cases. It will also use a cryptographic protocol that allows us to be distributed and at the same time maintain confidentiality. By combining MPC with other cryptographic methods, we will be able to offer our services with greater confidentiality.
Ruby token
RUBY as a native Ruby protocol token. Stakers can deposit it as collateral to launch a node on the network. Blockchain needs a layer of privacy to support data monetization. The benefits of RUBY include, but are not limited to:
- Stake: To ensure the decentralization of the Ruby protocol, all nodes must stake RUBY.
- Governance: RUBY token holders can create and vote on proposals. Token holders can vote on protocol updates and parameter changes.
- Incentives: RUBY acts as a reward for those who apply data monetization and provide liquidity.
The total supply of RUBY tokens is 1 billion, which will be distributed and directed to various aspects of the data market network, including:
- Fundraising round to secure resources for future development. (seed round-6.0%; private round I-8%; private round II-10% and public sale-8%).
- Saved funding for technology and ecosystem development. (Parachain Bond Funding — 15%; Ecosystem Development — 10%)
- Tokens to aid and incentivize Ruby protocol operations, development teams and advisors. (Fund reserve-15%; founding team-10%; partners and advisors-5%; developer onboarding program-5%; )
- A staking reward pool and community to support the Ruby Protocol. (Early bet reward — 5% and community reward — 4%).
Investors
Ruby Protocol raised funds in a private sale — only $7.3M. The funding round was led by Digital Strategies, DFG Group, SignNUM Capital, D1 Ventures, Global Coin Research, Ocean Foundation, DWeb3 Capital, Maverick Global Ventures and others.
Twitter Score for Ruby Protocol 5, shared by Digital Strategies, DFG Group, SigNUM Capital and many others. There are also many angels, founders and influencers following. At the moment they have 5.3k readers and this number is growing, the asset is good, no markups have been noticed.
Conclusion
The Ruby Protocol took great care in creating their product, a Web 3.0 privacy management system that offers and implements a layer of privacy that interacts with the multi-chain ecosystem. Now I recommend everyone to join Rube social networks and try to participate in the life of the project!