Rubic AMA session in tehMoonwalkeR’s high table telegram chat!

Rubic

8 min readMay 7, 2021

Today Rubic had a great AMA session and now we want to share the script of it with you!

Host

Hope you are doing top-notch!

Let’s begin

Korneva Alexandra

Sure let’s start!

Host

Let’s start off with an intro. Please tell us more about your backgrounds and your roles at Rubic Exchange?

Vladimir Tikhomirov

My name is Vladimir, I’m a Co-Founder of Rubic, I have a Ph.D. in Computer science. Our team has been in crypto since 2017, focusing mostly on development.

We have built many projects collaborating with top leaders like NEO and Binance. We have won TRON accelerator, Grant from WAVES, and Matic (Polygon). Created the most popular smart contract builder — Mywish.io. Now we are working on rubic.exchange

Korneva Alexandra

Sure, nice to meet you all! My name is Alexandra, Co-Founder of Rubic, PR, and Marketing, I have more than 7 years of experience in this area, and I have worked globally with different crypto projects such as Cointelegraph, Blockshow, Cryptofriends, NEO, and many others. I have been working in crypto since 2017 too.

Host

Nice, a true OG, we started roundabout at the same time. Rubic is in good hands indeed

So by the name of your company we can guess what it is. What I would like to know is how does Rubic Exchange differs from the many other exchanges out there?

Vladimir Tikhomirov

We are the first Multichain DEX that combines different services in one place. Rubic lets its users interact in real-time with several blockchains and perform various actions like instant trade or exchange.

Some of our users already call us Amazon/Expedia of crypto and we love that. The ultimate simple solution for users of any blockchain.

We believe that every blockchain has some features that distinguish it from others and that every one of these networks has unique functions that are useful for some users. Rubiс’s goal is to allow users to unite all of these blockchains in one place so they would easily swap between them and do that in one place — Rubic.exchange.

For example, you need to buy BUSD and have ETH only. Thanks to Rubic you can easily do it in simple steps. Decentralized and open-source protocol.

We are LIVE, the volume reached $10M including cross-chain swaps. Partnered with Binance Smart Chain, Polygon, and others (TRON this month).

Host

Is that per day? Impressive if it is

Vladimir Tikhomirov

not yet, it’s cumulative, however, we plan it will be our daily volume in 3–4 months

Host

Wow, sounds really like something that is needed. How do the fees work and how fast are the swap/trades?

Would like to add with all these different chain interactions is there much slippage as a result?

Vladimir Tikhomirov

Сurrently, for the most swaps — we do not have any extra fees (just gas). you do not need to wait if you use instant trades, cross-chain from 30 sec (our own bridge solution) to 10 minutes (Polygon->ETH).

Host

Well that will be a great target to achieve and a few months from now isn’t a long time

Please can you give us a breakdown of all your features too?

Vladimir Tikhomirov

no, we interacting with top-DEXes on every blockchain (Uniswap, 1inch, Quick-Swap, pancake, etc) + own routing. That’s why we provide the best rate now

Host

I see you have limit orders too which is a top thing to have instead of market buying on AMMs like we do atm

Also, I see we can create pools soon but with only one token. How does that work?

Vladimir Tikhomirov

Right, to be honest, Limit Orders are not so popular on Ethereum — since you need to pay (gas) for trade creation and for the execution (if you close the trade). Gas fees are eating the revenue from the execution. However, we will launch it on BSC soon — and it will be game-changer

Host

I agree, the gas fees are killing us. ETH is currently only for wealthy traders atm

Looking forward to seeing you live on BSC

Korneva Alexandra

- Instant Trades (Ethereum, BSC, Polygon)

- Cross-chain swaps (Ethereum, BSC, Polygon)

- Order book (Ethereum, BSC, Polygon)

- Limit orders (Ethereum)

- Own Cross-chain Bridge

- Iframe widget. This widget allows any project to integrate Rubic.exchange to their platform in order for users to complete a trade-in one click without the need to leave the website.

Our widget allows completing cross-chain swaps and will have the full functionality of our website.

- Anonymizer — we just have launched it in test net

Host

Those are some top-notch features indeed

Let’s talk about the token. Why do we need it, what makes it valuable and what can I do with it?

Vladimir Tikhomirov

Yes, we have many benefits for the holders. The most important — we provide a unique service for cross-chain swaps and soon we will charge the commission in RBC for all swaps. Plus fees for OrderBook and LP Staking campaign, of course!

Host

We love a juicy LP campaign in here. Are you able to share any details on your ones yet?

Vladimir Tikhomirov

One was just completed for Uniswap LP holders (+20% for 3 months), Pancake campaign will be started in ~2 weeks

Host

Nice, Pancake is the playground of the LP farmer atm

Vladimir Tikhomirov

yes, low gas, high speed

Host

With exchanges, there are many options available to traders. Users are always the issue, how do you plan to them onboard en masse?

Can’t believe how cheap it is and quick

Frightened to look at how much TX fees I have spent on ETH

Vladimir Tikhomirov

haha, please count all the transaction last year * ETH price now 🙂 probably the best strategy was just to hold

Host

Hahah you know it man

Korneva Alexandra

Yes, first of all, we think Rubic is the first “full-circle” platform you can swap and trade your tokens on several blockchains on one website. Second, with our own routing, we compare not only price but also gas fees so you can choose the cheapest option. Third, we plan to have some trading campaigns for our users.

Host

True, sounds like a top user acquisition plan for sure

With all exchanges, it is about making money to sustain itself. How does Rubic.exchange derive revenue?

Vladimir Tikhomirov

We deliver own bridge solution for various projects which needs wrapped token on another blockchain. For example, RBC(ETH) has a wrapped version — BRBC (BSC), and users can easily change it in both ways. + Fees for some operations — cross-chain swaps and OrderBook.

Korneva Alexandra

I won’t miss a chance to say that if any of the group participants here needs a bridge you can fill in the form — https://docs.google.com/forms/d/e/1FAIpQLSfxu3m2wrR-chv9Z4c-zjeT4kz4U73gVwhiqx91rjtElibs0Q/viewform?usp=sf_link

Community Question:

Rubic has become a solution to most of the trading problems facing crypto traders. Is there any other area that needs to be fixed but has not been fixed yet by Rubic? If yes, tell us and how you plan to fix it?

Vladimir Tikhomirov

One of the big things to come — Private Trading. We are working on a unique solution that will help users to trade on any DEX in private mode. Nobody will understand who sell/buy tokens, let’s say on Uniswap

Community Question:

Will Rubic also be a platform for NFT trade/swap?

Vladimir Tikhomirov

Hi Tolga, we are not NFT believers at the current moment, to be honest. But RBC concept is working for NFT — there is a chance that we add it next months.

Community Question:

Rubic also mentioned launching the crowdfunding function in the white paper. What’s new compared with the existing platform?

Vladimir Tikhomirov

Yes, it’s extremely simple to start crowdfunding on Rubic now. Create token, create trade and it’s ready. It’s not our main business, but it works for small projects/ideas perfectly.

Community Question:

Marketing is a central element for every project so that everyone knows the potential that can be generated by a project, it is very important to achieve the goals that have been set. So what strategies can you employ to attract new users and investors to “RUBIC” and maintain it in the long term..??

Korneva Alexandra

I agree marketing is a central element. At the moment we plan a campaign for promoting Rubic, it will include some of the influencers that you definitely know 🙂 And regarding the strategy in general -

here what we do and plan to continue to do:

- involve our and other community (contests, rewards, etc)

- work with Influencers (Youtube, Twitter)

- build communities in different countries — we already have a very active Turkish and Chinese community

- talk about Rubic everywhere (conferences, podcasts, social media, etc)

- cross-marketing with our partners

and many other activities

Community Question:

Will multi-chain mechanisms include Polkadot, Cardano, Waves, Secret Network, and others who have their own blockchain?

Yes, our goal to combine all the DEXes, cross-chain swaps in one place. No need to find how to trade on Polygon or Solana — just come to Rubic and use it. But we need to prioritize our work — the next will be TRON and then we should choose the next blockchain again.

Community Question:

“Now, you’ll finally be able to swap in peace, knowing your trades aren’t being watched” How can ensure that Rubic also not one of the watchers? What is your security offer?

Vladimir Tikhomirov

We are in a decentralized world. The user interacts with our smart contracts by using MM, for example. Rubic is not an intermediate element there. If we are talking about private trading.

Community Question:

At present, the multi-chain aggregation trading platform is still subject to centralization problems. How does Rubic avoid centralization risks? And what risk control protection does Rubic have, like auditing and insurance compensation mechanisms for accidents such as hacking?

Vladimir Tikhomirov

Korneva Alexandra

There are 2 big directions for Rubic: DEXes/Bridges integration and Private Trading. For the first one, we direct users to the needed exchange (with our routing) and there are no security risks since the user interacts with DEX directly. For private trading — yes, 100%, we need a solid audit before the main net launch. Test net is live